<p>I recently received the RPI medal, which says if I am accepted when I apply, I get 15,000 Per year... However, RPI is not the only school I am interested in, and getting the RPI Medal helps, but does not guarantee admission. My grandma thinks that no matter what, I should just go to RPI, even though I have reach schools. </p>
<p>How is financial aid at RPI compared to a school like MIT or Columbia? </p>
<p>Financial aid will be a large factor in me deciding where to go.</p>
<p>MIT and Columbia have excellent, excellent, excellent need-based financial aid. They both meet 100% of need and furthermore, are more generous than other 100%-need schools. I believe MIT has eliminated loans for some income classes.</p>
<p>The RPI medal offers merit-based aid of $15,000. It does not guarantee anything more than that. In fact, RPI does not even meet need on average (82% of need met on average [College</a> Search - Rensselaer Polytechnic Institute - Rensselaer - Cost & Financial Aid](<a href=“College Search - BigFuture | College Board”>College Search - BigFuture | College Board))</p>
<p>RPI financial track record is not equivalent to MIT nor Columbia (82% FN met, 71% Free, 29% WS/loans).</p>
<p>That’s compared to MIT (100, 85, 15) and Columbia (100,92,8).</p>
<p>However, RPI’s SAT & ACT averages are lower so a student would have a better opportunity to stand out at RPI and qualify for merit money.</p>
<p>MIT & Columbia do not offer merit money, but if you have a low EFC and get in, they will throw money at you faster than you can say “boo”.</p>
<p>RPI has excellent financial aid but it’s not as good as MIT or Columbia</p>
<p>Congratulations on the RPI medal! That is a great start to your college search.</p>
<p>Please mention to your Grandma, however, that the total cost of attendance at RPI is over $52,000 per year [Undergraduate</a> Cost of Attendance - Rensselaer Polytechnic Institute (RPI)](<a href=“http://www.rpi.edu/dept/admissions/aid/costs.html]Undergraduate”>http://www.rpi.edu/dept/admissions/aid/costs.html) , so unless your family can comfortably afford the additional $37,000+ per year, you need to apply to Safeties (including one you can afford regardless of financial aid), Matches and Reaches and get all the Cost and Financial aid information before making your final decisions. Having affordable options next April will be very, very important. Good luck!</p>
<p>So, even with my medal, and financial aid, if I were accepted to MIT or Columbia, I could end up better of financially there than at RPI (Im a local student, which still doesnt guarantee anything…)</p>
<p>It totally depends on your family’s financial situation. If your parents have a low income and few assets, MIT and Columbia would likely be the better deal as their need based aid is better. But if your family has a higher income and assets, you may do better at RPI because the $15K is a merit scholarship that you would get regardless of income.</p>
<p>You need to figure out your family’s EFC using calculators on this site or the school’s web sites to get a full picture.</p>
<p>^^ Ok, Will do.
My parents are divorced, so does that complicate things more?</p>
<p>Which parent do you live with? The FAFSA (federal application, mandatory to receive fed aid) only requires the custodial parent’s information. However many schools require the submission of the CSS Profile Non Custodial Parent form. Hence, schools like MIT/Columbia will consider the income of both parents.</p>
<p>^^ I live with the one that makes more, but I am also a twin, that should help?</p>
<p>Yes twin helps because the expected contribution will be halved as the family will then have two in college at the same time.</p>
<p>Run the calculators to estimate your expected contribution: [MIT</a> - Student Financial Services](<a href=“MIT Student Financial Services”>MIT Student Financial Services)</p>
<p>Being a twin could help if you both attend schools that meet 100% of need. Schools like MIT and Columbia do, RPI does not and may or may not lower their expected contribution. </p>
<p>Profile schools also consider the income and assets of any new spouse if either of your parents remarried. </p>
<p>I would figure out where you stand ASAP. Most people are shocked by their EFC,. Then talk to each of your parents about what they are willing to contribute. This will help you see which schools you should focus on.</p>