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MS - Career & Human Resource Development '94
Dundee NY

The Four Letter Word: C-O-S-T!

Corinne Franklin on Wednesday, 16 February 2011. Posted in Financial Aid

When meeting with families to discuss the four-letter word, I explain that there are resources available to make RIT affordable. If by chance I ever meet with a family who has unlimited resources and decades to plan, I would recommend investing in a college savings plan. And, I would encourage the student to work hard in high school and to get involved! This family may even want to save through www.upromise.com.

However, my job is a little more challenging! Every family does not have the ability to pay out-of-pocket towards the C*(T of RIT.  I help these families find resources to make college affordable! My approach is to look at the total C*%T and to help families find resources to reduce the total out-of-pocket C*@T.

All students who apply for admission prior to February 1st and who are admitted will be evaluated for an RIT merit scholarship. A complete listing of the RIT merit scholarships can be found at http://www.rit.edu/upub/pdfs/Financial_Aid_and_Scholarships.pdf. These awards are based primarily on SAT or ACT scores, secondary school rank at the end of the junior year and leadership potential. Merit Scholarship Award letters will be mailed to eligible students in the next couple of weeks.

In addition to merit scholarships, RIT awards need-based grants. To be considered for need-based grants, students are required to complete the Free Application for Federal Student Aid (www.FAFSA.gov). This application also serves as an application for federal aid programs. There is also a link at the end of the FAFSA to apply for New York State financial aid programs.

By completing both the RIT admissions application and the FAFSA, students are applying for RIT merit scholarships, RIT need-based grants, federal grants, federal loans and New York State sponsored aid programs. These are all resources that can make RIT affordable.

Additionally, I encourage students to invest time in searching for resources other than RIT, the federal government and the State. These additional resources can make RIT even more affordable. Information on scholarship opportunities can be found on our website at http://www.rit.edu/emcs/financialaid/scholarships.html#scholsearches. Students are also encouraged to check with their high school counselor for information on additional scholarship opportunities.

Lastly, I encourage students to save earnings from their summer job. These earnings can help with the up-front cost of text books. Affordability is the word of choice! My goal is to help make RIT affordable for families.

Comments (6)

  • Steve

    Steve

    02 March 2011 at 18:42 |
    I am a parent and have been working with financial aid department by phone and email and they have been extremely helpful and responsive. We just find out our son won the National Co-op scholarship! That will make a huge difference.
  • Steve

    Steve

    02 March 2011 at 18:46 |
    Sorry, needed to correct some errors on the previous post:
    I am a parent and have been working with the financial aid department by phone and email and they have been extremely helpful and responsive. We just found out our son won the National Co-op scholarship! That will make a huge difference in affordability.
  • Corinne Franklin

    Corinne Franklin

    03 March 2011 at 07:19 |
    Congratulations on your son's acceptance and scholarship! If you completed the FAFSA, you will receive a Financial Aid Award Letter listing need-based financial aid. These will start going out around the 15th of March.
  • Ivana Bernal

    Ivana Bernal

    15 March 2011 at 20:18 |
    I'm a student who is in the process of transferring in to R.I.T. and I'm currently in a CUNY school that allows me to attend for free because I am in a need-based grant program (similar to HEOP). I found out through an email from R.I.T. that I am not qualified for HEOP because I'm a transfer student. It will be very difficult for me to pay for tuition because my mother is unemployed and can not take out loans because she has bad credit. I have not been accepted yet but R.I.T. is my number one choice, so my question is where do I go from here?
  • Corinne Franklin

    Corinne Franklin

    16 March 2011 at 09:55 |
    Hi Ivana! I can confirm that both your admissions application and your FAFSA have been received by RIT. Once you are admitted to RIT, you'll receive a Financial Aid Award Letter soon after. Although, you don't meet the eligibility requirements for the Higher Education Opportunity Program (HEOP) at RIT, you'll still be considered for financial assistance. A combination of federal, state and RIT-sponsored aid may come close to what a HEOP student would receive. I would recommend that you send documentation of your mother's unemployment and credit. We'll then be able to factor this in when calculating your financial aid award. Let me know if you have any additional questions. Best of luck!
  • Ivana Bernal

    Ivana Bernal

    16 March 2011 at 17:48 |
    Thank you so much! your blog has been very helpful :)

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