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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.