Paying for Ivy League?

jerzgrlmom
Sun, 27 Sep 2009 17:48:50 +0000

franglish’s DD and my son both attend Brown and have had the same experience. No loans have been offered in my son’s package. Brown’s policy is no loans if income is under $100,000. Under $75,000, there is some other benefit but I forget what it is. My son WAS eligible for loans this semester to cover higher than normal expenses associated with a study abroad program (Brown only covers what it costs to go to Brown so if study abroad’s room/board and travel/personal expenses are higher, they will offer you loans to cover those additional expenses).

Our son used outside scholarships to replace his student contribution and to pay for a computer (they increased his COA that year so didn’t reduce his need/grants). When our kids started, ALL freshman on FA received grants in place of work-study (so freshman could take time to adjust). Not sure if that’s still true. BUT I THINK I read that Brown lets you replace work-study and some other contributions now with outside scholarships (in addition to reducing student contribution). So, if Brown is on your list, apply to outside scholarships that are not need based.

With a high EFC, you might not qualify for the NO loans policy but I THINK I remember reading that Brown limits the amount of loans offered, depending on income. For incomes under $100K, no loans in package. Incomes 100K-125K, the max loan offered is $3000/yr for a total of $12,000. Incomes 125K-150K, the max loan offered is $4000/yr for a total of $16,000. Incomes 150K+, the max loan offered is $5000/yr for a total of $20,000. I would confirm this as my memory may be wrong or the policy may have changed again, but this is pretty good. Keep in mind students are still expected to contribute about $2500/yr from summer earnings and have work-study. BUT outside scholarships can reduce those amounts. Brown also offers grants to replace summer contribution for kids who don’t have summer earnings (free internships, volunteering, etc). I think you have to apply separately for those grants.