Quick question on financial aid please?

Paying for College
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<p>Curious, if one were to have parents that make less than $50,000 a year and are unable to support the child through college, then would one be given a full ride? When I say full ride, I mean tuition, food, room/boarding, books, the whole nine yards and etc. This only applies to like big universities (not Harvard or Yale), universities like Duke, Notre Dame, Georgetown, U of Chicago, Northwestern, Tufts, and etc so basically big schools that aren't ivy leagues. Thanks.</p>

<p>P.S. Plus, if one were in this situation, then would a situation like this increase one's chance at college or does it have no affect at all in admission?</p>

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<p>You will need to check...but I don't believe U Chicago or Duke meets full need when awarding financial aid. I could be wrong about that.</p>

<p>Even schools with generous financial aid programs EXPECT a student contribution and that can be several thousand dollars a year.</p>

<p>If the school is truly need blind, your financial situation would not affect your admission chances. If the school is need aware or not need blind..then your ability to pay might impact your admission prospects at some schools. Don't know whether this list includes those kinds of schools.</p>

<p>Truth is...there are not a lot of "full rides" out there at all...not very many.</p>

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<p>Some schools are very generous and award financial aid that covers the cost of attendance, some don't even require that students take out loans. There are not many of these though, and they are among the toughest schools to get into. I am not familiar with the aid policies of the most of the schools you list. Northwestern is very generous for lower-income students, and does not expect students under certain income limits to take out loans. You will have to do a little research on the NU website to learn what those limits are. They will, however, expect a contribution from students from summer earnings and will structure some work-study into your aid package. So even the most generous aid to the neediest students isn't likely to make attendance totally FREE.</p>

<p>You will have to research the aid policies of each college you're interested in. Then you should make sure to apply widely, including to at least one school you are sure to be admitted to and able to afford. Usually this is a public univ. in your state of residence. After you get your acceptances back and the financial aid offers, you can compare the costs of each.</p>

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<p>It is almost impossible to answer this question, since the policies of each college are different and every family's financial situation is also different. Sometimes families can have very low incomes from work, but have other assets, such as a home or savings accounts, that can affect financial aid. The best thing to do is to run your family's numbers through the FAFSA calculator at FAFSA4caster</a> - U.S. Department of Education - that will give you an idea if you will be eligible for a Pell grant, and will also give you an idea of how the federal government will define your family's ability to contribute. Then, go to the paying for college section of ::</a> College Planning Made Easy | Inside Source for College Admissions Requirements and run the numbers again through the financial aid calculator there, using the "institutional methodology."</p>

<p>Typically, if you are eligible for a Pell grant, most colleges and universities will consider you a true "low income" student and work very hard to meet your full need as it is defined by FAFSA and, if applicable, the CSS Profile. However, keep in mind that "meeting full need" does NOT mean you won't have to contribute to your education through work study, student loans, and summer employment. Some families may also find that they will have "less" need at schools that only use the FAFSA, not the CSS Profile.</p>

<p>In terms of the policies of individual schools, a good resource is Project</a> on Student Debt: Home - it's a non-profit organization that has analyzed the policies of all of the "no loan" schools, depending on different family income scenarios. Additionally, I would suggest that, after you have run the numbers through the calculators above, that you contact the financial aid offices of the colleges that interest you and discuss your family's particular situation with them. </p>

<p>Finally, keep in mind that many colleges tend to reserve the BEST financial aid for the most desirable applicants -- the better your grades, test scores, and other personal characteristics, the better your chances of getting good financial aid (and merit scholarships) at a wider variety of colleges. Good luck!</p>