Financial Aid Packages

There are colleges that do provide need based or merit aid that will cover tuition, and then room and board costs. These awards are not all that plentiful.

Do you have significant financial need…and the stats to get accepted to a school that guarantees to meet full need for all.

Do you have significantly high stats that you would qualify for merit aid?

If you get financial aid that exceeds tuition, fees, books…it will be considered taxable income for the student.

Ok…I found your stats…

And you are in NY state and say your parents can pay $20,000.

I would suggest that you apply to University of Alabama right now…and complete the scholarship application as well. I believe you will get sufficient aid that your parent contribution of $20,000 will cover any remaining costs.

No not significant. For some schools yes. But my question is will they usually cover room and board or no?

No interest in Alabama, I’m from New York, lol

Your stats are sufficiently high to get merit aid at some colleges.

On another thread, you indicate that the net price calculator someplace indicated $30,000 net cost.

Apply to Alabama. I’d also suggest submitting an application to University of Pittsburgh.

I answered you question…some schools do provide aid to cover room and board costs. If you have a $30,000 EFC, that exceeds the room and board costs at that school…so no need based aid would be provided at that school to cover room and board.

For your SUNY schools, $30,000 EFC would cover the full cost for you to attend…right?

I have no interest in Alabama or Pitt. And I also don’t know my EFC but I think it is somewhere from 20,000 to 30,000.

Pick a few schools that meet full need and try the NPCs. The number that you get once you finish is an approximation of what you will be expected to pay (there are exceptions depending on your family circumstances).

For example, if OOS tuition for UVA is $50,000 a year and room/board is an additional $15,000 a year (I am just plugging in numbers, I didn’t check) that makes the total cost of attendance $65,000 a year. If the NPC comes up with $25,000…that is the number (approximate) that you will be expected to pay.

Here is my suggestion…besides the SUNY schools…which by the way should be high on your list.

  1. Try the NPCs for schools that meet full need. This number may vary from one school to the next.
  2. Look into schools that may give you merit: Alabama, Ohio State (maybe), Pitt (maybe), U of SC (maybe).

I’ll stick my neck out. Room and Board are typically less than $20,000 a year. If that is your family contribution, then you won’t be getting need based aid to cover that $20,000…

You might get merit aid. Which SUNY schools would give you merit? Buffalo might…not sure about Bing.

You wrote this:

Are you sure? Look at the eligibility for the Excelsior award. It is for families with incomes below a certain amount. If you are eligible, the SUNY tuition costs would be covered…and your parent contribution of $20,000 could cover your room and board costs.

@sybbie719 any help here?

So most likely no matter what happens I have to pay room and board right?

I think the OP will get some merit from Buffalo…based on what I have observed. I also think this student will make honors. Binghamton will not give merit.

OP can you give us a firm number that your parents can pay? Try the NPCs and see if the number is affordable.

Pitt is an outstanding school, and Alabama has a lot of OOS students who attend because of the generous merit. Again…try the NPCs. It will be hard to get enough merit in the northeast to bring the cost down to less than $20,000.


Did you read my response?

If you qualify for the Excelsior award, your tuition will be covered…and any remaining costs at a SUNY should be able to be covered by the $20,000 you think your parents can contribute annually.

That fits your budget.

You aren’t open to places where you could get aid to cover additional costs…well…unless you plan to apply to some generous colleges that meet full need for all. At your income level, schools like HYPSM etc would likely give you decent need based aid…if you get accepted.

What are your criteria…so folks can make suggestions that might actually meet your standards?

$20,000/year maximum. And Alabama is not happening.

Some schools have merit awards that cover tuition. Other schools have a need based FA award that covers $xx toward the total bill, and that might pay some r&b or might not. Some schools with full rides (for example, for NMF) cover everything, including R&B. My daughter had some awards that could only be used for tuition, so her school applied those first and that left some of her merit award that could be used for r&b.

In NY, the excelsior only pays tuition.

Excelsior only covers tuition, not room and board? And forget criteria I have most of my list down already, but thank you.

Got it, thank you.

I will try to answer your room and board question:

Thumper is right about SUNY. If you qualify for Excelsior then your tuition would be covered. You would have to pay for room and board…it appears that your parents can pay for that. Buffalo is an outstanding option.

If you use the NPC for schools that meet need and come up with a price tag (approximate) of $22,000…that is your cost. There is no distinction between tuition and room/board. The NPC is based on the total cost of attendance.

If you are looking for merit, you will need a full tuition scholarship …or close to it…in order to get the cost down to what your parents can pay. It is very hard to find this type of merit in the northeast. You have to be willing to expand your geographic preferences…and even then it can be tricky.

Look at the U of Miami. My friend’s son got one of the huge awards and is having an amazing experience.

Thank you, this was all very helpful. Does Buff a good undergraduate business program (specifically finance)?

I know students who recently graduated from the business school at Buffalo ( don’t know the specifics) and are now employed in their field, living independently.

So it’s definitely a good safety school for me. Any other good undergraduate business program that have an acceptance rate of 45% or higher and are relatively affordable?

SUNY Albany is the “business” campus and you’d make honors, meaning that some of R&B may well be paid for.

Is Albany or Buff a better school? Which has a better reputation? And which has better job prospects/placement?