Private university = more financial aid?

[Helical]

I have read/heard that private institutions offer more financial aid, is this true in general? I ask this because I can go to college in my state for around $15,000 per year but it seems like most private schools cost $30-40,000 per year.

Also if private schools do give you more financial aid is that for everyone or just the people who appear really brilliant on paper? Would this money come from your FAFSA stuff or like scholerships, if it is scholarships then it would probably go to the people who have the best grades/test scores, correct?

 

[mr_coffee]

I'm not sure about that...I would think private is less fin. aid.

If this private school is "out of state" you def. are going to get screwed on fin. aid. If its in state you might have a better chance.

You get grants/loans based on your FAFSA, you don't get scholarships directly from FAFSA.

You get scholarships by either good grades or some other trait you have, but you can also get scholarships based on your need of money. <---which is shown by your FAFSA summary.

 

[SlideMan]

I've heard this too...although I don't know if in fact it's true. Why don't you apply to both schools and see what they offer you? You'd only be out the application fee for one of the schools.

 

[qualgorithm]

In terms of financial aid at private institutions, it really depends on the particular one. Prestigious institutions with lots of resources often offer need based financial aid so the sticker price may be far more than the true cost. Other schools offer lots of merit based aid, often to substantial portions of the student body, so again the effective price is far less than the sticker price.

I don't think private schools generally make a distinction between in state and out of state costs.

Note: all of my advice applies to colleges and universities in the US.

 

[mgiddy911]

I think it depends on the institution
Northwestern comes to mind as one that coast much but gives little. I think I heard they don't give academic based aid to their students, only need based.
Coming from experience at 2 Jesuit schools. I think the Jesuits are good when it comes to giving financial aid. So the private Jesuit schools may give more aid than some other private institutes

 

[unit_circle]

If this private school is "out of state" you def. are going to get screwed on fin. aid. If its in state you might have a better chance.

Umm, no offense intended but I think you have it exactly backwards. Usually private institutions charge the same tuition no matter what state you are from, or country for that matter. State schools charge more tuition for out of state residents than in state residents.

 

[mr_coffee]

Actually no...
What I was saying was, if your OUT OF STATE and your trying to get fin. aid for an OUT OF STATE school, your going to get screwed whether its private or not.

Trust me I've tried it and I got this information from fin. aid advisers of out of state schools.

They say, well if you where a resident we could help you but your out of state so your fin. aid is going to be limited.

I do agree what your saying, Private is 1 cost, state schools have 2 costs, in state and out of state tuition.

 

[jtbell]

Many states have a financial aid package (financed e.g. by the state lottery system) that is available to residents of that state who attend a college/university in that state, regardless of whether it is a state or private school. If a private school has limited financial aid resources of its own, that can make a big difference in the total package for in-state versus out-of-state students. That may be what mr_coffee was referring to.

 

[mr_coffee]

Thats exactly what I'm talking about jtbell.