Sample Aid Awards

Sample Aid Awards: Aid packages contain various amounts and types of aid. 

Many factors go into the determination of the family contribution. The amount of loan in the package (if any) is a function of family income and overall financial strength. The following are sample awards illustrating a number of different family situations.

For purposes of illustration, we have held some factors constant. All of the families have two parents, both employed outside the home, and two children, one at Wellesley and one in high school. We hope that you find these examples helpful.

Samples
Sample 1 Sample 2 Sample 3 Sample 4
California
family of 4
Illinois
family of 4
New Jersey
family of 4
Michigan
family of 4
$39,500 income $74,740 income $100,900 income $121,000 income
See their aid awards below.

SAMPLE 1:

California Family of 4 • income $39,500
This California student comes from a family with an income of $39,500. They have no assets and live in a rented apartment. The family also has no health insurance.
COSTS
Tuition, fees, room and board $63,916
Books and personal expenses $2,050
Travel $1,150
Total Costs $67,116
RESOURCES
Parent Contribution $0
Student Contribution $1,950
Total Resources $1,950
      TOTAL DEMONSTRATED NEED (total cost minus total resources) $65,166
OUR FINANCIAL AID PACKAGE
Wellesley Scholarship $63,066
Work-Study job $2,100
Student Loan $0
     TOTAL AID AWARD $65,166

 

SAMPLE 2

Illinois Family of 4 • income $74,740
This Illinois student comes from a family with an income of $74,740. They have $500 in assets and live in a rented house
COSTS
Tuition, fees, room and board $63,916
Books and personal expenses $2,050
Travel $500
Total Costs $66,466
RESOURCES
Parent Contribution $6,200
Student Contribution $1,950
Total Resources $8,150
     TOTAL DEMONSTRATED NEED (total costs minus total resources) $58,316
OUR FINANCIAL AID PACKAGE
Wellesley Scholarship $54,416
Work-Study job $2,100
Student Loan $1,800
     TOTAL AID AWARD $58,316

SAMPLE 3

New Jersey Family of 4 • income $100,900
This New Jersey student comes from a family with an income of $100,900. They have $10,000 in assets and $100,500 in home equity.
COSTS
Tuition, fees, room and board $63,916
Books and personal expenses $2,050
Travel $200
Total Costs $66,166
RESOURCES
Parent Contribution $12,300
Student Contribution $1,950
Total Resources $14,250
     TOTAL DEMONSTRATED NEED (total costs minus total resources) $51,916
OUR FINANCIAL AID PACKAGE
Wellesley Scholarship $46,816
Work-Study job $2,100
Student Loan $3,000
     TOTAL AID AWARD $51,916

SAMPLE 4

Michigan Family of 4 • income $121,000
This Michigan student comes from a family with an income of $121,000. They have $17,000 in assets. Due to the recession, they've lost equity in their home.
COSTS
Tuition, fees, room and board $63,916
Books and personal expenses $2,050
Travel $500
Total Costs $66,466
RESOURCES
Parent Contribution $17,950
Student Contribution $1,950
Total Resources $19,900
     TOTAL DEMONSTRATED NEED (total costs minus total resources) $46,566
OUR FINANCIAL AID PACKAGE
Wellesley Scholarship $41,466
Work-Study job $2,100
Student Loan $3,000
     TOTAL AID AWARD $46,566

 

Please keep in mind that these are sample cases. Each student who applies for financial aid is reviewed on an individual basis. Financial aid packages may differ from those listed above.