Asking a school for more aid?

Parents Forum
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<p>I know that there is a thread for this already created over in the Financial Aid section, but I wanted to post in the Parents section to hopefully get a personalized view/suggestions on my situation.</p>

<p>I'm going through the same situation of going to ask the schools I got accepted to for more aid. </p>

<p>My financial aid stats are:
FAFSA EFC: $2,000~</p>

<p>School A:
COA: $53,000~
Aid given (including state and federal): $41,000
Loans: about $5,000
EFC: $7,000
*Not going to take a loan so EFC would be $12,000.</p>

<p>School B:
COA: $53,000~
Aid given (include state and federal): $45,000
Loans: about $8,000
EFC: $400
*Not going to take a loan so EFC would $8,400.</p>

<p>Goal
-Because of the FAFSA EFC, at my safety school (CUNY), we would only pay $2,000 instead of the $5,000+ that is regular tuition at CUNY.</p>

<p>-I want to ask the schools (through a letter) if they are willing to fill in the gap with grants (or more need-based aid) up to the $2,000 (or less) mark. That way my parent (one parent is paying for college) can still pay for school, but at the same price of what we would pay at CUNY.</p>

<p>-My parents (both mother and father) are worried about tuition rates getting higher. I've taken this into account, and with asking for the $2,000 EFC, hopefully by the end of my senior year at these schools, my parents would only have to pay $5,000 or less of my last year.</p>

<p>This is the math I figured out:
-If tuition rises at $1,000 per year </p>

<p>EFC:
1st year: $2,000
2nd year: $3,000
3rd year: $4,000
4th year: $5,000</p>

<p>I've tried to tell this plan to my parents, and so far Dad is on board with the plan, but Mom is a different story. The difficult story.</p>

<p>My guidance counselor suggested that I have my parents speak to the financial aid offices, and visit the campus before I send out a letter, just to make sure that I'm solid in my choices before going any further.</p>

<p>She also suggested that calling up the school, and asking if a student doesn't attend, that if a portion of their financial aid package can go towards me. </p>

<p>Any tips?</p>

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<p>Don;t approach any school unless you are SURE you would attend if they gave you more aid. In my book, that would be unethical. Don’t cite CUNY - they will think it insulting that you are comparing costs with CUNY. </p>

<p>You should know they don’t care in the least that only one parent is paying for school. They don’t think they need to mess with your family arrangements. FASFA is based on both parents - and that won;t change (and I think that makes good sense).</p>

<p>And your guidance counselor is correct: don;t even begin to ask for a review until you are sure you want to attend.</p>

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<p>Are both of these schools FAFSA only schools, or did you have to also submit the CSS/Profile to them? That makes a difference, because they take more into account to arrive at an EFC than what is considered with the FAFSA. For financial aid, you can only expect schools to compare themselves to peer schools, so comparing to CUNY might not mean much to these other schools. Why do you not want to take out loans? To take the minimal amount is not terrible, will be your responsibility to pay back and may teach you good financial management skills from the get-go. I had loans to pay back, did so every month for 7 years, and I think it was a great first lesson in managing debt, building good credit, and may have even helped me qualify for my first home fairly young. Not all debt is a bad thing, if you manage it and show worthiness. I think it is always worth asking about the fin. aid, and if the school can’t come through for you, then you take the best offer. I don’t think it is unethical - and if you aren’t going to attend the school due to their low offer, then that’s that. Is it unethical to compare the price of two cars you are thinking of buying, and the deal each dealership is willing to offer? No. Why should “buying” your education be any different. I wouldn’t try to make the schools compete though…just get the info you need so that you completely understand the financial commitment you would be making at each school for 4 years, and make the choice that works for your family the best. Neither one may be exactly what you hoped for, but one will probably be better than the other in some way.</p>

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<p>@mini:
I would be honored to attend either school, but financial aid is the deciding factor right now. I am going to visit both schools, however, before I go the extra mile. And on FAFSA, we only listed one parent because I live with that parent (the same parent who will be paying).</p>

<p>@teachandmom:
These schools are both CSS/Profile. I hope to go to medical school, so loans are really ill advised in my situation.</p>

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<p>It will be a miracle if you get away without any loans, but go for it, and see how you make out.</p>

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<p>It would be a miracle, lol. <em>prays</em></p>

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<p>hey, ya never know …i believe in miracles!</p>

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<p>Keep in mind that the only thing the FAFSA does is qualify you for federal aid (Pell grants, loans, federal work study, AGC, etc). The schools that you have been accepted to use the CSS profile to distribute their own funds. It looks like your loans are a combination of sub and unsubsidized stafford loans (up to $5500) and perhaps a Perkins loan or some other school based loan. Interest on the subsidized stafford and Perkins loans are paid by the government while you are in school.</p>

<p>IMHO, I think you have 2 excellent financial aid packages from St Lawrence and Hobart and William Smith since neither school guarantees to meet 100% of your demonstrated need.</p>

<p>Whether you want to believe it or not, loans are considered financial aid. You have been minimally given subsidized loans as part of your financial aid package. While you may choose not to take the loans, school are not going to give you additional grant aid in place of those loans, just because you do not want debt. </p>

<p>Is there a reason why you are appealing your package? Is there something that the school has not taken into consideration? Have you had a change of life situation since filing for financial aid that you did not disclose to the school (primary wage earner lost job, unreimbursed medical expenses, another sibling in undergrad, caring for an elderly parent or special needs child)? The fact that you do not want to pay more for these schools than you would for CUNY is not going to net you more money (your parents are actually paying less for you to attend school b than they would for you to attend CUNY). </p>

<p>If they put the additional 1600 that they now do not have to pay for CUNY and apply it to your loans, you would only be taking out $6800 instead of 8400, which is not a fate worth than death for a school with a 53k price tag.</p>

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<p>@sybbie719:</p>

<p>It will only be <em>one</em> parent paying for my college education. That same parent already pays for my private high school tuition at $8,000 (previously used to be $7,000~, but inflation costs forced it higher). I know the argument will come that my parents made a choice of sending me to private school, where I could have gotten the same education at a public school, but the answer to that argument is unique to every family.</p>

<p>I don’t think that CSS Profile took into account that the same parent whom is paying for my college education (and as before has paid for my education since Pre-Kindergarten) the way that parent’s savings are used. I even listed how in the “Special Circumstances” section of the CSS/Profile (but my guess is that it didn’t carry much weight). With all due respect, I don’t wish to go further on that specific subject publicly, but if you wish to inquire more, please PM me.</p>

<p>I have been applying for outside scholarships, but so far no avail in me getting any acceptances.</p>

<p>I don’t want to add financial stress on my family, and if in the end, going to these schools will do so, I will immediately decide on a CUNY.</p>

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<p>Good luck! </p>

<p>I think you have 2 hurdles: 1- I don’t think you are going to get the school to agree to give you more grant money to replace your loans while other kids take out loans unless they really, really want you. and 2- I think you’re going to have a hard time convincing a school that your parents could pay $8K for private high school but can’t pay that for college.</p>

<p>Why don’t you think the Profile took the parent who paid for your college into account? Did they require non-custodial? (Not trying to pry, just trying to understand)</p>

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<p>Here is my opinion…do the federal awards at the schools above include the Stafford Loan? If not, I would suggest you consider taking out the Stafford Loan. Those are loans in your name and the freshman loan is $5500. The total for four years is about $27K. I don’t think these schools give you additional money when you won’t even consider taking out a loan in your name to help yourself. But that is my opinion…and I’m talking about the Stafford or Perkins loans ONLY…not additional loans on top of those.</p>

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<p>Rosary, Keep in mind that your parents are first in line when it comes to paying for your education. When you receive need based grants and scholarships from schools, it usually comes through the generosity of other people’s parents. To say that your parents have paid $7000 a year since kindergarten for your education is essentially saying, your parents have paid enough, let someone else’s parents pay for me to attend school.</p>

<p>If your parent shift that same 7k that they just paid this year, to college it will be a wash. As a matter of fact, your EFC of 7k is exactly the same money that School A is asking for them to pay. They are not paying any additional monies for you to attend.</p>

<p>As I stated, for school B, they have an EFC of $400, which means they will be paying $6600 less for you to attend this school than what they are currently paying now. Again, if they applied balance of that 6600 to your school loans, you would only be carrying a debt of $1400.</p>

<p>Your taking out stafford loans as part of your finanical aid package is just you being an active participant in the funding of ** your education**.</p>

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<p>

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<p>I didn’t think about asking for increased aid from that viewpoint before. I just kept thinking of the school’s endowment for aid, and asking for portions of a non-attending student’s aid. Now that opens my eyes even more to the realistic side of all this.</p>

<p>

</p>

<p>From what I know, the loans are listed as (forgive me, I don’t have the paper in front of me to give you the exact names of each loan): </p>

<p>1) $3,500
2) $2,500
3) $2,000</p>

<p>And that’s the exhausted amount according to federal guidelines. Now, I know that this will only increase as the following undergrad years approach. And from my understanding and search, I don’t see much scholarships for students currently in their undergrad studies.</p>

<p><em>sighs</em> With all this, I honestly think the more feasible method for me would be to stay home and attend a CUNY. Maybe after 3.5 years (because I will find every method known to God and man to graduate from there early if I attend CUNY), I’ll try again with venturing away from home for med/grad school.</p>

<p>For everyone inquiring why I’m so fearful to take on loans, well, I don’t want that type of pressure on me when I leave school. My parents wanted me to attend a CUNY for this reason (and other reasons overprotective parents have). One of my parents (the non-custodial) had to take out so much loans for school, and they finished to pay it off last year after about 10+ years since graduating. That same parent is especially AGAINST me even discussing me receiving a loan. </p>

<p>But until May 1st, I guess I’ll keep trying to weigh my options. </p>

<p>Thank you to everyone who replied, and if anyone else has more advice/suggestions, please do not hesitate to share them with me.</p>

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<p>You have applied to 2 schools that do not guarantee to meet 100% demonstrated need. Despite that they gave you a full need package. Unfortunately, loans are considered financial aid. Schools also practice enrollment management meaning they already know how many seats they need to offer in order to yield the class size that they need. In short this means they already know that everyone is not taking their offer when they put out a package. There will probably not be a whole lot of “unused money by people who decide not to attend.”</p>

<p>With all of the budget cuts taking place at CUNY, I would not bank on graduating in 3.5 years. I just did a lesson with my junior seminar class about the dismal overall graduation rates for minority students and how few students actually graduate in 4 years when it comes to CUNY. As I stated previously, if your family just shifted the monies that they are paying for private school it would essentially be a wash. Your parents could also help you pay down the stafford loans while you are in school.</p>

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<p>@Everyone:</p>

<p>Thanks for all the replies, everyone! I’m preparing to do a visit in the next two weeks with these schools, and will bring my appeal to them while there.</p>

<p>@Sybbie719:</p>

<p>If it’s alright with you, I want to send you a PM.</p>