<p>After being on a waitlist for almost a month, few hours ago, I've learned about my acceptance to Occidental college, which, I have to say, has made my year. About to begin a large scale celebration, I came to realize, however, that I completely forgot to ask the admission officer about the details of my financial aid package. It's too late to call financial aid office today, so I hope that some of you will make the wait until tomorrow a little less torturous by answering the following question: </p>
<p>My css profile states that I can pay only $5,000, which will be contributed by a sponsor. Since I was offered an admission, I assume that Oxy intends to meet 100% of my demonstrated need, as their website states (am I right in this assumption?). One thing that worries me the most is the exact composition of the aid package. In particular, how likely is it that its substantial part will be loans, considering the fact that I am 1) an international students and 2) based on financial aid documents I filed, my expected family's contribution is 0. </p>
<p>Financial aid is tricky and the policies vary so much between universities and a student’s personal circumstances that we really cannot make any predictions. You will have to wait until tomorrow and ask. To answer your questions generally:</p>
<p>“Demonstrated need” means your need as it is perceived by the college, which may be different from your own judgement. Your need may be met by a combination of grants, loans and job offers. I don’t know Occidental’s policies about loans for international students. My own liberal arts college has the following loan policy. In the first year, international students are offered a loan of $3,000; in subsequent years, the loan amount will increase with tuition. So a $3,000 loan in my first year turned into a $7,580 loan as a senior, or cumulatively $21,720 over 4 years. </p>
<p>You should note that you might need more money than your financial aid package will grant you. For example, the standard college health insurance will probably not cover dental care, which is very expensive in the US. You may be expected to have a personal computer for school work but may not get funds to buy one. Your financial aid package may also not budget for visits back home, or vacation food and housing (if the dorms are closed).</p>
<p>If you don’t have another source of funding, money may be very very tight in the next four years.</p>