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Wake Forest Financial Aid Concerns? Accepted Under ED 2

panda522panda522 12 replies4 threads Junior Member
edited February 2019 in Wake Forest University
I got my acceptance letter to Wake today under the early decision II plan. I know they say that ED is not for students who are concerned about finances, but I wasn't sure that I'd make it into Wake under regular decision. I also really liked the school and felt that academically, it would be a good fit for me. So if my financial aid package falls through, how willing would Wake's Financial Aid department to work with me to make attending the school more affordable? They claim that 100% of need is met on their website, but I've read other people's posts and feel some concern. Sidenote: EFC is 20465 according to FAFSA.
edited February 2019
17 replies
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Replies to: Wake Forest Financial Aid Concerns? Accepted Under ED 2

  • mamommamom 3702 replies24 threads Senior Member
    Did you run the NPC?
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  • twogirlstwogirls 7534 replies7 threads Senior Member
    Have you used the net price calculator for Wake Forest? Schools that meet full need...will meet it according to their definition of need, and it will likely not be based on your Fafsa EFC.

    How much is your family able to pay?
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  • panda522panda522 12 replies4 threads Junior Member
    edited February 2019
    @mamom I did, the cost came down to somewhere between about 17k to 21k. 17k was with loans. Do you know how accurate Wake's NPC is?
    edited February 2019
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  • panda522panda522 12 replies4 threads Junior Member
    @twogirls Yeah, I did use the NPC (just not sure how reliable it is). My parents didn't tell me how much they're able to contribute, but I know they're concerned about paying for Wake too.
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  • twogirlstwogirls 7534 replies7 threads Senior Member
    edited February 2019
    I just looked at the NPC and it looks pretty detailed. My guess is that if you put in accurate financial information and your parents are not divorced, own their own business etc...it should be fairly accurate.
    edited February 2019
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  • panda522panda522 12 replies4 threads Junior Member
    okay, thank you @twogirls! my parents are not divorced, nor do they own their own business. I can't think of anything else about my family status that would cause complications with fin. aid. Hopefully we get the financial package soon, before the deposit is due.
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  • thumper1thumper1 76516 replies3384 threads Senior Member
    Don’t commit to Wake until your financial aid package is in your hands.

    If it turns out Wake is not affordable, you can decline the admission offer.
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  • panda522panda522 12 replies4 threads Junior Member
    @thumper1 I was thinking the same. It is a binding early decision agreement. but they can't force me to attend if I can't afford to, is that right?
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  • ucbalumnusucbalumnus 80187 replies720 threads Senior Member
    Your parents did not tell you before applying whether the NPC result would be affordable?
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  • austinmshauriaustinmshauri 9349 replies352 threads Senior Member
    If colleges worked with ED families to make attending "more affordable" how would that differ from the RD round? If your family had a change in finances then they might look at it, but I don't think they'll consider an appeal based on the fact that your parents don't want to pay their EFC.

    You need to find out how much your parents will pay. If they can't/won't pay then you can decline the offer. Colleges can't make you attend. They can, however, hold the decision to break an ED agreement against other (current and future) applicants from your school. How does your GC feel about breaking ED agreements? Some will refuse to send transcripts for students who do, so you and your parents may want to come to a quick decision about what is and isn't affordable and let your GC know if there may be an issue.
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  • vonlostvonlost 18981 replies15451 threads Super Moderator
    edited February 2019
    "they can't force me to attend if I can't afford to, is that right?"

    Correct, and your family makes that decision.
    edited February 2019
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  • vonlostvonlost 18981 replies15451 threads Super Moderator
    "They can, however, hold the decision to break an ED agreement against other (current and future) applicants from your school" and "Some will refuse to send transcripts for students who do"

    This despicable behavior should be publicized when an applicant must legitimately decline an ED FA offer.
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  • wakedeac2022wakedeac2022 48 replies0 threads Junior Member
    edited February 2019
    I'm a Wake parent (of a freshman) and we found the NPC to be very accurate last year..., within $2000 in our case. You mentioned that your FAFSA EFC is $20,400. One thing (of many) that FAFSA doesn't consider, that the CSS Profile used by Wake DOES consider, is how much equity your parents have in their home. Let's say they have $200,000 of equity in their home..... then Wake could estimate that you would owe a little more than the FAFSA EFC would consider. In other words, the CSS Profile used by Wake adds a deeper look at your family's wealth and financial stability, and factors in things that the FAFSA does not.
    edited February 2019
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  • lottingerlottinger 23 replies0 threads Junior Member
    Has anyone received their financial aid package yet? I hear they come out at the beginning of April.
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  • 1stTimeThruMom1stTimeThruMom 343 replies8 threads Member
    Any updates on how generous the FA offers were?
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  • cltrisingcltrising 43 replies4 threads Junior Member
    We are full pay, however received our letter this weekend and my D got a small grant/scholarship. Wasn't expecting it, but nice to get.
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  • lottingerlottinger 23 replies0 threads Junior Member
    I m surprised people are still receiving these. I guess I will continue to hold out hope.
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