About Financial Aid: Appeal Failed

[render142]

Hey guys,

I’m an international student who got accepted at Colgate, seeking a high amount of Financial Aid.

The financial aid package they sent me was of around 17.000 USD per year. Sarah Lawrence (another college I got accepted too) offered a Fin Aid package of around 37.000 USD. How is this even possible? I would need around what Sarah Lawrence gave me to be able to attend and I would really love to go to Colgate.

I sent an appeal to Colgate, giving special attention to several facts:

1. They commit to give 100% demonstrated need to ALL accepted students. In fact, they just received a huge founding strictly for Financial Aid. (Source: http://www.colgate.edu/admission-financial-aid/financial-aid) They even encourage you to apply.

2. Sarah Lawrence Calculated that my demonstrated need was around 37.000 USD, how is it even possible that Colgate calculated that my need was 17.000 USD (both colleges used the exact same data).

3. There are several currency exchange blockages imposed by the current government of my country that they didn’t take into account.

Colgate’s Financial Aid office response was solely that they couldn’t take into account the different problems in each country. They ignored the other two points.

What should I do? My parents make around 90.000 USD per year and have no special circumstances (no land,or huge companies, we only own our house). How can they pay 36.000 USD per year for me (Colgate estimated cost is 62.000), 15.000 for my brother and be able to live themselves in my country at the same time.

Please any advice would be greatly appreciated.

Thanks

[thumper1]

Go to Sarah Lawrence or some other affordable place where you got accepted. You tried to get Colgate to reconsider, and they won’t.

ETA…this is from the Colgate website:

Colgate financial aid is available on a limited basis to students who are not U.S. citizens or permanent residents. We anticipate that each year only a relatively small and highly qualified group of international students will be offered financial aid. While competition for international student financial aid is strong, we are committed to maintaining and expanding our global campus community.

Sounds to me like international student aid is limited…and meeting full need is not a guarantee for international students.

AND this from Sarah Lawrence:

Sarah Lawrence College awards limited, need-based financial aid to international students. As a highly selective college, we take each student’s academic and personal merit into account when we make our admission decisions. After we admit a student, the College awards financial aid based upon each student’s demonstrated need. We offer financial aid to all students who have demonstrated financial need and we try to fund those students as fully as possible to enable them to study at Sarah Lawrence College.

These schools both do not guarantee to meet full need for international students…or so,these pages imply. The schools determine how much aid to award international students. And it might not meet full need. Sarah Lawrence gave you more aid.

[MiddKid86]

Sarah Lawrence Calculated that my demonstrated need was around 37.000 USD, how is it even possible that Colgate calculated that my need was 17.000 USD (both colleges used the exact same data).

They might use the same data that you provided, but they don’t use the same formulas. That’s how it’s possible for the two final numbers to be different.

What should I do?

Attend the school that you can afford, and be grateful that you have been offered any aid at all. Depending on the school, many U.S. students with a family income of $90,000 per year might be offered nothing.

[dodgersmom]

My parents make around 90.000 USD per year . . . How can they pay 36.000 USD per year for me . . . and be able to live themselves

Just so you know, lots of families find themselves in this situation. The assumption is that a family making $90,000 per year will (1) have savings set aside for college; (2) be willing and able to borrow money for college; and (3) be able to pay the remaining cost out of the family’s annual income. The reality? Many, many families cannot do this - they don’t have savings, they can’t afford to borrow, and they cannot simply set aside 1/3 to 1/2 of their income for college. I know it doesn’t help, but you’re not alone.

[BrownParent]

What to do is pick a college you can afford. These expensive colleges are out of many students reach.