Cornell Financial Aid: More and more, every year
I just got my financial aid letter from Cornell University. It’s a great 100% need-based policy, but the bottom line is ridiculous!
$31,467 for Tuition and Fees, $10,300 for room and board, and $3080 for personal expenses and books. The grand total is $44,847 for the 2005-2006 school year, which is about 9 months of services. That’s around $160 a day, or $20 an hour for 8 hours a day’s worth of work. It’s also 1.21 times the national average salary, and 1.56 times the national median salary, which is a more sensible number to look at!
The financial aid is great, though, covering 85% of the cost with its package, and leaving me and my family to pay the remaining 15%. Of course, that’s counting loans against aid and not my family. When you count the fact that a loan is really just a deferred cost, Cornell University is only covering 65% of the cost of my year’s education. But wait–that’s also counting the money that I earn during the semester! Subtract that, and Cornell is actually only paying 60% of the costs, my parents 8%, and me, well–I pay 32% of the cost of my college education.
I hope I get a tax break.
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10 Responses to “Cornell Financial Aid: More and more, every year”
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That’s a heckuva grant… although with the tuition costs so different to what I was used to back when I was at Kwantlen, I guess it’s quite relative to what I may have seen.
I’d hope that after having paid for a Cornell education, your starting salary outside of school would be significantly higher than the national median salary.
Otherwise, exactly why are you paying so much for the education? If you don’t have the full intention of learning whatever you need to learn in order to secure a sufficiently well-paying job coming out of college, then you might as well go to a state school with lower tuition costs. The beer would, in effect, be much cheaper there.
What you are forgetting is that it costs Cornell over $150,000 a year to educate you. You are getting quite a steal.
Well, one goes to school to *learn*, really. The cost for now isn’t important–even if I make median salary, I’ll be able to pay off the investment eventually ^_^
What is ridiculous is the poor job your parents did in providing for your education and they get rewarded for it by Cornell.
Hello, glad to hear you’re granted with the Financial Aid.
I was wondering if they are accepting foreign applicants…like me? im from the Philippines, im a Junior HS student who wants to study there.
thanks for the info. Mail me if you’ve got. thanks a bunch.
larisse
What was your parents income for you to get such a nice award. We just received our award and it was less than $2,000. We are puzzled.!
Hi Elliot,
I recently married and will begin graduate school at Cornell this Fall (biomedical engineering). I was appalled to learn I was only getting 30% of the cost covered. I was wondering if you knew of any financial aid opportunities for married students both external and within the university.
Feel free to contact me at cjsanchez83@yahoo.com.
Thanks!
I got NOTHING. Stop bitching about a school only covering part of your cost. I couldn’t go to Cornell because I didn’t get any of this stuff. Be happy for what you’re getting and grow up.
Cornell gives need based aid to all NAFTA-country applicants; if they gave you nothing, you could afford the bill.