Brown University financial aid office calculated our family contributions for the 2018-2019 to be more than the previous year even though we made 40k less (earned income now 80k/year) and the fafsa is 1/3rd the value from the previous year. The financial aid award shows parent contribution to be 21% more this year. This makes no sense to us. Assets remained the same and our small business lost money two yeas in a row.
Last year we added an appeal and used the same 2016 tax year returns showing this decrease but were declined any additional aid. I spoke with a tax person and it was mentioned another student filed a similar appeal at another university and was granted additional aid. Our income is at its lowest this year, by 40k when compared to any other year, but this year the parent and student contributions are at its highest.
We love Brown University and recommend it to all. It is at the top. Another appeal was filed for this year and will continue to share this experience with you. Hope this helps.
What is your 2016 income? That is what Brown is looking at to determine your financial need.
Your 2017 income will be used for school year 2019-2020.
Your best bet would be to call Brown. There may be deductions/write offs//business expenses that brown added back in as income. Did you contribute to your retirement account? if yes, Brown will add that in as expenses.
Did your home equity increase?
Hi. Income is at its lowest. 80K for 2016. This is 40k lower than any other year. Fafsa EFC is 10k down from 30K last year. Yes I contributed to my retirement account and regarding an expense, this has been a similar amount as in previous years. If that makes sense.
Hi. Home value had a minor increase. maybe 5%
@MrAmerican15
Any chance you did an IRA or TSA rollover in 2018??
Thank you for the reply. No roll overs. That is what we don’t understand. My accountant and I went over this a million times. Perhaps I can understand the potential summer income from the student as a reason for that increase, but not the parent contribution.
The value of the home remained the same.
How much was the student income…AND how much was in the student account the day you filed your financial aid forms?
Was the FAFSA EFC higher as well? Or just the family contribution Brown calculated?
the EFC for last year was around 30k. With this fafsa it was around 10k. I can get the exact numbers. However that is what is perplexing. The EFC number was dramatically less this year as compared to last year and all other years. Yet the parent contribution is more this year than any other. I noted that in the appeal. If one goes off of the EFC than the parent contribution ought to be 1/3 from last year.
Thanks for asking.
The student income in 2016 compared to the previous year was nearly identical. I am guessing the student potential summer income as calculated by the university is increased because he is older and that too went up. I can understand that in a way but not the increase in parent contributions. If that makes sense.
I suspect that brown university is not allowing some of those deductions that suggest a business loss
So Brown has posted financial aid packages for returning students?
Did the family have another sibling in college for prior years but will not next year? That could easily trigger a significant increase in family contribution.
Did student assets as of the reporting date increase?
@3puppies I agree that if a student no longer has a sibling that this would increase the EFC…BUT this poster stated…their FAFSA EFC is $10,000 this year and was $30,000 last year…and their aid significantly decreased.
Makes me wonder if the mistake was on the Profile…which is what Brown would use to calculate need based institutional aid.
hi. for us, yes the financial aid package was posted
Hi. The student assets remained the same. No change
Good point about the sibling and there is no sibling.
Hi. The student income was nearly identical over the past years. No change and if so…very minimal. As far as what wa in the student account there was no change. Actually in the bank account, there was less. Thank you all for the valuable comments. I will keep you posted once the appeal is answered.
@MrAmerican15 From your post, it is obvious that you have some special circumstances and also have already had significant, personal, dealings with Brown’s financial aid office. My suggestion is that you speak directly with them and seek clarification/reconsideration. There is really very little anyone on this forum can do, especially as we do not know your FA history etc. Quickest way of resolving is to call Brown.