Financial Aid Scenarios

Wheaton students represent a wide range of social and economic backgrounds. Each student's financial aid will be based on the family's need and a combination of grants/scholarships (if eligible) and loans.

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These are some examples of possible financial aid given to students.

 

 

 

 

 

 

Home State

Student 1

     MN

Student 2

      PA

Student 3

     CA

Student 4

      IL

Student 5

       IL

Parents' Finances

         

Adjusted Gross Income

 $98,000  $86,000  $170,000  $41,000  $140,000

Savings and Investments

 $37,500  $141,000  $50,000  $500  $15,000

Home Equity

 $220,000  $180,000  $80,000  $8,000  $150,000

Family Size

 5  4  3  5  4

Number of children in college

 2  1  1  1  2

Student ACT/SAT score

 1100  30  1400  1200  32

Student Unweighted High School GPA (4.0 scale)

 3.2  3.6  3.7  3.4  4.0
           

Total Direct Cost

 $43,540  $43,540  $43,540  $43,540  $43,540
           

Financial Aid Award

         

Merit-based Academic Scholarship

 $0  $2500  $5,000  $0  $5,000

Federal Need-based Grant

 $0  $0  $0  $6,775  $0

State Need-based Grant

 $0  $0  $0  $4,720  $0

Wheaton Institutional Grant

 $23,224  $14,930  $4,000  $18,664  $16,220

Total grant/gift aid

 $23,224  $17,430  $9,000  $30,159  $21,220

 

         

Direct cost after gift aid

 $20,316  $26,110  $34,540  $13,381  $22,320

Student Loan eligibility

 $7,500  $5,500  $5,500  $7,500  $5,500
           

Balance Due

 $12,816  $20,610  $29,040  $5,881  $16,820
           

Payments

         

Outside Scholarship

       -  $1,500        -  $500        -

Parent PLUS Loan

       -  $5,000  $10,000       -        -

Payment from savings

       -  $5,000        -  - -

Monthly Payments:
10-month Wheaton Installment Plan (WIP)


 $1,282

 $911

 $1,904

 $538

 $1,682

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