<p>This is a financial aid question, not a “what are my chances” one; just looking for some advice on what possible steps to take that can be used to my advantage. Here is some background:
I was born to a teenage mother and although she worked all the time, I managed to get accepted into a competitive G/T elementary school and now graduating with an IB diploma. She married my dad (step-dad but I consider him my dad), when I started school and he was still attending undergraduate school. We lived off his school loans and lived in government-subsidized apartments. We received food-stamps, medicaid, etc.; I now know all my Christmas presents were given from Toys for Tots.
My mom chose to stay at home while he attended school to raise her kids (she had two more with my dad after they got married) and devote her life to have us surpass our financial barriers and excel academically…which we all have thus far. I worked hard and distinguished myself even in the competitive environment I was put into.
My “problem” is that my dad will finally, from what seemed like forever, be graduating from pharmacy school. Once he graduates he has PLENTY of school loans to pay for, not to mention my college education now. Obviously, a college-savings wasn’t achievable growing up.
My family will be going from a food-stamp qualifiable income to about six figures. My question is: will Harvard (my dream since I was 4) look at my application impressed that I surmounted any obstacles I was raised in and excelled, or will they just see a student that has a dad making $100,000 and was raised with at least some privileges? Apparently, if I had a family that made that money MOST of my life I would have had more opportunities, but that wasn’t the case.
I am just Bummed that if my dad waited just a few more years to graduate, I could have possibly had a “free ride” to any college of my choice :/. Doesn’t that just suck???
Any advice to what I should expect, or/and what I should do about the situation if anything?</p>
<p>Your financial aid will be based on whatever the income is in the base year for which FA is being calculated. So for 2011-2012 the 2010 income will be used, 2012-2013 the 2011 income will be used. There is nothing you can do to change that.</p>
<p>The ivies give generous aid to students with fairly high incomes. So you still may get good aid. They do not give merit aid. Your achievements may get you into Harvard. Your current financial situation will be what they care about for financial aid.</p>
<p>The best thing is to apply and if you are accepted see what FA you are eligible for. Of course the aid will change every year based on your Dad’s income. But also apply to some other schools. No one is a shoo in for Harvard or any of the competitive schools. If your stats are good enough to be considering Harvard, you may be eligible for some good merit aid at schools that do award merit scholarships.</p>
<p>thanks for the reply. I just beat my brain on the fact that if my dad just waited a few more years to make the bucks…</p>
<p>Your dad has also achieved a lot with a little and deserves a round of applause here. It’s wonderful that he has fulfilled his dreams. My bet is he is a terrific role model on how to really conserve finances and make the most of what you have.</p>
<p>As Swimcatsmom wrote, apply to Harvard, you might still garner some need based aid there with an income in the $100K range and a family of 5. But at the same time, look at other options too. You sound like a great student with much to offer many different schools. My guess is you, like your dad, will make this all work.</p>
<p>You also need to know that even if your family still had a 0 EFC, it would not mean that you would have been guaranteed a “free ride” anywhere. Most students with 0 EFCs end up working their way through the local community college and then through a public university.</p>
<p>Since money is definitely an issue for your family, take a long hard look at <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html</a> and see if anything might work for you.</p>
<p>…I would also consider explaining your unique circumstances as part of a “Special Circumstances” aid appeal process if/when accepted…</p>
<p>With a family income of $100K and a family of 5, Harvard would likely cost you less than your in-state public. Maybe Princeton, and possibly Yale too. Not necessarily others, but $100K and family of 5 is not beyond need-based aid range.</p>
<p>^^^</p>
<p>Very true.</p>
<p>And, if this student thinks that her family would be better off staying low income for a few more years, she’s very mistaken. </p>
<p>If her family is used to living on a low income, then they probably can come up with whatever their “family contribution” will be. </p>
<p>This student should not be assuming that she would get into a top school like Harvard that would give her a free ride if she remained low income. Those schools reject many, many top, top students. </p>
<p>And, as a precaution, she should apply to some schools that will give her big merit for her stats as safety schools.</p>
<p>OP…are you a junior or senior in high school.?</p>
<p>If you’re a senior…beware…your financial aid package for your freshman year in college will be based on your family’s 2010 earnings. So, you could get a great aid package. However, if your dad works as a pharmacist for most of 2011, then for your sophomore year, your aid is going to get reduced. That can be shocking for some who aren’t prepared for the jump in contribution.</p>
<p>When does your dad graduate and start his new job?</p>
<p>I hope you are happy for your father. I am sure he has sacrificed both giving you a roof, etc., and going to school at the same time. It’s likely you won’t have all those big loans he will, due to all he has done.</p>
<p>I’m a sophmore and have the option of graduating early but decided not to. So I’ll be in the class of 2013. My dad will graduate in 2011. That’s 2 yrs. before I graduate, but I know he must have accumulated SO MUCH money in school loans. I mean, from undergraduate through 4 yrs. of pharmacy school…he has never told me how much, but I’m thinking it’ll be awhile till he gets it paid off.</p>
<p>BTW, I am VERY happy for him. He has worked so hard for us while my mom stayed home and educated us (supplemented my regular work).
I also give kuddos to my mom too. I know she went through personal anguish knowing some parents didn’t think highly of her being a stay at home mom while receiving welfare (I overheard my parents talking a few times)…and while my dad attended school too (to put into perspective, I went to a school where less than 2% had reduced lunch). It saddens me to think about it…BUT hopefully my acceptance letter to the school of my dreams (or any top university I apply to) will show her that all that hard work growing up was worth it!</p>
<p>And look at the bright side, your parents know how to live lean so should be able to afford your EFC which so many can’t.</p>
<p>true…so true, i agree</p>
<p>* So I’ll be in the class of 2013. My dad will graduate in 2011. That’s 2 yrs. before I graduate, but I know he must have accumulated SO MUCH money in school loans. I mean, from undergraduate through 4 yrs. of pharmacy school*</p>
<p>You might want to talk to your parents about how paying back your dad’s student loans might affect their ability to help you with college costs. </p>
<p>They may think that you can just borrow as well, but as a dependent student, you will not be able to borrow as much as your dad was able to. Plus, he was able to borrow even larger amounts for pharm school.</p>
<p>Anyway…if your parents indicate that they will not be able to contribute much for your college costs, it’s good to know that NOW. And, they may have good news and be able to at least indicate that they will be able to help you somewhat. And, at some point, your mom may be able to return to work to help bring in more money.</p>
<p>In the meantime…</p>
<p>1) Get the best grades you can.</p>
<p>2) Get some PSAT, SAT, and ACT practice books and practice, practice, practice.</p>
<p>3) Sign up for the June 2011 SAT test…that can be a “practice” for your junior year PSAT test.</p>
<p>4) Make sure that your school signs you up for the PSAT test for next Fall (junior year).</p>
<p>5) It’s good that you’re not graduating early…this will allow you more time to get the best SAT and ACT test scores…and, it gives your parents a little time to adjust to their new situation. </p>
<p>6) Pay attention to which schools will give you big merit scholarships for your stats. Those schools can be your financial safety schools - in case your “top choices” are not affordable or you don’t get accepted to them. </p>
<p>Again…believe me…your family would NOT be better off if it had to live more years on a low income. Once your dad becomes fully employed as a pharmacist, your family will have a much better standard of living.</p>
<p>*your parents know how to live lean so should be able to afford your EFC which so many can’t. *</p>
<p>True…but if the dad’s student loan payments are so large, they still may not be able to afford their EFC. And, with a good income, there will be some changes for this family if they have been receiving gov’t assistance for food, housing, and what have you.</p>
<p>I’d like to echo what mom2collegekids said, your family’s financial situation is still very precarious. You need to try to keep your own college costs down, which means casting a wide net.</p>
<p>I don’t think anything has changed for you going to a school like Harvard. If you can get in they review each financial aid applicant individually and they will see that unlike other applicants whose family’s have a good income yours is recent and before that you were in desperate circumstances.</p>
<p>For schools like Harvard you will need to submit the CSS Profile which will ask for financial information about you birth father. Just a heads up.</p>
<p>financial aid depends not only on income, but the entire financial picture. you will be fine at H. go forth and get that admission first. the rest will work out fine. your application should bring out the facts you stated in your first post, which will be helpful to the ad com.</p>