<p>Hello everyone. So, as the title suggests, is WPI generous with need-based awards? My EFC is very low (around $3000), so if I am to study in WPI, I will need a hefty financial aid package. My stats aren't anything exceptional, so I don't think I'll get much through merit based scholarships (perhaps 15k at most). So, as you can see, I will have to rely heavily on need-based awards. Do you guys have any idea as to how much need-based aid I might be offered by WPI? If any of you are past applicants with similar EFC, please let me know how much you guys received through need-based awards.</p>
<p>Also, how accurate is the net price calculator?</p>
<p>I am not sure but I used it right after your post and I did not like the answer it gave me.</p>
<p>^Haha…neither did I.</p>
<p>According to the Collegeboard Blue book that my GC has, WPI meets about 75% need normally.</p>
<p>Since they use the CSS for WPI funded aid, and that includes home equity, I think we are screwed. Did the NPC again and it says we get no grants and $9000 in loans and work study.</p>
<p>Argh…</p>
<p>@aglasson - WPI might meet about 75% need, but it seems like they meet most of the need through loans and not through grants. </p>
<p>@GamerGal27 - Same here. According to the NPC, the only grant I can expect to get is the Pell Grant, and other than that they are only offering loans and work study worth a total of $9000. It is probably my parents’ home value which is causing all the problems.
But I don’t really get it. Why should the home value add to my EFC? Do they expect my parents to sell our home for the purpose of financing my college education?</p>
<p>They expect your parents to tap into the home equity at a rate of 6% of the equity. Also we have a 529 plan with around $90k in it (two kids in college next year) which is boosting our EFC.</p>
<p>To the original post - no, WPI is NOT generous with financial aid. Son got mostly loans. BIG gap (like $15K) between what WPI awarded and his other EA schools.</p>
<p>For what it’s worth, WPI was one of the few colleges that gave us additional FA upon request when we appealed. It still wasn’t the best package that we received, and my son didn’t end up attending, but they did try to grease the wheel a bit when we responded that the FA offered wasn’t enough.</p>