Do i stand for a chance?

roadlesstraveled
Sat, 01 Jul 2006 11:56:41 +0000

I called the financial office at Smith and asked about the availability of financial aid at this late time in the admission year and was told that financial was based on the formula and not the time of application]]

Thanks Un-soccrer-mom. I believe this is what I was attempting to convey. ED, RD or transfers are all treated equally when accessing the amount of aid awarded based Smith’s formula. One caveat; after admissions has admitted about 95% of the 1st yrs, they access how much of the aid allotment has been allocated. There’s a very complicated formula Smith uses to obtain aid awarded, expected yield of need based students, etc. If smith believes the aid has been depleted, or close to it, the final 5% of apps are admitted on ability to pay full costs or close to it, however; this doesn’t occur every yr. Many yrs every student is admitted regardless of ability to pay. This fact might or might not be pertinent in a students/parents opinion when considering RD or ED

Hz_paula, your other consideration is TDs very important comment “ “Meeting financial aid” can mean lots of things; if one college is giving you eighty percent loans, another 80 percent grants, it can mean a big difference to the financial burden a student will carry after graduation…but the college giving 80 percent loans has still “met 100 percent of financial need.”

Hz_paula, Smith offers the largest portion of aid in the form of grants in lieu of loans.

http://apps.collegeboard.com/search/CollegeDetail.jsp?collegeId=1376&profileId=2

Financial Aid Statistics
 Full-time freshman enrollment: 615
 Number who applied for need-based aid: 466
 Number who were judged to have need: 366
 Number who were offered aid: 366
 Number who had full need met: 366
 Average percent of need met: 100%
 Average financial aid package: $29,183
 Average need-based loan: $2,058
 Average need-based scholarship or grant award: $25,169
 Average non-need based aid: $3,465
 Average indebtedness at graduation: $25,023

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