Sample One: Roger
Roger is from Ohio.
His parents have three children, and Roger will be the first child to attend college. Their adjusted gross income in 2009 was $82,900. His mother is salaried and earned $67,394. His father has a business that showed a profit in 2009 of $17,100. Total assets are less than $50,000 (not counting the $41,000 in a 401k). The parent contribution is calculated to be $13,880, and the student contribution is calculated to be $2,150 for a total family contribution of $16,030.
Rhodes Cost: $46,621
Direct Costs (Tuition, Room/Board, Fees): $43,060
Less Expected Family Contribution: $16,030
Financial Need: $30,591
Rhodes offered Roger a University Scholarship of $17,000, a Rhodes Grant of $6,486, Federal College Work-Study of $1,600, Federal subsidized Stafford Student Loan of $3,500 and an unsubsidized Stafford Loan of $2,000, for total assistance of $30,586. Roger’s parents are paying the balance of direct costs with a Parent (PLUS) Loan of $10,000 and the remaining balance is being paid over a ten-month period at $247/mo.