How should I compare merit scholarship offers from Boston University and Emory?

The offer with the lower guaranteed four-year net cost should carry the most weight, even if its headline scholarship is smaller. Put Boston University and Emory’s award letters side by side and calculate what your family will actually pay each year after merit aid, grants, and any required loans. Do not treat work-study as money that reduces the bill upfront.

First, identify exactly what each scholarship covers. A fixed-dollar BU award reduces costs by the same dollar amount each year, so its relative value can shrink if tuition and fees rise. An Emory Scholar award may be partial or may cover tuition more extensively depending on the named program; use the precise coverage language in your letter rather than the program title alone. Also check whether either award applies to mandatory fees, housing, meals, health insurance, or only tuition.

Next, compare renewal conditions. Confirm the required enrollment status, academic standard, maximum number of semesters, and whether the scholarship is renewed automatically or reviewed annually. At both schools, a scholarship described as renewable is not necessarily immune from changes caused by taking a leave, transferring schools within the university, studying abroad, or extending beyond eight semesters.

Then calculate a conservative four-year total: annual billed costs minus guaranteed gift aid, plus realistic estimates for books, travel, personal expenses, and health insurance if applicable. Separate need-based grants from merit awards, since need-based aid can change when FAFSA or CSS Profile information changes, while a stated merit award is typically more predictable.

Ask each financial-aid office to clarify in writing whether the merit amount is guaranteed for four years, whether it rises with tuition, and whether outside scholarships reduce institutional grants. That written confirmation matters more than a verbal estimate when the difference between BU and Emory is substantial.