Purdue scholarship chart clearly spells out basics, but the devil is in the details

Basic information about Purdue University merit scholarships is clearly spelled out in an easy-to-read chart.  However, understanding important details below the surface calls for further scrutiny.

Here is Purdue’s chart.

Click to enlarge.

…
I like charts.  They’re quicker and easier to use if I’m trying to pull out key information about how much college is going to cost.  Click the image on the right to see another chart showing all categories of financial aid at Purdue.

…
…
Purdue is a state school ranked #62 on the USNews list of national universities.  It is particularly strong in engineering, included in the top ten of USNews Best Undergraduate Engineering Programs Rankings.  Other well-regarded areas include business, education, and health sciences.  Cost of attendance is $23,468 for Indiana residents and $42,480 for non-residents. (The maximum Trustee scholarship of $16,000 would put a significant dent in that non-resident tuition bill.)

Some details about Purdue scholarships

• Apparently merit funds vary considerably among departments, with the school of engineering reportedly having the largest budget.
• Applicants and students who switch majors may lose their scholarships, important to know since engineering is notorious for weeding out students.
• Purdue grading is tough, so maintaining the grades needed to renew a scholarship each year could be especially challenging.  Getting an A is hard for the Boilermakers with an average GPA that has hovered around 2.8 for over 30 years. Purdue doesn’t even seem to know that grade inflation exists in America. 

Considering the risks of losing merit financial aid, I would think long and hard before encouraging an out-of-state student to accept a scholarship to attend Purdue as an engineering major.  The stress of keeping up good grades in that environment could be overwhelming.

Psst – one of Duke’s so-called merit scholarships is actually need-based

Be wary of merit scholarships that take financial need into account.
…

THE DUKE UNIVERSITY SCHOLARS award is listed as a merit scholarship, but it is actually based on financial need.

In one section of their website, it is described as completely merit-based.

Merit Scholarships
Duke University also offers a limited number of merit scholarships. All applicants for admission are automatically considered for any available merit scholarship; specific applications are not required, and are not available. Our merit scholarship programs do not require that the winner demonstrate need; merit scholarships are based on the student’s academic and personal profile.

But if you read further on the University Scholars website, you see a contradiction.

As University Scholars are selected in part on the basis of financial need, it is imperative to file any required financial aid forms as early as possible, preferably by mid-February.
 …

THE UNIVERSITY OF ROCHESTER MERIT SCHOLARSHIPS take financial need into account in a more subtle way.

From the University of Rochester website:

Merit-based scholarships … are awarded to students who demonstrate outstanding academic achievement and potential, regardless of financial circumstances.…

We distribute merit-based aid regardless of a family’s demonstrated financial need.

However, in candid blog post Jonathan Burdick, Rochester Dean of Admissions and Financial Aid, wrote about the curious correlation between lower income and increased merit award amount.

We had a “progressive tax” in our merit. On average, each four dollars less in family income increased merit awards one cent. Not much impact per student, but noticeable overall.

Hmm, the lower your income the more merit money you receive.  In defending the correlation, Burdick explains that financial need is incorporated in a camouflaged way.

… needier students were on average more likely to have earned larger merit awards from the committee review process. I expect this result reflects the sympathy most reviewers might have for students whose essays and letters of recommendation describe tougher life circumstances. You don’t have to see a tax return to admire someone who has both achieved in school and comes from a single-parent home, or will be the first in the family to attend college, etc.

This was exactly my thinking, that the reviewers sometimes give extra “points” to students from families with lower incomes, euphemistically described as tougher life circumstances. Parents must decipher this information on their own, since colleges may claim that financial circumstances are not a factor in deciding merit awards.

Be forewarned.  Sometimes even when colleges insist that a scholarship is awarded solely on merit, family income does matter.

…
Related articles:

• Only two of the top ten universities give out merit scholarships
• Family income matters for ‘merit’ awards at the University of Rochester

Only two of the top ten universities give out merit scholarships

While all the top ten ranked universities offer generous need-based financial aid, only two – University of Chicago and Duke – award merit scholarships.

First, here are the top ten universities as ranked by US News & World Report.

#1         Harvard University
#1         Princeton University
#3         Yale University
#4         Columbia University
#5         California Institute of Technology
#5         Massachusetts Institute of Technology
#5         Stanford University
#5         University of Chicago
#5         University of Pennsylvania
#10       Duke University

…
Chicago offers less aid to more students

Chicago awards merit aid to about 10% of its freshman, averaging about $8,000 per recipient.  Here is the description from their website:

Merit awards are determined by the Office of College Admissions regardless of financial need and are guaranteed for four years of undergraduate study. They include the following:

• University Scholarship: Partial scholarships ranging from $5,000 to $15,000, renewable for four years
• Chicago Public Schools Scholarship: A full-tuition scholarship to selected students who have graduated from a Chicago Public Schools high school
• Police and Fire Scholarship: A full-tuition scholarship to selected students who are sons or daughters of active-duty Chicago police officers or firefighters
• The University also honors National Merit Finalists with a renewable award of $1,000 to $2,000.

…
Duke offers more aid to fewer students

Duke gives merit aid to about 3% of its freshman, averaging about $25,000 per recipient according to US News reporting.  This excludes their athletic scholarships.  More information is available at their website, but you have to wade through the details to learn that some of these “merit” scholarships actually have a need component.  (I’ll write about this messy detail in a future post.)

…
Scholarship information for both schools from USNWR, based on 2010 data

University of Chicago Non-need-based Scholarships/Grants
Average non-need-based scholarship or grant award (freshmen)	$7,772
Average non-need-based athletic scholarship or grant award (freshmen)	$0
Average non-need-based scholarship or grant award (undergraduates)	$12,854
Average non-need-based athletic scholarship or grant award (undergraduates)	$0 …

Duke Non-need-based Scholarships/Grants
Average non-need-based scholarship or grant award (freshmen)	$24,985
Average non-need-based athletic scholarship or grant award (freshmen)	$39,470
Average non-need-based scholarship or grant award (undergraduates)	$21,158
Average non-need-based athletic scholarship or grant award (undergraduates)	$38,398

How to approach the private (non-institutional) college scholarship search

Although private (non-institutional) scholarships comprise only about 6% of total college financial aid, it can still be worthwhile to devote some time pursuing them.  But it’s important not to get caught up in wasting time chasing small awards, so a methodical, no-nonsense approach like this one from Lee Bierer makes sense.

Start local: Contact your guidance office and check your local high school website. If your high school doesn’t publish a list of scholarship opportunities, check other public and private schools in your area.

Don’t get caught up in the big-money dream: The big-money scholarships (Coca-Cola, Prudential, etc.) receive more than 100,000 applications each year. You’re better off looking in your own backyard for scholarship opportunities. Places to think about: civic groups, Rotary, breakfast clubs, parents’ employers, organizations, churches, local businesses, etc.

Look for “renewable” scholarships: A $500 renewable scholarship may not sound like much at first, but over four years it totals $2,000.

Invest your time wisely: Read the fine print on eligibility and deadlines. Make sure your application positions you as someone deserving of the scholarship. You are better off with a rifle approach where you select “targets” based on an appropriate match. The “shotgun” approach of blasting out applications doesn’t work; don’t waste your time.

Determine whether you are a realistic candidate: Understand the purpose of the scholarship, research who has received it in the past and be honest about how likely your chances are of winning the scholarship.

Related articles

• Top ten college scholarship myths (costofcollege.wordpress.com)

SUNY Plattsburgh automatic merit scholarships and more

Although state schools in New York are not known to be overly generous with merit-based financial aid, it is still worthwhile to learn what exactly is available.  SUNY Plattsburgh is one school that publicizes specific merit awards, even offering a scholarship calculator to learn if you qualify for any of their automatic grants for freshman ranging from $2,500 to $5,000.

Plattsburgh awards more than $1.5 million in scholarships to undergraduate students. About one in every five undergraduates has a scholarship of some sort, either funded by the college or foundation. Scholarships do not have to be repaid and are primarily awarded to students based upon academic achievement.

Here are the results for a few hypothetical students based on the Plattsburgh scholarship calculator.

*Assuming parent income of $85,000 with $1,971 in need-based financial aid estimated using the Net Price Calculator.  Competitive scholarships would further reduce net costs.

(You can read more about the preferred status of out-of-state students here:  SUNY wants ‘D’ students, as long as they’re from out of state)

Students can continue to receive these scholarships after their freshman year by demonstrating satisfactory academic progress and meeting other criteria.  In addition to the automatic scholarships (based solely on GPA and test scores) SUNY Plattsburgh students can apply for the competitive full-tuition Presidential Scholarship and for acceptance into the honors program.

BusinessWeek labels Plattsburgh as “selective”, with a rank of 91 on their list of Regional Universities (North).   Undergraduate enrollment is 5,906, with the most popular majors being business/marketing, education and communications/journalism.  Homeland security and related protective services majors are also popular.  It is located on the shores of Lake Champlain, about an hour’s drive from both Montreal and Burlington, VT.

University of Alabama scholarships – Roll Tide!

The University of Alabama awards merit scholarships to about 25% of its incoming freshman class, including the full-ride offered to National Merit and National Achievement finalists.  It’s a sweet deal that pays full tuition, housing, a laptop computer, $1,000 per year cash and a $2,000 allowance for research or international study.  Other generous scholarships pay full and partial tuition to students with high SAT and ACT scores.

For many students from the Northeast and other parts of the country, the thought of attending school in the Deep South is a strong disincentive for even initial consideration of these generous scholarships.  Beyond the location, a high-achieving student may have other objections to UA.  Concerns about size, intellectual climate, diversity, conservative atmosphere, strong Greek presence,  and heavy football culture are often mentioned.

Most students cannot be “talked into” a particular college, certainly not by their parents.  But if parents want (or need) their children to consider colleges that offer significant merit aid, they should investigate UA more closely and even think about visiting.  There are many stories of previously unenthusiastic students won over by the positive experience of visiting UA.  Keep in mind that students who are part of the UA Honors College benefit from  close association with hundreds of NMFs and other high-achieving scholars.  It’s clear that a rigorous intellectual experience for its top students is a priority for this school.

I’m not trying to push Bama as the perfect college for all students.  But I know that the alternative of paying $100,000 or more to attend a full pay school would be a hardship for many families.

Some quick facts from the school website:

The University of Alabama ranked 6th in the nation among public universities in the enrollment of National Merit Scholars in the 2010 freshman class.

The University of Alabama ranked among the top 50 public universities in the nation for the 10th consecutive year in U.S. News and World Report’s annual college rankings, fall 2010.

Of the 30,232 undergraduate, professional, and graduate students enrolled at UA in the fall semester of 2010,

• 67% come from Alabama
• 31% come from elsewhere in the United States
• 3% are international students from 72 countries
• 27% of our undergraduates belong to sororities or fraternities
• 53% are women
• 12% are African-American
• 2% are Hispanic-American
• 1% are Asian-American