Financial Aid Example: Alex

When Alex’s parents used an on-line estimator to see about eligibility for financial aid – they were horrified by what they found – the estimator told them that they had an estimated family contribution of $73,053! They knew they had a very good income, and that they had tried to save and create a good asset base as well.

But even so, they didn’t see an extra $73,000 to use for Alex’s education, and had just about ruled out a Lutheran college. But, Alex, who had spend significant amounts of time researching college opportunities, was certain that a Lutheran college in a neighboring state provided the combination of strong academics with an active music and theater program that would perfectly fit his needs and interests.

Alex contacted the college and applied for, and won, a prestigious scholarship competition on the basis of his strong GPA (4.0), SAT of 1350, and a music audition.

Financial Profile

Expected Family Contribution = $73,053

The Financial Aid Package:

Alex and his parents viewed student loans as an opportunity for Alex to fund part of his education – for he will be the beneficiary of that education.

Since he is considering a career in teaching – an occupation for which strong demand is predicted into the future - Alex is comfortable with investing in his future through student loans. Alex’s total financial aid – more than $25,000.