Ivy League Financial Aid
Most people believe that the Ivy League financial aid is nonexistent and that you’ll have to shore up hundreds of thousands of dollars to finance your education. We can tell you that contrary to popular belief, the Ivy Leagues are extremely generous when offering financial aid. It’s highly dependent on your income, and some such as Stanford offer a full ride if your parent’s income is less than ~$150K.
Everyone tends to assume that going to an Ivy League you need to be rich and wealthy, but that’s absolutely not true. Ivy Leagues have made drastic changes to their program since the 1970’s and have made great strides toward offering financial assistance to all those who desire to attend.
However, if your household income is roughly $150–160K and under, your chances of getting a huge amount of financial assistance in the form of grants and loans is extremely high.
Most people are concerned about the cost of attending an Ivy League school. That shouldn’t be a concern – their endowments are huge and many students attend with free tuition.
The hard part isn’t getting the financial assistance. The difficult part is actually getting in in the first place.
Why would you decline a top university? You can cut it in so many different ways, but it makes very little sense to do so.
For those who believe finances to be an issue, we can tell you that the top universities offer a significant amount of grants and subsidized loans to students. A degree from a top university will open up more job opportunities and doors than you can ever dream of and your future income will easily offset any debt that you may owe from attending. You will have a huge edge in the job market, especially when employers spend less than 30 seconds reading a resume and the biggest factor that catches their eye is the school that you attended.
And if finances is really a difficult issue, take out a loan and get a job after college. You will be able to pay it back over time. Don’t make finances as an excuse not to attend because you can take out a loan, get a job with your sparkly degree, and pay it back. It just takes a little bit of patience and hard work.
If it comes down to a matter of fit, we can tell you these universities have made tremendous strides to create a sense of diversity and inclusiveness. Even Princeton, my alma mater, which is known for admitting wealthy WASP’s, has increased its diversity significantly such that you can easily find a social group or niche that best fits you.
The academic and extracurricular offerings are boundless. You will have access to cutting edge faculty, a highly motivated student body that will push to to perform to the best of your ability, and the opportunity to conduct research which you will find difficult in other universities. You’ll studying with Nobel Laureates, National Science Foundation Fellows, and other prestigious award winning faculty that pioneered their fields.
But of course, if you have to turn down a top university, you may certainly do so – the choice is yours. We can tell you there is another person who is eager and hungry to take the spot that you just left vacant.