Syracuse University is a private school with a “sticker price” of

$59,000Sticker Price

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SUNY Albany is a public state school with a “sticker price” of

$22,000Sticker Price

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So then, according to our calculations, with Syracuse being $59,000/year and SUNY Albany being $22,000/year it would cost about $37,000/year MORE to go to Syracuse, correct?

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Very few families can afford to pay the “sticker price” of a college.

In fact, many will have an EFC (Estimated Financial Contribution) of $0.

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To make college more affordable,

colleges offer financial aid.

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However, it’s very important to know what type of aid you are

getting.

The most desirable kinds of aid are through Grants and

Scholarships

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Grants and Scholarships are “free” money. You do not have to pay them back.

The other kind of aid is through Loans. This is money the colleges (or

government) will give you, but you have to pay them back – often with

interest.

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Syracuse meets 95% of students need and 73%* of that comes in the form of Grants and Scholarships or

“free money”.To a family with little to no money, that could mean as much as $40,900/year in free money.

Slide 9*collegeboard.org

Albany has a much lower sticker price, but they also meet much less need (62%)* than Syracuse and award far less aid

through Grants and Scholarships (42%).

To that same family with little to no money, they may receive only $5,700/year in free money from SUNY Albany

Slide 10*collegeboard.org

What does this all mean?

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Sticker price at Syracuse University =$59,000Potential Grants and Scholarships= $40,900

You’re potential out of pocket expense/year including loans= $18,080

Sticker price at SUNY Albany = $22,000Potential Grants and Scholarships= $5,700

You’re potential out of pocket expense/year including loans= $16,275

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The difference of potential out of pocket expense/year

including loans between Syracuse and SUNY Albany

= $1,805/year more at Syracuse

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