Sample Financial Assistance Awards

Sample Financial Assistance Awards

 

Every family situation is different, and it can be a challenge to understand how your unique financial circumstances will impact your offer of financial assistance.  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.


Tianna

Tianna is admitted as a resident student into the School of Dance.  She comes from a family of four, and is the only child in college. The family has an income of $135,000, 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. She has a 3.3 high school GPA, 1100 SAT scores and a 5 on her audition.

Direct Costs: $47,540
   
Expected Family Contribution  
Parent Contribution $22,050
Student Contribution $525
Total Expected Family Contribution $22,575
   
Financial Need for Direct Costs $24,965
   
Offer of Financial Assistance  
Promising Artist Award $13,000
Direct Loans Student $5,500
Federal Work-Study $1,500
TOTAL $20,000

For information on how we calculate the Cost of Attendance, please see this page.

  
Adam

This is the same scenario as Tianna, but this student has a sibling attending an undergraduate college as a full-time student and is admitted to the Creative Writing program with a portfolio score of 5.

Direct Costs: $47,540
   
Expected Family Contribution  
Parent Contribution $11,025
Student Contribution $525
Total Expected Family Contribution $11,550
   
Financial Need for Direct Costs $35,900
   
Offer of Financial Assistance  
Promising Artist Award $20,000
University Grant $11,500
Direct Student Loans $5,500
Federal Work-Study $1,500
TOTAL $38,500


Isaac

Isaac is admitted as a commuter student into the MBET program.  He comes from a family of four, and has another sibling in college. The family has an income of $42,500, and the parents have no savings or investments. The student did not file a tax return, and has no savings. He has a 3.4 high school GPA, 1100 SAT scores and a 6 on his audition.

Direct Costs: $38,480
   
Expected Family Contribution  
Parent Contribution $1,250
Student Contribution $0
Total Expected Family Contribution $1,250
   
Financial Need for Direct Costs $37,230
   
Offer of Financial Assistance  
Promising Artist Award $13,000
Direct Student Loans $5,500
Federal Work-Study $1,500
Pell Grant $4,300
PA State Grant $4,000
Pell Grant $4,300
University Grant $3,500
TOTAL $31,800


Joelle

Joelle is admitted as a resident student into the Industrial Design program.  She comes from a family of four, and has another sibling in college. The family has an income of $38,000, and the parents have no savings or investments. The student did not file a tax return but earned $2,000, and has no savings. She has a 3.3 high school GPA, 100 SAT scores and a 6 on his audition and is a Pennsylvania resident.

Direct Costs: $47,540
   
Expected Family Contribution  
Parent Contribution $850
Student Contribution $200
Total Expected Family Contribution $1,050
   
Financial Need for Direct Costs $46,490
   
Offer of Financial Assistance  
Promising Artist Award $20,000
Direct Student Loans $5,500
Federal Work-Study $1,500
Pell Grant $5,300
PA State Grant $4,300
University Grant $4,500
TOTAL $41,100