I checked no when asked if I was applying for financial aid (under the misconception that we would not qualify), but have since found out that we would most likely qualify for some (efc is around 18k?), do I need to update schools to ask them to consider me for financial aid? Please note, we sent the FAFSA and CSS profile to all the schools.
Call the schools and ask that this be changed on your application.
Did you get in to any schools yet? And you make this decision, or your parents? an EFC is 18K means your family is not high earning.
If your EFC is only $18,000, how will you pay for these schools without financial aid?
I don’t know if any of these colleges are need aware for admissions… it if they are…admissions will be reviewing your application with the understanding that you are NOT seeking aid from the schools.
In my opinion, you need to contact ALL of these colleges and ask admissions to change that NO to a YES for financial aid. Then make sure you have submitted ALL of the documents needed for aid.
Northeastern, RIT (IIRC) and Harvard meet full need for all accepted students. You NEED aid to attend…right?
The others don’t meet full need for all.
Did your family run the net price calculators for ALL of these schools? Can you pay the net costs?
Are you instate for CT.
“thumper1” said “If your EFC is only $18,000, how will you pay for these schools without financial aid?” One cannot escape financial realities. The good news is, that even those universities that do not meet full need of admitted students do meet full need for a very high percentage. Contact them all.
Checked on the latest CDS’s I could find for WPI and RPI. Data taken from line I of section H2 of the CDS.
WPI, Fall 2018, 82% of accepted first year class were awarded 100% of demonstrated need;
RPI, Fall 2017, 84% of accepted first year students were awarded 100% of demonstrated need.
Northeastern’s program is five years as all students have Co-op. This is often an educational and financial advantage, but adds time. Both WPI and RPI also have voluntary Co-op programs you might want to ask about. About 600 of over 4,200 undergraduates participate in the WPI Co-op.
our EFC is really low for some reason (my parents make a decent amount). Luckily, my parents have budgeted and I have a good amount to work with that didn’t get accounted for, but financial aid would be a huge help in that my parents wouldn’t have to sacrifice as much and could pay off debt easier.
Your EFC would suggest a family annual income in the below $80,000 range…I think.
If your family has a higher income…you want to check to make sure all of your entries are correct.
Are your parents self employed? Do they own property in addition to your primary residence?
Is there only ONE kiddo in college?
Also, most of the colleges on your list require the CSS Profile. This looks far more in depth at finances than the FAFSA, and is what these schools will use to determine your institutional need based aid. With an EFC of $18,000 you are not eligible for any federally funded grant aid.
And what does THIS mean…
If your parents have any money put aside for your college costs…this would be required to be “accounted for” on the financial aid application forms.
We’ll check the information, but my parent’s income is a bit over 150k so I don’t know why its so low - my brother is also in college though, but I don’t think that’d make such a huge difference. Sorry for the weird wording, it’s not money we already have but rather sacrifices in the upcoming months. My dad has about 4k for college savings, which he put down.
The “unaccounted” comment is worrisome. If you are flagged for verification that could result in denial of financial aid and admission.
Thank you for the clarification. There will be TWO of you in college at the same time. That does make a difference in the FAFSA calculated EFC. If it’s $18,000 for you…it’s probably about $18,000 for your brother as well…so a total of $36,000
Still…how will your family pay the costs to attend these very expensive private universities, some of which don’t meet full need anyway. My kid is a Boston University grad. When he attended, the cost to attend was about $40,000 a year. He got a $10,000 merit award…and that was IT. We paid the balance of his costs to attend…so $30,000 or so a year.
BU costs $70,000 or so a year. The school does not meet full need.
What are your parents telling you they can pay annually?
Even UConn instate costs $30,000 a year. Can they pay most of that?
Yea, I worded that weirdly. On the CSS profile my dad put that he could pay about 40k.
I’m not instate for any of my schools, I’m from RI. My dad said he could mostly likely afford Northeastern at nearly full price, but bills won’t get paid off as quickly.
It doesn’t matter what your dad put in that field…and anyway…your schools don’t cost $40,000 (except UConn if you are instate). They cost over $60,000.
If you have a sibling in college…and your parents are helping with those costs…can they really pay $40,000 more per year? If so…suggest that they immediately put $4000 a month away in savings for the next four months…and see if they think this is sustainable for the full time you are in college.
When your sibling graduates, and there is only one in college, your family contribution will double or so…so don’t forget that part too.
You NEED financial aid to attend…right?
So…call your college admissions offices and ask that the NO box be changed to YES for financial aid.
Yes, I’m planning to call ASAP. My dad planned out his whole budget - he also teached as an adjunct professor so he’s putting most of his salary from that towards my college fund. He’s done a budget up to 2024 (IIRC) and I should be able to afford school. McGill, with fees when transferred over to USD, should be within our budget regardless -helpful as I can’t get aid there and am unlikely to get merit.
If your dad is a prof, why would he neglect to fill in fafsa, is it filled n for your sibling? Again, take note of the issue of verification, and answer questions on self employment as posed above. Are your parents from the USA?