The Student Room Group

Financial Aid

If I was to get into Harvard or Cornell or a school like that, would the financial aid give me some money I could spend on whatever I like ? If not how does a student get recreational money? Thanks.
Reply 1
If, first of all you get financial aid, which is quite difficult, you would then have to see if the aid covered MORE than the cost of your tuition, room and board, and books, then whatever was left over you could spend on what you want, i believe. The likelihood of this happening is very, very small, especially at schools such as Cornell and Harvard, which are quite expensive. Also, be careful when looking at student aid packages, as they often include loans which HAVE to be repaid as part of the student aid. They are NOT free money.
Original post by Heliantha
If, first of all you get financial aid, which is quite difficult, you would then have to see if the aid covered MORE than the cost of your tuition, room and board, and books, then whatever was left over you could spend on what you want, i believe. The likelihood of this happening is very, very small, especially at schools such as Cornell and Harvard, which are quite expensive. Also, be careful when looking at student aid packages, as they often include loans which HAVE to be repaid as part of the student aid. They are NOT free money.


Some schools have a no loan policy.
Original post by GWAC
If I was to get into Harvard or Cornell or a school like that, would the financial aid give me some money I could spend on whatever I like ? If not how does a student get recreational money? Thanks.


OP, you're going to find it very heard getting "recreational money" in the states. Harvard and schools of that caliber tend to only cover tuition, room and board - assuming your family income is low enough. Even then, you would normally have some form of student contribution of $1500 - $3000 that you have to pay by working on campus. That being said, the closest thing you'll have towards additional spending money, is if you win a major scholarship (e.g. Morehead, Robertson) where they will give you stipend in addition to covering room, board and tuition.

The caveat emptor here is that it's extremely difficult to get into schools like Harvard, Stanford and the Ivies, so you would have to be extremely lucky to get any funding.

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