I am a sophomore in a regional university. I was accepted as a transfer student to a university that I’d like to attend for my junior, senior year and possibly grad school. I’m working on the financial requirements and could use some advice. Upon completing the application, I indicated my brother would be attending college in the fall. Now I am not sure this will happen and if he does, it will probably be part time. My financial aide package from the desired college notes that this choice has a significant impact on the package I was presented. I spoke to the Financial Aide office to find out how much of a change this would impose and they didn’t know without reworking the offer through the process. Because I really want to attend this school and I’m still working on how to cover the last $10K needed, I’m very concerned that the change in sibling attending or not will increase my costs (by reducing my grant or FAFSA loans) beyond my reach. I was thinking of sending an appeal letter explaining the situation and asking for my current package to remain intact. I’m wondering what else to include in this letter. Shall I write about my recent history so they know why I am wanting to transfer? The reasons it would be a good fit for me and the University? What I am going to do to pay for the current required charges? Why I or my parents can’t afford any more??
Is this school you want to transfer to a private school? Did they offer you need based institutional grants?
You could try and run the net price calculator on the college website and see how the numbers change with one or two in college.
As far as federal aid, did you qualify for a Pell grant? What is your EFC with 2 in college?
The loans you can take out should not be affected by your brother being in college or not.
But you can only borrow $7500 as a junior and senior, how much does the school cost?
https://fafsa.ed.gov/fotw1617/help/fahelp57.htm
Will your brother attend college at least part time?
What was your FAFSA EFC? The Pell Grant is determined by this only. You might want to run the net price calculator on the college website with two in college first. See how close that is to your actual award. Then run it with only one in college and see the difference.
Direct Loans will not be affected. You will still be able to take a $7500 Direct Loan regardless of whether your brother is in college…or not.