Apply ED from low income family?

Colleges and Universities A-Z Duke University
1

<p>Hello all,
I've been considering applying to Duke early decision, but I have a few concerns. After researching this issue on this site, it seems that it is a bad idea to apply early decision if you cannot definitely pay for the college. </p>

<p>However, my family falls under a low income bracket (~30k) with no significant assets, and according to Duke's website, Duke has "eliminated loans for families with institutionally determined incomes less than $40,000". </p>

<p>In addition, Duke says that it has
"eliminated the parental contribution for families with institutionally determined incomes less than $60,000"</p>

<p>I take this to mean that my EFC would be equal to 0? However,
"For families with total incomes of less than $60,000, the parent contribution is waived. This means the expected family contribution is equal to the student contribution each year." </p>

<p>What does this mean? Does it mean that my EFC will be 0 or 2100 (which is the student contribution)? </p>

<p>I am very confused about this matter and am wondering if anyone can help clear this up. Any information would be very helpful. Thanks in advance!</p>

2

<p>Hey ferretgt350!</p>

<p>I was in your situation last year, my family’s income bracket is right around $30k and I was trying to figure out what to do when I was applying. In the end, I decided to apply, I got in, I am attending in the fall, and I can try to shed some light based on my own situation.</p>

<p>First off, don’t let finances stop you from applying ED if you really have a drive and passion to attend Duke. The financial aid department is fantastic and willing to communicate with you in order to work everything out. When I was accepted in December, there was a discrepancy in my aid package because they thought my family made more than we really did based on taxes, but we eventually got it sorted out and the one loan they had included was removed (though that re-adjustment can only be made once, but my situation was unusual, you shouldn’t NEED that one grace period). </p>

<p>Now, since your income bracket is right around $30k, assuming no major changes are made next year or anything to the process by which they figure out financial aid, you will NOT have loans in your package. You will have a work-study amount factored in, usually $2,000 a year. Also, you will have an EFC of $2100, which is purely the student contribution (what they expect you to raise the summer before college, but they won’t check to make sure YOU raised it, it your parents end up contributing to that.) Now, with that said, I have not yet had to worry about the $2100 because all of my required expenses for the upcoming semester was covered by my grants from Duke except for maybe $100 or so. That $2,100 will more than likely end up being my personal expenses garnered over the course of the next few weeks and months (i.e. books, eating off campus, clothes, school supplies, dorm stuff, etc). Most likely, since you are in the tax bracket that you are in and your family has no significant assets, your grants (both Pell and Duke Need-Based) will cover costs they expect you to pay before you come in August.</p>

<p>If you have any questions based on your individual situation, I encourage you to contact one of the Duke Financial Aid counselors. They are super nice and helpful!</p>

<p>Hope that helped! :)</p>

3

<p>Here’s the Common Application rule:

</p>

<p><a href=“https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf[/url]”>https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf&lt;/a&gt;&lt;/p&gt;

<p>So if a school doesn’t offer enough you aid to support attendance, you say thanks but no thanks, and apply elsewhere RD. But ED should be used only at your by far number one choice, when you don’t care about comparing FA offers, where your only question is “Can I afford it?”</p>

4

<p>Ya, the best way is to compare financial aid/academic scholarships through RD, but if you apply ED and the financial aid is far off from what you need you can opt out.</p>

5

<p>I think the only way out is if there is a huge discrepancy, so it might (and probably will be best) to wait and compare FA and merit money.</p>

6

<p>No, the amount doesn’t matter; read the rule. But do apply ED only if you don’t care about comparing packages, when your only question for your dream school is: Can I afford it?</p>