<p>When I was accepted to Tulane, I got their 25k/yr. scholarship. While 25k is a ton of money, it still makes the cost of Tulane about 20-25k with the rest of tuition/room and board/other expenses. </p>
<p>I've applied for financial aid but my question is whether or not I'll still be considered for financial aid because of this scholarship. Tulane says they cover about 95% of demonstrated need, so can I still expect some good financial aid from them? (25k is not all of our demonstrated need, according to FAFSA.)</p>
<p>I've really fallen in love with Tulane, and I don't want to have to mark it off my list because of money.</p>
<p>I’m not sure about the 95%, but when it comes to covering financial need, any need based aid is caclulated AFTER any merit based aid such as your $25K scholarship. They should cover 95% of the costs left after your scholarship and EFC added together. If your EFC and scholarship add up to more than the cost of Tulane, as in our case, you will get no need based aid.</p>
<p>So AVHS, if I understand this right (I was lucky enough not to have to go through FAFSA and all that stuff), if oxy’s EFC was, say, $10,000 and Tulane costs $52,000, that leaves $42,000. Then they subtract the scholarship, leaving $17,000. Let’s even say he is NMF and gets $2,000 from that, I assume they subtract that also and that leaves $15,000. So Tulane, on average, will cover 95% of that $15,000 with loans, work-study, and/or other grants? Is that how it works?</p>
<p>That’s the way I see it. Of course if the family qualifies for the No Loans ($75,000 or less family income) Tulane program, there would be no loans involved. Best to check with a Tulane FA counselor.</p>
<p>Thanks fallenchemist and AVHS Dad, that makes me feel better.</p>
<p>My family does make over 75k by a few thousand, but my family’s EFC is somewhere in the neighborhood of 5k, so I’m hoping a lot of that will be covered by loans/work-study/general aid. </p>
<p>Of course, I’m going to have to wait for all financial aid offers to come in before I make a decision, but it’s good to know that the scholarship doesn’t rule me out of financial aid at Tulane.</p>
<p>Remember that the FAFSA gets refiled and the EFC gets recalculated every year. If your family’s circumstances change and the EFC goes above whatever need based aid you got, the merit scholarship is unchanged for all four years.</p>