<p>i just had a quick question. hopefully you guys can help me out? :).
if i were to apply to a school that claims to meet 100% demonstrated need (which i'm pretty sure i would qualify) and got in ED... is that guaranteed? do i have to worry about finances? or is that not... blahhhhhhhhhhhhhhhhhhh. idk. ><em><.
i really wanna apply ED somewhere. money is DEF a problem. but it says 100% demonstrated needs are met. so i'm thinking that i'm all set if i got in...? ></em><.
thanks in advance for any answers! :).</p>
<p>Are you lowish income?</p>
<p>Or is money an issue because of another reason?</p>
<p>Do you have a non-custodial parent?</p>
<p>Do your parents have any assets?</p>
<p>Keep in mind that the SCHOOL gets to determine what your need is…not the family.</p>
<p>What school is this? What are your stats?</p>
<p>The thing you have to remember is that the school determines your need–not you or your family. And the two ideas about how much need you have may or may not be anywhere close to being in the same ballpark.</p>
<p>Have you sat down with your parents and run thru some EFC calculators? Is the EFC one your family can afford?</p>
<p>“Demonstrated need” means you do the demonstrating and the college decides. </p>
<p>It has absolutely nothing whatsoever to do with FAFSA, so calculating your EFC won’t really help.</p>
<p>There are NO guarantees re financial aid. Things can and do change between December and May. </p>
<p>If finances are a big issue, you should apply RD to multiple schools and compare your offers in the spring. Then you will also be able to sit down and look at the different aid packages and make sense of them.</p>
<p>Please also consider that “meeting need” does not mean matching your EFC in grant money. It also usually means loans and work study or a campus job. I have seen financial aid awards that were totally unreasonable in the amount they expected freshman to earn on a campus job – like, say, $5000. So on paper it all looks like it adds up and you are paying 0 – but when you actually look at the “self help” part you may find you are piling on extra loan and are expected to earn an amount that you know will be impossible, especially if you are opting for a tough major.</p>
<p>OP: Read through this thread and use some of these calculators. <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1204372-net-price-calculator.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1204372-net-price-calculator.html</a></p>
<p>Many I believe are accurate within a few thousand dollars. Since we are in a similar situation as you and need aid, I would never let S2 apply ED. It’s not a smart chance to take. Instead you should be doing just the opposite – applying to a good number of schools so you have packages to compare.</p>
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<p>Not all colleges have ED. Many have EA which is not binding. Follow the advice above and sit down with your parents and find out what they are willing to contribute to your college education. Once you know that then you can be smarter about your applications. If you are going to need aid for college you will be in a better position not to lock yourself into an ED college especially when it doesn’t sound like you have one ED school that you are considering but are more “in love” with the concept of ED.</p>
<p>I agree, do not apply ED anywhere. Apply RD and compare FA offers. ED is for those who have a dream school and just want to know if they can afford it, and don’t care about comparing FA offers.</p>
<p>Or, ED is for those who have a dream school and know that they can afford it.</p>
<p>^ Some schools apparently feel that way, but most seem to welcome ED apps from the less affluent (only the affluent can know they can afford it, though calculators offer an estimate), using the Common Application ED rule:
<a href=“https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf[/url]”>https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf</a></p>
<p>The chances of affording it go down with schools that don’t meet 100% of need.</p>
<p>haha thanks for the responses! :).
in saying “somewhere,” i actually did have a “dream” school in mind. i wasn’t going to apply ED just for the sake of doing so.
and yes, i’m low income :/.
the reason why i think i’d qualify for 100% needs is because my brother just recently graduated from uva and all of his needs were met so… i’m guessing i would qualify for 100% needs or at least somewhere close to 100% to where i was wanting to apply…
thanks again! :).</p>
<p>It depends on the school. And, how they view your circumstances. And, just exactly what their “meet full need” policy is. Many expect you to contribute from summer (and other) earnings, have a work study job and take Stafford loans. Go to that school’s “net price calculator” and see what the results are. It’s right on their web site. And, know that the biggest mistake people make is assuming about fin aid.</p>
<p>The point is, 100% need does not mean you get a full ride.</p>
<p>But do you understand that 100% need does NOT mean that the school gives you all the money you think you need? Very low income students who have a 0 EFC might get that – but if a student’s EFC $20K, then 100% need, at best, means that the college gives grants, loans, and work study make up the difference after the student’s family has paid out that $20K.</p>
<p>Colleges that state they meet 100% of need still vary considerably when determining what that need is. For example, I have used the net price calculators available at the College Board website and the difference is as much as $20,000 per year, eventhough both colleges state that they meet 100% of need.</p>
<p>Just because your brother got his full need met absolutely DOES NOT mean that you will. The school may have changed their financial aid policies, your parents situation may be different or viewed differently by the school, your brother’s stats may have been better – the list goes on and on. Hate to see you left without a college choice next spring because you gambled and made an assumption.</p>
<p>There’s no gamble; if the ED FA offer is insufficient, you start over in the RD round with other schools.</p>
<p>^ But, with an ED finaid offer, you often don’t know if you hold the best cards, how to determine if the first offer is close to the best you’d get . Dream U could leave you with a 15k bill and other schools could put your cost lower. Or, Dream could be in line with what others would offer. Just don’t know.</p>
<p>I’m not usually against ED, when the family has run the NPC, knows the range they could swing and understands the loan options and consequences. But, we don’t know OP’s financial situation. Just that bro got a great ride.</p>
<p>^ All good points. I assume dream means it doesn’t matter to the applicant if another school is cheaper; UVA is the dream, and will be the choice if it’s affordable. It seems likely that if bro got a free ride (aid only, no merit), sibling would as well.</p>
<p>I think OP’s avoided saying where, just that brother went to UVA.</p>
<p>Ah, good point, full ride is then not as likely.</p>
<p>AHHHHHHHHHH!!! ><em>< you guys have all been helpful! thanks!
but… i still don’t know what to do… -</em>___-;; lol. sorry for being difficult.</p>
<p>do you think i should apply ED? it’s a pretty competitive school. i’m not sure what my chances of getting in are (waiting for those SAT scores! >:D). but if i were to apply ED, this would definitely be the school. i’m going to go visit next week to make sure i don’t feel differently. i think there’s a time after the tour where you can ask the admission counselors or w/e about stuff like this…? so i’ll ask then to make sure if i’m able to.
but given the statement in the ED agreement pointed out by vonlost…</p>
<p>Should a student who applies for financial aid not be offered an award that makes attendance possible, the student may decline the offer of admission and
be released from the Early Decision commitment. The institution must notify the applicant of the decision within a reasonable and clearly stated period of time after the
Early Decision deadline. Usually, a nonrefundable deposit must be made well in advance of May 1. The institution will respond to an application for financial aid at or
near the time of an offer of admission</p>
<p>if i by chance, got in and couldn’t afford it… i wouldn’t i just be able to decline? but i figure it’s not that easy or people with low income would do EDs more… >_<.
i really do think that my income is low enough to qualify for 100% needs…
i don’t know if this has to do with aid or anything? but my brother also received a stipend every semester. </p>
<p>blahhhhh. idkidkidk. :/.</p>