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sybbie719

sybbie719 Super Moderator

2,840 Points 5,721 Visits 20,836 Posts
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  • Re: Why do schools like Washington and Lee and Urichmond ask for actual copies of tax forms.

    It is not unusual for schools to request copies of the actual tax forms along with the the transcript from the IRS in order to verify that the self reported information that the family places on the FAFSA and the profile is correct. Actually, it is now standard practice at most schools that you will have to turn in a copy of your IRS transcript (even if you used the DRT) in order to actually receive aid.

    Why is this a surprise when the school clearly states this on their financial aid page.

    https://www.wlu.edu/financial-aid/apply-for-aid/how-to-apply


    If this is something that your father does not want to do, then you do not need to apply to this school or apply to this school with the intent of paying and not receiving any financial aid

    University of Richmond's financial aid deadline is November 15 for ED and EA (you are already late). To avoid a reduction in your financial aid award, in addition to giving the school what they are asking for, you should change your application to RD in order to avoid the 10% reduction in need-based aid.

    Reductions for Late Applications

    The University of Richmond's policy is to fully meet the demonstrated need of its students who submit all required financial aid forms by the stated deadline. Students who demonstrate need but fail to meet the deadline will lose a percentage of their need-based grant and need-based scholarship aid. Therefore, their need will not be fully met. We assess a 10% reduction in need-based grant/scholarship aid for applications received after the deadline, up to two months after the deadline. Applications received more than two months late will receive consideration only for limited federal need-based grants and Direct Loans, but not for any other need-based aid.

    https://financialaid.richmond.edu/prospective/need-based/apply.html
  • Re: EFC is more than what my parents can pay?

    @anniehhh wrote:
    I think it’s because all my cousins went to super expensive private colleges:
    Northeastern, Harvard, NYU, Amherst, Georgetown, etc. with middle incomes.

    Let's not mince words here. Your cousins were able to get need based financial aid. These schools (with the exception of NYU) call their need based financial aid, scholarships. Harvard Amherst and Georgetown only give (scholarships) in the form of need based financial aid. There is no merit money at these schools.
  • Re: EFC is more than what my parents can pay?

    @anniehhh, actually you are alluding to this in post # 90
    @anniehhh wrote:

    if I were to get in to one of my top schools, what is your outlook on student loans? Not the Fafsa ones but rather the ones you get from the bank and such. I know it depends on how much you take out, but it is still good to know about it.

    You will not be able to get this kind of loan unless your parents are co-signers. Then it also become part of their credit report and can affect their ability to borrow/cosign for your sibling already in college and your younger sibling
  • Re: EFC is more than what my parents can pay?

    I don't want you to think that we are ganging up on you. You seem to have some magical thinking going on and we are just trying to explain the realities of your situation to you. It seems that you also are not receptive to hearing the realities of your situation (if that is the case, don't say that you were not informed).

    Those three houses are assets. Any rent collected from these homes are considered income. If after all of this you still have a 35k EFC, I think that is great. Unless they are willing to sell or mortgage a house you need more financially feasible options.

    It is a waste of an application fee to apply to USC, because even though academically it is a reach, you will never receive enough money to make it financially feasible.

    You need to look at the common data set of the schools that you are applying to. your list is a little top heavy; you are below the 25th percentile for Bing and just barely making the 25th percentile for a lot of the others (still making them reaches just by the sheer number of applications). For NYU, your stats are just slightly above the threshold that they use for HEOP (since you are not economically disadvantaged, Stern will be a reach).
  • Re: EFC is more than what my parents can pay?

    @anniehhh wrote:

    My initial question was “Why is my EFC more than what my parents can afford?”

    Because financial aid is based on what the school and the federal government think that your parents can afford to pay based on their income/assets and not what your parents want to pay or think that they can afford to pay.