Each student's eligibility is determined through a thorough review of the family's financial information. For a review of what must be submitted, by plan, see Apply for Aid. This process uses formulas and guidelines that have been carefully developed and are widely used by most of the country's leading colleges. Applying these formulas and guidelines, financial aid officers determine a family's ability to absorb college expenses over time. Once the assessment is complete, an "expected contribution" from the family is established.
The applicant's own resources will be considered along with her parents'. In particular, the incoming student will be expected to contribute approximately $2,000 from summer earnings. A portion of her own assets will be considered to be available in each of her college years as well. The factors with the greatest impact on the expected family contribution are current income and assets, size of family, and number of children in college. Financial aid decisions are announced simultaneously with the admissions decisions. A student will be notified by mail of the amount and type of award she might receive.