Every family situation is different, and it can be a challenge to understand how your unique financial circumstances will impact your offer of financial aid. To help you visualize this process, we have assembled some sample financial aid packages to illustrate how common situations might influence a basic financial aid package.
This student comes from a family of four, and is the only child in college. The family has an income of $145,000, and the parents have cash savings of $8,000 and investments of $10,000. The student did not file a tax return, but has $1,500 in savings.
|
Total Cost of Attendance |
$55,270 |
|
Expected Family Contribution
Financial Need
Offer of Financial Assistance |
$29,420
|
For information on how we calculate the Cost of Attendance, please see this page.
The offer of financial assistance equals $29,420 - the "Financial Need" number - because Hamilton has committed to meeting 100% of demonstrated financial need. More information on financial need can be found here.
This is the same scenario as Sample 1, however the student received outside scholarships totaling $2,800.
|
Total Cost of Attendance |
$55,270 |
|
Expected Family Contribution
Financial Need
Offer of Financial Assistance |
$29,420
|
Due to the receipt of an outside scholarship, the student's Work-Study was reduced from $2,000 to $0 and their Direct Loan was reduced from $3,500 to $2,700. For more information on outside scholarships, please see this page.
This is the same scenario as Sample 1, but this student has a sibling attending an undergraduate college as a full-time student.
|
Total Cost of Attendance |
$55,270 |
|
Expected Family Contribution
Financial Need
Offer of Financial Assistance |
$41,270
|
Because of the additional child attending an undergraduate institution the parent contribution was reduced (almost cut in half) and the amount of financial assistance was increased. For more information about siblings in college please see this page.
This is the same scenario as Sample 1, but now the parents have stocks valued at $150,000.
|
Total Cost of Attendance |
$55,270 |
|
Expected Family Contribution
Financial Need
Offer of Financial Assistance |
$24,120
|
