We know that choosing the right college involves a variety of factors, and the cost of the institution and how you will finance your student’s education are extremely important considerations. A student should never decide not to apply to Columbia because they think the cost exceeds their family’s ability to pay. Need-based aid makes it possible for everyone to afford a Columbia education.
Columbia alumnus John W. Kluge, CC’37, recently pledged $400 million dollars for Columbia financial aid: the largest pledge ever devoted exclusively to student aid to any single institution of higher education in the United States.
Important Columbia Financial Aid Vocabulary:
Need-Blind Admissions: Columbia does not consider a candidate’s ability to pay tuition when making a decision on her or his candidacy. This policy covers all citizens of the United States, Canada, and Mexico, as well as applicants with permanent resident or refugee status in the United States. For other applicants, level of need is one of many factors in admission review.
Need-Based Financial Aid: As with our Ivy League peers, scholarships (grants) and financial aid at Columbia are granted on the basis of need alone, and not on academic, athletic or artistic talent.
Meet Full Demonstrated Need Guarantee: All admitted students whose families are unable to afford part or all of the cost of attendance receive a financial aid package to cover the difference between the cost of attendance (including housing, dining, books, and spending money) and the expected family contribution.
Financial Aid is determined by a variety of factors. Columbia expects you and your family to contribute to your college costs by assessing the information you provide on all financial aid application forms. The resulting “family contribution” will include both a “parental contribution” and a “student contribution.” If the calculated family contribution is less than the cost of attendance, aid is awarded to make up the difference.
We make every effort to help meet students’ financial needs. Columbia recently announced extensive enhancements to its undergraduate financial aid program. In our quest to make Columbia affordable for all students, especially those from middle and low-income families, the University will implement the following financial aid enhancements for all incoming and continuing students beginning with the 2008-2009 academic year:
- Columbia will eliminate loans for allstudents receiving financial aid, whatever their family income, and replace them with University grants.
- In an effort to further assist low-income families, parents with calculated incomes below $60,000 will no longer be expected to contribute any of their income or assets to tuition, room, board and mandatory fees.
- Families with calculated incomes between $60,000 and $100,000 and typical assets will see their parent contributions significantly reduced.
- To support students pursuing study abroad, research, internships and community service opportunities, Columbia will offer additional funding and exemptions from academic year and summer work expectations.
These enhancements build on previous financial aid initiatives and a long standing commitment to make Columbia affordable for all admitted students.