Frequently Asked Questions

1. Who is eligible to receive financial aid?
2. What is the cost of attendance at Cornell?
3. Does Cornell offer merit aid?
4. How and when do I apply for financial aid?
5. When will I receive my financial aid decision notice?
6. How is my financial aid eligibility determined?
7. Will my financial aid package be the same every year?
8. How do I read my financial aid notification letter?
9. Is there a financial aid appeal process?
10. I have loans in my financial aid package; how do I accept them?
11. When will the loans I've accepted credit to my Bursar account?
12. How do my parents apply for a parent loan?
13. How will outside scholarships affect my aid package?
14. What if I cannot meet the Summer Savings Expectation?
15. What is Federal Work-Study and Employment Earnings Expectation?
16. How do I find a job on campus?
17. What are the requirements for being considered an independent student?

1. Who is eligible to receive financial aid?

Financial aid from our office is available to undergraduate students who are citizens of the U.S., Canada, and Mexico. If you are a permanent resident of US or Canada, you are also eligible for financial aid. If none of the above situations apply to you, please contact the Undergraduate Admissions Office (UAO).

2. What is the cost of attendance at Cornell?

The average cost of attending Cornell University during the 2006-2007 is approximately $41,342. Your tuition will vary, depending on the Cornell undergraduate colleges in which you are enrolled, but the financial aid budget for other Cornell expenses such as housing, dining, books, supplies, and personal expenses is the same for all students. Keep in mind, however, that if you apply for and receive financial aid, your expected family contribution would be the same, regardless of your Cornell college tuition charges.

3. Does Cornell offer merit aid?

Cornell University offers financial aid solely on the basis of demonstrated financial need. We do not offer merit awards based on academic, athletic, musical or other talent.

4. How and when do I apply for financial aid?

Submit the necessary forms and applications by the deadlines listed. If you wish to be considered for aid each year, you must reapply every year.

5. When will I receive my financial aid decision notice?

If your financial aid application is submitted on time, you'll receive your aid notification shortly after your admission decision. Early Decision applicants are notified in mid-December. Regular Decision applicants are notified in early April. Fall transfer applicants are notified in mid-June and Spring transfer applicants are notified in mid-December.

6. How is my financial aid eligibility determined?

Income and assets, family size, and the number of children who are full-time undergraduate students are all taken into consideration. If parents are separated or divorced, Cornell reviews each one's financial information. Usually each is expected to contribute, and that expectation continues throughout your undergraduate years here. A review of your CSS PROFILE determines your eligibility for Cornell-based aid, and estimates your eligibility for federal financial aid. Your family's FAFSA information confirms your eligibility for federal aid.

7. Will my financial aid package be the same every year?

If your family financial situation does not change significantly and you file your financial aid application on time each year, you can expect a similar aid package every year during your undergraduate career at Cornell. Some factors may raise or lower your financial aid. Changes in income, number of people in the household, or the number of children who are full-time undergraduate students can change the way your need is calculated.

8. How do I read my financial aid notification letter?

Below are the components of your financial aid package and what they mean:

: Tuition and Fees
This amount represents academic year tuition and the student activity fee for the college or school to which you have been admitted. These are expenses that will appear on your bursar bill.
Room and Board
The room and board allowance is based on the standard double room rate and the standard dining plan. These are also expenses that will appear on your bursar bill.
Books and Supplies
This amount is what most students can expect to spend for the academic year on books and supplies for their courses. Your expenses may be higher or lower than this amount, depending on your coursework and major. These are anticipated expenses that will not appear on your bursar bill.
Personal Expenses/Travel
This is an allowance toward miscellaneous expenses such as a fitness center membership, laundry plan, bus pass, and other personal expenses you may incur while you are on campus. Your actual expenses may be higher or lower than this allowance, depending on how you budget your money. These are anticipated expenses that will not appear on your bursar bill.
Financial Need
Financial need is the cost of attendance minus the total family resources.
Student Summer Savings Expectation (SSE)
The SSE is the amount that Cornell expects the student to contribute from employment earnings saved the summer before the academic year.
Student Contribution from Assets (SCA)
During your first year, you will be expected to contribute 25% of the assets held in your name that were not earned and saved by you or your parents. In subsequent years, you will be expected to contribute the same amount, as long as your assets do not increase.
Scholarship/Grant Aid
This may include any Cornell University administered grant, and any state or federal grant for which you are eligible. This may also include any outside scholarships you were awarded. These funds do not need to be repaid.
Self-Help
This is a combination of employment opportunity and loan eligibility. Any student loans will need to be repaid, generally after you graduate.

9. Is there a financial aid appeal process?

If there is new information that affects your family's ability to meet the expected family contribution, or if you think we may have overlooked some aspect of your family's financial circumstances, you may request a reconsideration of your financial aid package. Please notify our office in writing (via email, fax, or US mail) of your request for aid reconsideration, making sure to clearly mark any correspondence "Appeal." Since we offer the best aid package we can based on the initial information we've been given, reconsideration is based on additional supporting documentation provided by your family. This includes most recent federal tax returns if they haven't already been sent.

10. I have loans in my financial aid package; how do I accept them?

The loans listed in your financial aid package are loan funds offered through Cornell University. If you do not wish to accept a particular loan, notify our office in writing of the loan you do not wish to receive. To accept the loans in your financial aid package, follow the instructions below:

: William D. Ford Federal Direct Loan (Subsidized or Unsubsidized)
You can accept this loan by following the instructions to sign the Electronic Master Promissory Note (EMPN) online at http://dlenote.ed.gov. You will also need to complete the Direct Loan Entrance Counseling Interview online at www.dlssonline.com.
Federal Perkins or Cornell University Loan
You can accept either of these loans by following the instructions to sign the Electronic Master Promissory Note (EMPN) online at www.ecsi.net/promM3.
Recommended Alternative Loan
Any Cornell undergraduate student may apply for an alternative loan through an outside lender to help cover educational expenses.

11. When will the loans I've accepted credit to my Bursar account?

The loans offered in your aid package will show on your bursar bill as a pending credit until you complete the steps to accept them (or notify our office to decline them). Disbursements are split between fall and spring semesters and the disbursement date is usually 10 days before classes begin each semester. If no action is taken, the pending credits will eventually be removed from the bursar bill and any remaining balance will be the student's responsibility.

12. How do my parents apply for a parent loan?

Parents wishing to apply for a Parent Loan for Undergraduate Students (PLUS Loan) will be required to apply through Cornell University and the Department of Education. To apply, complete the PLUS application (available on our website) and return it to our office. When you are notified of the approved amount, follow the instructions on the Department of Education's website, http://dlenote.ed.gov to sign the Electronic Master Promissory Note (EMPN) for parents.

13. How will outside scholarships affect my aid package?

At Cornell, outside scholarships, grants, and tuition benefits reduce the self-help component of your financial aid package (first loans, then work eligibility). If the amount you're receiving in outside scholarship funding exceeds the amount of work and loan in your aid package, remaining outside scholarship funds may be used to reduce your Cornell grant funding. Since outside awards are additional resources which reduce your need, they cannot be used to reduce the parent contribution or other expected family resources. Please be aware that any state grants will reduce your Cornell grant, dollar for dollar, with the exception of merit-based state awards. Scholarship checks received by our office will be divided equally between fall and spring semesters, unless otherwise indicated in writing by the donor. We can make adjustments to your aid package at any time of the year, and we encourage students to seek as many outside awards as possible. Please notify the Office of Financial Aid and Student Employment of any outside awards you anticipate to receive.

All outside scholarship checks should be sent to:

: Cornell University
Office of Financial Aid and Student Employment
Scholarship Division
P.O. Box 752
Ithaca, New York 14851

Click here for information on free outside scholarship searches.

14. What if I cannot meet the Summer Savings Expectation?

If you were not able to work or earn the full amount, an adjustment may be available. This adjustment will provide eligibility for additional loan or work-study to cover the portion of your SSE that you do not have. The adjustment form is available at the end of the summer and the deadline to submit the form is usually at the beginning of October.

15. What is Federal Work-Study and Employment Earnings Expectation?

Federal Work-Study (FWS) is a federally funded wage subsidy program designed to create jobs to help students meet their educational expenses. FWS may be awarded to students as part of their aid package based on the student's eligibility as defined by federal regulations. Through the FWS Program, the federal government pays a percentage of an eligible student's wages, making the student an appealing job applicant. Students not eligible for FWS may have an Employment Earnings Expectation (EEE) amount listed in their financial aid package. EEE is an estimate of the amount you are expected to earn through part-time employment during the academic year to help meet educational expenses. When you work, you are paid bi-weekly in the form of a paycheck, and you determine how best to use those earnings toward your educational expenses.

16. How do I find a job on campus?

Cornell does not place students in jobs. Students conduct their own job search to identify opportunities that best fit their interests, skills, and class schedules. You can access the job postings (through Bear Access) once you have obtained a valid Cornell ID/NetID. Most academic year jobs will be advertised starting in August.

If you have additional questions about your financial aid or about student employment, please feel free to contact us by phone at 607-255-5145 or via email at finaid@cornell.edu.

17. What are the requirements for being considered an independent student?

There are two types of independent status for aid purposes; Cornell Independent Status and Federal Independent Status.

: For Cornell aid purpose: If you are admitted as a dependent student, you will always be a dependent student while you are an undergraduate student.

For Federal aid purposes: You must be able to answer yes to one of the following questions:
Are you married?
Are you 24 by December 31st of the award year?
Are you an orphan or ward of the court?
Are you a veteran of the US Armed Forces?
Do you have children or other dependents who receive more than half of their support from you?

If you are federally independent, this does not mean that you are automatically Cornell independent. If you have additional questions or would like to request the Independent Student Certification form, please contact our office.