<p>My D got admitted to CMU under early decision, in CIT ECE.
I am hearing CMU is stingy with their aid process, and their merit scholarships.
Here is my family situation:
*Don't own home
*Live in rented apartment in san francisco bay area with high rents.
*Don't have any real estates
*Have cash in back kept aside to buy home
*single earner family
*company stock gains this year, so AGI will be high for 2013
*I have a son, who would be ready for college soon after my daughter is done with graduation.
*Live in San francisco area, single earner family, living in an apartment for rent.
* My D got admissions to Umich(cs), UIUC(cs), Purdue(ce) so far, waiting for others.</p>
<p>Please advise, I don't want to spend all my money that I saved for home.
I am also worried if I continue to earn that level to keep aside for my son in addition.</p>
<p>What would be the best way to negotiate the aid & scholarship with CMU.</p>
<p>The only way to negotiate financial aid is with an better offer from a peer school. Since CMU is private I’m not sure they would consider any of those other schools peers, not to mention they are all out of state for you so chances are they cost the same.</p>
<p>CMU guarantees to meet full need for ED admittess, but like most all schools that make such guarantees, it defines need itself. They are upfront about the way they do things and would have done a preread for you, had you asked. Did your daughter get a financial aid package from CMU with the acceptance? Did you turn in all of the financial aid paperwork according to directions for ED? </p>
<p>IMO, those who need to compare offers should not apply ED, and if you want to get the best financial aid deal, that is what one generally has to do. Schools are not going to take into account what you prefer to do with your money, saving it for a home, needing it for your son, high rents. </p>
<p>You have a given amount of time to accept CMU’s offer. You can discuss the package with them and see if there is anymore they can give you, but with ED, they say it’s their best shot for such students, so it’s likely to be a take it or leave it situation. Have you gotten other packages yet? With ED, there will likely be no extension to compare packages as that is one of the things you give up in exchange for your student getting extra consideration for admissions and a better than usual CMU financial aid packages. Hopefully, your package is doable. IF not, your DD is fortunate in that she knows she has other choices, and hopefully one of those schools offeres up enough money to make it doable.</p>
<p>Congratulations to your daughter for all of her acceptances, and good luck in getting a deal that is doable at her first choice school.</p>