<p>If you get a merit scholarship, will your total cost reduce? This is hard to explain so I will give an example of a school that does this. At U of Rochester, let’s say the price is 60k and your total contribution is 30k, soley based on need, with 22k of the aid coming from grants and 8k coming from loans and work study. So let’s say you get a 15k scholarship. 8k will be used to offset loans and work study but the remaining 7k will be split probably 50/50, half covering the grant and half lowering your total contribution. So now, you have 18.5k in grants and 15k in merit. Your total contribution has decreased to 26.5k.</p>
<p>Does AU do this, or something close? In other words, is the EFC your set EFC no matter the merit or can it reduce through merit scholarships? </p>
<p>Also anyone above 100k income want to comment on AUs financial aid? I am finding a hard time getting an estimate because the net price calculator lumps everyone together above 100k and estimates aid based on that, so people with 101k income and people with 400k income will be given the same estimate. How was AU compared to your other FA packages? Lower, higher, average?</p>
<p>There may be other factors, but with income over 100K, and no other siblings in college or other circumstances that are taken into account, then financial aid chances probably dim. Sorry I can’t answer your financial aid question as my daughter only received a merit scholarship and the Stafford loan that everyone who completes the FAFSA is offered. Hopefully others on the board can. </p>
<p>The net price calculators for other schools give me on average 30k to 40k in grants so I don’t see how I wouldn’t get any aid at AU. Nobody at income slightly over 100k is expected to pay 60k in college costs, though I should probably have specified that family income is not much over 100k. </p>
<p>Sumobats - I have read of people being happy and others being very disappointed with AU financial aid. Schools take more than salary into account. They factor in savings and some factor in home equity. When my son applied to college in 2007, a year that my husband closed his business, Northwestern gave him financial aid, Emory gave him nothing, American gave him merit and work study, Maryland gave him merit. So it really depends on the school and how they calculate aid.</p>
<p>Most schools will simply substitute your merit aid for the need aid. The need aid can then go to others who need it. Many variables here.</p>