Should I give up a full tuition scholarship?

Paying for College
101

Syracuse COA (including tuition, housing (triple), meal (2 meal a day plan), transportation, books, and “other educational expenses” listed in my financial aid package): $63,846.00 / yr

Scholarship + Pell Grant = -$47,592.00

=$16,254 remaining

-$3200 I will save up from work
-$5500 parent contribution
-$5500 (student loans Federal Direct Subsidized and Unsubsidized)
-$3200 Work Study (I know I will not earn this until later but I could apply to my second semester and daily expenses)

=-1,146 left over

**Also, I was given a $2000 Perkins Loan as an option in my financial aid package, I was made aware that this will be going away soon and have requested need based financial aid to replace it, so currently waiting on that.

I have not confirmed whether my insurance meets the requirements.

I am fine eating two meals a day because that is usually how I eat at home. I have a fruit in the morning and have a good lunch and dinner.

I also applied for multiple scholarships and am a semi finalist for one of them but want to find a way to pay for Syracuse should I not receive anything.

Also, the plot thickens, I was accepted to the University of Florida yesterday where the estimated COA is $21,251 (although I have been told by many that it is much lower) However, I was granted admission to their Academy of Innovation, a program where you don’t take classes in the fall but in Spring/Summer and have to minor in innovation. They are slightly higher ranked though. I haven’t received the financial aid package but am even more confused now with the added variable.

If anything can’t I put down the deposit (mine is being waived) to ensure my spot and back out should I receive better financial aid? I would, of course, notify the school first before pursuing any other opportunities.

102

The plot thickens… usually you can deposit and change your mind. Make sure since yours is waived, but it is usually ok as long as you only deposit to one at a time.

Don’t forget to call Syracuse FA to ask for a bit more FA!!

103

UF Innovation Academy can be tricky, because not all classes are offered in the summer, which makes scheduling difficult. Syracuse is definitely better for your professional goals.
UF is better than FIU obviously if it comes down to that. Also, it depends on costs, but right now it looks like UF is more expensive than Syracuse.

You could put down the deposit to ensure your spot, especially with housing. You have till ay 1st to make a decision and let the universities know (most public universities know this.)

104

Not sure any of this helps, but see if any fit for you:
http://financialaid.syr.edu/typesofaid/scholarships/outside/

105

Keep in mind that you have to report to Syracuse any outside scholarships you are awarded. This decreases your financial need thus may decrease any need-based scholarship from Syracuse.

106

@KaliIsabel,

Did Syracuse clarify as to whether or not you need to make a decision this week or if you have until May 1 to make a decision?

If you must make your decision this week and you hold your spot, this means that you are accepting ED and must withdraw all other applications. Any decisions you currently have on the table are no longer in play.

107

And please talk to someone who can advise you about your current insurance coverage meeting Syracuse’s requirements.

And that tuition and fees will be covered for 4 years with a 2.75 GPA and adjusts with yearly increases.

108

@HRSMom thank you for that scholarship resource! :slight_smile:

109

Called the office and they said the Perkins Loan will still be in effect for the 2017-2018 school year and that they still don’t know of any replacement that will be put in place. I think the chance of getting need-based aid to cover that freshman year would be unlikely since the loan option will still be available.

110

Do you have to make a decision tomorrow, or will they give you until May 1?

111

“I have to let Syracuse know by February 15 because I applied early”

112

Right now, Syracuse is cheaper than UF (and is a better program).

113

It appears that I do, but they’re waiving my deposit and said I could keep my applications at other schools active, so I think I am going to do it.

114

I think that’s a great deal, @KaliIsabel. I would too. Good luck. :slight_smile:

115

It’s great they suggested that. This way you get to wait a bit till you know more and you’ve got a guarantee there. Congratulations on making a tough choice.

116

Whether you get need based aid in sophomore year and later, to help replace the Perkins loan, might depend on the FAFSA EFC. Did your parents earn more /less in 2016 compared to 2015?

Also if your scholarship covers future tuition/fees increases, they could say that you can borrow $1,000 more in sophomore year, and $2,000 more in junior/senior year.

But it would be helpful to clarify exactly what you can expect to receive in aid in the next few years.

Also, does anyone know if there is affordable student housing off campus around Syracuse U, you might then be able to save money on housing and food in later years.

117

Hello! I know this has been a tough decision for you and my question is completely irrelevant, but I was wondering if you could list the stats that helped get you that scholarship? If you have a certain personal story that may have helped that you don’t want to get into detail about, but I am very curious about what it takes to receive such a huge scholarship.
Thank you and congratulations!

118

Syracuse University would look better as a college degree rather than your local community will pay off if you attend SU for the $14,000 a year. It pays itself