<p>I've heard everything from "it's amazing" to "it's completely awful." Anyone have any idea?</p>
<p>It is neither. Instead, they are professional and responsive. As far as I know, the school still meets full need, which means that they will create a package that covers the gap between full cost and "Expected Family Contribution," or EFC. EFC can be estimated at many sites on the web (search: EFC calculation).</p>
<p>It is up to you to know what your EFC is, understand the factors that contribute to it, and be accurate and responsible in submitting the information. If the award does NOT meet full need, or if you have unusual circumstances, then engage the office with facts (not emotion) and they will work with you. I do not believe they make any distinction based on ED vs RD or any other factor. They want you to afford the school. </p>
<p>They are not using financial aid to "buy" students. They have the Danforth and other programs to do that based on merit. So don't consider it a negotiation where you dangle better offers. Just know your facts and make your case. They will help you.</p>
<p>And always remember that even if you are disappointed in the aid award, their loan program is the very best there can be.</p>
<p>In my experience it is amazing. My parents make under 50K and I got a free ride. I was admitted ED for the class of '13 btw.</p>
<p>Idk, but isn't 50k a year from both parents pretty low? I'm not trying to be rude or anything. So if your family does have low income, I think it's reasonable to expect such a good financial aid package. btw I come from a above average middle class family that makes around 120k I think, so I guess my financial aid package will be horrible? :(</p>
<p>^ No my brother who is 3 years older than me applied to multiple schools and did not receive a package that is even close to as good as the one I got at WashU.</p>
<p>My parents make just under $80,000 but we have an unusually large amount of assets that we inherited, so I'm kinda worried about my fin. aid package.</p>
<p>News release from WashU regarding financial aid:</p>
<p>An Important Update from Student Financial Services
Kevin Crimmins, Admissions Officer, BU06</p>
<p>As of fall 2008, Washington University has eliminated need-based loans as part of the undergraduate financial aid packages to low and middle-income families.</p>
<p>Specifically, this means that both entering freshman and full-time returning undergraduate day-students who have parental incomes of less than $60,000 will not be expected to take out need-based loans and will instead receive grants from the University that will not need to be repaid. Also, families with parental income somewhat higher than $60,000 may also receive additional student loan relief based on demonstrated need and their financial circumstances.</p>
<p>The goal of this loan relief is to increase the ability of students from low- and middle-income families to attend Washington University.</p>
<p>The increase in spending is coming from unrestricted endowments and a general increase in spending. It is not a shuffling of need from other students’ financial aid packages.</p>
<p>“Washington University has a long tradition of working individually with the families of our students to customize a financial aid award that ensures cost does not stand in the way of making a Washington University education a reality,” Chancellor Mark Wrighton said.</p>
<p>Bill Witbrodt, director of Student Financial Services, also added that this will not detract from their ability to work with every students’ family on an individual basis, and that any family with questions about the new policy should not hesitate to contact their office.</p>
<p>Wow, wow, wow. WashU was already more or less at the top of my list, but this just serves to cement that position. I fit squarely into that "$60k or less" statistic, so this is a great development for me.</p>
<p>Very nice, indeed.</p>
<p>When I applied, they guaranteed to meet 100% of your calculated need... which in the case of low income families, as stated above, this may not need to be repaid. However, for many many other students, they meet this need by offering huge loans. I think whether the program is excellent or horrible greatly depends on your own estimated need and your expectations... whether you're looking for scholarships/grants or loans.</p>
<p>For families who make less than about 60K Wash U meets 100% of a student’s need. If you make around 120K like my parents do, your stuck with crappy financial aid packages…</p>