Accepting FA for ED

This is an important thread for future applicants to read.

It sounds as if the OP either did not make the right decision about applying ED or did not do enough research before applying to know what s/he was getting into.

I’d hazard a guess that the parents may have been too distracted by the sib’s medical issues to sit down and think through the process - or maybe just unwilling to let the OP know that they couldn’t afford it.

Even if OP gets the one-time doubling of aid, how are the parents going to pay for Rice for the following 3 years?

I wonder if this situation will have a negative effect on next year’s applicants to Rice from the OP’s high school. I’m sure OP’s counselor is not happy about it.

File this under “actions have consequences.”

So what you are saying is you might have medical,expenses in 2016…that is not certain, correct?

Yes, Rice wants to keep ED students…but you are asking them to hold,your ED acceptance until the RD acceptances are out.

The purpose of ED is to commit early…not get to wait until the RD decisions are in.

If all,Rice is showing you is Parent Plus loans, they are simply saying that they think your family should pay. Plus loans are really not financial aid. They are loans parents take to fund college.

If this is all they are offering you…the school is not affordable unless your parents will take a loan.

Yes, we expect to have some medical expenses in 2016, but I don’t know if it will be early 2016 (before they consider my package). Most of what they offered me were loans, which my parents are okay with, but I don’t feel comfortable relying on loans exclusively since I do have to look out for my sibling. Even though I plan on pursuing chemical engineering, it will take me a long time to pay off the loans. I do plan on applying for scholarships over this break but I won’t be notified about those until March/April as well so I’m not considering those so that I can base my judgement on worst case scenario and brace myself.

Here is what you are looking at…you are looking at $40,000 a year in loans…at least. That is $160,000 for four years of undergrad school. That is your scnerio right now.

You do not have medical expenses to show the school now (hoping that doesn’t need to happen).

So…can your parents pay all but $15,000 a year (and that includes a loan already…plus work study which is not money you receive up front). Is this affordable?

There are plent of less expensive colleges that offer engineering degrees. Did you apply to an others? Did you apply where you might have gotten significant merit aid (like University of Alabama…if you got,accepted to Rice, did you have the stats for significant guaranteed merit award elsewhere?).

I really hope this all,works out for you…but you really need to,have an ASAP conversation with Rice financial aid. If all they are offering you is more loans…you need to think very carefully about this. Very carefully.

I know I can’t afford the school…but my parents are also pushing me to go here because they’re scared that I’ll be penalized for breaking the ED Agreement (even though it’s for reasons that are legitimate) and feel that it’s worth the investment for me to go here. I applied to Texas A&M and UT Austin and I got into TAMU engineering and got automatic admission for UT (I’ll get my major in a few weeks). I do have other schools to go to, but my parents feel that they’re making the right choice for me and won’t give up. If the Director says I’ll have to withdraw as usual, they’re willing to let me nullify the agreement but if he doesn’t, I’m not sure what I can do.

There is no school on the planet that will force you to attend if you cannot afford to do so. None.

Students have these unforeseen issues every year. The school,will complete.y understand if you explain that you cannot attend because you are uncertain about the costs of medical obligations for your sibling. And that these impact your ability to pay.

You don’t even have to give them a song and dance explanation. You can simply say, thank you for,your offer of acceptance. I am unable accept this offer because my family cannot afford it at this time.

You already have TAMU which is an excellent program. And it sounds affordable.

Yes, I understand, but my parents are very stubborn. The only thing I can think of if I’m offered an extension is to talk to my counselor at school to see if she can explain to my parents that I will not by penalized for not attending. TAMU is a great program and I have confidence that I’ll get into UT so I do have good options, yet to my parents, Rice is superior.

There is no penalty for breaking ED for financiall reasons.


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The medical expenses were covered by insurance, but we still have to continue with them and insurance recently denied coverag

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Are you saying that your parents recently submitted some expense to the insurance company and that unique expense was denied? that happens, especially if the expense was not considered necessary. How much was that expense and was it a true medical expense that was necessary?

HOW much WILL your parents pay each year? What is their target amount to pay?

Also keep in mind that you will have to reapply each year. You and your family will need to look at things over the course of 4 years . Even if Rice were to give you more aid ( and I doubt if it is going to be an appreciable amount), unless these are on going medical expenses that are not going to be reimbursed, you are just going to be in the same predicament next year. Then you will be a transfer stude t where your chances of getting a good financial aid package or good merit will be nil

Yes, get your GC to talk to them, both about how the ED is not binding for you, and about the quality of the other affordable programs.

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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


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the package that they have given me now is $15K. It has a Rice grant, a loan and a work stud

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THAT is need based aid. Do you realize that?

No…Rice is not worth the investment if that means DEBT. You won’t get paid more for an eng’g job because you went to Rice.

^^^ Do your parents know this? An employer will pay a TAMU, UT, or RIce grad the SAME…the SAME.

If your parents INSIST, then tell them that YOU won’t take out loans. If THEY want to take out loans that only THEY are responsible for, then fine. But it’s a bad idea either way.

ASK your parents WHO will be 100% responsible for these loans.

Your parents can’t stop you from declining Rice. They might get mad, but it won’t last long.

Are your parents immigrants? If so, they may not realize that companies will pay new-hires the same whether they went to TAMU or Rice.

I’ll see if I can make them understand that. I’m still going to talk to my counselor to see if she can help with the situation.

Your counselor,should be able to reassure your parents that a degree from TAMU is a fine one…fine.

Look…Rice is an excellent school…but not if its unaffordable. And for engineering, you will get a fine education at TAMU.

First, you need to educate your parents about how a Rice Eng’g degree will NOT mean a higher salary.

Secondly, you can show them that TAMU eng’g grads are just as well paid (which area of eng’g interests you?)

Lastly, and most importantly, you can politely insist that you will not agree to debt, because it’s not necessary.

Hopefully she will be able to reassure them. Thank you so much for helping me through this.

They are aware of the quality of education that TAMU and UT offer and aren’t denying it. They just feel that at Rice, since it’s so selective, my hard work will have more merit and recognition. I’m interested in chemical engineering and I know UT has a great program for it. Also, it’s not really me they’re burdening with the debt, it’s them. But they expect me to pay some off.

Either way, you got into Rice. They can be happy with that. It just does not seem viable right now is all.

TAMU’s eng’g is better than Rice’s.

What do your parents mean by getting more recognition because the school is more selective?? Recognition by who? And what would be the result of that “recognition” (that supposedly would exist) ???

Have you asked them how much debt you’d be expected to pay back? WHOSE name would the debt be in???

Well, if your parents expect you to pay off some of the debt, then there’s your reason to say, “no”.

Your parents don’t have the income to take on even $120k of college debt, particularly with a child who has medical issues. When will the medical issues end?

The other issue is that after 2016 (and possibly in 2016) your package will be what it is now. Hopefully, you sibling will not need additional treatment. And if the insurance kicks back in you won’t get anything more. That means that at a very minimum, the last two years will be over $40K (unless your sibling will be in college, but I have heard that doesn’t change it by much).

I am sorry you can’t attend Rice due to finances, but you have some good options. UT Austin is a great school too.

Actually…when the sibling is in college at the same time…the family contribution for,this kid will drop quite a bit.

If the family contribution now is 40,000, the at Rice, with two in school…the family contribution will be 60% or so of that $40,000. Therefore…need based aid will rise.

But I woild NOT cont on that happening…as the student doesn’t know what the sibling will,be doing. Also, parent income could increase which would,change the numbers.