Financial Aid Planning Guide for High School Students
Plan ahead: how juniors can prepare to pay for college
Whether you're just starting to explore colleges or already building your list, understanding how to pay for college can make the journey feel less overwhelming. Where to start? Our net price calculator can give you a preview, right now, of what your costs and aid package could be to attend Cornell.
FAQs for juniors & families
What are other students and their parents asking us about financial aid for college? Several things. Here are some common questions and answers. If your question isn’t answered, we’d love to hear from you and try to help.
Financial aid can cover a variety of educational expenses, including tuition, fees, housing, food, books and other supplies.
During your junior year you should begin researching scholarships. During the summer before your senior year is the prime time to begin finding and applying for scholarships as well as drafting personal statements and gathering letters of recommendation. The peak scholarship season is from October through March of your senior year.
Merit aid is awarded based on academic performance, leadership or other achievements and need-based aid is awarded based on a student’s financial circumstances reported on the Free Application for Federal Student Aid (FAFSA).
Your savings may have a minimal impact on your financial aid eligibility. Savings are not the primary factor in determining financial aid eligibility. The most significant factor is the household income level. The FAFSA typically assumes 5-6% of savings are available for college costs.
Middle-income families often qualify for need-based financial aid in addition to merit based aid. Families are encouraged to explore outside scholarships, tax credits, savings plans and smart borrowing to make Cornell affordable.
Types of aid you might qualify for...no confusing jargon
Scholarships
Money awarded based on academic achievement, talents, or other criteria that does not need to be repaid.
Work-study
A federal program that allows students to earn money through part-time campus jobs to help pay for college expenses.
Loans
Borrowed money that must be repaid with interest after graduation or leaving school.
Merit Aid
Scholarships from Cornell are awarded based on academic performance, leadership, or other achievements, regardless of financial need.
Every Cornell College student is awarded a merit aid scholarship when they apply and are admitted to Cornell. No extra paperwork, interviews, or process required.
Now that you're informed, what can you do to prepare for college?
Taking action now means less stress next year as it gets closer to college decision time. Keep asking questions and finding resources for peace of mind.
- Research colleges with strong, transparent aid programs…like Cornell.
- Talk to your school counselor about aid options in your community.
- Start building a scholarship list—local and national scholarships you might apply for.
- Learn about how the FAFSA works and when to apply next year.
- Attend financial aid webinars or info sessions.
- Visit Cornell and bring your questions to our financial aid team.
What Cornell families have told us
- “We didn’t think we could afford Cornell—until we saw the aid package.”
- “The financial aid team walked us through everything.”
- “The financial aid team explained everything thoroughly and made the process easy.”
- “I can’t thank the financial aid team enough for being so generous with their time and going through everything with me in so much detail.”
Connect with us
Can we help answer a question? Call us during office hours, 8 a.m.-4:30 p.m. Central time, Monday-Friday at 319.895.4216 or email financialassistance@cornellcollege.edu any time and we’ll get back to you.