Advice? Weird situation...

Colleges and Universities A-Z Yale University
1

<p>I need help. The guidance department at my school is clueless about these sorts of things, so I'm at a complete loss of what to do. Any advice you can give would be incredibly appreciated : )</p>

<p>I was accepted to Yale (as well as a couple other Ivies, JHU and Chicago), but received no financial aid whatsoever from any school. My mom lost her job one year ago -- forced withdrawal from a big 4 accounting firm. They gave her a severance, which after lawyer fees and taxes, has just barely supported us to today. She was the primary source of income and has not been able to find a job (they're not exactly hiring in the financial industry right now).</p>

<p>My Dad also has a job, luckily, and he makes just above $100k. His income alone is not enough to make our mortgage payments. We bought our house at the peak of the market, made some renovations, and now it's worth even less than what we paid for it before the improvements. It's not a mansion or anything; just an old house that needed repairs. As a result of its low current value, we've been unable to refinance the mortgage (after trying 4 times). I also have an older brother who has one more year at Oberlin.</p>

<p>Because of the severance package, our income for 2008-2009 looked huge, and so that's why I think we were denied aid (even though my Dad wrote a letter to each college explaining our situation). But we don't have anything close that much money now. There's no way we can afford to spend half our total income to send me to college.</p>

<p>I was also accepted to two good SUNY schools, and we can afford one year's tuition there with my entire 529 account. The SUNYs are great institutions, and it'd be a fine experience to go there. Of course, it's just hard getting excited about them when you have acceptances from Ivies, you know?</p>

<p>Yale is my first choice, and as a last chance, I'd like to appeal my financial aid decision. Has anybody successfully appealed their aid decision? Does anyone have some advice on how I should approach the aid offices, given our situation?</p>

<p>Thanks in advance. Sorry to take up your time -- I don't mean to look for pity, and I know not being able to afford college is a pretty common thing. And at the very least, if I can't go, I know it'll bring other deserving people off the waiting list : )</p>

2

<p>solar, you should contacted Yale’s finaid office to discuss this. Do you live close enough to make an appointment and sit down with someone there? Now that you’ve been accepted, Yale will be motivated to help you figure this out. That’s not to say they can make this painless, but they will certainly be willing to review the numbers with your family. It would be easiest to look at the papers in person with your parents present, but this can also be accomplished over the phone. Best wishes.</p>

3

<p>Echoing riverrunner’s advice, Solar: phone the school. The circumstances you describe would show up much more clearly on the CSS profile, which Yale requires, than on the FAFSA. Not much fun filling out all that paperwork but it does make a difference. Call Yale and talk with Financial Aid.</p>

4

<p>Yes, I concur with the advice you have been getting. My own financial situation changed from January 2010 (and thus was not reflected in our 2009 taxes) but I called the financial aid office and explained the situation and they just told me to submit all papers supporting the new situation and they would take it into account when awarding financial aid to my daughter. The CSS profile gives you chance to explain any unusual circumstances at the very end and additional support for your position can be sent directly to their office. </p>

<p>I found them very willing to fairly examine any situation if documentation is there and is clear. I know it helped that I personally spoke to them over the phone to explain any lingering questions my paperwork did not cover. </p>

<p>Also, just thinking, might you ever consider deferring your acceptance until next year? Maybe with work and time for your mom to find a job. . . at the very least your next year’s income will be much less. Hard decision, I know</p>

<p>Good luck to you :)</p>

5

<p>I called, and the person who answered just sent me along the appeal form and said they couldn’t discuss anything until we sent it in. My Dad and I are filling it out tonight, and I’m writing a personal letter to supplement it. We’re going to overnight everything. The office said we should hear back in a week, but hopefully we’re going to make a trip down later this week anyway to discuss our case. Finger’s crossed it makes a difference!</p>

<p>@alohamom: did they change your award when you sent in the new information? And yes, we are considering that I take a year off. I could work, my older brother would be out of college, and my mom would hopefully have a job too. I just don’t know if I’d be ready to do that; it’s a pretty rare thing where I’m from. I guess what it comes down to is whether going to Yale a year late would be that much better than just going to my state school, you know?</p>

<p>thanks again for the tips, everyone - they were very helpful : )</p>

6

<p>Good luck Solar - you seem incredibly mature dealing with this situation, all the best to you!</p>

7

<p>It seems you are doing all that you can right now. Just submit all documentation and any explanation that might be needed. After that it will be in their hands.</p>

<p>I do not yet know our finaid award; continuing students won’t know until the beginning of next month. I can say, however, that I am confident our current (2010) situation will be taken into consideration (though I honestly have no clue how that will affect any eventual award). If I had not clearly explained and documented it, Yale would have had no way to know that our finances had changed and would have based any award solely on 2009 information. </p>

<p>if you are considering a “gap year” for whatever reason, please know they are more and more common and I personally know many ivy students that took a year off before matriculating. Some worked, some climbed the Andes, but whatever the reason they joined their respective schools the following year with absolutely no regrets. It may be rare where you are from, but for some, it can be (and is) a very wise decision. Something to think about.</p>

<p>Finally you ask “. . .whether going to Yale a year late would be that much better than just going to my state school, you know?” I can send you to many threads where discussion centers around Yale v. “other schools” (state schools included) and you can get a good sense of what people think of a Yale education. No one can answer that for you, but I can say in a heartbeat that going to Yale was the best decision D ever made. Students leave with so much more than a college education; they are committed, passionate people who will truly make a difference in the world no matter their chosen profession. </p>

<p>I am certainly keeping my fingers crossed for you and the decisions you will make. Keep us posted!</p>

8

<p>Bear with me on this one:</p>

<p>How has no one mentioned student loans? I know it’s less than ideal, but it’s not an uncommon course of action. POTUS and FLOTUS (I use those acronyms whenever I can) finished paying off their law school loans not too long ago.</p>

<p>Of course, you should pursue financial aid. But if that doesn’t work, or leaves you coming up short, student loans are pretty standard. I’d exchange student loans for Yale any day of the week/month of the year/etc, especially given your situation where your financial aid has come up short everywhere.</p>

<p>Just make sure you aim for a profession that allows you to pay your loans back without too much difficulty. Hope this doesn’t sound cruel, but you’re not not the only one accepted to Yale in the aid-package-coming-up-way-short position, and many of them will be taking out loans to pay for school.</p>

9

<p>thanks for the great points, alohamom - I’ll definitely keep them in mind and let you guys know what ends up happening!</p>

<p>@UChicagoGrad: Thanks for the advice, and I’m well aware that my situation is anything but ordinary. That’s why I mentioned: “I don’t mean to look for pity, and I know not being able to afford college is a pretty common thing.”</p>

<p>I just have a couple issues with student loans. First, I’d have to take out over $35,000 per year in loans for Yale, so I would graduate with over $140,000 in debt. I intend to get my PhD afterward, and I don’t think it’d be the smartest decision to have that much debt before even stepping foot into graduate school. Second, I’m not planning on being a Wall Street exec – I want to work in the U.N. or with not-for-profits. I’m not confident those salaries would comfortably pay off my then massive student debt. Finally, both my parents are near retirement age, and I still have a younger brother who needs to go through college. Asking my parents to take out any loans on my behalf wouldn’t be fair to their future or to my younger brother’s.</p>

<p>But thanks for the tip anyway. Loans may be right for some students, but just not in my case.</p>