<p>Does anyone have any idea how much aid I would get with an income <40,000?</p>
<p>Full ride except for work study and expected summer savings. Maximum out of pocket would be maybe $5k a year.</p>
<p>with an income of <40,000 you would get a full ride</p>
<p>Is this $3000 loan cap separate from the "Alternate Loan" that they're dishing out?</p>
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Maximum out of pocket would be maybe $5k a year.
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<p>lets say that i fall under <50,000, and i dont want to do work study +pay for summer savings, what type of loan would cornell make available to me? subsided? unsubsided? parent loan plus?</p>
<p>blddrake: the alternative loan is a private loan that is not need-based. So, you needed additional loan money but either already have the maximum federal loans or did not qualify for the federal loans (which are need based)</p>
<p>donjuan: I chose not to use my work study allotment my first year here and didn't not need additional loan money. You can borrow non need-based loans to cover the parent contribution and your summer savings expectation. It depends on who would take out the loan. If your parents do, then you can get a PLUS loan. If you take out the money you would either get an unsubsidized loan or private loan (if you for some reason max out the allotment of the unsubsidized loan).</p>
<p>I did not get a full ride with <40,000. I didn't even get 1/5 O_O. am I suppose to get a full ride?</p>
<p>^ I got mine if I am conceiving the term "full ride" correctly.</p>
<p>My family makes <$40,000 and zero assets (we rent an apt), and we ended up having to pay ~$4000 from family contribution and ~$4000 out of student's pocket. Should I appeal this? I, as the student, have only $800 in savings...</p>
<p>was the "out of students pocket" thing coming from work study + summer job? because that sounds about right. The parent contribution is a bit high though. How many members are in your family?</p>
<p><40000 is not full ride. a friend of mine's put 18000 for income and has to pay 8000.</p>
<p>I live only with my mother. I filed non-custodial parent waiver form since father's out of the picture. I'm also an only child... Maybe that's why the family contribution is high? At first I was a bit taken aback by the fact that Cornell's asking for $4000 from students (yes, combination of summer+work study), since Duke asked for $1900 from family and $0 from me. But I guess I've arrived at the conclusion that Cornell's a place where they allow students to mature whereas Duke offered to hold my hand throughout the whole process. Any thoughts, anyone?</p>
<p>I think that's a fair sense of Cornell's philosophy towards financial aid. When Cornell was first founded, work-study for students constituted actually helping to build the buildings of the Arts Quad. </p>
<p>Of any of the top private schools, Cornell definitely has the most blue-collar or middle-class feel to it, embodied in both its pragmatic motto, as well as Carl Becker's take that Cornell has an ethos of 'freedom and responsibility'. This is what the Cornell Tradition program is all about, and the contract colleges help as well.</p>
<p>Honestly, I'm a little bit surprised that most schools don't require a $3-4000 a year self-help package of all aid recipients. Work-study has actually been shown to improve student outcomes, not hinder it.</p>
<p>The $4000 family contribution is unfortunate, but probably reflects Cornell's thought that your family would be spending money on food, shelter, clothing, etc. on you anyway.</p>
<p>The most frustrating thing about financial aid packages at Cornell is that Cornell extends itself much more than most of its peer schools in giving aid. The problem is that Cornell not only has more students to help, but that Cornell students also tend to be more socioeconomically diverse.</p>
<p>You might find the following article interesting:</p>
<p>Cornell basically expects you to work to support your education. Their philosophy is that if you are dirt poor, then your family can't contribute anything. HOWEVER, being poor doesn't hinder your ability to get a job for the summer and during the school year (most students get some sort of job on campus). In other words, they expect you to take some responsibility (and let's face it, $4000 out of a $46,000 annual cost is barely anything) for your education.</p>
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I live only with my mother. I filed non-custodial parent waiver form since father's out of the picture
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<p>wow, i am under the same situation. Last year, i was accepted to cornell and my income was 19,000 with a family of four (single parent household), and cornell gave me ~9,000 in loans to take out. I was like hell no! so i didnt go. This year i heard about the "no loans" thing so i am hoping to take advg of it by applying again, but it looks like its not doing much at all...</p>
<p>C-Red:</p>
<p>While Cornell may have slightly higher percentage of Pell Grantees (possibly instate attending Land-Grant colleges, Big Red still has a Frosh class that is 57% full pay-- not exactly "blue-collar" or "middle class". Btw: Yale is 58% full pay.</p>
<p>Since the tax returns are due to Cornell by may 15th, Im wondering if I need to send them the non custodial parent tax return. I should since I sent his the first time right?</p>
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While Cornell may have slightly higher percentage of Pell Grantees (possibly instate attending Land-Grant colleges, Big Red still has a Frosh class that is 57% full pay-- not exactly "blue-collar" or "middle class". Btw: Yale is 58% full pay.
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<p>Apples to oranges. </p>
<p>First, roughly 2,000 students at Cornell are in-state students in the contract colleges, meaning that their cost of attendance are roughly $15k less. So while they may be "full pay" at Cornell in the contract colleges, a fair amount of them would probably be receiving some form of financial aid at Yale.</p>
<p>Secondly, in recent years Yale, Harvard, and Princeton have substantially improved their financial aid packages relative to Cornell. At Harvard, even if your family makes 180k a year, you would still enjoy a substantial subsidy. At Cornell, you will be paying the full sticker price. </p>
<p>Coincidentally, the evidence I have seen is that the Pell Grant distribution is pretty uniform across the different Cornell colleges. </p>
<p>I'm not denying the fact that a lot of the students at Cornell come from extremely wealthy families. I'm just suggesting that Cornell has more of a middle class feel to it -- both demographically and in pervasive student culture -- than the other Ivies, and even surpasses some state schools as well (e.g. UVa, Michigan).</p>
<p>Question: Does this new financial aid policy apply to just incoming freshmen or do current students get the same benefits? So a current freshmen would get 3 years with the new plan?</p>
<p>Anyone have info on how this policy affects current students? Just trying to find out how much we regret not going with Cornell as the package last year was not at all workable.</p>