<p>I haven't been paying attention to Caltech at all since sending in the app... it kind of fell out of consideration and I half-assed the application, so getting in was a surprise.</p>
<p>My question is: does Caltech do any kind of big merit scholarships? I know they offer some merit money, but I'm assuming they're just sprinkles on top of that $45000 cake.</p>
<p>Thanks, dLo. I don't exactly fit those criteria, though...</p>
<p>Most of the merit aid at Caltech is in upperclass merit awards (other than the Axline scholarships). Also, it's only a $30000 cake.</p>
<p>Yeah, we give out about $1 Million/year in Upperclass merit awards (there are about 700 students who would technically be eligible to apply), so if you do well after you get here, that certainly is an option. </p>
<p>Galen</p>
<p>"Also, it's only a $30000 cake."</p>
<p>Not. Cost of attendance is about $42,000, and that almost assuredly will go up in the coming 4 years.</p>
<p>ColoradoKid, how do you figure that? My parents haven't paid more than 10,000 a term (and there are three terms in a year) in the last three years, and I don't get any sort of aid.</p>
<p>How do I figure that? I didn't have to figure it at all. Caltech very graciously told us in their financial aid letter.</p>
<p>Regarding tuition, here's some updates at other schools:</p>
<p>Harvard: " Undergraduate tuition and fees will rise next year by 4.5 percentmarking the first time in the Colleges history that yearly costs will be over $40,000, the College announced yesterday.</p>
<p>The hike in the overall costwhich brings tuition, room, board, the health services fee, and the student services fee to $41,675is the lowest rate of increase since 2001, when tuition and fees increased by 3.5 percent."</p>
<p>"Princeton announced its total fee package will increase by five percent next year, Brown stated a 4.9 percent hike, and Dartmouth announced a 4.8 percent increase.</p>
<p>These three schools and Harvard will cost between $40,000 and $42,000 for the upcoming academic year
"
<a href="http://www.thecrimson.com/today/article506710.html%5B/url%5D">http://www.thecrimson.com/today/article506710.html</a></p>
<p>Caltech's upperclass merit scholarship form:
<a href="http://www.finaid.caltech.edu/UpperClassMeritAwardMarch2005.html%5B/url%5D">http://www.finaid.caltech.edu/UpperClassMeritAwardMarch2005.html</a></p>
<p>A college education, I believe, is what economists would call a status good. It disobeys the law of demand: as tuition goes up, demand for the education increases.</p>
<p>"Higher Education: The Ultimate Winner Take All Market? [Robert Frank]</p>
<p>"How do I figure that? I didn't have to figure it at all. Caltech very graciously told us in their financial aid letter."</p>
<p>Hmm... well, I checked with my parents (to make sure I wasn't delusional about the bills I'd seen), and none of us can figure where they came up with the $42,000 figure. We haven't paid a single tuition bill (including housing) over 10,000, and with three of those a year, that's 30,000. That doesn't cover food and books, but that's less than 5000 per year extra. </p>
<p>So, with all costs together (including travel expenses, food, housing, books, and tuition), I pay 35,000 a year, with no financial aid.</p>
<p>Caltech still has their old 2004-2005 expenses posted at their finaid website but even that is way more than what you think it is alleya, $38,421. Check it out at: </p>
<p><a href="http://www.finaid.caltech.edu/expenses.html%5B/url%5D">http://www.finaid.caltech.edu/expenses.html</a></p>
<p>They've jacked up the costs for the upcoming year over that, obviously.</p>
<p>Ok, the difference between that and mine is the food and books. The books and supplies cost they predict is too low -- you need to budget 500 a term, for a total of 1500 a year. Of course, this varies per major. In CS I can get by on 1000 a year, but my biology friends need 1500 and sometimes more for all their textbooks. As for food, their estimate is much higher than mine. One thing that helps me is that I'm not on board, so I just have groceries which cost me ~50 a week, for a total of 1500 a year, which is much less than their estimated 5500. Even on board, almost no one spends more than 25 a week on food which totals to about 4000 a year for food on board (still less than the 5500 they predict). </p>
<p>So really the major difference between the two estimates is whether or not you're on board, since it's so horribly expensive.</p>
<p>Here are the specifics:</p>
<p>Total costs - 41619</p>
<p>tuition - 27309
room/board - 8814
other meals - 1926
books - 1047
personal - 1923
travel - 600</p>