<p>Is working during the school year enough to pay off a $2500 annuity? If not, would I have to get a job before orientation day?</p>
<p>I would suggest getting a job this summer to cover your student contribution and possibly some pocket money for the school year. The job you get during the year could cover the rest of your spending money. You may find that you do not want to work more than 8 to 10 hours each week as a freshman.</p>
<p>You can do it all in one day on the weekend or if you dont have classes on friday. Its not that hard and it should teach students how to manage their time efficiently. Plus in those 8-10 hours you could be doing research or finishing your hw while getting paid. Its free money! Dont waste your summer on it though</p>
<p>Cornell really expects students to work in the summer. It is good to have work experience even if it is at a retail job. The summer earning expectation rises every year so get used to working summers. Very few college students stay on the couch all summer.</p>
<p>I disagree, I have an internship at yale smdep, which I would never give up for any job. The summer is for spending time on something useful. If you have trouble finding 8-10 free hours at cornell, then there is a problem o-o</p>
<p>If you cannot pay for your student contribution out of pocket, you can easily take out a federal PLUS loan once you get to Cornell. Federal loans are better than other loans due to the low interest rates, etc. While I’d encourage you to work over the summer so that you do not have to take out a loan, do keep this option in mind.</p>
<p>quick question–can’t outside scholarships cover student contribution?</p>
<p>^yea of course haha</p>
<p>they definetely can, they are a better alternative to both loans and work study</p>
<p>okay great, thanks!</p>
<p>scholarships are usually taken into consideration in the financial aid award so they won’t really lower your student contribution.</p>
<p>What I mean is that “generally” if Cornell were to give you a $30,000 grant and your contribution was $2500. You receive a scholarship of $5,000. Cornell will then only give you $25,000 and your contribution will still be $2500.</p>
<p>This is of course a generalization and won’t be accurate in 100% of cases. But think of it this way. Scholarships are deducted before your need is calculated.</p>
<p>^ i thought this too but cornell’s fa website states otherwise: </p>
<p>*Outside Scholarship Policy</p>
<p>Outside scholarships or tuition benefits will reduce the self-help component (loans and work-study) of your financial aid package, but will not reduce the parent contribution. If all the self-help in your award is cancelled, in some cases Cornell grant aid will need to be reduced or cancelled as well.</p>
<p>Scholarship checks received by our office will be divided equally between fall and spring semesters, unless otherwise indicated in writing by the donor.</p>
<p>It’s important to notify the Office of Financial Aid and Student Employment of any outside scholarships you receive, so the appropriate adjustments can be made.*</p>
<p>source: <a href=“https://www.finaid.cornell.edu/types/scholarships/outsidescholarships.cfm[/url]”>https://www.finaid.cornell.edu/types/scholarships/outsidescholarships.cfm</a></p>
<p>^yuppppppppppp :D</p>
<p>Yeah, ummm, that pretty much says what I said.</p>
<p>Scholarship will cancel out the loan and work-study first, then cancel out grants. I generalized it and didn’t go into great detail. But my point was that it will never cancel out the student contribution. Unless of course the scholarship is enough to pay for everything.</p>
<p>Here is an example:</p>
<p>Aid package without scholarship</p>
<p>Cost of attendance $52,982
Student Contribution $ 2,320
Parent Contribution $ 0</p>
<p>Financial Need $50,662</p>
<p>Financial Aid Awarded
Cornell Grant $48,862
Federal Work Study $ 1,800</p>
<p>Total Award $50,662</p>
<p>If you take the same scenario and throw in a $1,000 Scholarship. The only thing that will change is the Federal Work Study will be reduced to $800.</p>
<p>If you take the same scenario and throw in a $5,000 Scholarship. Federal Work study will be reduced to $0 and the Cornell grant will be reduced by $3,200 but the student contribution will not be reduce at all and if there was a parent contribution, it also would not be reduced because those portions are calculated before your need is calculated.</p>
<p>That was the point I was trying to make.</p>
<p>The only time a scholarship would go towards the parent or student contribution would be if there was no financial aid awarded in the first place.</p>
<p>So, bottomline. A scholarship will reduce loans, then federal workstudy/grants and then Cornell grants.</p>
<p>sorry if my first post didn’t get this point across as i meant it.</p>
<p>^ The things I would do for that package.</p>
<p>^ Yeah, I wouldn’t mind having a package like that for my D as well. However, it was just an extreme example to show the effects of a scholarship :-(</p>
<p>Hi, I have a Cornell sophomore, in A&S. We did not get financial aid. However, I would like to know what is a typical student contribution. My D and i have an agreement that she will contribute to my efforts to pay for this education. </p>
<p>Is $2,500 per year typical? Thanks</p>
<p>Yes, $2500 a year is typical of what Cornell will ask a student for contribution.</p>
<p>It’s a reasonable number with part-time work and a job over the summer.</p>
<p>These were the amounts Cornell used for the 2009 - 2010 academic year for student contributions. As you can see, it increases a little each year.</p>
<p>Standard amounts for the 2009-2010 academic year:</p>
<pre><code> $2,320 Freshmen
$2,930 Sophomores
$3,070 Juniors
$3,280 Seniors
</code></pre>
<p>I was under the impression, from the financial aid package, that the on-campus job would be enough to pay the student contribution.</p>
<p>keep in mind the student contribution is not an amount that you must pay to Cornell. it is just an amount that they deduct from the cost of attendance before coming up with the amount of financial need.</p>
<p>There are items (books, transportation and personal expenses) built into the cost of attendance that do not get paid to Cornell.</p>
<p>So if you do not earn enough to cover the contribution, that means you will just spend less on personal expenses etc…</p>
<p>As for working enough to cover the contribution. That all depends on how many hours you work and how much you get per hour.</p>
<p>Also, keep in mind that if work study is part of the aid package, that you would need to work to get that aid.</p>
<p>Generally, the amount of contribution is the amount Cornell thinks a student can easily earn over the summer, not from the on campus job.</p>