<p>Financial aid at W&M is a joke... unless you live instate and make less than $40,000 a year. W&M does not meet 100% of need, and there is less and less money available due to the budget crunch. If you're out of state, good luck getting anything in the form of a grant.</p>
<p>Java:</p>
<p>Yeah, wouldn't it be nice if the guvmint paid for all of our higher education? But that is not the system we have chosen, for better or worse, and we do not elect anyone who has any interest or motivation to change it - because, of course, we want the guvmint to provide us a free education but don't dare raise my taxes. </p>
<p>Again, we have chosen a free market economic system (sort of), and this is reflected in higher education. W&M does what it has to do to be competitive with its, ah . . ., competitors. For in-state students, that means it's an incredible bargain compared to its private competitors (Duke, Wake Forest, Emory, Georgetown, UR, etc.) and its public competitors in other states (UNC, U of Maryland, etc.). Even for out-of-state students, the price of a year at W&M is $35K, still a bargain compared to (same list as above). So, yeah, there's less financial aid, either need-based or merit-based.</p>
<p>I know, just venting, right? Good luck on exams!</p>
<p>--K9Leader</p>
<p>Sometimes I wonder how you young people will make it. I got out in 1983, and paid about 5500 a year for room, board, tuition and fees. I had 5,000 in student loans when I got out, and I worked part time during school, and full time in summers to pay for the rest.</p>
<p>Now it's almost not worth going to school, 5 years at 20,000, and the cost of missing 5 years in the workforce is probably close to a total of 200,000. It will take a long time to make that back.</p>
<p>Sorry for the gloom and doom.</p>
<p>Java: W & M, being a public school adheres to the FAFSA. We are out of state and as I indicated on another thread they met 76% of our need. As with just about all schools the pieces of the package started with Stafford loan, work study, and then 76% of the balance in grants. Would I have liked 100%? Of course. Especially since the 35% OOS HEAVILY subsidize the instate students. But we knew going in that it was a state school and as such needed to respond to the tax payers of Virginia. With 2 children in college for 3/4 years, it's been somewhat reasonable. ( The year with 1 at W&M was the worst.)</p>
<p>"Yeah, wouldn't it be nice if the guvmint paid for all of our higher education? But that is not the system we have chosen, for better or worse, and we do not elect anyone who has any interest or motivation to change it - because, of course, we want the guvmint to provide us a free education but don't dare raise my taxes."</p>
<p>Ok, gonna go off an a bit of a tangent - in Virginia you currently pay:</p>
<p>Income Tax - 2% - 5.75%
Personal Property - Real Estate - varies by jurisdiction, generally, something over $1 per $100 / assessed value, for some, that's $2000 a year, to others, $10,000+<br>
Personal Property - Cars, etc - varies, 4.57% of assessed value, with the state subsidizing 70% of that
Sales Tax - 4+1=5%
Fuel Taxes - 38 cents/gallon
Local taxes - Restaurant taxes, utility taxes, etc</p>
<p>Not to mention:</p>
<p>Federal Income Tax - between 10 and 35% of income
Social Security Tax - 6.2% of income
Medicare Tax - 1.45% of income</p>
<p>So, for most people, half or more of their income is spent before they even get home. For a single person, childless couples, people whose kids are already through college, or whose kids can't or won't attend a VA public college, raising taxes to further subsidize our colleges <em>is</em> a tough sell - in Northern VA, transportation is an issue that affects everyone, but look at the troubles funding <em>that</em>. </p>
<p>Personally, I think we could do better - but the others states most noted for their state-supported university system (California and NC) have very similar in-state rates to Virginia. (but in comparison, our OOS are on the high side.)</p>
<p>It's wierd, but the very expensive privates, with their massive endowments have, at least theoretically, made themselves less expensive than many top-tier state-supported institutions. </p>
<p>What's it all mean? I dunno - except that the government isn't going to fund the College to the extent we'd all (here) probably like. It's up to the endowment ...</p>