Parents: How's your need-based and/or merit aid after year 1?

Parents Forum
1

<p>For many families (including mine!), money, whether need-based, merit-based, or both, is a huge factor in deciding which college to choose. However, students and their families are making what is often a four year decision based on the offer for one year. Therefore, it may be prudent to ask parents of rising sophmores and up if the aid they received freshman year has remained constant or not. While I recognize that each case is unique, it may be interesting to look at the general trends.</p>

<p>For need-based aid: If your need-based aid changed, did your EFC as well? Why? Was the change in EFC reasonable? Did the composition of your aid (amount and type of loans and grants change)? Were you given a reason? Did you appeal?</p>

<p>For merit-based aid (athletic, academic, or other "talent-based" awards): Did the amount of your award remain constant? Did your award amount vary with the cost of tuition or attendance? Was renewal automatic? Did your child struggle to meet the requirements for renewal? Was there mitigating circumstances (sports injury, illness, etc)? Was there a probationary peroid offered?</p>

<p>Thanks!</p>

<hr>

<p>My case:</p>

<p>School: University of Montana</p>

<p>Type of aid: Merit aid, didn't apply for need-based aid</p>

<p>1.
Amount: Near full-ride (in-state tuition waiver plus $7,500 stipend)
Type: Academic
Requirements for renewal (4 years possible): Active enrollment in honors college, 3.0 cumulative GPA
Automatic: No. Renewal application required an unoffical transcript, a listing of all honors courses taken, currently taking, or planned in the upcoming semester, a resume of activities and honors, explanations for any incompletes, an essay, and a letter of recommendation from a professor. Students that only notified after Spring grades are given out and evaluated. However, I was told that in the absence of a sub-3.0 GPA, lack of honors courses, or other red-flags, renewal is usually granted. I sure hope it will be in my case!</p>

<p>Variable: Yes. Value increases as in-state increases.</p>

<p>2.
Amount: $2,500 per year </p>

<p>Type: Housing scholarship for out-of-state students</p>

<p>Requirements for renewal (4 years possible): 2.5 cumulative GPA, residence in dorms or school-supported apartments (Greek houses not included).</p>

<p>Automatic: Yes, with the submission of a form indicating intent to live in approved housing for the next academic year (which I am).</p>

<p>Variable: No.</p>

2

<p>bump..............</p>

3

<p>son at Pomona, stayed very consistent, of course increased a lot when sibling entered college. Hers at a private college remained the same as well. If a college decreases after freshman yr you would hear about it on these boards. It is always wise to ask fin aid at the respective schools their policy though.
Best of luck!</p>

4

<p>We haven't seen the aid package for next year yet - I'm sitting on pins and needles hoping its as good as this year. (Of course, there's a chance DS has received it and not forward to mom..oh for a child that would communicate better!)</p>

5

<p>S just received his 4th aid award for Notre Dame. (They're need-based only for regular students.) Our EFC has done down along with our income (Michigan economy) and his award reflects that. They say up front that students are expected to cover a little more of their own expenses each year and that has held true - but the increases are reasonable.</p>

<p>D is a sophomore at Northwestern. Haven't seen her award for junior year yet, but her EFC went down and I expect the award to reflect that. They said from the beginning that we can expect the awards to be consistent as long as our income doesn't significantly change. That did hold true for her sophomore award. NU is also need-based only and their aid is slightly better than ND.</p>

6

<p>Harvard is consistent from year to year as long as your financial position doesn't change radically.</p>

7

<p>FA aid improved (both years) as EFC improved for FA, but not for me!</p>

8

<p>Daughter attends Oberlin Conservatory with a merit scholarship. Costs have gone up about $2K per year, but scholarship has not changed (they made that clear from the start.) Conditions for maintaining the scholarship are playing in the orchestra and maintaining a 3.0 GPA. No problem with either through her first two years.</p>

9

<p>I'm at the University of Chicago with 1/3 tuition merit scholarship and no need-based aid. I managed to keep that 1.75, so I'll get the money again next year. ;)</p>

10

<p>Son received merit based aid, guaranteed amount for all four years. So far, finished first year and maintained the GPA to keep getting the dough. Was told that if he did not, he would be home attending community college...guess that was enough to motivate him.</p>

11

<p>Grinnell guaranteed my son's merit aid for 4 years and said it would increase if tuition increased.</p>

12

<p>
[quote]
Grinnell guaranteed my son's merit aid for 4 years and said it would increase if tuition increased.

[/quote]
</p>

<p>IF tuition increases? Ha!</p>

13

<p>No need based aid here</p>

<p>Scholarship #1 (NROTC) covers tution,books, fees and will increase as tutition increases.
Must complete required classes satisfactorally, including physical requirements and maintain 2.5 gpa</p>

<p>Scholarship #2 (University merit) set amount guaranteed for 4 years as long as 3.0 gpa maintained</p>

<p>Scholarship #3 ( from department of S's major) actually increased by $500 between freshman and soph. year. Guaranteed as long as S keeps 3.2 gpa.</p>

<p>After 2 years all scholarships are still intact and will be renewed for Jr. year.</p>

14

<p>Need-based aid at UChicago - EFC flat, grant aid increased proportionally with tuition increase.</p>

15

<p>Son's merit aid at Grinnell stays the same for four years - though no increase for him as tuition goes up. Generally people are rather sour about the tuition hikes (steeper for future students), especially in light of the school's hefty endowment.</p>

16

<p>We just got our son's financial aid statement for his sophomore year at Roanoke College. Tuition and room went up $2,900 but board (meals) went down $480. The room cost went up $1405 partly because he'll be in a single. Tuition at Roanoke is $25,550, room is $5,207 and board is $3,870 for a total of $35,577.</p>

<p>His merit aid is the same - $16,940. His work study vanished and so did the subsidized part of the Stafford Loan. He's unsubsidized now. This is due to his sister graduating from her college. Looks like we have lots more money. Hmm, where is that? Anyway, still a good deal as far as we're concerned. Son had a great first year and is looking forward to the fall.</p>