As you make your final decision about where to attend college, financial aid is most likely one of the things you and your family will consider carefully. If you have not yet received your financial aid package, there are a few pieces of information in the Frequently-Asked-Questions section that might help you.
If you have already received your financial aid package from Lawrence and are trying to make sense of it, this page was put together especially for you. We’ve pulled together a list of the questions students and their families most often ask us.
Above and beyond the technical questions you have about financial aid, however, we want to present to you some questions we think you should be asking yourself as you consider your financial aid award from Lawrence and compare it to packages you may have received from other schools.
- What is the value of the education I will receive at Lawrence, as well as the value of each of the other colleges I’m still considering? Is it really a bargain to pay less for an education if it doesn’t meet my needs?
- What is the likelihood that I can graduate on time? How will not graduating on time affect the total cost of my investment? Think about it as more than one or two more years of tuition, but also one or two more years of foregone income. (For what it's worth, you should consider an investment in Lawrence to be a four-year investment - unless, of course, you're in our five-year, double-degree program. In either case, you should count on graduating on time.)
- When comparing financial aid packages from different institutions, am I comparing apples to apples? Lawrence puts together financial aid packages using a total budget that includes tuition, room and board, activity fee, an estimated amount for travel, books, and other personal expenses. Have other colleges included these things as well, or will I need to pay those costs above and beyond the package I‘ve received from them?
- What is the composition of my financial aid package from each institution – what is the percentage of loan, work study, and gift aid?
- How much of my need will be met by each college in future years? Will my financial aid packages at each school remain consistent from one year to the next or not? (Remember that Lawrence University strives to make it financially viable for all admitted students to attend...and that means every year, not just freshman year.)
- How much loan debt am I willing to take on during my college career?
- Are the merit scholarships I’ve received from each institution renewable for my entire time at the college? What are the renewal criteria for the scholarships?