<p>@Crayonwax
In answer to your question in almost all cases Zollman and STRIDE scholarships are given to those RD applicants who are accepted early. Given the current date and the RD admission decision release date of March 23, as well as prior year CC threads on when the STRIDE and Zollman notifications are mailed, notices should be going out shortly.</p>
<p>.02 David I generally enjoy and agree with most of your postings. In this case, I think you are a bit off-track.</p>
<p>Speaking only for Smith, and based solely on my own experiences, excellent financial assistance is available for many young women interested in matriculating at the school in Northampton, MA.</p>
<p>You don’t have to be of “very limited means” to get good financial aid at Smith. My daughter’s aid made Smith more affordable than Good Ole State U(the Huskies). </p>
<p>Best of luck to all. But STRIDE isn’t the only answer.</p>
<p>Boss51-- Ok, probably a little too terse re the middle class and dollars. Let’s
say that a sliding $$‘s aid scale exists as it concerns ultimate financial aid awards
by Smith and a few other LAC’s. Smith does its’ best I am certain-- but let’s face
it 53K is a chunk and families need to weigh this figure as they fund an undergraduate
education. The “debt” issue is huge in the media these days-- as it should be.</p>
<p>Regardless, crunch time is upon us. I appreciate your posts!</p>
<p>.02 David</p>
<p>“Basically, the upper crust pays the 53K, families with bright kids with very limited means get taken care of, and… the middle class … uh, uh, uh, goes to fine flagshipstate universities that they can afford. (if they are smart)”</p>
<p>Please remember that the middle income quintile in this country is roughly $43-67k. Anything above that is well above the middle. And for every doubling of income from ($50k), assets quadruple, so that the family with an income of $100k has on average four times the assets of the middle-income family with an income of $50k. (At $200k, they have, on average, 16X the assets.)</p>
<p>Like all schools, Smith does not expect a family to be paying for college out of current income, but out of past savings in the form of assets, or future savings (in the form of loans, to be repaid in discounted dollars.)</p>
<p>But yes, don’t take on more debt than you can afford.</p>
<p>Just curious, what do you count as assets–liquid cash in the bank, stocks, etc. that can be liquidated, or house and retirement assets that can’t be liquidated ?</p>
<p>All assets except retirement, including houses that can be borrowed against at ridiculously low interest rates (much lower than all student or parental loans).</p>
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<p>Many individuals are unable to qualify for a home equity loan due to the loss of equity or draconian lending practices.</p>
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<p>Valid observation.</p>
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<p>Tis true, though folks making $150k (at least around here, which is very, very rare, don’t usually have difficulties borrowing (unless they bought houses as the height of the bubble.) Still, a family with that kind of income can obviously (usually of course) borrow much more easily (against future income) than the average middle-income family.</p>
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<p>Define very, very, very, rare…about 3 percent of Olympians make $150,000 or more. Another 13 percent + make $100,000 to $150,000</p>
<p>[Economic</a> Profile and Stats for Olympia, Washington.](<a href=“Page Not Found | Fizber”>Fizber - City Economy)</p>
<p>Those who make $150,000 don’t usually need to borrow. They pay out of savings, current income, or more commonly the combination of the two. None of my acquaintances/friends who are fortunate enough to make $150,000 had borrow to pay for college. Also, usually high income wage earners are highly educated, place a high value education, hence, preplanned and saved for college from when their children were young.</p>
<p>I’d like to throw a couple additional factors onto this $150K magic
number, where a private tuitition affordability would appear to begin. These factors
are 1) other children in college (or those approaching college age) and
2) age of parents – oh let’s say 64. I would suggest that throwing these
two factors into the mix drives up the $150K affordability number. I wonder
how various LAC’s view these factors in their final “need based” computations.</p>
<p>Can anyone shed some light on these two issues. </p>
<p>Thanks David</p>
<p>Well, I’d say 3%i s awfully rare, especially when it includes folks living on investment income (I think), and those households including heads of households over age 65, living on retirements incomes over $150k (I doubt that there are many 40 somethings in that category), and who likely aren’t often paying for their kids’ college educations any more.</p>
<p>I do know that LACs (including Smith) did take into account education costs of other siblings. I don’t know what kinds of adjustments they make for age of parents. I’ve already commented that Smith made significant adjustments for us based on our health status.</p>
<p>mini-- Thank you so much for your analysis. Speaking solely for myself, I
believe I’m getting just about as nervous about this whole getting accepted
and paying for college thing as the applicants who frequent this CC site.</p>
<p>It is useful to hear from parents recently thru this process. Our boys stayed
closer to home attending different state universities. This private LAC thing
is a different deal. We like Smith!!</p>
<p>Thanks .02 David</p>
<p>I beg to differ on some of the numbers being thrown around here…Just because a family makes $150,000 doesn’t mean they won’t have to borrow money for college! My family doesn’t make that much but we live in a very high- cost area and I know families that make that kind of money who would definitely have to borrow to go to a private college like Smith. There are many factors like number of children, unemployment, illness, age of parents, etc. that impact a family’s ability to save and pay. We were fine for the first year but will definitely have dig deep and borrow for subsequent years. But we think Smith is worth it.</p>
<p>I’m a Dad of a Smith Firstie and want to echo the comments above that Smith truly does very well helping the families of the daughters they have accepted, be able to afford the school WITHOUT incurring huge debts. Even the middle class. </p>
<p>I very well know you parents are rightfully concerned that the dream their daughters have worked so hard to accomplish could now be pulled away due to funding. I mean, the financial aid supplement asks for make and model of our cars! We wondered if we needed to switch to bikes!</p>
<p>But please, stay guardedly optimistic. I was very concerned too last year with my response being “State schools are a good option” after every positive thing my D said of Smith. But hopefully, you too may be pleasantly surprised, as we were, at what Smith can offer. </p>
<p>But if it is still a hardship, please TALK to the financial aid folks. Here’s my perspective: They REALLY want the best class at Smith and YOUR daughters ARE that best class! More cynically, its also good business: with our smart daughters, Smith will make it up with alumnae contributions over the next 30-50 years! (Full confession: yes, we’ve already been called to donate and NO we are not contributing…yet!)</p>
<p>But secondly, this thread began with the delight of these wonderfully smart young women being overjoyed at their early acceptance to what is truly a wonderful school. A school that will help develop not only their academic pursuits but also the myriad of all their other strengths. My Daughter ran around the house at least twice upon being accepted…as I worried about how to afford it. She is even MORE overjoyed having been there but 7 months and I am proud of a school that helped make that dream affordable.</p>
<p>So, congrats to all of you smart women, and be patient with your parents! We/They want the best for you and would hate to say no to avoid crushing debt --but indeed fear they may have to. But here’s the rub… Smith wants the best for you, too! Now, help them prove it! You are all so very worth it!</p>
<p>To the prospective Smithies, good luck and persevere, as you already have done throughout your schooling!</p>
<p>I agree with the advice that people who are concerned about cost should speak to the financial aid officers once they receive their award. One very sage officer told me that the most important thing isn’t how much a school costs. It’s how much it costs that particular student. This varies a great deal based on many factors, including, as some h ave identified here, other children in college or in private schools, family needs (caring for an invalid family member, for example; health issues; imminent retirement), ability for the parents to borrow, savings and other assets, etc. All of this goes into the calculation when the aid offer is being put together, or can be brought into the calculation later if need be, hence the importance of speaking to financial services. </p>
<p>Every case is unique, and there are no blanket rules. Also, keep in mind aid is re-evaluated every year, so as circumstances change (and savings decrease :-)), it can and will adjust. In my experience, the aid officers care about getting each student the best possible package. It’s then up to the families to decide if how much they are “able” to pay matches how much they want to pay.</p>
<p>My daughter received a letter today with her STRIDE offer, so they’re on their way!</p>
<p>Congrats! Your daughter received an early admit letter, right?</p>
<p>Yes, she received an early write.</p>
<p>Eeeeek! I was so hoping for a STRIDE today, but I guess the agony continues until Monday. 
I don’t want to get my hopes up thinking early writes guarantee STRIDEs, but I sincerely hope that is the case. :)</p>
<p>Same boat as you, celine3455. Grr, two more days!</p>