I have just been accepted to Dartmouth’s class of 2020 as an Early Decision Applicant. I applied for Financial Aid and received around $10, 000. However, this seems as much as I will get, which is concerning as my parents had hoped to get around $30,000. My parent’s income is around $100,000 so I will need loans to go this school. I probably will attend nonetheless but is there anything that I can do to help my financial circumstances?
Work full time in summer and spend it on tuition, room/board.
Is your parents income around 100k before or after taxes? If your parents income is 100k before taxes, are they self employed or business owner? Does your family own a farm or real estate outside of your primary residence. Does your parents have considerable assets?
@Madison85 Yes, I plan to do that.
@sybbie719 We already filled out the CSS profile and have taken those factors into consideration.
However, you did not answer the question.
The net-net is that Dartmouth takes those things into consideration when creating a financial aid package for you.
Do you feel that there are other factors that are not on the profile that Dartmouth should have considered.
If yes, did you fill out a request for a financial review where you included documentation for those items?
Dartmouth costs $68k/year, and that doesn’t include books or personal expenses. If you’re a US citizen, you can only borrow ~$5500/year. If they don’t have it, your parents will have to borrow the rest. How much are they willing to pay per year?
$100,000 in net income?
Answer Sybbie’s questions. If your family has more pretax income than $100,000, say so. If you own real estate in addition to your primary residence…say so. If your family owns a business, say so.
We can’t give you reasonable advice without all,the facts.
At this point, Dartmouth is saying your family can pay about $50,000 a year…this suggests an income in the $180,000-$200,000 a year range and/or very significant assets.
If this is the case, you will not qualify for additional need based aid at Dartmouth.
You are saying your parents hoped to get $30,000 a year in need based aid. This would mean that they planned to pay $30,000 a year…which suggests an income higher than $150,000 a year.
ETA…YOU will not be able to take $50,000 a year in loans. You will either need your parents to cosign, or they will need to take these loans in their name.
Dartmouth is a great school…but it is not worth $200,000 in undergrad loans.
@sybbie719 @austinmshauri @thumper1 By saying that I filled out the CSS form, I meant that I know I will not get any further aid from Dartmouth. I’ve already appealed to the aid office but they rejected my appeal. I forgot to mention that I am an international, which may explain the disparity between the expected and actual aid. Our estimation came from Dartmouth’s aid calculator, although we knew that it is not accurate for internationals. However, we did not think that the difference would be this big. We’re not sure but my parents can probably afford to pay for the first few years, but I may eventually have to take out loans. I did not answer the questions because I do not know the exact figures. However, I can tell you that yes, the net income is around $100,000 and we have one house that we own. But again, I know that any appeal is highly unlikely to work which is why telling you these facts is unnecessary.
If u think giving us the facts is superfluous, including the fact that your parents can fund 50k/yr for the first few years (that’s substantial resources!) , then what kind of financial advice are you expecting?
For an int’l, Dartmouth is going to cost over $70k per year once you add in int’l travel PLUS health insurance.
Are you saying that your parents can pay $60k per year for the first few years???
You already know the answer to your question. You will need to take out loans for your education. There is no way to bridge that gap. Either your family can afford that or not. If not then find a different school.
Something is NOT right in your information. Dartmouth guarantees to meet full need for all accepted students, including international students.
U.S. citizens get free tuition with incomes below $100,000 a year.
It sounds like there is more money than what you are putting here.
No one here cares about your net income. What is your GROSS income? I’m betting it is a LOT higher than $100,000 a year.
@thumper1 While it is true that Dartmouth guarantees to meet full need, how it calculates a family’s need is another question. I really don’t have a reason to lie in this forum.
The only suggestion I would have is to talk to the Financial Aid office to gain an understanding as to why your aid figure is what it is.
Income, business ownership, income producing real estate, non qualified investment accounts etc are all things that will influence aid eligibility.
Being full pay or close to full pay is not fun. We are a full pay family and have made significant sacrifices to send our daughter to where she goes.
I never said you lied. I said, there seems to be missing information here. Dartmouth guarantees to meet full need for all…even though it is now need aware for international students. Further, the school gives full tuition for students with incomes under $100,000 a year…but continues to give graduated need based aid for students whose family incomes are above $100,000.
If your parent income is just over $100,000…gross income, not net, I’m surprised your need was not more significant…unless your assets were more significant than you thought.
Or the school or you made an error. Check every single line on your Profile. Make sure that the parent income did not get put in the student section. Make sure every number is accurate.
Also, remember that loans will come from your family, not from the school. US loan institutions will not lend money to international candidates because they have problems collecting the repay.