How should I compare financial aid offers from Tulane and Stanford?

Tulane can still be less expensive when it includes a large renewable merit scholarship, but that depends heavily on the scholarship’s exact renewal terms. Compare the money your family must actually provide rather than the schools’ “total aid” lines.

For each school, calculate total cost of attendance minus grants and scholarships that do not have to be repaid to determine your net price. List federal student loans, parent loans, and private loans below that number rather than subtracting them as aid. Treat work-study separately: it is an opportunity to earn wages through a campus job, not an upfront discount on the bill, and the hours may not be guaranteed.

At Tulane, confirm whether each merit award renews for four years, what GPA or enrollment requirements apply, whether it covers only tuition or other charges, and whether the amount stays fixed while tuition rises. At Stanford, confirm the family contribution, any expected student earnings or summer contribution, and whether the grant would change if your family’s income, assets, or number of children in college changes.

Project four years, including expected annual cost increases, health insurance if you will not waive it, travel between home and campus, books, personal expenses, and any costs that differ meaningfully between Palo Alto and New Orleans. Compare the total four-year amount your family will pay from income, savings, and borrowing, with loans shown separately from that cash cost.