<p>On the letter it says 11,000 WPI Scholarship. Is this merit scholarship or need based?
Plus other federal grants and loans. And the Total Resident Award is 24,000.
Is that simply means I will get 24,000 in my freshmen year? It doesn't say this is for one semester or for a year.</p>
<p>Since the COA is around 52,000, is that mean we need to find someway to pay for the rest of 28,000 even if we couldn't afford it?</p>
<p>WPI is on the quarter system, you typically attend for 3 quarters per year. Your award would be for the 3 quarters.</p>
<p>Would you be willing to post the details of your FA award? It would help in evaluating your package.</p>
<p>If you need to compare the WPI aid package with a couple of others, try this calculator: [FinAid</a> | Calculators | Advanced Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Your Guide for College Financial Aid - Finaid)</p>
<p>11000 wpi scholarship
800 federal pell grant
3000 federal supplemental educational opportunity grant
2750 federal perkins loan
800 federal work study
150 community sevice work study
3500 federal direct subsidized loan
2000 unsubsidized loan</p>
<p>24,000 total</p>
<p>so no that i need to find a way to fill up 30,000 gap. Is it worth it to go comparing to Stony Brook which is about 7000/year.</p>
<p>Thanks for your help :)</p>
<p>I see $14,800 in free money, $950 in work study, and $8250 in loans.</p>
<p>So you need to come up with $38,250 in loans or your own money. They’ve offered you $8250 in federal loans, which means you have to find another $30,000 somewhere.</p>
<p>If you have to borrow the $30,000, then this school is not affordable to you - no undergrad is worth almost $160,000 in loans.</p>
<p>It is not worth it to go here if you can to go to Stony Brook for only $7,000.</p>
<p>what if we can some how pay more every year say 10-15k. Is it worth it for 15-20k loans?</p>
<p>15k to 20k each year in loans would mean 60k to 80k in total debt. This is too much. Run the loan re-payment calculators at the FinAid.org website, and see what it would come to each month for ten long years. Do you really want to pay that much for that long?</p>
<p>It’s not just $60K to $80K, the package already includes $8250 of federal loans. The real total is more like $90K to $110K.</p>
<p>I would not let my child take on that kind of debt, nor would I take it on.</p>
<p>Thx for your help. I guess I have to think about it. Because I don’t really like stony brook…
A friend of mine got 28500 from wpi last year and she was from China. How come an international student get more financial aid than non-international student? Because she is a girl?</p>
<p>WPI doesn’t have a good reputation regarding financial aid. That was why neither of my engineering bound boys even applied there.</p>
<p>There are schools with good engineering programs that give more aid. My son was just admitted to Lehigh with an excellent package, for example.</p>
<p>Blance… not uncommon to see these stories of aid to internationals being greater than that to US citizens. They don’t have a huge endowment, so not sure why they have this desire to give internationals great aid. But it’s a private schools so they can do what the want I guess. Or maybe we just don’t have enough smart people in the US to give this aid to.</p>
<p>Balance,</p>
<p>Just because your friend got 28k does not mean that every international or every female applicant got that kind of money. She might have the ONLY scholarship like that at WPI.</p>
<p>Unless WPI publishes its financial aid and scholarship policies on its website, you have no way to know what the criteria were for determining that your friend would qualify for that kind of aid. Don’t waste your energy trying to understand it. Move on.</p>
<p>
You never know unless you apply. My S got a decent package from WPI, and zip from Lehigh.</p>
<p>*what if we can some how pay more every year say 10-15k. Is it worth it for 15-20k loans? *</p>
<p>No, that is too much. And for a Pell family, it’s very doubtful that your family can come up with an additional $10k-15k anyway. That’s an extra $1000 or so per month.</p>