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Calcruzer · 11-23-2007, 05:59 AM

Lastly, let me mention another thing here, which I realize is not clear from my original posts.

When I list "average free aid" and "average loans", these are meant to show you what the normal student is getting. They are not meant to indicate what you will get, other than to show that some schools are likely to give a lot of "free aid" and some are likely to give more "loans".

Most all of the schools on your list will give you enough (free aid plus loans combined) to cover all of your "cost of attendance".

I realize that is not clear from the data above, so let me explain.

A school like Georgetown is giving the average student about $18,000 per year, and about $2,000 in loans. Thus, this means the average student can afford to pay the rest ($40,000 less the $20,000 = $20,000 they can afford).

For a student like you, who can't afford more than $5,000 or so, the school will probably increase the "free aid" to about $27,000 and will probably expect you to take out loans (which they will provide) for the remainder ($40,000 minus $27,000 minus $5,000 = $7,000 in loans per year).

This means that to graduate from Georgetown (if you are accepted there) will probably cost you a total of $28,000 in loans plus the $20,000 that you will pay in cash (your $5,000 contribution per year). This means you will pay a total of $48,000 for the four years. Actually, it's a little bit more since the cost will go up a little each year, but you get the idea.

This is what I meant in my original post that the school will pay for part and you will pay for part. (In this case, Georgetown would give you a total of $108,000 total towards their costs.) It also depends upon how much each school tends to give. Obviously, (as you can see), a school like Pepperdine or Gettysburg would probably be the cheapest ones to attend--but none of the schools you listed are totally out of the question.

To compare that to what I pay for my own son--his cost of attendance is $35,000 per year--but he gets a scholarship of $1,000, no other free money and takes out loans of $5,000 per year, so his mom and I pay $29,000 per year. That's because we make more than you and your family and thus are expected to pay more. That's how the educational system works here in the US.

11-23-2007, 05:59 AM	#11
Calcruzer Senior Member Join Date: Nov 2005 Location: Santa Cruz, CA Posts: 4,553	Lastly, let me mention another thing here, which I realize is not clear from my original posts. When I list "average free aid" and "average loans", these are meant to show you what the normal student is getting. They are not meant to indicate what you will get, other than to show that some schools are likely to give a lot of "free aid" and some are likely to give more "loans". Most all of the schools on your list will give you enough (free aid plus loans combined) to cover all of your "cost of attendance". I realize that is not clear from the data above, so let me explain. A school like Georgetown is giving the average student about $18,000 per year, and about $2,000 in loans. Thus, this means the average student can afford to pay the rest ($40,000 less the $20,000 = $20,000 they can afford). For a student like you, who can't afford more than $5,000 or so, the school will probably increase the "free aid" to about $27,000 and will probably expect you to take out loans (which they will provide) for the remainder ($40,000 minus $27,000 minus $5,000 = $7,000 in loans per year). This means that to graduate from Georgetown (if you are accepted there) will probably cost you a total of $28,000 in loans plus the $20,000 that you will pay in cash (your $5,000 contribution per year). This means you will pay a total of $48,000 for the four years. Actually, it's a little bit more since the cost will go up a little each year, but you get the idea. This is what I meant in my original post that the school will pay for part and you will pay for part. (In this case, Georgetown would give you a total of $108,000 total towards their costs.) It also depends upon how much each school tends to give. Obviously, (as you can see), a school like Pepperdine or Gettysburg would probably be the cheapest ones to attend--but none of the schools you listed are totally out of the question. To compare that to what I pay for my own son--his cost of attendance is $35,000 per year--but he gets a scholarship of $1,000, no other free money and takes out loans of $5,000 per year, so his mom and I pay $29,000 per year. That's because we make more than you and your family and thus are expected to pay more. That's how the educational system works here in the US. Last edited by Calcruzer; 11-23-2007 at 06:08 AM.
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