<p>I have read that they meet 100% of need. Do they really make themselves affordable to middle class and upper middle class families?</p>
<p>Richmond's website is misleading.</p>
<p>While they do meet all demonstrated need, the formula for this is simply what is determined by your FAFSA as your Expected Family Contribution (EFC). The formula is then Cost of Attendance (COA) - EFC = Award.</p>
<p>However, because the FAFSA takes into account all assets of the parents (savings, retirement, house) and not just liquid assets, it is very common for the EFC to actually be much higher than middle class family can afford. If this is the case, the school will make loans available to cover the difference.</p>
<p>UR is a rich person's school. The people there are extremely well off, isolated from the real world, and anything but diverse. The sky-high sticker price is a reflection/cause of this phenomenon.</p>
<p>This the formula at most Fafsa schools. Profile looks at more things, like home equity (where many middle class families are out of luck and just need to look to another school, or go head over heels into debt). I did look at UR's financial supplement, where they look at child support, and mortage/rent payments. I don't have a problem with any of that. The supplement seemed straight forward. If a family cannot meet EFC, the family needs to look at a cheaper solution (merit aid schools if their kid is in the top 25% of applicants), a public college, or they look at private loans or 2nd mortgages. I would not take out a private loan, but that is a personal decision.</p>
<p>I have heard that it is a rich person's school overall. I know that they have a bunch of prep school kids who attend. I know of someone who transferred out for that reason. He was from an upper middle class family, went to a very competitive public HS. He could not relate to a good deal of the student body. He left after freshman year.</p>
<p>From your previous posts, northeastmom, I'm assuming you're from an upper-middle/upper class background. I can only report my experience and what my friends have told me.</p>
<p>My family is lower-middle class, and I have an almost full ride. For the past two years, I have taken out $4,000 in loans, the rest is covered by scholarships and grants. I am also offered a federal self-help loan. A tuition benefit through my father's job has kicked in this year, and the school stopped requiring me to take out the $4,000; the scholarship I am receiving through outside sources covers my loans.</p>
<p>I do have some friends who have complained that the FAFSA has miscalculated their families' resources, meaning that the family had to take out private loans. However, the loans that they have taken out is nothing compared to the loans I have heard some of my friends who attend other schools have to take out. The FAFSA would have reported this EFC no matter what; to me, the guarantee of meeting full need seems like it's worth just applying to UR to see what the package could be.</p>
<p>The school also offers merit-based full-tuition scholarships (I know of 50 Richmond Scholar scholarships, I don't know that much else regarding those) and many other scholarships of varying amounts that a student can apply for through the academic departments once he or she is attending.</p>
<p>If your child is contemplating UR, especially as an early decision, you can contact the financial aid department. They will give you an estimate of what your aid package would look like in order to help you.</p>
<p>In regards to the social life here, yes, sometimes it does feel like it's a rich kid's school. I'm not going to lie that there are times that I get frustrated with the atmosphere here. The thing is, however, that I can retreat to my close group of friends that I met through the groups I am involved in on campus. No matter who you are, what your background is, what you're passionate about, you can find someone to relate to at UR. I did contemplate transferring, but studying abroad for a semester made me realize what an amazing school UR is (and by the way, UR practically throws money at you to go abroad--all of your financial aid goes with you and all students receive a travel stipend). My friends are amazing and the resources I have access to are unmatched--especially for a small school. UR is definitely a school worth at least contemplating as an option. What do you have to lose by checking out the potential of a university? Maybe ten minutes' of your time; who knows, it might be the best fit for your child.</p>
<p>Thank you for posting adorkable. I hope that you enjoyed your study abroad experience!</p>