financial aid

<p>hey guys.. i received my acceptance packet in the mail today.. i am confused by the $500 deposit that is required.. seems strange that this is requested before seeing what your financial aid package looks like.. can anyone shed some light on this for me?</p>

<p>I understand the deposit to be an expression of material interest. Obviously you gained admission into a prestigious institution and your spot is coveted by a lot of people. Im sure reserving a seat is a request by the university to achieve some communication of commitment. For more practical purposes, im sure they would like some sort of tangible idea of the incoming class size. Be cognizant that aid in terms of scholarships is for all intents and purposes capped at about 8k a year, unless you’re extraordinary in some unconventional sense.</p>

<p>Do you know what you financial aid package looks like yet?</p>

<p>I have not received my package yet. When I met with the director of financial aid, he assured me that institutional scholarships vary slightly among first year students, and the most one can usually expect is between 6 and 8 thousand. If you do the math its very simple. Subtract your scholarship and federal loan from your expected first semester tuition and you will find the difference which must be covered. Your options for that difference are cutting a check, paying in a 5 month pay plan throughout the semester, taking out a private loan, or some combination of the aforementioned.</p>