Eligibility & Policies
How Cornell Determines Your Financial Aid Eligibility
"Cornell University makes admissions decisions without regard to the ability of students or parents to pay educational costs. Students who are U.S. citizens or permanent residents and who demonstrate financial need will be assisted in meeting that need through one or more of the following: federal and state grants, employment opportunities, loans, The Cornell Commitment programs, scholarships from endowments and restricted funds, and Cornell grants."
- The Cornell University Board of Trustees
Cornell uses the basic formula of:
Cost of Attendance – Family Contribution = Financial Need
Cost of Attendance
Your cost of attendance will include an allowance for these expenses:
⇒ Room (standard double room)
⇒ Board (Bear Traditional)
⇒ Books and supplies
⇒ Personal and Miscellaneous Expenses
Family Contribution
- Parental Contribution
Determined by reviewing all of your financial aid application forms.
Important factors include:
Important factors include:
- Family size
- Number of children who are full-time undergraduates*
- Income
- Assets
- Unique circumstances that impact your family’s finances
- If parents are separated, divorced, or were never married, financial information for both parents is reviewed
*Cornell does not include graduate siblings in the number in college unless there is a documented parental contribution.
*Cornell verifies sibling enrollment each fall through the Sibling Enrollment Verification process.
*Cornell verifies sibling enrollment each fall through the Sibling Enrollment Verification process.
- Student Contribution from Summer Earnings
- Earnings from summer employment saved to be used toward meeting educational expenses
- Standard amounts for the 2009-2010 academic year:
$2,320 – Freshmen
$2,930 – Sophomores
$3,070 – Juniors
$3,280 – Seniors
$2,930 – Sophomores
$3,070 – Juniors
$3,280 – Seniors
- Student Contribution from Assets
- contribute 25% of the assets held in your name that were not purchased or earned by you or your parents
- contribute this same amount each year you are at Cornell
Financial Need
Your financial need equals the amount of financial aid you will be awarded.There are two kinds of financial aid:
⇒ Self-Help: loans and work opportunities (awarded first)
⇒ Grants: free money (awarded second)