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Columbia evaluates applications and family circumstances individually based on several factors including total family income, family size, and number of family members in college. The family's assets (savings, investments, additional properties) will be factored in, however the evaluation of need is based primarily on the family's earned income. Columbia also takes into consideration any extenuating circumstances such as financial support of family members living outside the household, high medical costs not covered by insurance, other educational debt, etc.
The QuestBridge College Match Scholarship will look like the package below. Students from families with total earned income less than $60,000 per year, typical assets ($250,000 or less) and straightforward financial situations who are admitted through early or regular decision will be offered similar financial aid packages. The difference for students from families with slightly higher income or with significant assets would be an increased family contribution based on the financial situation.
PLEASE NOTE: Columbia will re-evaluate each student's eligibility for financial aid each year; Columbia QuestBridge Match Scholars will need to submit updated financial information, and financial aid awards will reflect any changes in financial circumstances.
Scholarship Details
These numbers are based on costs for the 2012-2013 school year. Amounts will change slightly from year to year, but as the cost of college increases, the need-based awards will correspondingly increase.
Glossary of terms appearing in scholarship package details
| Annual Cost of Attendance |
|---|
| Total |
$62,161 |
| Tuition |
$45,028 |
| Room & Board |
$11,496 |
| Books & Supplies |
$1,040 |
| Travel |
$0 |
| Personal |
$1,858 |
| Other Fees |
$2,739 |
| How Costs Are Covered (Annually) |
|---|
| Total |
$62,161 |
| Grants |
$56,851 |
| Federal Work-Study |
$2,910
|
| Parental Contribution |
$0 |
| Student Summer Work Contribution |
$2,400 |
| Student Savings |
25% |
| Student Loan |
$0 |
Policy Regarding Outside Scholarships
Outside scholarships may be used to reduce the $2,910 work-study contribution, and/or cover the cost of purchasing a computer (up to $1,500). Outside scholarships in excess of these amounts will be used to reduce the Columbia grant dollar for dollar; outside scholarships may not be used to reduce the Student or Parent Contribution.
Policy on Health Insurance
Columbia requires all students to have health insurance, either through a parent or another plan. If the QuestBridge College Match student is not adequately covered by a parental plan while in New York (or abroad), the Columbia grant will be increased to pay for the $2,157 Columbia student health insurance.
Policy on Travel Allowance
A travel allowance will be determined by Columbia based on student location. The Columbia grant will be increased to account for this.
Other Details
Students may choose to replace their work-study eligibility or their student earnings/savings contribution with a loan.
Students are expected to contribute 25% of their personal savings/investments toward their annual college expenses. This will decrease the amount of Columbia Grant dollar for dollar.
The expected Student Summer Work Contribution and the Work-Study Expectation will increase every year, estimated at an increase of approximately $300-$500 each per year.
Personal expenses and books will be covered by the student work-study earnings (paid biweekly, directly to the student).
