I understand Tulane is very good about meeting a student’s financial need but does anyone have any idea what are the norms are for grant vs. loan vs. work study? If my financial need is $30k, what percentage of that would you expect to be grant, loan and work study?
This is not an area where I have as much experience as some others, but from what I understand there is no set breakdown. I think each case is weighed on its own and that academic performance does impact the amount given in grants.
According to the CollegeBoard, the average package is 75% grants/25% loans & work-study. However, the CB data also confirms @fallenchemist 's point that academic plays a role in need-based aid awards.
https://bigfuture.collegeboard.org/college-university-search/tulane-university
Tulane may meet need for the most desirable folks, but not for everyone. Average % of need met for freshmen is 95%. My guess is they may need full need for those that receive merit scholarships, or a certain portion of them, and then gap the others in the range of 70-90% of need (that’s just my speculation).
A lot of their verbiage (such as NOLA grant - https://tulane.edu/financialaid/grants/nola.cfm) includes ‘up to tuition, fees, etc’ as opposed to full cost of attendance (room and board is excluded).
they don’t claim to meet full need and avg loans/self help is almost 10k for freshmen (pretty high), and average debot is over 30k too. see stats on collegedata
@lz57c4 I suspect you are correct in how they choose to gap. According to the CB data, 69% of students had full need met. I tried to calculate the average % met for the other students with:
(95 - 0.69*100)/0.31 = Average % of need met for students for whom full need was not met
And found that for students whose need was not met in full, it was met, on average, 84% of the way. Please correct me if that formula is incorrect.
I haven’t thought through the math, but that 84% sounds like a number I have heard before.