Given the state of the economy, I’m concerned about the cost of attending college. Is there any advice you can give?
Many thanks for your question – it’s one that I know many students and families have on their minds right now. Despite the tough economic times, Babson remains committed to making Babson affordable for the students we admit. Last year, we awarded $24 million dollars in financial aid to undergraduate students, more than $18.5 million of which was in the form of Babson grants and scholarships. This year, we have increased the amount of aid we will offer to our admitted students. Additionally, you should also know that at Babson if you qualify for aid, we commit to maintaining your level of financial aid throughout your four years at the College, assuming that your family’s financial situation remains relatively constant.
The first recommendation I have for any student concerned about the cost of attendance is to make sure you apply for financial aid. This year more than ever, it will be important to meet our financial aid deadlines in order for the Office of Student Financial Services to process your application as soon as possible. Applicants to Babson must complete the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile. Click here for deadlines and complete information about applying for financial aid.
Additionally, I encourage you to familiarize yourself with the various merit and need-based scholarships awarded to admitted students. A wide variety of scholarships at Babson acknowledge excellence in academics, leadership, entrepreneurship, the arts, and more. Some scholarships require a separate application or essay for consideration while others do not. Click here for details about all scholarships offered at Babson.
These are certainly difficult times. Remain focused on your goal to earn admission to colleges and universities, but also make sure to do the proper research on the financial aid opportunities at the schools on your list. Please contact us or my colleagues in the Office of Student Financial Services if we can answer your questions or concerns.
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