<p>Hey everyone,</p>
<p>I was wondering, in your opinion, how good is Rensselaer's ability to meet need? I'm applying anyways, but I just want to get a feel for their financial aid. </p>
<p>Cheers!</p>
<p>Here’s the link to get you to the 2009-2010 Common Data Set. You can see on page 19 that RPI gave need based financial aid to 877 out of the entering class of 1,337. The average need based award was $33,062 (out of that - $22,418 was in grants and scholarships that would not have to be repaid).</p>
<p>Remember that RPI is a very expensive school, with tuition and fees of $39,165 this year and room and board of $11,145 (plus books, spending money, etc.).</p>
<p>Hope that helps!</p>
<p>[Common</a> Data Sets | Office of the Provost](<a href=“http://provost.rpi.edu/node/43]Common”>http://provost.rpi.edu/node/43)</p>
<p>I’d say RPI aid is pretty good, especially if you qualify for merit aid (in witch case its probably cheaper to go to RPI than an OOS state school). It isn’t as good as the ivies, but its on par to most other good private schools.</p>
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<p>Well, that definitely makes me feel better about things. I’d hate to get into a good school but not be able to attend due to financial reasons!</p>
<p>Has anyone received their financial aid award? If so, can you share what it was? Trying to figure out what is considered good. My son has to make a final decision and not sure if what was awarded is what would be expected other colleges as well. Still waiting to hear from WPI, RIT, and Stonybrook. Thanks.</p>
<p>The following info is from the Peterson’s website (my favorite place for quick info in consistent format). Hopefully you got some example feedback via PM because average info is not as good as real examples. </p>
<p>***NOTE - THE FOLLOWING MAY OR MAY NOT BE HELPFUL because the cross-sections of applicant pool and family finances probably varies by TBD factors. Also I just noticed it is a mix of old data (2008 and 2007), and tuition likely varies. </p>
<p>RPI -
Financial Aid
Of all full-time matriculated undergraduates who enrolled in 2008, 3,934 applied for aid, 3,445 were judged to have need, 1,710 had their need fully met. 1,012 Federal Work-Study jobs (averaging $2030)
In 2008, 1579 non-need-based awards were made
Average percent of need met: 75%
Average financial aid package: $30,635
Average need-based loan: $6644
Average need-based gift aid: $21,503
Average non-need-based aid: $14,530
Average indebtedness upon graduation: $30,375 </p>
<p>WPI -
Financial Aid
Of all full-time matriculated undergraduates who enrolled in 2008, 2,410 applied for aid, 2,156 were judged to have need, 718 had their need fully met. 583 Federal Work-Study jobs (averaging $1193)
In 2008, 799 non-need-based awards were made
Average percent of need met: 67%
Average financial aid package: $25,876
Average need-based loan: $6944
Average need-based gift aid: $16,896
Average non-need-based aid: $14,155
Average indebtedness upon graduation: $37,175</p>
<p>RIT -
Financial Aid
Of all full-time matriculated undergraduates who enrolled in 2007, 8,484 applied for aid, 7,616 were judged to have need, 5,980 had their need fully met. 2,100 Federal Work-Study jobs (averaging $2400). 4,700 state and other part-time jobs (averaging $2400)
In 2007, 1100 non-need-based awards were made
Average percent of need met: 88%
Average financial aid package: $19,200
Average need-based loan: $5500
Average need-based gift aid: $13,100
Average non-need-based aid: $7000 </p>
<p>STONYBROOK - I skipped because they did not break down NY vs OOS</p>
<p>That’s so helpful. Can you please advise whether the total means the total per year, or the total for the entire four years. I am tending to agree with some of the discussion I have seen that applying ED is a very bad idea. There is no opportunity to compare financial aid awards and ask for a review. I really expected better. I know they will let us out if we cannot afford it, but it would have been nice to know if there could be a higher offer. I did appeal and they gave a bit more, but not much. At the orientation, they made it sound like they gave their best to the ED applicants as being those who really wanted RPI. Now I am not so sure.</p>
<p>cleomom - I use Peterson’s website for general and ballpark info. Do read my caveats (I almost didn’t post it in case misleading). I think those are yearly figures, but not certain. I just did cut/paste, in case it provided any clues. </p>
<p>I will try to paste the Peterson’s url here so you can read more of their definitions etc - [Search</a> for Colleges and Universities, Graduate Schools, Online Degree, Private Schools - Peterson’s](<a href=“http://www.petersons.com/]Search”>http://www.petersons.com/). Search on college name, then click on “Cost and Financial Aid” link at left. </p>
<p>Yet another caveat - I am starting to hear about more schools scaling back or eliminating merit scholarships due to stockmarket crash. So data from prior years may be more optimistic than current offers. </p>
<p>ED has pros and cons. It definitely limits the ability to compare offers. It’s too bad RPI wasn’t clearer about that at orientation. Some schools flat out discourage ED, except for those those who really want to come regardless of cost.</p>
<p>Another data point…</p>
<p>It seems that it is difficult for mere mortal students to get into MIT. Nonetheless they seem to be the only school with a financial aid calculator on the web, not linked to applicant status. So it may be worth a whirl.
[MIT</a> - Student Financial Services](<a href=“http://web.mit.edu/sfs/afford/financial_aid_calculator.html]MIT”>MIT Student Financial Services)</p>
<p>It shows EFC by the two methods. I think the FM/ FAFSA part is linked to the govt aid, and IM = Institutional.</p>
<p>What about international students?</p>
<p>confused92 - it’s pretty good for international students (though obviously not as good as they are to domestic students)</p>