How should I compare Duke and Emory costs after financial aid?

The biggest practical tradeoff is between Duke’s and Emory’s actual family bill, not the headline size of each aid package: grants and scholarships reduce what you owe, while loans and work-study do not. Put both offers into the same one-year comparison using each school’s official cost of attendance, then separate billed charges from expenses you can control. Duke’s higher listed cost may be offset by more grant aid, while an Emory package can look larger than it is if more of it is loan eligibility or work-study.

For each college, start with tuition, mandatory fees, housing, and meal plan. Subtract only institutional grants, outside scholarships that will actually apply, and any state or federal grants. That result is the amount your family must cover through savings, current income, payment plans, borrowing, or student earnings. Treat federal loans as debt, not aid; treat work-study as a chance to earn wages during the year, not money automatically credited to the bill.

Then compare indirect costs separately: books, travel home, personal expenses, health insurance if required, and the cost of a computer or other one-time items. Check whether either award assumes you will live on campus, whether the scholarship or grant is renewable for four years, the GPA or enrollment requirements for renewal, and whether grants are likely to rise if tuition rises. Ask each financial-aid office for a written explanation of any unusually high estimate or unresolved change in family finances.

A small first-year difference may not matter much; a recurring annual loan requirement or a grant that is not guaranteed can make one option substantially more expensive by graduation.