Rochester Renaissance Scholarships
Obtaining an education at a university or college continues to become a more expensive undertaking as tuition costs rise year after year. Between 1986 and 2010, total inflation exceeded 107 percent. However, during that same time, the average tuition rose by more than 450 percent. For the average family, private universities and colleges have become too expense, and many students rely on endowments that offer scholarships to potential students. The University of Rochester had a total endowment of $1.47 billion as of June 30, 2010. With a total annual tuition fee topping $50,000, applying for a scholarship is a good option for students that could otherwise not afford to attend this school.
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University of Rochester Overview
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The University of Rochester, located in the city of Rochester, New York, was founded in 1850. George Eastman, the founder of Eastman Kodak, established a large endowment at this university that has facilitated the school’s growth. This endowment provides scholarships to perspective students and has also built the Eastman Schools of Music, Medicine and Dentistry at the University of Rochester.
Renaissance Scholarship
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The Renaissance & Global Scholarship is a full-tuition, four-year scholarship to the University of Rochester. This scholarship is available to incoming freshmen who have shown academic excellence and achievement in other areas that can benefit the university. For example, the typical scholarship recipient, in addition to academic achievements, will have demonstrated active community involvement and participation in many school and extracurricular activities. Both students from the United States and international students can apply for this scholarship.
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Need-Based Aid
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Additional financial assistance offered by the University of Rochester includes need-based aid. This aid is based on financial need and allows qualified students to continue their education. The amount of the aid awarded will depend on the individual student’s needs. Need-based aid includes grants, work opportunities at the university, loans funded by the university at a fixed rate and federal Pell Grants. As a merit-based scholarship, the Renaissance scholarship does not qualify as need-based aid.
Merit-Based Scholarships
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Merit based scholarships are awarded to students that demonstrate talent and potential. The awards for this type of scholarship can range from $2,000 to full tuition at the university. Merit-based scholarships do not disqualify students because of financial circumstances. Every applicant to the university is automatically considered for a merit scholarship during the application process. Student also must continue to perform at the expected level to receive annual scholarship renewals. Student can receive only one merit-based scholarship.
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