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Financial aid??

reeeeee1reeeeee1 29 replies7 discussionsRegistered User Posts: 36 Junior Member
Hey so I'm looking at my fin aid package for Penn (woo-hoo!) but it seems a little off to me. Is it possible to call them and see if they can reevaluate my fin aid package? My family makes ~50k a year and no assets and stuff but I have to pay 15k for tuition. Does than sound normal/I'm overreacting or does something seem wrong with that?
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Replies to: Financial aid??

  • aoeuidhtnsaoeuidhtns 419 replies3 discussionsRegistered User Posts: 422 Member
    Yes, it's absolutely possible to get more money. If you're close to campus, going in-person is even better, but you should start by calling them. Explain that you were admitted, but you're not sure you'd be able to make ends meet at the current financial aid award amount.

    Don't try to do this tomorrow -- their office is going to be swamped with requests like this. You'll have better luck next Monday/Tuesday.
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  • reeeeee1reeeeee1 29 replies7 discussionsRegistered User Posts: 36 Junior Member
    @aoeuidhtns I'm a whole flight away from Penn LOL so I'll call them next week. Thanks for the help really appreciate it!!
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  • profdad2021profdad2021 498 replies12 discussionsRegistered User Posts: 510 Member
    If you ran a net price calculator on their website prior to applying, and if those numbers suggested more generous aid than what they have offered you now, then be sure to mention that and provide documentation if you have it.
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  • reeeeee1reeeeee1 29 replies7 discussionsRegistered User Posts: 36 Junior Member
    yeah the fin aid calculator said a much different number for fin aid thanks for the suggesstion! @profdad2021
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  • Pennmom2022Pennmom2022 11 replies0 discussionsRegistered User Posts: 11 New Member
    edited December 2018
    Definitely call the financial services office. You will be assigned a financial aid officer. Penn is very amicable to looking over your financial documents and adjusting your EFC. Also, students are allowed to take out a loan up to $6,500 per year. That will help you off set the tuition and help your parents.
    edited December 2018
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  • reeeeee1reeeeee1 29 replies7 discussionsRegistered User Posts: 36 Junior Member
    Thank you so much! @Pennmom2022
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  • Pennmom2022Pennmom2022 11 replies0 discussionsRegistered User Posts: 11 New Member
    edited December 2018
    Also, the $6,500 loan is at a very good interest rate. Your parents do not need to cosign. A;so, your parents may want to go to Facebook and join the closed group of parents whose children attend UPenn. It is very informative and helped me this year with many questions and concerns. My son is a freshman there. Its called "Parents of UPenn Students."
    edited December 2018
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  • reeeeee1reeeeee1 29 replies7 discussionsRegistered User Posts: 36 Junior Member
    @aoeuidhtns okay I called financial aid today and i got transferred a couple times and then this dude just told me to fill out a financial aid reevaluation form. didn't really talk about anything else, but he asked me for my name and how much I pay for rent (which was weird). does that sound right?
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  • aoeuidhtnsaoeuidhtns 419 replies3 discussionsRegistered User Posts: 422 Member
    @reeeeee1 I'm not sure what the reevaluation form looks like, but try to be specific in how much extra aid you're trying to get -- e.g., if it's $7.5k then say that if you're not able to get that much, you're unfortunately in a spot where you'd have to decline the ED offer.
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  • liveforitliveforit 150 replies87 discussionsRegistered User Posts: 237 Junior Member
    @reeeeee1 What ended up happening? What did the financial aid office say? I am in a similar boat as you.
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  • Angelababy30Angelababy30 165 replies17 discussionsRegistered User Posts: 182 Junior Member
    @reeeeee1 Penn usually is really generous with grants, I had submitted the reevaluation form when I got accepted last year as well (it is for RD tho!) so if you have any question about the process, let me know!
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  • liveforitliveforit 150 replies87 discussionsRegistered User Posts: 237 Junior Member
    ^ how much did they give you initially and what did they revise it to? What did you tell them when you submitted a re-evaluation?
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  • Angelababy30Angelababy30 165 replies17 discussionsRegistered User Posts: 182 Junior Member
    @liveforit Initially, I received about $40k in Penn Grants and Federal Grants, but I received almost $50k of Penn Grants and Federal Grants at the end. I have heard from some of my friends that get about $3-6k of additional grants as well.
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  • reeeeee1reeeeee1 29 replies7 discussionsRegistered User Posts: 36 Junior Member
    @liveforit hey sorry. havent been on CC for a while so sorry for the late reply but they were able to reduce it down to ~10.5k. Trying to grind scholarships now but Im pretty sure I'll be taking out loans. They won't be that big though I think so I just hope the scholarships start rolling in soon.
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