Scholarship/Financial Aid @ Vanderbilt

kelsmom
Tue, 07 Oct 2008 00:41:38 +0000

Your expected family contribution will be calculated, using info gathered on the CSS Profile. Vanderbilt will use its cost of attendance budget for the student, which includes tuition, room, board, fees, travel allowance, books, and miscellaneous personal expenses (you can find a sample budget on the website’s financial aid pages). The COA minus the EFC gives “need.” Need will be met with a combination of scholarships, grants, and work study. No more need based loans, although students can still choose to borrow unsubsidized Stafford loans (but not in excess of COA-all other aid) up to the maximum for year in school.

If you get scholarships, the balance due in excess of the scholarships will depend on your financial situation. Take COA-EFC-scholarship=unmet need. If there is unmet need, you would be eligible for grants & work study to meet it.

You will notice that there IS an expected family contribution. Unless you get a full ride (Ingram is a full ride, I believe), you’ll still be expected to pay the EFC. If you don’t have any unmet need after the scholarships, you won’t get any more aid. If you do have unmet need after the scholarships, you’ll get aid to meet that need. Merit scholarships won’t be reduced if your EFC is really high, though.