Limited Aid

Colleges and Universities A-Z Northwestern University
1

<p>Son has been accepted. We don't qualify for need-based aid, but son and/or we would have to borrow quite a bit to bridge the gap between, let's say, in-state UofI tuition and NU. </p>

<p>Other schools that accepted him have offered anywhere from $5K to $15K per-year, merit based aid. But not NU. Finaid letter only showed non-subsidized Stafford loan (amount = freshman limit). Sort of their way of saying, "Borrow up, starting with a little Stafford money and working your way up to a PLUS loan. Unlike Wash U., we don't help finance, either..."</p>

<p>We'd hate to rule out NU on the basis of cost, but graduating with a mountain of debt is daunting, as No. 2 child is also a few years away from college. Are we overlooking any sources (other than non-NU merit scholarships?)</p>

<p>Thanks for any thoughts.</p>

2

<p>NU is known to be stringy, like NYU. I personally wouldn’t pick NW, which is the reason why my S didn’t apply.</p>

3

<p>NU is known to be generous but I’m sorry to hear they were stingy in your case.</p>

4

<p>yes, from what I’ve heard NU is either very generous or not at all, I was offered the same package as you (despite the fact that it was about 5x my EFC) and I’m waiting on the appeal</p>

5

<p>I believe based on experience with both S and now D that NU FA calculator is heavily based on the Institutional methodology which factors assets including equity in your primary residence. So if you have been conservative and have paid off your mortgage NU now expects you to go back into debt to put your kid through school. If you have been living day to day or have lived the high life taking vacations, buying boats, fancy car’s, etc… NU may give you more money and expect less from your parents. Nobody said life is fair. </p>

<p>For S he received $12K more in gift aid from Notre Dame vs NU. Now D has been offered $8-$14K less from NU vs her other accepted schools (still waiting on Notre Dame).</p>

6

<p>My comment is based on two different kids I personally know well. They are all excellent in their academics.</p>

7

<p>Thanks all for the input. </p>

<p>I am not sure it’s worth an appeal to NU. The appeal form looks for information on change in income, recent unemployment, aid to family members, etc, none of which apply. Analysis of our monthly expenses would show nothing out of the usual: Propensity toward retirement savings; a moderate mortgage (that reflects a rolled-in home equity loan for an add-on family room); fairly typical consumer spending, including band trips and scout camps; and big taxes all around. No boats, no recreational sports, no home theater, no fancy vacations, and two aging cars. JCPenney jeans on every member of the family, and a Volvo in the driveway that is 15+ and leaks oil). </p>

<p>No complaints, either, but this side of “need” is not the high life. Maybe we’re a family whose income was quite modest until the past five or so years, and whose standard of living and on-hand cash still doesn’t quite reflect a larger salary.</p>

<p>Wash U only came up with $5K scholarship so I can’t say they were a lot stingier. GWU came up with $15, but some of that nets against higher tuition, and I can’t say the school is in quite the same league. Miami of Ohio automatic $12K based on ACT. Again, not the same league. Son’s interest is economics and it’s hard to argue against NU’s economics program and potential success of its grads.</p>

<p>Still, it may be worth a call to NU to see if an appeal would have any chances.</p>

<p>I will say, as an aside, Wash U’s overall communications, materials, finaid packet, self-administered parent loan program (with lower interest rate than Fed unsubsidized loans–6.25 vs 6.9), etc., are superior to any other school’s. They’re like the “AVIS” of the bunch…“we try harder.” If academics matched how well this school runs itself and speaks about itself, they’d be at the top of the heap! Very impressive all around. </p>

<p>At least Northwestern’s tone is straight from the start: No merit-based aid, don’t even think about it.</p>

8

<p>

Merit based aid is not necessarily all that it is cracked up to be. My son applied to both NU and U-M and was given a whopping $1500/year for merit aid for his 4.0 UW GPA and 35 on his ACT from U-M. Also, as far as family contribution goes, it will be higher than your EFC as NU expects you to work a summer job to help pay school costs. Our contribution was about 3K higher than our EFC so I imagine that is what they expect the student to earn over the summer.</p>

9

<p>PS</p>

<p>Didn’t mean to ignore son’s qualifications…outstanding student at a very demanding HS (among top 3 in the state), consistently stellar GPA on mostly Honors-level courseload, plenty of AP credits to come, 34 ACT (perfect math score), section leader in band, Eagle Scout, good reco’s. Wants to study econ and has a dream to go to law school. Accepted at NU, WashU, W&M, GWU, UofI/Honors, Miami; waitlisted UVA (along with all his friends…)</p>

<p>And yes, he will work a summer job! Caddied golf the past few years but now will get on an hourly job.</p>