Will I qualify or not? Please HELP!!

<p>So my parent's annual income is around 120k minus tax returns. I know that it's considered a lot but paying up to 56,000 dollars for tuition fees a year with that income doesn't leave much. I was wondering how it works out? Will I qualify for FA? </p>

<p>Also, I'm a little new to the process so I was wondering, if I do get FA, then when I graduate, do I pay all of that money back to the university I attend?</p>

<p>It is doubtful that you will qualify for any more than loans through FAFSA with your parents income, even with siblings in college at the same time. However, if you apply to private colleges, some of the ones that are the most generous with financial aid may have some aid, especially if there are some extenuating conditions. </p>

<p>You can fill out a FAFSA estimator that will give you an estimated EFC that is a start. It tells you what the government calculator come up with for what your family should pay. For many private schools that give out significant aid from their own coffers, you will likely need to also fill out a PROFILE form.</p>

<p>But the short answer is that you are unlikely to qualify for more than loans in terms of financial aid. </p>

<p>As a freshman, you will qualify for $5500 in Stafford loans if you go through the FAFSA process. It goes up a bit as you become an upper classman. You do have to repay the loan to the government when you graduate.</p>

<p>Your parents can take out loans through PLUS after completing FAFSA and, again, they will have to repay the government.</p>

<p>If you apply to schools that have merit aid and you are in the top percentage of students, then you might get some of such monies regardless of need. Check out schools to see what kind of merit money is available.</p>

<p>Are these your stats?</p>





<p>When asking on the forum about finances, it’s important to include that you are not an American citizen. Aid for international applicants is different.</p>

<p>The idea for paying for college, or a house, or a car, is not that parents write a check from yearly income. Very very few families can do that. The concept is that families save money each year towards paying for high-ticket items.</p>

<p>Have you sat down with your parents and asked them how much, if anything, they plan to contribute? That is the first step.</p>

<p>^ I was just about to mention that I’m an international student. What I previously wrote on the chances thread was an error, as I was unaware of the situation at the time. </p>

<p>I have spoken to my parents about it and they do plan to contribute a fraction of what the University fees are. Even then as an international applicant, how does it work out?</p>



<p>What part of what you wrote was an error?
That you had a 2400?
That you won’t require FA?
That you are British?</p>

<p>That I won’t require FA.</p>

<p>If you are applying as an international student which you must do unless you have the green card or other permanent resident paperwork or US citizenship, you are not eligible for any government aid. You do not fill out FAFSA, but a form that is for internationals.</p>

<p>Some schools have limited aid for internationals, and many of the more selective school that are need blind for US citizens are not need blind for internationals. You need to check each school on your list to see if you qualify for any funds from the school, given your status. You will not have the loan options that US students do.</p>

<p>@OP - I commend you for addressing these financial issues up-front with your parents, and your great stats. </p>

<p>You have a lot of research ahead of you, and you can learn a lot from these forums; search for what other international students with comparable scores have done. </p>

<p>[Financial</a> Aid -> Search: International](<a href=“http://talk.collegeconfidential.com/search.php?searchid=30093188]Financial”>http://talk.collegeconfidential.com/search.php?searchid=30093188)</p>

<p>[International</a> Students - College Confidential](<a href=“http://talk.collegeconfidential.com/international-students/]International”>International Students - College Confidential Forums)</p>

<p>As you do your research, be sure to find a safety that you love and can afford.</p>

<p>Where do you live? Are there counselors at your school who can advise you?</p>

<p>Since it is unlikely that you would qualify for the aid that you would need (even as an int’l), you must apply to some “kind of” financial safety schools as well. </p>

<p>Those would be schools that will likely give you big merit for your stats. There are some that will give int’ls big merit. </p>

<p>how much will your parents’ pay per year? If you don’t know an exact amount (including money for int’l travel and personal expenses), then ask them. you need to know a firm amount so you’ll know what you’re dealing with.</p>

<p>Unless you get accepted to Harvard, Stanford, Yale or Princeton, it’s unlikely that you will get enough aid if your parents will only pay a “fraction” since other schools that give aid won’t give a lot to a family with that income. </p>

<p>*if I do get FA, then when I graduate, do I pay all of that money back to the university I attend? *</p>

<p>Since you’re an int’l, it’s doubtful that you’d be offered loans. Frankly, one of the reasons why many schools don’t give int’ls much or any aid is because they can’t be offered federal grants or federal loans or federal work-study…that can be about $12k+ right there if the student is low income. </p>

<p>Since privates in the US cost about $55k per year (plus international travel) and publics cost anywhere from about $25k-50k for int’ls (plus travel), then it’s very important to know how muh your family will pay in order for you to come up with a sensible list.</p>

<p>So, how much will parents pay each year and what is your likely major/career??</p>

<p>@mom2collegekids, my parents can pay up to half of the 56k fees at most universities (which include room, board, health insurance, tuition and books), so we’re looking at around 28k paid by my parents. I plan on majoring in English Literature and minoring in Philosophy. I want to go onto Law School afterwards. </p>

<p>@mtpaper, yeah, I live in London, we have college counsellors at my school. I need to talk to them about it.</p>

<p>I don’t have much advice, but…</p>

<p>While 28k is not 100% of the cost, it is certainly a substantial portion… yes, it is a fraction, but 50% is very different from 10% (which is how I interpreted your post).</p>

<p>*my parents can pay up to half of the 56k fees at most universities (which include room, board, health insurance, tuition and books), so we’re looking at around 28k paid by my parents. I plan on majoring in English Literature and minoring in Philosophy. I want to go onto Law School afterwards. </p>


<p>What about int’l travel costs and personal expenses…that can easily bring the cost to $60k per year. </p>

<p>So, are you saying that your parents have specifically said that they will pay up to $28k per year? Do they know the full cost, so they know what “half” is??? </p>

<p>Anyway…it’s unlikely that for most schools that will give need-based aid to an int’l student, that they will give you $30k+ per year…based on family income and whatever assets your parents have. These schools also include home equity and money set aside for retirement (that isn’t put in a protected retirement acct) in their calculations.</p>

<p>So, your strategy would need to be…</p>

<p>Apply to HYPS since they give super aid. They use a formula that is uniquely generous. The other ivies and top privates don’t use that super generous formula. These are super-reaches since they are hard to get accepted to.</p>

<p>Apply to some other privates that give full aid to int’ls, but those will be also be super reaches since they are hard to get accepted to AND they are likely going to expect your family to pay more than $28k…so you might get accepted, but still not get any or much aid. </p>

<p>Apply to some schools that will give you big merit for your stats. </p>

<p>Since your goal is law school, going to a top undergrad isn’t that important. Law school admissions are largely GPA and LSAT driven. Many mid-tier schools can adequately provide the necessary undergrad education. Keep in mind that some mid-tier schools have Top Tier Law Schools so their undergrads are often strong in the humanities. </p>

<p>Will your parents pay for law school as well? Or is their contribution for only undergrad? If so, you might want to negotiate that if you get aid/scholarships that greatly reduces their contribution, will they help pay for law school?</p>

<p>MTpaper…I think the student is in England.</p>

<p>@mom2collegekids, yeah they’re aware of the costs and they are willing to pay atleast half. Regarding cost and travel, they’ll be paying for that too. About law school, they haven’t really said so yet. But, you mention that I should look at schools which will offer merit aid - My aim is HYPS but none of them offer merit aid. Out of the schools I am looking at, Berkeley and a few other publics are offering merit aid. </p>

<p>Can u suggest any scholarships that would cater to my circumstances?</p>

<p>*Out of the schools I am looking at, Berkeley and a few other publics are offering merit aid. </p>


<p>Where are you seeing that Berkeley is offering merit aid to int’ls? Cal usually doesn’t give money to int’ls. </p>

<p>If you’re mostly looking at top 25 schools (which it sounds like you are), then I don’t know what to recommend since those schools either don’t give any merit scholarships or they don’t likely give them to int’ls. Maybe someone here can recommend some top schools that would give you merit.</p>

<p>From Princeton’s website:
Financial aid for international students: Princeton is one of only six colleges nationwide that offer need-blind admission and full-need financial aid to international students.</p>

<p>[Princeton</a> University | What’s Great About Princeton’s Financial Aid](<a href=“http://www.princeton.edu/admission/financialaid/whats_great/]Princeton”>http://www.princeton.edu/admission/financialaid/whats_great/)</p>

<p>From Harvard’s website:
The financial aid policies for foreign citizens are exactly the same as those for U.S. citizens. All aid is need-based, and admissions decisions are made without regard to whether an applicant has applied for financial assistance.</p>

<p><a href=“http://www.admissions.college.harvard.edu/apply/international/international_aid.html[/url]”>http://www.admissions.college.harvard.edu/apply/international/international_aid.html&lt;/a&gt;&lt;/p&gt;

<p>LOL - you’re a smart kid, but your google skills seem a tad rusty…</p>

<p>@mtpaper, I know that Harvard and Princeton are need-blind to international applicants. I was talking about merit-based aid and scholarships, not need-based aid.</p>

<p><a href=“http://www.fao.fas.harvard.edu/icb/icb.do[/url]”>http://www.fao.fas.harvard.edu/icb/icb.do&lt;/a&gt;&lt;/p&gt;

<p>‘All of our financial aid is awarded on the basis of demonstrated financial need—there are no academic, athletic or merit-based awards,’</p>

<p><a href=“http://www.princeton.edu/pr/aid/08/qa/[/url]”>http://www.princeton.edu/pr/aid/08/qa/&lt;/a&gt;&lt;/p&gt;

<p>‘Princeton grant funds are allocated solely on an evaluation of a student’s need. We do not offer merit aid.’</p>

<p>As for Berkeley, they do offer merit aid but financial need is also required to qualify.</p>

<p>correct. Princeton and Harvard do not offer merit based aid.</p>

<p>With your parents’ income at $120k, you qualify for need-based aid at Princeton and Harvard.</p>



<p>There isn’t much sense in completing a US undergrad degree, and then a US law degree, because that US law degree won’t prepare you to practice law in the UK. If your goal is to pursue a legal career, it makes a lot more sense for you to pursue a first degree in law in the UK, and then possibly come to the US for advanced studies in law.</p>

<p>@happymomof1, I know. But I plan on practicing in the US, and I don’t really appreciate the methodology of teaching in the UK. I may be sacrificing a few extra years in the US, and money, but I’d rather study there then here. Plus since I go to an American school I’m use to the system now and I’d like to continue. </p>

<p>Saying that, I’m considering staying on here too. Plus fees are cheaper, and family is here. I’m not ruling it out totally.</p>