@blossom When we got evaluated by a college prior, which is not Grinnell, they said we can expect up to 45-50K in aid depending on the school. This was a T20 btw. So we are appealing to explain the situation first-hand, and we have many liabilities. Family of seven, EB5 money was in loans, car loans, real estate loans, grandparents medical bills etc. We wanted to explain all this on a phone call / letter.
It was in the CSS but quite summarized so we are thinking explaining this first hand would be better
OP- go for it then.
Couple of suggestions:
1- medical bills for immediate family- yes, relevant. Extended family (which in the US means grandparents)- less likely to be considered relevant.
2- Family of 7- relevant, but likely already “baked in” to the offer.
3- I’m not sure what you mean that the EB5 money is “in loans”. The EB5 money is in assets- that’s how the program works- these aren’t “donations” to some charitable institution, these are invested in actual assets (businesses with positive cash flow, or property which will appreciate). The fact that your parents have borrowed in order to make those investments may or may not strike an Adcom as relevant. Real estate loans for example- it’s likely that your family has equity in the property, even after the loans are considered. So the fact that you’ve got a hefty mortgage on the property- there is still equity, which is why these assets have “counted” against you in the financial aid calculation.
Think less about “explaining” and more about documenting. Successful financial aid appeals are heavily documented without a lot of explanations.
What are your affordable options?
@blossom thank you so much for the detailed response. Currently, I applied to only 2 safeties: FIU (Full scholarship) and Hofstra (26K per year).
I didn’t hear back from my matches and only heard back from Hopkins (rejected), Grinnell (accepted) and Amherst (Waitlist).
Can you please elaborate on documented. Like proofs?
Thanking you again
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EB5 money was in loans<<<
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Is this what will appear on the EB5 application? It isn’t actually approved or invested?
Documentation would be a spreadsheet which outlines your assets with more details in the comment section than you have provided on your original financial aid statement. Documentation would be copies of bills which show medical expenses which were not covered by insurance. A three page letter which basically says “you need to give me more money” is not going to do it (IMHO). Your family may be the exception to the rule, but most EB5 participants have high net worth in their own country, and have both excess funds to invest in the US AND a high annual income which is what they live on. So if this is not your situation, your appeal needs to provide evidence as to why this is not the case for you.
Good luck! what is the total cost to you for FIU after the scholarship, and is that something you can afford???
@Sybylla that is what it says in the EB5 application. We can provide bank-notes and proof from our lawyer. I think I’ll talk to my family and work to further document all this as per the guidelines given by @blossom . Thank you guys for giving such amazing advice. I truly appreciate it!
@blossom FIU total cost for me would be 15K per year, totaling 60K for four years including room and board, flights, etc. My family can definitely afford this, but we are questioning the quality of education I would receive here and the opportunities that they would be able to provide for me.
Of course FIU would be a quality education. It’s a fully accredited school.
Sounds like you got full tuition. Great.
what is your major and career goal?
@mom2collegekids Yes, I did get full tuition. What I want in a college are peers who I can learn from and broaden thoughts by discussing, opportunities such as research & study abroad so I can advance in my field, awesome prehealth advising, and an intellectually rigorous environment to always push me to be at my best.
I can get these at Grinnell. I don’t think I’ll be able to get all at FIU. I’ll be frank. some students from my high school go to FIU every year. These are the party kids. The kids who cheat in tests. The kids who are always mischievous. I’m afraid that I won’t get what I want in a college and I heard reviews from students who got full tuition. They’re transferring out. I won’t state the exact reasons but yea. Its also ranked 231 so.
I think I’ll be able to get my goals at Grinnell. I also got into George Washington University. I’m waitlisted at Amherst and Colby. I still have 5 ivies, 4 T20s to hear from. Hopefully, I get into some of them. And as the other commenter said earlier, I’m really quite not a beggar. I have options.
I think the beggars and choosers thing is real. Why would any schools now offer institutional money to internationals? Unless you have a locked down offer, you have nothing. Schools will be busy in meetings rethinking their offers as we speak. If many schools continue to give out NEW offers of FA to internationals, I would like to see how that all works out. f1 visas have to prove their financials. You really have to be very smart. you don’t have the EB advantage, you are just another great international applicant needing huge amounts of money.