“tuition waiver that covers 60% of the student’s demonstrated financial need after all other federal, state, and institutional grants and scholarships are awarded.”
Nursing seems to be 17k OOS tuition/year. With RB, totals about 27k-?
Rough numbers: EFC is 1k and the merit is 3k, Pell 5k. Adds to 9k, so remaining need on tuition is 8k. That 60% tuition waiver is only about a 4800 grant.
9 + 4800 = 13800. So your nut seems to be about 13k.
So, anything we missed?
On my NPC it lists the 60% waiver amount as $9700. It seems to be based on the entire amount of demonstrated financial need, as it says on their page, and not just tuition.
That equates to 60% of the 16k tuition, after your 1k family contribution. Not subtracting “all other federal, state, and institutional grants and scholarships.” So, ??
And don’t forget room and board. One of the requirements listed is living on campus.
Des that scholarship also cover room and board costs?
Remember that scholarships for things that are not qualified educational expenses will be taxable income for the student.
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Students who qualify for this program will receive a tuition waiver that covers 60% of the student’s demonstrated financial need after all other federal, state, and institutional grants and scholarships are awarded.
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The award stays the same all four years, right? Even if the COA increases each year?
It has an OOS COA of $29k
Your EFC is $1k
Need is $28k
approx $5k Pell Grant
Merit $3k
$28k of need
$20k of remaining need
60% of need = tuition waiver would be: $12k
So…
$29k COA
$9k to be covered by student loan, summer earnings, and ??
Is that right?
“The tuition waiver grant may only be applied to Marshall University tuition charges.”
It looks like renewal would still be 60% of the demonstrated need all four years even if the COA increases as long as the criteria is met. Students are also offered $1500 work study, but that’s been standard at all the schools (hence my original question about it being feasible).
I will have to confirm what they consider demonstrated need and what all is covered in that amount.
Well then…the room and board costs would not be reduced…at all. So the out of pocket seemingly would be higher than what mom2 calculated based on the total cost of attendance. Wondering if the need is calculated before or after the Pell is counted.
@lookingforward it does say that at the bottom of the page, but up above it says 60% of demonstrated financial need and the NPC listed the amount as $9700 (without including books/misc. expenses in the calculation), so there’s no way it can be based on tuition alone.
I would call and clarify what that scholarship actually covers. The school will be able to tell you. We are guessing based on the very ambiguous wording on the website.
Don’t assume…make,the call.
Ahh…thanks for the clarification.
hmmm…and I think it says that the determined amount (waiver) stays the same for each year, so as costs go up, the gap will grow. Is that right?
The “must live on campus” may be an issue…many kids like to move off campus as upperclassmen
I will clarify with them, for sure. @mom2collegekids I do see that now that it stays the same for each year. That seems odd to me, because what if your financial need goes down and the school is “overpaying”? Basing it on figures from one year only for this type of award doesn’t seem to make sense.
But it says “Tuition Waiver Grant.” A tuition waiver generally only applies to that. I’d wonder if the merit can be stacked in there or if there’s an either/or.
$9700 is a straight 60% of 16k (more or less,) which coincidentally is what you get when subtracting 17000 - the 1k EFC. If it included RB, it would have been higher.
“The Achievement Tuition Waiver award value will remain the same each academic year it is renewed” does sound to me like you get $X dollars/year and have to eat any tuition increases. It’s another question to ask.
Call. I’d also double check what you input. We want this to work for you.
The question for me in the math is that it says it covers 60% of the financial nèed after all other financial aid is applied, but could that other financial need be applied to room and board first, leaving the ‘need’ as tuition? I really don’t see how there would be much tuition left if they applied all the grants and scholarships to tuition first, then the 60% to tuition. Mostly what would be left is the r&B, and the 60% grant wouldn’t be coving much.
However, I bet it is actually a good deal, especially if the npc is showing a $4800 grant. I wouldn’t give up on this yet.
Yes, visit, ask questions and wait for the financial aid package in the spring.
As long as you have other affordable choices.
Also in junior and senior year the loan amount is $2,000 higher, so if she can’t do work study those years the higher loan amount should cover any tuition increases, and together with the summer work income sounds like it should work.
I would select yes for work study on the FAFSA. Then she can see what kind of positions and hours they have available.
I would be surprised if it is an automatic /guaranteed scholarship for every student with the minimum stats of 3.0 GPA and 21 ACT.
It is only for non-residents (about 23% of their students according to College Board). It was listed on my NPC so I don’t think they would show that on there if it weren’t something that were automatic based on stats, would they?
I will post all the NPC numbers later when I’m at my computer.
Lots of schools do have the automatic merit aid for gpa/scores, even for stats that seem a little low. This one is a little different because it is need based and a strange percentage of unmet need.
Here’s Marshall’s NPC. I see now that they are calculating direct costs only, so no books/living expenses. $3800 + those indirect costs would be pushing it. She’s applied, but probably not holding out too much hope on this one now. Also, I still can’t figure out how $9700 is 60% of anything.
Estimates for the 2015-2016 Academic Year
Direct Costs:
Tuition & Fees + $17,102
Room & Board + $9,832
Marshall University Direct Cost $26,934
Your Estimated Need:
Total Direct Cost $26,934
Expected Family Contribution (EFC) - $846
Direct Need $26,088
Your Estimated Grants and Scholarships:
Federal Grants
Pell Grant - $4,925
College Grants and Scholarships
Freshmen Merit Scholarship - $3,000
Marshall University Achievement Tuition Waiver Grant - $9,700
Total Grants and Scholarships $17,625
Your Direct Cost After Grants & Scholarships $9,309
Your estimated eligibility for other aid programs:
Loans
Direct Subsidized Loan - $3,500
Direct Unsubsidized Loan - $2,000
Your Remaining Cost After Financial Aid $3,809
Additional Educational Assistance
Work-Study - $1,500
The math? 17,102 tuition minus the 846 family contribution = 16,256 “need.” They offer 60%. 16256 x .6 = 9,753. That’s not 9700, though close. The 9700 seems to be based on 16167. But it doesn;t subtract the other grants, which the description implies it does.
It sure looks like they missed their own wording that other support gets subtracted. Or the description is wrong. If it were me, I’d nicely ask them to explain how this works, see if they’ll walk you through the NPC.