<p>In today's Los Angeles Times, there was an article relevant to paying the costs of these same schools. </p>
<p>Sizing</a> up college financial aid packages - Los Angeles Times</p>
<p>From the article:
[quote]
Han, a Garden Grove legal assistant, is the father of an honors student at Pacifica High School in Orange County who was accepted at a litany of great universities -- Berkeley, UCLA, Pomona College and UC San Diego, to name a few. </p>
<p>Because he applied for financial aid, each university sent Han a page-long "financial aid notification" that explains how much it would cost for his daughter, Stephanie, to attend the school. Each also explains how the campus and government might help defray that cost, and the amount they expect the Hans -- both parents and student -- to pay on their own.</p>
<p>But when the Hans sat down to examine the letters for a side-by-side comparison, they were stumped. Each one seemed to use different terms, making it hard to compare costs from one school to the next.</p>
<p>"There is no uniform financial aid letter," said Lynn O'Shaughnessy, San Diego-based author of "The College Solution: A Guide for Everyone Looking for the Right School at the Right Price." "They can be confusing -- sometimes intentionally so -- to make the awards look better."</p>
<p>Pomona College, which estimated its cost of attendance at nearly $50,000 a year, was willing to provide $43,195 in aid, Han said.That included a scholarship for $41,495 and "student employment" of $1,700.</p>
<p>UCLA, which listed a $26,000 cost of attendance, didn't say anything about student employment or loans -- only scholarships and grants for about $18,000.</p>
<p>On first glance, Han said the awards appeared to make the cost of Pomona almost the same as that of UCLA. But on second glance, he realized that he shouldn't count "student employment" as aid, and he didn't know whether the $41,495 scholarship that Pomona offered could be renewed the following year.</p>
<p>UCLA, meanwhile, cobbled together a long list of scholarships for Stephanie. Each of those scholarships was renewable for four years, as long as Stephanie remained a full-time student and maintained certain grades (the specific grade-point average varies by scholarship). Other schools list loans among their aid but don't note the interest rates or whether those loans must be paid while the child is in school or after he or she graduates.
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<p>Like Stanford and Harvard, Pomona recently said they would be offering more generous tuition aid, I am surprised that UCLA offered a better scholarship package to prospective student in the article above. Normally at Pomona you have to apply for state and federal aid first, and then if that doesn't cover your costs, the college will offer additional funding from their endowment.</p>