By LaunchX Team
October 29, 2019
At LaunchX, we seek to empower young people to build the future, regardless of their financial status. We believe that everyone should have the opportunity to innovate and come together with a community of problem solvers to explore entrepreneurship, which is why we offer a variety of financial need opportunities to qualifying applicants.
Check out the financial need opportunity stats for summer 2019:
- 127 application fees waived
- ~20% of admitted students received financial need
- With an average of >$6,000 awarded towards program fees (that’s more than 3/4 of their program fees covered)!
It’s important to stress that the admissions process of LaunchX is blind – that means that if you indicate on your application that you require financial assistance, it will in no way impact your acceptance outcome. It will only make it easier for the LaunchX team to provide you the proper information upon admission. You are not asked to submit a full financial-need application until after you are accepted. Financial assistance packages are provided on a case-by-case basis and vary depending on the student’s family specifics.
Please note that starting in the 2020 summer program year, we offer financial-need assistance only to US-based admitted students.
How do applicants get the application fee waived?
Fee waivers are available for students who provide evidence of need. For many students in this category, providing evidence of being on a free or reduced lunch program at your school is sufficient. If your school does not have such a program, any submission that shows your family financial status in a similar manner will work.
This is provided within the LaunchX application. There is a section called “Application Fee Waiver” which is optional, where you can upload documentation. See the application to learn more.
How much scholarship can our family expect to receive?
We compiled the financial scholarship offers of our 2019 financial need applicants to provide average figures.
PLEASE NOTE: While the below provides some average amounts based on family incomes, this is for informational purposes only. This is not an indication or promise of the amount that your family may receive. Each package is determined individually, where actual amounts vary based on the specifics of a family financial situations, factoring many more criteria than just income- such as family size, core costs, geography, and much more.
|Income||Average Scholarship||Remaining Fee|
|0 – 25k||$7,332||$400|
|25 – 50k||$4,936||$2,764|
|50 – 75k||$1,000||$6,638|
|75k – 100k||$250||$7,495|
Note: while we understand that there may be some extenuating circumstances to the family situation, it is generally not advised to apply for the financial need application if your family income is in excess of $100k.
We hope that you keep this in mind when considering the LaunchX summer – we seek to continue to make the program more financially accessible to entrepreneurially minded high school students from across all backgrounds.
We look forward to receiving your application in 2020!