<p>My parents are divorced, and both are pretty financially stable- both household incomes probably come down to like 300K. Should I ask for FA? I’m applying to Northwestern ED, and my mom thinks I should ask (even though I probably won’t get any) just to make sure I can back out of acceptance, just in case something goes wrong financially. If it makes any difference, I don’t live with my dad, and the household I live in only makes about 150K, and has five children and two adults. Is it worth asking for FA? should I just apply without it? Also, will that help my chances of admission?</p>
<p>You should always ask for FA. Universities are need blind. They wont consider FA in the admission decision. (At least theyre not supposed to)</p>
<p>You can ask the admission officer right out if the college is need blind for early decision. NWU is needblind in MOST cases, or used to be, but things have been changing very fast. Schools can be need blind in certain categories, and not in others. Some examples are that some schools need blind for US students are not for internationals, are not for transfers, are not for wait list students, and for all I know ED could be a category too. So ask and find out what the current policy is.</p>
<p>Also, if you do apply ED, and if your family cannot pay for NWU, that does give you a valid reason to ask to be released from the ED acceptance. That is a reason that is specifically given as a valid reason. You should run the NPC for NWU and see what kind of aid you can expect. Since NWU uses PROFILE, your father’s income and assets, as well as any stepparents’ will be taken into consideration, so it is likely you will get little if any financial aid. If you get a zip fro NW it is an early warning that there is a very good chance that even the best schools for fin aid are not going to be giving you any, those using NCP info, and that you had better focus heavily on some financial safeties. You should be getting an idea as to what you parents are willing and able to pay, and making your lists according.</p>
<p>Net Price counted on little FA, but a lot of merit aid, and I don’t know how true that is? My parents can/are willing to pay for Northwestern, but if someone were to lose their job, or something else were to happen, I couldn’t afford it. I have a financial safety, Lenoir Rhyne already accepted me, with 15K in merit aid for sure, and am also applying for UNC Chapel Hill EA. If everything goes well, I can afford NU, I was just wondering if my chances would be better if I didn’t ask for FA.</p>
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That’s a perfectly good reason to turn down an ED package. Noone would fault you.</p>
<p>As CPT mentioned, check with NU to see if they are need blind for admission. If they are not, don’t apply. If they are, it doesn’t matter.</p>
<p>Northwestern does not give much in merit money. Like,very little. They do sponsor some National Merit Finalists, and there is the possiblitiy of getting some alumni awards, but really, the chances of getting much money from them with no need defined are very, very small. You may not even find out about some of the merit money until after the date you have to commit ED the way the timing of the merit awards go. </p>
<p>Unemployment can happen ANYTIME while you are in college, so really that it happens within the window of decision is one thing, if your parents are in a situation where it is a looming possibility, you should not go to a school that costs more than can be afforded when that happens. Though federal methodology does allow for professional judgement to get a lowered EFC fo displaced workers, the funds that become available for such situations for students like you is not much at all. Just maybe some loan interest deferral, and PROFILE schools like NWU are not going to give you a cost break, usually just some time to get make the payments. Most of the time there has to be a period of time of unemployment before any breaks are given. So, that is something you need to consider. Even at schools that say they meet full need, it’s not like the money comes gushing out if your parents lose their jobs or other such thing happens. These schools define what need is, and what are defined as temporary setbacks like unemployment are dealt with in a temporary fashion, and you still end up having to pay what is owed.</p>
<p>Hold it…</p>
<p>Northwestern meets full need, doesn’t it? of course the timing could be an issue if the parent gets laid off in the middle of a school year.</p>
<p>BUT if the student gets accepted, the student’s financial need will be reconsidered annually.</p>
<p>This student REALLY needs to find the answer to this…does Northwestern require it’s students to APPLY for institutional need based aid (note…not qualify for…or accept…just apply) as incoming freshmen in order to be able to apply in subsequent years? </p>
<p>If yes, the student needs to apply as an incoming freshman IF they even think they might want to do so later. </p>
<p>Some colleges DO have this requirement.</p>
<p>Well losing a job isnt really a valid point since FA is recalculated yearly as the FAFSA must be resubmitted yearly. If unemployment does occur, then FA will be given, and im pretty sure NWU claims to meet 100% need</p>
<p>Depends on the timing of the unemployment and the effect on the income and assets. You get fired in November or Deceember, it may not make much of difference in that year’s incpme or assets. You get severance money, and you could end up with MORE income a given year. A student should ask for professional judgement and schools do differen how they treat such situations. For an interim adjustment, all most families have gotten, that I have seen has been time, from schools with pretty good aid packages. They don’t come up with the money that quickly, believe me. Tell you to borrow from PLUS to bridge the gap.</p>
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<p>This is ABSOLUTELY untrue! Some universities are need blind, but the overwhelming majority are not.</p>
<p>“They’re not supposed to” consider need in making a decision? Says who??? This is a decision that’s up to the individual college . . . and they can do whatever they want!</p>
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<p>Again, there’s NO guarantee of this. It varies from college to college, and most do NOT meet full need.</p>
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Sorry dodgersmom, you have this backward. Some are need aware, the overwhelming majority are need blind. For instance virtually all Public Us. They will make an offer and gap you as necessary.</p>
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Thumper, have we ever come up with a list of those schools that will not consider a student for FA in subsequent years if they don’t apply as a freshman? I know I’ve seem references to it, but I can’t remember any school being named.</p>
<p>I don’t know about a list, but I know Barnard college will not guarantee fin aid in subsequent years if there is no application freshman year. From their FAQs: “No student who is admitted to Barnard without financial aid can be guaranteed College grants for future years.” That is actually a wider sweeping statement than what I’ve been told by parents who have had a student apply there, not qualify for aid, but qualify in future years due to changes in circumstances, such as a sibling starting college, or job loss. The experience I’ve seen is that the school will take those things into consideration. But it may not want to guarantee this, whereas Barnard used to, (don’t know if they still do) gurantee to meet need full for freshman accepted students.</p>
<p>Schools are changing their rules so one really does have to ask. Big, sweeping policy changes from major colleges may make the news, such as Wesleyan U announcing that they are no longer 100% need blind in admissions. But dropping a category of students from the 100% need met guarantee often goes under the radar.</p>
<p>At one time, schools that were need aware for admissionss, made it clear that they were, but were generous with aid for those they did accept, some meeting full need for such students, did not want people gaming their system by applying as a ful pay, and then applying for need in subsequent years, once they were accepted. So they made it clear that unless there was a change in cirumstances, there was either a sit out period to be considered for financial aid or you had to show some uncontrollable change in circumstance. Now days with money being as tight as it has become, the schools are reluctant to be guaranteeing anything, wanting as much flexibility as possible in distributing financial aid monies. I see a lot of corners being cut, a lot of trimming, and yes, some meat being taken out of these funds. So the best thing is to ask and get it in writing in an email as to the school’s policy when considering offers. If you are selecting between School A that will guarantee to meet full need for all four years, including when a second college student comes inot play, and School B that refuses to make any guarantee, that could be a deal breaker. That colleges have their own formulas means that you still can’t be sure if you’d be getting any set amounts, but at least you know that the momentum is there vs trying to cut a corner in that area.</p>