I have a question that is maybe not especially specific to Dartmouth, but I'm asking it here because I think I understand how their financial aid works better than other schools' (also they're my first choice, but since my boyfriend is the applicant, my opinion might not matter so much
)
I found this
"student expense budget" on the Dartmouth website. It says that tuition is (approximately) $50k and your total expenses will be (approximately) $70k.
As I understand Dartmouth's financial aid, they first assess your financial need, then issue a "base loan" (currently a little more than $25k, but for convenience, I'll just say it's exact), then they determine your family contribution, and then anything left over is covered with scholarships. So if you and your family are quite poor, you won't be expected to contribute anything beyond the base loan, and they'll pay the rest in scholarships. Please correct me if I'm wrong!
So I guess what my question boils down to is this: If your expected contribution is $0, and you've got a base loan of $25k (per year), will your scholarship award be closer to $25k (to put you at the $50k you need for tuition) or $45k (to put you at the $70k you need for all tuition/education/living costs)? Can you take out extra loans if you need more?
I assume most students fall somewhere in the middle, where they have some expected family contribution, but I thought it would be easiest to wrap my head around the concept using a simplified model where the student doesn't owe anything. The "summer earning contribution" further complicates things, so if someone could also explain where exactly that money is going, that would definitely help!
Good luck to everyone who applied this cycle!
My boyfriend is not looking to apply until next year, so I'm sure we'll both be around holding our breath and crossing all our fingers every which way this time next year!