<p>Hey, I know that financial aid for OOS is probably not the best. However, I just want to know from some alumni, parents, or current OOS students on how the packages typically are? I have an EFC of around 3k, so I have high need. Should I expect a package full of loans, or should I receive some grants? Does W&M gap financial aid? I think the answers are not that good...and I am so honored to have been accepted but it would just suck if I cannot afford to attend :/</p>
<p>Thanks everyone</p>
<p>I want to know too!!!</p>
<p>bump it up</p>
<p>bump bump bump</p>
<p>Maybe I can provide a little information. My son is a junior at W&M (and I am an alum, but that was 25-30 years ago so ancient history). We are out-of-state so pay the big tuition. He has not qualified for need-based aid as our income is too high, although he probably will for next year as his sister will be starting college so we will have two in college. </p>
<p>I imagine that all the regular federal aid programs are available and will be part of your package. Unfortunately, I don’t think W&M offers a lot of institutional need-based aid, nor does it offer much in merit based aid. As a state school that gets very little support from the state - only about 16% of its funds come from the state - it just can’t afford much in merit aid. Nor has it traditionally needed to offer it as it was still able to attract the high calibre students. It looked like a bargain compared to the top-tier privates that it competes with for students. However, as tuitions have skyrocketed, those privates are able to use their endowments to provide significant merit aid that W&M can’t match. My daughter will be choosing from W&M, Bucknell, Lehigh, and U. of Delaware (in-state, low-cost option). With the merit aid she has been offered, Bucknell and Lehigh will cost the same as W&M OOS (assuming the tuition increase bumps it to the $40K mark). W&M has lost its advantage.</p>
<p>If you are in-state, it will be a bargain for you and you should do whatever you can to make it happen. Good luck!</p>
<p>Thank you K9Leader. That does not bode well for me. Wake Forest’s Fin Aid is horrible too, and I wasn’t expecting W&M’s to be that great.</p>
<p>Oh well…I feel like my socioeconomic background will always hold me back from the opportunities that I earn. I hate this.</p>
<p>At least W&M’s acceptance package was nice. I wish I lived in VA.</p>
<p>^i do too… i really want to go to w&m but i don’t think taking 30,000 loans every year would be a good idea…
lets hope for some generous aid, even if chances are slim!</p>
<p>Remember, there are always 3rd party scholarships that you should be applying for! I even got one from my soccer club!</p>
<p>Yeah Here<em>to</em>Help, I have been doing some of those as well. However, I never got any of the big ones (like Coca-Cola), and have just been applying to the small ones like the Lowes and the Best Buy scholarships. However, those are just around $1000-2000, and only for the first year of college. I know every bit helps, but I need A LOT of help :(.</p>
<p>Congratulations and good job on getting a scholarship from your soccer club!</p>
<p>Oh, well thanks! It was last year and one of those one time small ones you were referring to. I was using it as an example that there are possibilities in even the most unlikely of places. Good luck!</p>
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<p>Speaking with a State Delegate, he was rather angry that W&M (and UVA) were listed by Princeton Review as “bargains” for OOS students, which was his rationale for supporting the measure to slap a surcharge on OOS rates. That legislation was killed, ultimately, but should give you an idea of the mood of many of our legislators, that as a “State” school, it should be reserved for “in-state” students, and OOS students shouldn’t be given “bargains” at the expense of in-state students (who presumably paid taxes to support the school.) The school itself would certainly <em>like</em> to provide more aid, but it’s not realistic given the financial situation. </p>
<p>It’s just too bad the state doesn’t fund the school to the same extent as they act like they do. </p>
<p>My idea is to go really “old-school” – put on pirate hats, ‘borrow’ a cruiser from NNS, sail up the Charles River and, uh, “appropriate” some of Harvard’s obscene endowment … ;)</p>
<p>Maybe W&M should step up their endowment and quasi-privatize themselves like UVA. That way they can be less reliant of their (lucky) state for cash, and then maybe they can offer something like accessUVA for everyone.</p>
<p>But I have to say, the Gateway Program is very, very, very nice for in-state students. I wish my state would do something like accessUVA or Gateway. You Virginians are so dang lucky!</p>
<p>Believe me, we’re working on the endowment. UVA is just larger which means more alumni and a greater chance for super rich alumni. But I think W&M actually has less restrictions on it than UVA does. I wouldn’t describe either one as even quasi-privatized. More like state-assisted.</p>
<p>I read an article which practically said UVA said its goal is to be the first almost privately funded state-supported university, if that makes sense. They are trying to be as least dependent as possible from the State of Virginia.</p>
<p>Oh ok, yeah. I think I might have misread/misunderstood. Both schools are quite annoyed with the state for continuously reducing operating budget support. At least (so far) they’re still helping with (some) buildings. </p>
<p>One thing I was surprised to find out is that the 2/3rds in-state rule is actually not a law, or written down anywhere (from what I heard). Its from a tacit agreement between the State and W&M and UVA. The State allows the Unis more freedoms (like freely operating their endowments) as long as they keep the ratio. They also use the ratio as a rational basis for targeting the two flagship schools for greater rate cuts than other schools.</p>
<p>Regarding OOS financial aid - my son was accepted last week and I was a little queasy - thinking we would not get anything. I had not received any info as of today - so I e-mailed. I got a prompt response that they had just finished his award letter, and besides the usual Stafford loans, etc, he received a $12,000 grant! That was a great surprise - better than I expected.</p>
<p>Wow, great job rockvillemom. May I ask what your EFC range was? I just got my award letter from Wake and it was disappointing…and I had an EFC of 3k.</p>
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<p>It is unlikely that you would get $30K in loans every year. If you have need then there are grants, work-study, etc., as RockvilleMom just found out. Don’t give up before you get all the details. Good luck!</p>
<p>Wrong K9Leader. I have a FAFSA EFC of 3k, and both my brother and I will be attending a college next year. I just received my OOS Financial Aid Package:</p>
<p>Pell Grant: $2,200.00
Work Study: $1,400.00
Sub. Stafford Loans: $2,000.00
Unsub. Stafford Loans: $3,500.00
PLUS Loans: $32,000.00</p>
<p>■■■. That pretty much eradicated my dreams of going to W&M. <_<</p>
<p>I wish they just outright denied me.</p>