How should I compare the financial aid value of Stanford and Notre Dame?

Compare the offers by your family’s actual four-year net cost, not by tuition or the headline award total. Stanford’s undergraduate aid is primarily need-based and Stanford does not award merit scholarships; Notre Dame provides need-based aid and also has some merit scholarship programs. A Notre Dame offer with a named scholarship may therefore be structured differently from Stanford’s grant-focused package.

Start with each school’s cost of attendance, then subtract only grants and scholarships that do not need to be repaid. Separate any federal loans, parent loans, and work-study from gift aid: work-study is an opportunity to earn wages during the year, not an upfront reduction in the bill, and loans create costs after graduation. Compare the remaining amount your family must cover through savings, current income, or borrowing.

Check whether each grant or scholarship is renewable for all four years, what academic or enrollment conditions apply, and how each college treats annual cost increases. Also compare expenses that are easy to overlook: health insurance, travel home, books, personal expenses, campus housing and meal-plan requirements, and the cost of staying enrolled over summer if that matters to your plans.

Finally, read the award letters alongside the colleges’ financial-aid portals to identify assumptions about parent income, assets, number of siblings in college, and outside scholarships. If either offer relies on outdated income information or misses a major change such as job loss, medical expenses, or a one-time income spike, submit a documented appeal before deciding. The meaningful comparison is the lowest realistic amount your family will need to pay or borrow each year, multiplied across your expected time to degree.