Financials of Tufts Families

They usually match it every year - but I would ask them - just to be sure

Boston College offers 18 full tuition merit scholarships per year. Everything else is need based.
“Boston College is committed to meeting the full demonstrated need of every admitted student, and therefore we offer a limited number of merit scholarships. In fact, the Presidential Scholarship is our only academic merit-based scholarship, covering full tuition for 18 qualified applicants each year. There is no separate application for the Presidential Scholarship - both Early Decision and Regular Decision candidates are eligible for scholarship consideration as long as their completed application is submitted by the November 1 priority scholarship deadline.”
Affordability - Undergraduate Admission - Boston College (bc.edu)

I’m not sure about this. The 2020 fact book says only 42% of students receive need based aid, while a total of 69% receive some aid.

Part of the difference would be BC that also provides athletic scholarships (also non-need based financial aid). Page 52 here: https://www.bc.edu/content/dam/bc1/offices/irp/ir/factbook/factbook_pdfs/20-21_factbook_updated_august2021.pdf

Tufts gives no merit aid, such a difference from schools that did give big Merit Scholarships. That said, they gave us big aid that when you added together the Parent Contribution and the Student Contribution (Tufts fin aid said for any family earning over $60K there is a $2100 student contribution so the student has a skin in the game) it equaled our EFC from FAFSA. They also gave over $2K in work study, so I can make that during the year or pay it off if I win scholarships locally or nationally. Know that the work study amount does not come off your billed charges. My parents figured that out when my older sibling went to college. So that amount added to our bill exceeds our EFC by $2K ($2200 exactly). It was still a very, very strong aid package.
We know Tufts admissions is not need blind, they are need aware. Sixteen people from my school applied to Tufts, one very needs-aid was admitted. They waitlisted a full pay student from my school.
Acceptance rate this year was 9%. A solid portion of the Class of 2026 was filled in the two binding Early Decision rounds. Those ED fin aid packages are binding too, so no one who needs a lot of aid can go ED because “meets 100% of demonstrated need” had a $20K difference in interpretation and how ‘need’ is calculated by two of my top schools. Tufts being the more generous of the two.
I hope to win some scholarships to help. They pay directly to the school but there is a little flex where it is applied (off student loan amount or off work study). Book Awards pay directly to me to help with expenses. That would be awesome too.

Boston College offers 18 Pres/Gabelli Scholarships. They interview b/60-80 then narrow the group, and narrow the group. The rest is need based. Students must apply by Nov 1st to be eligible for the scholarship. You can be applying RD, just need to hit that application deadline.

Ooo, you are on to a group that got aid, above the 18 Gabelli Scholars. Athletics is a strong likely. Their sports are fantastic and make up so much of the fun culture of getting behind teams, a full band etc. This school just has a great vibe, strong academics without being nerdy, one of the most stunning US campuses, nice students and from those I spoke to great Profs. BC is a great college all around. :eagle:

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Those who can cash flow it, or those who have saved for the kid since birth. In other words, not many but more than enough to fill their class. Tufts isn’t known for their generosity.

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Tufts offered me the most aid of all schools I applied to. Rising junior. they even upped it last year to cover our covd hardship.

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Let’s assume you have 2 kids and make $175k. You pay $30k in federal income tax, maybe another $10k in state income tax. You net out $135k. Now you have to pay $80k at Tufts and you have $55k to live on.

Another family makes $50k, doesnt pay any federal income tax and actually gets $6k in earned income credit on their tax return. Tufts is free. You have $56k to live on.

Welcome to America!

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And yet I have never seen anyone leave $175k income to receive $50k.

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Someone with an AGI of $135k and minimal home equity gets zero financial aid from Tufts?

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AGI is not net of taxable liability.

Maybe you get something from financial aid at $175k. I was half joking.

And usually people making $175k have more marketable skills than someone making $50k but a big chunk of their hard work is eliminated based on some inflated college costs that’s actually a stealth (or maybe not stealth) wealth redistribution system that materially affects many semi upper middle class families but not the super wealthy.

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You don’t have any idea how need-based financial aid works, do you?

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Absolutely not. We will be paying 100% of college costs.

My point is there are probably thousands of families who dont qualify for aid because they make “too much” but really aren’t “wealthy” (ie the original poster).

Is that fair? I guess so if you’re not one of those families.

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I ran the Tufts EFC. You’re right about AGI. I use $175k, $50k in home equity, $5k in savings, a 16 yr old sibling and arrive at a $43,300 cost between both parents ($34k) and student ($9k).

With $200k of investments plus $50k home equit and $5k savings, the contribution goes up to $67,250. Basically half the investments would be spent.

It’s definitely something an aspiring family has to lean into. If they were able to part with $34k in their expected piece of the contribution, they could have been saving that much in prior years.

Is your family income under 150k?

Please do note that $175k puts one in the top 20% of households by income in the US.

Yes
but we own a rental with 3 apartments -that generate income - but with that still under 150k. Some schools count secondary property heavily against you. This wasn’t the case with Tufts.

Apartment was inherited from grandparent and is 70 yr old building.

Yes and in some parts of the country, $175k is middle class.

I feel bad for the OP because I know people just like this. My daughter’s friend wanted to apply ED to Cornell but her parents told her no because they would have to pay 100% of costs and they have 3 other kids.

Sure, you can say there are many other options and she’s “privileged” but the fact is some people don’t need to make that type of decision for their kids.

People in this income group pay federal income taxes (50% of Americans pay nothing and many actually get money back just for working), have to pay 50-100% of college costs and have high stress jobs they spent years cultivating through successful careers or owning a small business.

And because they are “upper middle class”, they are also disadvantaged in the admissions process. Wealthy people can donate money and buy their way in. Highly selective colleges dont want the appearance of elitism and will give advantages to people on the opposite side of the wealth spectrum.

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