How should I compare Boston College and Yale financial aid offers?

Start by comparing each school’s four-year net price, not the headline aid total. Yale’s need-based aid policy is designed to meet a family’s demonstrated need without requiring student loans, so a Yale package may consist primarily of a Yale Scholarship plus a modest student work expectation. Boston College’s package may combine BC grants, federal or state grants, work-study, and potentially student loans, so equal-looking “aid” totals can leave very different amounts to finance.

For the student whose family has substantial demonstrated financial need, Yale’s offer deserves especially close attention. Separate grants and scholarships, which reduce the bill permanently, from loans, which must be repaid. Also distinguish work-study from a tuition credit: work-study is an opportunity to earn wages through a campus job and generally is not money applied automatically to the bill.

At Boston College, read the award line by line and calculate the actual amount due after grants and scholarships only. Then add any loan amount your family would need to accept, plus a realistic estimate of earnings from work-study. Check whether a listed federal Direct Loan is subsidized or unsubsidized, since unsubsidized loans begin accruing interest while the student is enrolled.

For both schools, use the same cost categories: tuition and fees, housing and food, health insurance if applicable, books, travel, personal expenses, and required deposits. Yale and BC may use different estimates for indirect costs, particularly travel and personal expenses, so compare your own realistic budget rather than assuming the published cost of attendance is identical to your out-of-pocket spending.

Finally, check whether each award is renewable for all four years, what must be reported if family finances change, and whether annual tuition increases are likely to be matched by grant increases. The key figure is the amount your family can pay each year without private loans, high-interest borrowing, or an unsustainable work schedule.