You may wish to investigate a combination of federal and alternative loans, along with the Tuition Management Systems monthly payment plan.
Institutional grants and scholarships won’t be reduced due to the receipt of outside scholarships unless one of the following occurs:
- If a student received federal grants or loans, these funds, in combination with any other grants/scholarships, cannot exceed your financial need.
- All outside scholarships, in combination with all aid received, cannot exceed your cost of attendance.
Outside scholarships are not from federal, state or institutional (Carnegie Mellon) sources. Examples of outside scholarships are: Coca Cola, Gates Millennium, Rotary, etc.
Financial need is the difference between the amount you and your family can reasonably afford to pay for college expenses, as calculated by the FAFSA along with other supporting documents, and the total cost of attendance.
Cost of Attendance MINUS Expected Family Contribution = Your Financial Need
Eligibility for federal and state aid is determined using the Federal Methodology, a formula established by Congress. Only the FAFSA is required to be considered for federal and state aid.
Eligibility for institutional aid is determined using an Institutional Methodology and both the FAFSA and CSS PROFILE are required to be considered for institutional aid.
We use the information that you and your parent(s) provide on the FAFSA, the CSS PROFILE and 1040 and W-2 tax forms to determine the amount you and your parent(s) should contribute to your education at Carnegie Mellon. This amount includes a direct contribution from income, drawing down on assets and borrowing. This value is called the Expected Family Contribution (EFC).
Carnegie Mellon’s FAFSA code is 003242.
Carnegie Mellon’s CSS PROFILE code is 2074.
Carnegie Mellon has a preferred submission deadline of February 15th for the FAFSA, CSS PROFILE and tax documents. If your application materials arrive after this deadline it may delay your receipt of a finalized financial aid award.
Once we determine your financial need, we combine different types of financial support into a package. Typical financial aid packages include federal, state and institutional grants, loans and work-study. Carnegie Mellon does not guarantee to meet a student’s full financial need.
We do not award any scholarships based solely on merit. Carnegie Mellon offers Carnegie Scholarships to academically- and artistically-talented middle-income students who qualify for little to no need-based financial aid. You must apply for need-based financial aid to be considered.
Carnegie Mellon provides a Financial Aid Estimator for high school juniors or seniors and their families, in order to provide an estimate of a student’s financial aid package prior to even applying to Carnegie Mellon.