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Sample Aid Packages - Alex
When Alex’s parents used an on-line estimator
to see about eligibility for financial aid – they were horrified
by what they found – the estimator told them that they had an estimated
family contribution of $73,053! They knew they had a very good
income, and that they had tried to save and create a good asset
base as well.
But even so, they didn’t see an
extra $73,000 to use for Alex’s education, and had just about
ruled out a Lutheran
college. But, Alex, who had spend significant amounts of time
researching college opportunities, was certain that a Lutheran
college in a neighboring
state provided the combination of strong academics with an active
music and theater program that would perfectly fit his needs
and interests.
Alex contacted the college and
applied for, and won,
a prestigious scholarship competition on the basis of his strong
GPA (4.0), SAT of 1350, and a music audition.
| Financial
Profile: (Expected
Family Contribution = $73,053) |
| Family Size: 4 (one
in college) Family Income: |
$253,500 |
| Assets: |
$195,000 |
| |
|
| The Financial Aid
Package: |
|
| College Merit Scholarship: |
$12,000 |
| College Music Schoarlship |
$5,600 |
| Student Loans:
|
$7,500 |
| Total
financial aid: |
$25,100 |
Alex and his parents viewed student loans as an opportunity for
Alex to fund part of his education – for he will be the beneficiary
of that education.
Since he is considering a career in teaching – an occupation for which strong demand is predicted into the
future - Alex is comfortable with investing in his future through
student loans. Alex’s total financial aid – more than $25,000. |
