Questions about financial aid, ED, etc. So confused

<p>Okay, so my family makes about 130,000 a year, and so my EFC on every financial aid calculator is the full cost. The problem, however, is that my parents can only afford 13,000 a year. If I apply ED to Amherst College, and ending up not being able to afford it, will I be able to decline the offer? Or will they hold me accountable because technically my parents could pay? Amherst is about 60,000 a year, so I really don't want to have to take out 50,000 in loans each year.</p>

<p>If you cannot afford the school based on the aid offered you can decline. However, if you KNOW your EFC from the school's calculator is $30K and you can only pay $13K why are you applying ED? Why apply there at all?? Look for some place less expensive.</p>

<p>You don't have to attend if it is unaffordable. What you do lose by applying ED was the ability to compare the Amherst FA package with those of other schools.</p>

<p>Not sure why you're asking

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If I apply ED to Amherst College

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since you either have or haven't applied ED by now.</p>

<p>ED deadline is November 15th- I'm basically trying to decide to apply ED or RD.</p>

<p>Since you already know that the school is going to cost more than the 13k that your parents have committed to paying you need to apply RD so that you can have the chance to compare packages. </p>

<p>I agree with the others, if you already know that the school is financially out of reach, why put yourself in a bind? Your goal right now is to make sure that compile a list of schools where you can get merit aid to reduce the cost to attending to the point that they are affordable to your family or to find schools that are financially feasible options for your family.</p>

<p>In our experience the financial aid calculator at Amherst was pretty spot on. If you know that if admitted to Amherst, you will be a full pay student (this means that your family has considerable assets on top of their 6 figure income), then wishful thinking is not going to change your situation. The school id financially out of reach based on the parameters that your parents have set.</p>

<p>Remember, when you file ED, you are committing yourself, your parents and your school. Your parents and your GC are suppose to acknowledge that they and you understand what applying ED means.
I know at the school where I work, when a student applies ED, you can only send out transcripts, recommendations to SUNY and CUNY (which are rolling admissions and those applications are out before the ED decision is made). Once a student is admitted ED, as per the agreement, the student is not suppose to create any new applications. The process stops until the school is notified in writing that that the student is released from the agreement.</p>

<p>
[quote]
ED deadline is November 15th

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</p>

<p>Aha, thanks for the info, I just assumed Nov 1, should have known better :o.</p>