Is Cornell University affordable to the average applicant? A common misconception about Ivy League schools such as Cornell is that they are only affordable to the wealthiest, but this isn’t necessarily true. While Cornell doesn’t offer any merit-based or athletic scholarships, a policy in line with the rest of the Ivy League, it does possess one of the most robust and fair financial aid programs in higher education. However, Cornell’s financial aid does not come without certain limits on its generosity. Let’s review:

Financial Aid at Cornell: A Comprehensive Breakdown

	Full Cost of Tuition (On-Campus, Endowed Colleges)	Percent of Student Body on Financial Aid	Income Threshold for Free Tuition	Average Family Responsibility	No Loan Policy?
Cornell University	$92,150	50%	<$75,000	$24,262	No

According to Cornell Financial Aid, “Cornell meets 100 percent of demonstrated financial need for all eligible undergraduates with annual aid offers that include Cornell grants and endowed scholarships, Pell grants and NY State grants (when eligible), work-study, and zero or low student loans, depending on total family income.” This means that Cornell only makes families pay as much as they can afford to pay out of pocket, according to Cornell’s own calculations. 

Prospective applicants should note that Cornell’s tuition costs vary according to the undergraduate program. For example, New York state residents can attend one of the New York State contract colleges, including the College of Agriculture and Life Sciences and the College of Human Ecology, for a total projected cost of $69,826. On the other hand, applicants to the College of Arts and Sciences can expect to pay nearly 50% more — $92,150, whether they’re New York State residents or not.

Around 50% of the Cornell student body is on financial aid. No surprise there — wealthy students are vastly overrepresented on Ivy League campuses. In contrast, middle-class students are often passed over for admission in favor of their lower-income counterparts, who contribute more socioeconomic diversity to each incoming class. Cornell incentivizes these low-income students with the promise of free tuition to all who come from families that make less than $75,000 a year. In other words, students from low-income backgrounds typically don’t pay a thing to attend Cornell. Moreover, the average Cornell financial aid package is $24,262, meaning the average Cornell student paid around $67,888 to attend this prestigious school in the 2023-2024 academic year.

Does Cornell Have a No-Loan Policy?

Most Ivy League schools don’t require students to take out loans to attend. The family contribution and the financial aid grant are the only two pieces of the cost of attendance puzzle. Cornell and Dartmouth are the two exceptions to this policy. As Cornell reports, “For the 2024–25 academic year, most families with total annual income above $75,000 and typical assets will receive aid offers that include grant aid, work-study, and reasonable student loan offers, depending on total family income.”

This loan-inclusive policy is perhaps the one catch to Cornell’s generosity. Graduating with student loans, even reasonable ones with low interest rates, is not ideal, even when it comes with the perk of an Ivy League education. Does this mean middle-class families should steer clear of Cornell altogether? That’s a question that can only be answered by the applicant, their family, and Cornell’s financial aid calculator. Idle speculation about a school’s affordability will only get you so far. Plugging your family’s finances into this calculator gives you the chance to get an accurate estimate of the cost of attendance that can be easily compared to other schools by using their own financial aid calculators.

Ivy Coach’s Assistance with Assessing Cornell’s Affordability

Take the guesswork out of your college selection process by turning to a member of Ivy Coach’s team of former elite college admissions officers. We will work with you and your child to develop a competitive strategy to optimize their odds of admission to Cornell and assess whether the Big Red is within financial reach. So, fill out our complimentary consultation form to get started.