Can Anyone Describe Their Financial Aid Process?

Allyscribit · 05-11-2007, 03:19 PM

Hello. I'm Allyson, a junior interested in attending Bryn Mawr. I had thought that I would not be able to do early decision due to my financial situation. However, at my interview, my interviewer said that you can still apply early decision because if they can't find a deal that can work for you, they will let you out of the early decision contract. Has anyone else been told this? If so, what was your experience? Even if this was not your situation, was financial aid doable?

b@r!um · 05-11-2007, 04:03 PM

I am an international student so my situation may not directly apply to you, but I have made the experience that the director of financial aid is very patient and will review your fin aid application with you and/or your parents if you are not satisfied with the initial offer. And most colleges (not only BMC) will let you get out of an ED contract for financial reasons.

Allyscribit · 05-11-2007, 04:15 PM

Thank you for your advice

newchick · 05-16-2007, 08:38 PM

Bryn Mawr is very good about meeting your financial need...however, if your EFC is $40,000 + and you don't have significant medical expenses or something similar, then don't expect much aid. Unfortunately, they do not have any merit based awards. However, the financial aid office is very helpful and patient, and you can always appeal your offer of financial aid.

muggleroo282 · 05-17-2007, 01:59 PM

Don't let the cost keep you from applying. If you asked me last year where I was going, I would have told you that I would end up at my state university because of money problems, but I'm going to get out of Bryn Mawr without any debt and with money for graduate school. You will recieve financial aid if you need it. I do know that if you are upper middle class, it will be much harder for you to get aid.

Allyscribit · 06-02-2007, 06:42 AM

Thank you both for your help. Mother makes about $40,000 a year, and FAFSFA says our EFC is around $3000. However, my dad (who doesn't have custody) pays $26,000 a year in child support, so we're worried about that hurting us.

AprilStewart · 06-02-2007, 08:52 PM

Hey,
I'm actually going to Bryn Mawr next year (Class of 2011) and there financial aid package is reaally really ggoodd! I was flipping out b/c my mom makes about 85,000 a year ( & my dad 45,000) & our EFC was 22,810. And since my mom makes substantially more than my dad, we were worried that my mom would have to carry alot of the cost. However, Bryn Mawr sent us a verry good financial aid package.My parents have to pay approx 17,000 +2,625 loan& work-study. We were elated esp. b/c other schools like Wesleyan only offered 20,000 in grants when there tuition was 50,000!

Allyscribit · 06-03-2007, 01:58 PM

That's very comforting to hear (both for myself and my mother). I really appreciate your feedback, as well as everyone else's.

tommybill · 06-06-2007, 02:24 PM

While my D did not end up at Bryn Mawr their aid offer was very good…..if that is where your D wants to go let her apply early….I loved the place and whould have gone there myself if I had been 40 years younger and not a boy…..

Erin's Mom · 06-06-2007, 08:37 PM

My D is an entering Freshman at BMC, and I'm glad to share our experience:

First off, we're at a disadvantage going into the whole college thing since I'm divorced from my D's "natural" father, and both of us are remarried. Unfortunately, they take both family profiles into consideration when they give out finaid money.

Originally, D was offered a financial aid package that just wasn't doable without a lot of parental loans, which I refuse to take. My ex's wife renegotiated her aid package (which I'm grateful for) since she herself is in grad school and, since ex+wife have their own EFC which they have to meet, BMC was able to up D's finaid by enough so that it became doable for us w/o loans and perhaps with the only loose end being a non-Stafford/Perkins loan in D's name, guaranteed by her biological father, that he can throw money at when it's available.

Basically, my experience, as a parent, with BMC's financial aid was positive, but only when a request review was filed. I'm sure in this day and age there are many "doubled" families and it is a slippery slope at best. But from where I sit, I'd much rather pay the balance of tuition out of my current earnings than tap into asset/equity stuff which just doesn't work for our family.

Although I don't take the credit for making it happen, I'm pleased as Punch that things turned out the way they did, because if there's only one thing my Ex and I agree on, it's that Bryn Mawr is a wonderful opportunity that should not be missed. And even if half the people in my grocery store can't pronounce the name on my sweatshirt correctly, at least I know my beloved kiddo is going to be at a top rate school that fits her perfectly. As the stupid commercials would say.......Priceless.

Zykuri · 06-09-2007, 03:06 PM

I'm an entering freshman for 2011 (woo!), and Bryn Mawr offered me a really great aid package. My dad makes ~$60K/year and pays over $10K/year in child support to my mom, who is unemployed and whom I have almost no contact with. They must have taken the situation into consideration, because they offered me about $37K in grants, $2,000 for work-study, and we'll have to take out approximately $6,000 in loans (Sub. Stafford, Perkins, PLUS)... but that's definitely better than I would have gotten from any college here in Cali.

The only reason I didn't apply ED was because I needed to compare aid packages, but BMC ended up being my most affordable choice in the end anyway. If you're really worried about the money, it probably wouldn't hurt you too much to just apply regular decision. If you really love BMC, they'll see that.

kmaqMom · 06-09-2007, 03:40 PM

April Stewart~
Can you help me with a question I have whenever I read about EFC vs amount actually paid. You stated that your parents will have to pay approx. $17,000 (+ loans/work study). Is that $17,000 TOTAL (tuition + room & board) or is that $17,000 tuition ( instead of the regular $33,000) PLUS $11,000 (room and board)? Thanks for your help.

b@r!um · 06-09-2007, 04:32 PM

The EFC is the total expected contribution to tuition + room & board + estimated living expenses.

I got a really generous fin aid package too. My family income is around $70K for a 7 people household and my EFC is about $6,600. The rest of the cost of attendance (~$50K) was met with grants, work study and a $3,000 loan. I LOVE BMC

kmaqMom · 06-09-2007, 09:41 PM

I know what an EFC is, I'm just not clear on whether the new numbers people give after figuring their FA is the TOTAL amount paid (i.e. tuition, room and board) or the just the TUITION paid (and therefore, they still owe the full room and board charge)? Using my previous numbers for April Stewart's case....is she paying $17,000 or $28,000?

Good for you, barium......and good for Bryn Mawr!

b@r!um · 06-10-2007, 02:55 AM

She is paying $17K.