Hi, so I was recently accepted to Rice University for ED. When I received my tentative package, it wasn’t enough to cover the cost of my attendance. When I went to talk to them about the package, they told me that there would be a finalized offer in April. I was told that the final package would reduce the cost, but it still depends on a lot of things and still may not make attendance affordable. However, I am supposed to withdraw my applications to other schools by Jan 15. My attendance really depends on the aid that they give me. So, is my acceptance/ withdrawal of ED based on the current package or the April one? I know that the office said that they would give me aid, but I don’t want to run the risk of not getting any and not having a school to attend in the fall. Or, will the office let me hold onto the other apps until April so that I don’t have to be forced to take a gap year if need be? Thank you very much!
Did you and your parents run the numbers through the net price calculator? If there a big difference between what the net price calculator said that you would be eligible for and your package?
Unless there is a big gap between what you made last year and your your family intends to make this year (your family made far less money this year), I would not expect a change in your financial aid package.
Have you spoken to your parents. If you cannot work out the money, decline the acceptance and submit your other offers. What you cannot do is hold the offer open until april and continue to apply to other schools.
Did you expect a full ride?
You will receive Some aid if you have need.
Doesn’t Rice have an early priority filing of the Profile for ED applicants?
What does your current Rice offer look like? Does it include grants, loans, work study? In other words, does it already include need based aid?
We have a special circumstance that inhibits my family’s ability to pay. They said that they will consider that circumstance after March (the FAFSA and tax forms) but that amount is not fixed and I don’t know how good the appeal process will be so I don’t want to go in blind.
It doesn’t include need based aid yet, but I don’t know how good that offer will be so I don’t want to accept based on wishful thinking
I’m going to be very frank. If you have family extenuating circumstances that affect finances…you should not have applied ED…anywhere.
I hope you have other applications pending elsewhere that are affordable for your family.
You sound like you need the ability to compare financial aid and net cost offers. You are not going to get that with Rice. You have no way of knowing whether your circumstances will or won’t be considered in March. N other words, you could end up with a college acceptance and no way to pay all the bills.
I would make contact with the financial aid office at Rice again. Explain again that you were acceoted ED, and cannot commit without knowing what your actual financial aid package is. Ask if you can deal with the special circumstances consideration NOW.
If they say no, honestly, I would not allow my student to accept the ED admission offer, unless that student understood that if the money wasn’t forthcoming, they would have to take a gap year instead of attending college next year.
Unfortunately, applying ED in this situation, without the ability to compare aid offers, was perhaps not the best strategy.
They gave us some hypothetical situations for the aid but again they’re hypothetical so I can’t guarantee anything. They told me to contact the Director of Admission since this is a very delicate situation.
If you completed the early Profile filing, you should have received an estimated financial aid award on which to base your decision to accept or decline the offer.
Did you receive a financial aid package…or not?
From the Rice website :
So…did you file your Profile by November 15? Did you receive an award notice from Rice?
I did but it was very minimal and didn’t consider my family’s special circumstance.
Yes, they were the ones who told me about the finalized package in April. But they referred me to the admissions office because they didn’t know if I’m supposed to withdraw other apps or not.
I filed it and only got $15 K a few days ago.
You need to speak with financial aid…not admissions. Ask if they will review your special circumstances now, so,you can make an informed decision about your ability to afford this school.
If,they say they can’t do that, personally, I don’t see how you can accept this ED offer…unless you understand that if the money isn’t forthcoming, you will have to take a year off next year…and reapply to to colleges for 2017.
Not going to pry…but is is a new special circumstance? Or was it one that you knew about when you applied. Did you ever ask Rice about this financial situation before.
Why…why did you apply ED? Why?
I let them know about my special circumstance when I applied for aid. However, they based my current aid on the 2014 tax form. So, when my family files taxes in 2015, they will adjust the package accordingly. However, I don’t know what it will be. They told me to talk to admission to see if I can postpone my withdrawal of other applications since my package reduction isn’t certain and they don’t want me to have no option for Fall.
http://talk.collegeconfidential.com/texas-colleges/1842332-late-financial-aid.html#latest
More details in the OP’s post above…
Right. Admissions can delay the ED notification date…but it’s unlikely they will delay that until March.
You need to know right now how long admissions will extend your deadline.
You do understand that ED applicants agree to the financial terms…and your family should have been pretty aware of your 2015 income by November.
ETA…and if your financial situation changed very dramatically after November 15 (which does not sound like it was the case), you could have asked that your application be moved to regular decision.
How much CAN your parents pay each year???
[QUOTE=""]
package, it wasn't enough to cover the cost of my attendance
[/QUOTE]
?? Wasn’t enough to cover the cost of attendance?? Were you expecting that your family would have to pay NOTHING? If not, then how much will they pay??
You’re upper-middle class with medical expenses.
HOW much are the NECESSARY medical expenses that are NOT covered by insurance?
What is your family’s income?
Do not withdraw your applications until THIS issue is resolved. You may need to ask Rice for an extension.
Is your family income going to be less for 2015 because the primary income parent is sick and isn’t working? What will the income be for 2015
You posted this on December 17.
So it looks like you didn’t get your ED financial aid package because you did NOT apply for financial aid within the timeframe for ED notification. Is that your special circumstance?
Your medical expenses would need to be for the 2015 calendar year, and would need to be unreimbursed medical expenses…not ones covered by insurance.
But your bigger issue…you knew you had financial concerns, and you did not adhere to the deadline for applying for aid at the time ED students needed to do so.
So…did you file the Profile on December 18th?
My suggestion is you ask if there is any way Rice will include you in the regular decision admissions…because now…during school winter break…you are expecting them to jump through hoops for,you…because YOU missed the financial aid application deadline!
Also, how “upper middle,class” are you? What is your parent annual income? If Rice is saying you can pay $40,000 a year, this means your annual family income is likely in the $120,000 to $150,000 a year range.
How much aid were you expecting?