WAG The Ivies - financial part

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Tigtimes

Proud Parent
May 12, 2015
227
For those who have possibly been through the process with the Ivies. Worried about the aid part. We have a kid in college so very familiar with what colleges deem as “need” - yes cause we all live on our gross income but that’s another rant.

So no merit, academic or athletic aid. If you have been though the process are what the Ivie use/consider for “need” calculation different from the general college world. We know where we stand outside the Ivies but just wondering if they use different calculations. Seriously not going to go any further down the road if it is the same and don’t want disaster when the tuition bill letter comes and it’s just not a reality without merit aid.
 

Faith

Coach
Proud Parent
Aug 17, 2011
2,179
We are going through it at the minute.

My understanding is it’s based on financial need- as in you put in your income and there is a sliding scale- the less you earn the less you contibute, to about 50 or 60k where all tuition fees and accomodation are paid for.

You are also expected to contribute for books and sundries, about 3.5 k a year, plus medical insurance?

The websites should have information on the sliding scales and calculators. The schools sent links when they emailed.
 

MILgymFAM

Proud Parent
Fan
Feb 6, 2014
4,717
41
Twin Cities
The ivies tend to have the best aid there is, with some differences between them, of course. I can say that my daughter’s non-Ivy (but top tier) college’s aid package was very close to that of an Ivy, with a very slight edge to the Ivy. Every school thought we could pay a bit more than we could though, so I think that’s pretty standard unless money is truly no object. I think Harvard, for example, gives amazing aid if your family income is under 100k per year. That’s super generous from where we sit, but others might not see that as a high income at all. Typically, they will also include a calculation of your home’s equity and savings as well; and expect a contribution from the student themselves.
 

Tigtimes

Proud Parent
May 12, 2015
227
can say that my daughter’s non-Ivy (but top tier) college’s aid package was very close to that of an Ivy, with a very slight edge to the Ivy.
Thank you. That was my question. With my son merit aid was a substantial portion of all the acceptance packages he got so without merit aid at Ivy schools not sure how the difference is made up if income threshold calculations are similar between the two systems.

Guess we will see but again we are not too deep in the process at this point and don’t want to rock boat yet but it keeps me up at night !!!
 

gymgal

Gold Membership
Proud Parent
Aug 22, 2008
4,499
The Ivies are much more generous with financial need than most colleges. When we looked into it, we would have owed less than if she went to an instate College. But we have a large family so that helps. Google cost calculator and the ivy you are interested in. It should give you a good idea as long as your income is stable year to year
 

Tigtimes

Proud Parent
May 12, 2015
227
Try this calculator for Yale
Thank you ! Well based on that calculator result I can state that the Ives uses a totally different calculation for what they view as “need”.

my son was accepted at 8 universities and all were consistent with where we fell. Using same financial numbers the result at least from Yale is WAY different in our favor.

thanks for the help everyone .
 
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Rose7777

Proud Parent
Jan 2, 2015
62
Each school should have an NPC (net price calculator) calculator on its website. Some are harder to find than others, but if you google “Harvard npc”, for example, you should be able to get a direct link.
 

Faith

Coach
Proud Parent
Aug 17, 2011
2,179
Did that school send you the financial aid information?

The school interested in DD sent it all over and explained the difference between ivy and non ivy funding/scholarships before they took it further. They sent some tables and info I can’t find on the website.
 

Tigtimes

Proud Parent
May 12, 2015
227
Did that school send you the financial aid information?

The school interested in DD sent it all over and explained the difference between ivy and non ivy funding/scholarships before they took it further. They sent some tables and info I can’t find on the website.
Faith - not yet but again not deep in the process. Honestly I was looking further ahead. Not sure anything will progress, or if she even wants to go that route at all, but just wanted to know the lay of the land first - cause I’m an over thinker !!!
 
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Faith

Coach
Proud Parent
Aug 17, 2011
2,179
Ha totally.

Just to share our experience, the Ivy wasn’t on dd’s list of schools at all. She is clever, but not extremely clever, if you know what I mean. She’s national standard and thought an Ivy might swing toward academics, and be a lot of pressure school work and athletics, and she still wants to compete GB.

Then she got an email out of the blue. Thought it was interesting, realised that it was needs based funding rather than academic as we’d thought. Still kind of dismissed it as academic pressure.

Then another email asking for a zoom chat as they were very interested. She agreed, and it changed her mind completely. Ambitious coach, spoke to existing students who said their academic/sport is very well balanced.

So it’s probably her top choice now. So worth following up if they’re interested.
 

LemonLime

Proud Parent
Jul 16, 2007
816
If you are a gymnastics candidate of an Ivy, they will give you a tentative green/red/yellow light in the summer before senior year and a potential finacial package range that is based on the online calculators. You will receive your official financial package at the same time you are admitted. The package between the summer and fall does change, but usually not dramatically.
 
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