Caltech financial aid has long held to a simple policy ;"If you are an admitted student whosefamily has insufficient financial resources to pay for all or part of your educational expenses,Caltech will provide you a financial aid award that will meet Caltech's calculation of your financial need and so make it possible for you to attend."This has created a tradition of caltech providing unparalleled opportunities to excellent students,regardless of their families' economic circumstances.
Applying for first -time financial aid is a simple process that mirrors that of other universities,Every applicant must fill out the Free Application for Federal Student Aid(FASFA) and the College Scholarship Service(CSS) Financial Aid PROFILE Application.These documents enable the Financial Aid Office to determine the amount that the student and his or her family can reasonably be expected to contribute toward a Caltech education.Any difference between that amount and the cost of attending Caltech is considired the student's financial need ,and the Financial Aid Office will prepare a student aid package consisting of a combination of scholarships,grants,loans,and work study that will fully meet that need .The sum of a student's contribution along with the financial aid award covers the entire cost of attending Caltech;tuition,room and board,student fees,health insurance,money for books,extra meals,and personal expenses,even travel money if you live far away.There are't any hidden costs.
Caltech tuition is already well below the cost for its peers,but the Financial Aid Office makes the additional effort to make it affordable for everyone. Most students are very satisfied with their financial aid package.
Caltech strives to be fair and generous with its financial aid .A student's financial standing never factors into the admissions decision.The admissions process is completely "need blond" for domestic students and applications are evaluated separately from financial aid applications.Caltech also never uses financial aid as a bartering tool to attract students.All awards are based on need alone ,and no award will ever be increased to match an offer from another school.If a student receives an outside scholarship,it will go toward reducing a student's loan or work study ,rather than reducing scholarship or grant awards.If a students's financial circumstances change,Caltech is very willing to reevaluate the family's current,revised financial status.