Estimated time: 10-20 minutes
Case Study
Let’s get back to Samuel Smith’s situation. Take another look at the communication he received and see if you can help Samuel decide which offer is more appealing. You can download our College Financial Aid Calculator below to help you calculate this.
School A offered a parent plan loan of $ 22,000, a Lacrosse Scholarship worth $ 5,000 and a work-study for Samuel for $1,000 per year. Yearly tuition at School A is $ 30,000 with book fees estimated at $1,000. Room and board are $15,000 per year
School B offered Samuel a $2,000 scholarship plus a $6,000 grant for his academic performance. They also offer a subsidized loan for up to $25,000. The cost for his four-year degree at school B is $120,000. Room and board are $48,000 for the four years in total.
School C also accepted Samuel’s application but offered no financial aid or scholarships. Tuition at this college is $10,000 per year. The school is close to home, so Samuel could stay at home while studying.
