<p>noranda,</p>
<p>Yes, I’d definitely suggest calling and speaking with the financial aid office directly because they’d be able to give you information specific to your situation.</p>
<p>That said, the new finaid policy eliminates <em>student</em> loan from financial aid packages. EFC (expected family contribution) is still calculated according to all the information that was provided on all those documents. Depending on how much that EFC is, families might still take out loans to cover it. Now, as a Davis Scholar and an independent, I’m not sure how the EFC is calculated or if it’s applicable in your situation. Best to call the office and make sure. But just wanted to clarify that Wellesley’s finaid policy (and most of the new finaid policies announced at other schools) <em>don’t</em> automatically eliminate the parental/family contribution to pay for school. It eliminates the part of the package that would have been <em>student</em> loan and replaced with grant money. Also, the $60K isn’t just based on income, but includes certain assets as well.</p>