The majority of financial aid awarded to Caltech undergraduates comes from grants. Grants are considered "gift aid", meaning that they do not have to be repaid or earned. Because of this, grants are the most beneficial form of financial aid.
All scholarships and grants at Caltech are need-based, as the Institute does not have a merit aid program. Undergraduate students who fill out a financial aid application will be automatically considered for scholarships and grants from Caltech and the federal government. Grants are also available from state governments, but the application process varies by state.
Caltech Scholarships are gifts awarded from institutional or endowed funds to help cover the cost of attending Caltech. Unlike loan and work-study funds, there is no standard amount of scholarships you should expect in your package. The award amount depends entirely on your demonstrated financial need. Scholarships can be renewed each year, though the exact amount may change according to your level of need in future years.
Named Scholarships
Some of Caltech's financial aid funds come from gifts that Caltech has received. These funds are awarded as scholarships that are named for their donor. Named scholarships are also need-based, but some have a merit component. If you have sufficient need and meet the specifications for one or more named scholarships, you will be automatically considered for those scholarships.
Any named scholarships you receive will be used to replace a portion of your Caltech Scholarships. If you receive a named scholarship, you may be asked to write a thank-you letter to one or more donors. Many donors are lifelong friends of the Institute, and they appreciate hearing about student life at Caltech today.