<p>I am under serious consideration at an extremely selective conservatory in NYC. This institution is not need-blind. Merit (talent-wise) scholarships are given to many students. The cost of tuition and room/board is $37,890. The school requires FAFSA, which has been completed, but on a will file basis. My parents are waiting for tax documents (1099s) which will not be arriving until the last week of February. They will then immediately file by the March 3rd deadline. </p>
<p>Our EFC is $55,071. My parents have been aggressive savers for retirement and will not use those funds for education nor would I expect them to. They have fully funded 529 accounts for my 15-year-old brother (who is mathematically brilliant and will be going to college) and me for four years of attendance at our state university. We will each have about $80,000 to spend. I have already been accepted to my state university in a five-year chemical engineering program with full tuition paid for the entire five years a nice back-up.</p>
<p>The conservatory is now asking me to complete additional financial forms. The forms are pretty straight-forward, wanting my parents income, house value, and a copy of our completed tax forms. There is a section for additional comments.</p>
<p>Understandably, my parents and I are reluctant to take out large loans for a BFA as they would be very difficult to pay off after graduation. I am pragmatic, knowing that a career in the arts would not pay well. I train 40 hours a week during the school year, carry a full load of high school and college courses (and have a 4.0), so a job has been impossible. The conservatory is my dream school and dream career…pure happiness when Im engaged in this particular art. Out of the thousands who have auditioned throughout the nation, I believe they will be down to 40-50 potential applicants. Only 12 females will be selected. Luckily, if I just cant afford it or am not selected, I have the engineering option </p>
<p>My question is this: Should I flat out tell them, in the Additional Comments section of their financial form that I only have a total of $20,000 per year for four years to contribute? Could this hurt my chances for final admission if they know I need assistance?</p>
<p>Maybe it could hurt your chances for final admission if you disclose this, but it will hurt your chances for financial aid if you don’t. What good will it do you to be admitted but be unable to go because you can’t afford it?</p>
<p>Tell them the truth. They’ll recalculate what they think your “need” is anyway.</p>
<p>I agree with Chedva. But realize the EFC is calculated on what the formulas say you can pay, not on what you wish to pay. If you are at the top of the audition food chain, they may increase your talent award, but it would be unrealistic to assume a large increase.</p>
<p>Filing the additional forms MAY be necessary for ANY aid, talent or otherwise. This is institution specific, and should be on the school’s website.</p>
<p>Since you said BFA as opposed to BM, I’m assuming it’s a discipline in the theater or dance arts, not instumental or vocal performance.</p>
<p>If this is your EFC…you have no financial need that the school is going to provide anyway. I would be honest with them. I’m not sure this information sways folks one way or the other anyway. We put down that we could pay $5000 per year for our DD (and we are paying $30,000). I’m not sure they looked at this info at all when awarding her financial aid…but they DID look at our EFC…and they will look at yours as well.</p>
<p>Thanks, Chedva. Your answer makes so much sense! Ill tell them exactly how much I have to spend and <em>also</em> how much Im willing to go into debt. I guess if they want me badly enough, theyll make it work. My pride was holding me back I think I wanted to know from them that I was talented enough to be accepted, without being turned down because of potential financial need.</p>
<p>Thanks also to violadad and thumper1. I do know that the EFC is what we are expected to pay. I didnt mean to imply that I was looking for financial aid based on need. My friend received a very nice talent scholarship with a similar EFC so I know the money is there, but didnt want to compromise my chances of acceptance.</p>
<p>Your link was timely, violadad. As you appreciate, artistic passion burns deeply. I cant imagine myself doing anything else. I have always been aware of the competitive nature of the industry, and will remain prepared to move on if it doesnt work out. I worked extra hard in high school to have most of my general college requirements finished, along with all of my college inorganic chemistry, a full year of college calculus, and Spanish through the second college year. Plus, I will have access to Columbia through an exchange program, where I can potentially pick up a few more courses throughout the next four years if J. takes me. And, yes, I am a dancer.</p>
<p>I don’t get it. Your EFC is 55k because your parents HAVE the assets to pay it. It isn’t about whether they WANT to use their assets to pay it. Are you saying that you want to put this on your merit application? I didn’t think merit scholarship awards were based on EFC or any other financial ability to pay. I thought they were awarded on merit, period. Am I wrong on this? Maybe I don’t understnd your question.</p>
<p>jocan, some institutions require the submission of financial forms regardless if the aid is merit, talent, or need-based. It’s school specific, and that info is usually found within the school’s admission/financial webpages.</p>
<p>Schools will favor a wealthy student over a needy student, which is one of the dirty little secrets of academia. Reporting an EFC of 55K will cause the college to take out their party hats and have a celebration. </p>
<p>A client of mine had his daughter apply to schools where he was shocked she got in. I told him that his $270,000 yearly income had something to do with it. He told admissions that he wasn’t going to be applying for financial aid. The sound in the admissions office went something like this: Ka-Ching!</p>
<p>Colleges are a business, and their primary objective is to make money, not educate. The sooner this reality is faced squarely, the easier it will be to consider realistic, not fantasy, options.</p>
<p>Word to the wealthy: your chances are excellent. This is a rule created by the schools themselves to which there are exceptions. The task can be Herculeon to determine which schools are the exception.</p>
<p>Just a word…arts merit awards are usually based on either an audition or a porfolio of some sort. In my experience, they are separate from any need the student demonstrates. In other words…a VERY talented musician who is wealthy is just as likely to get a talent award as a poor one…based on audition.</p>