Harvard Fin-Aid Package

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Discus: Ivy League Schools: Harvard University: 2004 Archive: Harvard Fin-Aid Package
By Modestmouse (Modestmouse) on Saturday, June 26, 2004 - 10:57 pm: Edit

My family is making roughly 40K a year... I know the fin-aid policy at Harvard(if I get in, of course) would give me a full ride, but would I have to do work-study? My parents don't want me to work for my first two years of college, because they want me to be able to "settle" in... Can I work my way around the work thing, if I were to get in, of course?

By Attitudica (Attitudica) on Sunday, June 27, 2004 - 12:58 am: Edit

Good question, and does the aid include LOANS?

By Ilovethe80s (Ilovethe80s) on Sunday, June 27, 2004 - 01:56 am: Edit

~3500 of your aid package will be self help. you can work for the full 3500, take it in loans, do a combination of both, or use outside scholarships to eliminate it.

By Attitudica (Attitudica) on Sunday, June 27, 2004 - 05:03 am: Edit

Thats a bit harsh, 3,500 per year?

By Stopps86 (Stopps86) on Sunday, June 27, 2004 - 11:29 am: Edit

Not really, considering tuition is over $40,000. I chose to split it up 1000 work study, 2500 loans, and surprisingly I've already paid off my 2500 student loan with local scholarships I received at the end of the year. Don't worry about the financial aspect of Harvard. They are very willing to offer help and very generous.

By Ambitiousyokel (Ambitiousyokel) on Sunday, June 27, 2004 - 12:32 pm: Edit

Yeah, that's very far from harsh. I'd describe my financial aid packages as "rocking-my-world" rather than "a bit harsh." If you choose to take out the balance in loans for all four years, you'll only graduate with 14,000 debt principle (and a Harvard degree). You can meet the entire $3,500/year with a 12 hour-per-week job. Also, Harvard lets any outside awards you get be used to pay down the $3,500 commitment dollar-for-dollar.

Of the financial aid packages I got (excluding the full ride to State U), Harvard's was the most generous. They expect me to pay $200/year more than Yale did, but they also expect my parents to pay more than $3,000/year less. I have outside scholarships to cover my first two years, and then I'll probably split my personal contribution between light work (6/week) and loans.

By Jab93 (Jab93) on Sunday, June 27, 2004 - 07:59 pm: Edit

Work-study is actually pretty cool...
I did about 10 hours per week... but I got a job working as a research assistant to a professor in my field... I majored in astrophysics, and got to do cool work... one semester, I analyzed data from an x-ray satellite... another semester I help build part of a new x-ray detector...
some of the work was grunt work... cataloguing and sorting data from different telescopes...

The thing is... all of this work paid off big-time: it looked great on my grad school apps, plus I got outstanding letters of rec from my supervisors... as a result, I got into EVERY PhD program I applied to (including CalTech, MIT, Harvard... I chose Berkeley)...

So, think of work-study as an OPPORTUNITY... there are hundreds of jobs advertised in the student work-study office... in all different fields... from grunt work (cafeteria/library duty) to cutting-edge research... think of work-study as another facet of your education.

By the way, the way work-study works is that you employer only pays a small part of you wages, the rest is subsidized from the university/government... so if you find a job off-campus that you like (say tutoring/teaching English to immigrants with some non-profit), you can actually go to the work-study office, and they will arrange to get that included as work-study... new employers love this because they get a hard-working student, without having to pay full wages...

By Serdu (Serdu) on Monday, June 28, 2004 - 01:19 am: Edit

I got 1K in scholarships, but am going to work full time (12 hrs) to pay for second semester. At this point though, they'll only need $2,500 from me. So those extra $1,000 I can use.
Also, realize that at Harvard Work-Study refers to the federally funded program and they don't have to much control over pay and taxes. They recommend that you do their work (Term-Time) work because pay rates are usually a minimum of $8/hour and can go up to $11 something. That's what I'm doing.
Also, if you find your package is not great ask them to review it. I did and my family contribution was cut in half. :)

By Hstudent (Hstudent) on Monday, June 28, 2004 - 10:44 am: Edit

no loans are included in the deal if you make under 40k -

By Ellemenope (Ellemenope) on Monday, June 28, 2004 - 05:24 pm: Edit

You can also work cleaning up Harvard the week before you're due on campus and a month after school ends. So there are ways to reduce the self-help requirement without having to work during the school year.

By Willywonka (Willywonka) on Monday, June 28, 2004 - 06:31 pm: Edit

Financial Aid at Harvard is definitely the one thing this boy (whose family makes less than 40k a year) isn't worrying about.

The other aspects, however...

By Serdu (Serdu) on Monday, June 28, 2004 - 11:31 pm: Edit

As a word of warning,

My family makes well under 40K. We'll have 2 in college next fall. The policy states that 40K and under= 0 parental contribution. Be aware if your family owns property or has enough assets, this may not be offered to you. This is what happened to me, and when I inquired I was told that "other factors" go into 0 parental contribution.

By Hstudent (Hstudent) on Tuesday, June 29, 2004 - 02:35 pm: Edit

if you make less than 40k per year and have two kids in college and have yet to pay of your house and lack any trust funds of sorts....

you'd be hard pressed not to qualify for the full deal...

and even if you dont, you'll still have to pay very very little

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