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How Financial Aid Works

How We Determine Need
In order to determine your level of need, Caltech uses the following formula:

Cost of Attendance − Family Contribution = Demonstrated Financial Need

The Cost of Attendance is the total cost of attending Caltech for one year.  It includes both direct charges from Caltech, like tuition and fees, as well as other expenses, like books and supplies.

The Family Contribution represents the amount of money your family would be expected to pay for one year of school.  We calculate the exact amount of your family's contribution with our needs analysis formula.

Your Financial Aid Package
Caltech will meet 100% of your demonstrated financial need through a combination of awards known as a financial aid package.  A typical package will consist of grants and scholarships, student employment, and student loans.

Additional Resources
If you are receiving any additional financial resources, e.g. outside scholarships, please notify our office with the source and amount you expect to receive.  External financial resources may reduce or offset your demonstrated financial need.  If this is the case, we will need to adjust your financial aid award. 

Students working in a lab Credit: Lance Hayashida (top); Bob Paz (bottom)