Applying and getting into an ivy league school has its own costs, monetary and non-monetary. Both of these factors are important to take into consideration while applying for an ivy league school to be well prepared. This blog provides information and insight into both these aspects.
Monetary cost-
Ivy League institutions are widely regarded as highly esteemed academic establishments that countless individuals aspire to attend. However, admission to these institutions comes at a considerable cost. Ivy League colleges are among the most expensive higher education institutions, and their tuition fees can leave a significant dent in one’s finances. Presented below is a comprehensive summary of the yearly tuition fees for each Ivy League institution in USD, along with their equivalent cost in INR.
Brown University-
Tuition per year (in USD)- 42,000
Cost (in INR)- 3341835.00
Columbia University-
Tuition per year (in USD)- 44,000
Cost (in INR)- 3500970.00
Cornell University-
Tuition per year (in USD)- 41, 325
Cost (in INR)- 3288126.94
Dartmouth College-
Tuition per year (in USD)- 40,000
Cost (in INR)- 3182700.00
Harvard University-
Tuition per year (in USD)- 37,000
Cost (in INR)- 2943997.50
Princeton University-
Tuition per year (in USD)- 38,000
Cost (in INR)- 3023565.00
University Of Pennsylvania-
Tuition per year (in USD)- 28,000
Cost (in INR)- 2227890.00
Yale University-
Tuition per year (in USD)- 34,000
Cost (in INR)- 2705295.00
Albeit the Elite level schools expenses are very high, fortunately they additionally give monetary help and help to understudies in light of their accreditations. Therefore, an outstanding student with limited financial resources should not hesitate to apply to American Ivy League universities.
Further information on financial aid in ivy league schools-
Several of these institutions provide substantial financial assistance packages as they recognize that their tuition fees may be beyond the means of many students and their families.However, in contrast to the majority of colleges, most or all of the financial aid they provide is based on a student’s financial need. Lets l go through the monetary guide contributions of these schools, who qualifies, and how to apply.
It is fortunate that the elite-level schools practice need-blind admissions for students from the US, and Harvard, Yale, and Princeton extend this policy even to international students. This means that the admissions process evaluates applicants based on their qualifications without considering their financial resources. However, admission to an Ivy League school remains highly competitive, and prospective students must present impressive credentials to be considered.
Grants that do not need to be repaid, work study programs, and, in some instances, federal student loans are all examples of this need-based financial aid. On account of some Elite level schools, similar to Harvard and Princeton, understudies will not be bundled with any understudy loans so you can graduate obligation free.
The CSS Profile and the Free Application for Federal Student Aid (FAFSA) must be completed before you can apply for financial aid at any of these schools. Many colleges also use the safe document transfer service provided by the College Board. The Institutional Document Service, or IDOC, lets you send tax returns to schools in safety. Numerous institutions require these.
You are also required to notify the school if you receive scholarships from outside sources. These might affect how much money schools give you.
Below is information on some of the ivy league colleges and how they grant financial aid to give you a better idea.
Harvard-
Although they only provide aid based on need, Harvard is extremely generous with it; After aid, the average family contribution is just $12,000, and 20% of families pay nothing. Families with annual incomes of less than $150,000 bear no tuition costs, while those with annual incomes of less than $65,000 bear no tuition at all; Those with higher incomes are paid proportionally. This pays for the school’s other costs as well as tuition.
The school also takes into account any unique circumstances your family may have, such as yearly financial shifts, additional children attending college, or income loss.
Yale-
Yale only offers scholarships based on need; Financial aid is not awarded based on merit. 64% of students receive some form of financial aid, and families with annual incomes less than $65,000 pay nothing. Need-based assistance is available to families with annual incomes up to $250,000. Financial aid awards do not take loans into account, and 84% of students graduate without any debt.
In addition to tuition, housing, meals, and books are covered by financial aid.
Columbia-
Columbia does not award merit-based scholarships but rather only aid based on financial need. They cover all demonstrated financial needs for domestic students and are need-blind. Families procuring under $60,000 each year pay nothing, and families acquiring up to $100,000 naturally fit the bill for some guide. When it comes to student financial aid awards, there are no hard income limits. Grants and work-study programs are the only forms of financial aid; Loans are not taken into account or included in awards.
Cornell-
Cornell offers grants in light of need, as opposed to on justification. The expected family contribution is based on income, and the school has pledged to meet all New York residents’ financial needs. It is not expected of families with annual incomes below $60,000 to pay anything and to take out loans. Loans are taken into account when calculating financial aid for families earning more than this. All of the country’s students’ financial requirements are met, but international students only receive a limited amount of financial aid. Even though all aid is administered centrally and only comes in the form of grants or work-study, the total cost of education varies by undergraduate school. Loans are not taken into account or included in awards.
Non-monetary cost-
Applying to ivy league schools has some given requirements that other schools wouldn’t have or wouldn’t have to this extent.
Below is a list of some requirements to get into a program at any one of the Ivy League Colleges:
- Excellent Academic Transcripts for all classes from class 9 and upwards. When compared to other colleges, the acceptance rate for Ivy League institutions is extremely low. High test scores and exceptional transcripts are required. Even this may not be enough, as these universities are looking for outstanding students who have demonstrated their ability in a lot more areas than just academics, such as sports, volunteering,
- Exceptional Standardized Test Scores in GMAT/ GRE or ACT/SAT
- High scores in TOEFL/ IELTS as proof of proficiency in English language
- Impactful Essays
All the above requirements translate to tons of time being spent on preparation for entrance and standardized tests alone. Apart from this, a lot of time will need to be devoted to extracurriculars, personality building, and the application process which involves impressive, deep essays. This is something Rostrum’s ivy league admissions consultants can help a lot with. They’re equipped with tools and experience to help you with your essays, sharpening them and ensuring that they reflect the best version of you.
In short, ivy league schools will demand devoting extra time apart from time for your academics to build an extremely strong profile which could involve stepping out of your comfort zone and looking for opportunities in extracurricular activities that help define you as a person, are related to your choice of major, as well as build you as a human being. Mental energy is another non-monetary factor. Applying to an ivy league college can be extremely stressful and challenging at times because of their high standards and high competition. This could become mentally taxing, especially because you’ll be in your higher grades at school during this time which in themselves are quite challenging and time consuming, and so having good mental capacity and energy is definitely an important factor. To help with this, Rostrum’s ivy league admissions consultant or schools consultants in India and other places, understand and empathize with applicants of ivy league colleges. They are therefore well equipped to help guide you through the mental stress and make the process much easier. Furthermore, many excellent, overachieving students will be applying to ivy league schools, just like you. This means that it can be hard to remain a “star” or a topper if that’s how you identified yourself back in high school. This can be mentally challenging and leave many students questioning their identities. Furthermore, it takes a mental toll on your family as a whole because of the high costs involved. A lot of ivy league applicants report feeling like “imposters” because of the fact that while applying for things they are passionate about, like a sport, they realize how there are others of the same age who are at a much higher level at the activity than they are. This can demotivate you and alienate you from your passions. In addition, it is important to note that due to the highly competitive nature of the admissions process, the acceptance rate for Ivy League colleges is relatively low. Therefore, even if a student possesses a strong profile, there is still a chance they may not be admitted. This outcome can be disheartening for students and may lead to a false sense of inadequacy.
To conclude, though ivy league schools are extremely prestigious and getting into one is a great honor, it involves a lot of sacrifices, time, mental energy, etc. However, the application process and the aftermath can be made much easier with the right kind of support that you can achieve from Rostrum’s ivy league admissions consultant or schools consultants.
