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 three 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.
See three sample family aid awards:
- Family A: Family income is $40,000.
- Family B: Family income is $75,000.
- Family C: Family income is $100,000.
Family A
Family A Their family income is $40,000. They have no assets and live in a rented apartment. The student will be traveling from the West Coast.
COSTS
Tuition, room & meal plan, fee: $70,200
Books & personal expenses: $2,050
Travel*: $1,200
Total costs: $73,450
RESOURCES
Parental contribution: $0
Student’s contribution: $1,950
Total resources: $1,950
TOTAL FINANCIAL NEED
(Total costs minus total resources): $71,500
OUR FINANCIAL AID PACKAGE
Wellesley scholarship: $69,400
Work-Study job: $2,100
Student loan: $0
TOTAL AID AWARD: $71,500
Family B
Their family income is $75,000. They have $500 in assets and live in a rented house. The student will be traveling from the Midwest.
COSTS
Tuition, room & meal plan, fee: $70,200
Books & personal expenses: $2,050
Travel*: $500
Total Costs: $72,750
RESOURCES
Parental contribution: $6,200
Student’s contribution: $1,950
Total resources: $8,150
TOTAL FINANCIAL NEED
(Total costs minus total resources) $64,600
OUR FINANCIAL AID PACKAGE
Wellesley scholarship: $60,700
Work-Study job: $2,100
Student loan: $1,800
TOTAL AID AWARD: $64,600
* Transportation allowances vary by state
Family C
Their family income is $100,000. They have $10,000 in assets and $100,000 of home equity. The student will be traveling from the East Coast.
COSTS
Tuition, room & meal plan, fee: $70,200
Books & personal expenses: $2,050
Travel*: $100
Total costs: $72,350
RESOURCES
Parental contribution: $15,000
Student’s contribution: $1,950
Total resources: $16,950
TOTAL FINANCIAL NEED
(Total costs minus total resources) $55,400
OUR FINANCIAL AID PACKAGE
Wellesley scholarship: $50,300
Work-Study job: $2,100
Student loan: $3,000
TOTAL AID AWARD: $55,400
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.