Cal Grants, SIR-ing, and FA appeals

<p>Hi, I just joined and I've been really confused about financial aid.</p>

<p>I was recently accepted to my first-choice school (Scripps College) which offers 100% need-based aid. I find the aid decent, just not ideal. Some of the UCs have given me ideal aid, including a Cal Grant.</p>

<p>I have a few questions:
- Is it okay to SIR at Scripps, and then continue to discuss financial aid with them? or would it be prudent to "hang other schools over their heads" so to speak, saying school X and Y have better aid? I'd still attend Scripps no matter what, though. I'm also terrified of missing the May 1 deadline...
- Why didn't Scripps give me a cal grant? I checked the Webgrants for Students thing, and it said that I should have gotten a Cal Grant. They do participate in the Cal Grant program, too... My EFC on the FAFSA is 0 since my family's income is in the negatives and I'm on the reduced lunch program.
- Should I appeal? I do not have any "new circumstances" so to speak, but I'd like to explain that while my family does have a lot of assets - we own two houses - my mother is widowed and does not work because her knee and poor English prevents it. My mother is willing to mortgage the second house (worth $700,000) to pay for college, but since she doesn't work, no one will lend to her. Hypothetically, we could also sell the second house, but the rent from the second house keeps us out of the debt hole and pays for our day-to-day living expenses. Without the second house, we'd quickly go broke. We already owe quite a bit of money on the house that we live in. My mom wants to borrow out of the second house, but no one would lend to her.</p>

<p>thank you very much! :)</p>

<p>(1) If you’re eligible for a Cal Grant, you’ll get it, even if it does not yet show up on your financial aid award. If you have a question about this, ask Scripps. Scripps has already given you institutional aid, however, so it’s possible that the Cal Grant would simply reduce the institutional aid - you should ask about this also.</p>

<p>(2) Sure, you can ask Scripps to increase your aid. Explain the situation and see what they say. Don’t know if you’ll be successful, but it can’t hurt to ask.</p>

<p>(3) Why would you wait until after May 1 to raise these questions? Sort out the financial aid issues now, and send in your enrollment deposit later. You have two week - use them to get your questions answered. You’ll still be able to enroll before the deadline.</p>

<p>I thought there was an asset ceiling for calgrant? I’m surprised a second (not primary home) house worth $700k wouldn’t disqualify eligibility for the calgrant. I thought the asset ceilings( for other than the primary home and retirement accounts) were in the $60-70k range.</p>

<p>

</p>

<p>Did your mom list the rental income as income on the FAFSA or as income on her taxes? I am surprised that the rental income with the second home as an asset gave you a 0 EFC.</p>

<p>Okay, I emailed them asking why I didn’t get a cal grant.</p>

<p>My FAFSA let me skip the asset questions, but I ended up listing assets on CSS. The income is in the negatives due to NOL - net operating loss. That’s for the FAFSA.</p>

<p>I also have a UTMA account worth around $30,000, listed it on the CSS, did that count against me by a lot?</p>

<p>My mom owes a lot on the primary home, but not a lot on the secondary home.</p>

<p>Scripps may consider the CSS Profile, but the California Student Aid Commission, which administers the Cal Grants, does not. So, like I said, if you are eligible for a Cal Grant, you’ll get it - but it may not show up on your award until after you’ve made a decision as to what school you’ll be attending.</p>

<p>However, the Cal Grant may also not make a darned bit of difference to your overall award from Scripps. If you’re awarded a $5k Cal Grant, for example, Scripps may just reduce your Scripps grant by the same amount. Net gain = zero.</p>

<p>Okay, so I found out… My house is worth $850,000+ and she owes about $300,000 on it. She doesn’t owe any money for second house, which is worth $700,000. No wonder we’re not getting a lot of financial aid. </p>

<p>That being said, are my reasons substantial enough to attempt to appeal?</p>

<p>probably not especially when you have $1.2 million in equity between the 2 houses. I agree with Dodgersmom that any money given to you by cal grant, will just reduce Scripp’s institutional aid leaving your EFC unchanged.</p>

<p>Hey all,
I did end up appealing my financial aid and was told no. Regardless I’m going to be hitting up outside scholarships and looking at loans because it’s my dream school. My mother and I have agreed to figure it out; she really wants me to go to this school.</p>

<p>Thanks so much for all your help!</p>

<p>Good luck - I hope you can get it all to work out!!! :)</p>

<p>SIR-ed at Scripps yesterday! :D</p>

<p>Congratulations!!!</p>