Finding Alternatives to Need-Based Aid

Michael’s Story


Michael’s parents never worried about the cost of college for their only son. They had well-paying jobs and some savings, though less than they’d intended. Now Michael wanted to study biomedical engineering at BU, excited by the school’s standout program and study abroad opportunities. When researching college tuition costs, Michael’s father experienced “sticker shock.” But he realized Michael’s cost could be lower if some financial aid resources were tapped. So he helped Michael complete the financial aid application forms.

Michael’s Application Data


Class Rank Grades Curriculum SAT
top 10% 3.75Average GPA Very CompetitiveVery Competitive 1980Composite


Financial Aid Decision

With their high household income, the family didn’t qualify for need-based aid from BU. However, Michael’s parents were able to cover some of the cost with a credit-based loan and used the Payment Plan to budget payments monthly. Michael manages the rest with a student loan, some savings, and a part-time job, which makes BU affordable.