<p>I received $27k in need-based grant aid this year. But, after an unexpected $29k income bonus at the end of 2011 from dad, my school cut back the grant to only $11k with $1k in work study. Being right in the middle, of course the bonus pushed up our family's combined household income to being taxed into ruins. This was depressingly disappointing. </p>
<p>Especially b/c our CSS Profile '11-'12 expenses are high: lot of medical bills which insurance barely covered; natural causes from terrible weather demolished many of our neighbors' houses, including our own, which insurance covered half -still a lot of $ though; and, dear old undeserving brother is starting med school this fall which my parents, being horrendously lovely, generous, and too kind for their own good, are paying 100% of on TOP of all his undergrad loans. Yeah, I know -a little bit of sibling rivalry here... I put all these in my CSS Profile application to explain how the bonus really didn't help our financial situation.</p>
<p>I will have to rely on demonstrating phenomenal all around incredibleness to apply for merit scholarship later on open to sophomore-seniors. Freshmen merit aid is awarded to 5-7 freshmen every year covering either 1/2 tuition or full tuition. I am the 99%! GPA wise (: so I didn't win them. </p>
<p>Spending the next 3-4 years feeling like I owe anyone anything will kill me from guilt, esp if it's owing $200k+. I will toss and turn in my dorm room every night. Advice? How do schools determine need based aid? a $30k bonus cut my aid by $16k! And explaining all the expenses in CSS Profile clearly didn't help much. How should I appeal?</p>
<p>The cold, hard fact is that the school saw that bonus money and decided that was available to pay your college costs.</p>
<p>It would seem to me that some of the expenses you mention (but not your parents’ decision to support your brother) would have an impact. Have you appealed your award?</p>
<p>If there is no resolution, you should find another, cheaper school to transfer to. No school is worth six figures in debt.</p>
<p>I’m still trying to fathom why you feel you are entitled to any aid at all. Clearly, if your parents can afford to put your brother through medical school, they can afford to pay your undergraduate expenses. That they chose to spend their money on your brother’s education, leaving them with little left over to pay for yours was a decision, not a hardship.</p>
<p>And your father earned an extra $29,000 last year . . . why would you expect that this money shouldn’t be spent on your college expenses?</p>
<p>I understand that your family has been through some rough times . . . but your family income appears to be substantial. If you now have $29,000 “extra” then it’s perfectly reasonable for your college to expect a significant portion of that to be put towards your expenses. Did your really expect to be able to pocket that money and have the school continue to pay your bills for you?</p>
<p>dodgersmom, believe me if we could have “pocketed that money” I would be drunk with relief. Do you file your taxes, or pay an accountant to do it for you? I learned accounting early on and worked at an accounting firm all four years in high school so I have a basic sense when I saw my parents tax returns. those forms were an ugly sight :D.The bonus pushed their combined income to a new income bracket with significantly higher taxes that essentially took out almost half the bonus. Coupled with the incurred expenses this year mentioned above leaves, um, “no” bonus. Maybe you didn’t pick up on my post, but my parents Cannot afford to put my brother through med school. Because he asked them for their help, they generously did. My old, ancient and calcium-deficient brittle old parents will probably die sending me to school and being Mother Teresas of the educational loans world, $0 in retirement and dealing with private loan companies. Filling out the CSS…well, not even a measly $100 in retirement funds. This haunts me! </p>
<p>This is the primary reason I had to forego attending a 4 year university and went to a CC for 2 years. They are also helping my cousins with their summer abroad programs in London too. not listed in FAFSA/CSS since they are not immediate household. No one is perfect and consequently parents’ decisions impact their children’s educations…like mine -I don’t know if my extended family is just greedy, or if my parents are just too generous that they are willing to forego any happiness in old age just to take on hardship to help us kids out. If you’d like to continue, I’d love to hear how you would approach this situation under the same firmness you used in response of your opinion of my post.</p>
<p>so, on paper there seems to be “extra” but there really isn’t. I am relying and crossing fingers on the original aid offered to me. I don’t feel entitlement, only privilege, especially so after being at a CC; a privilege that was drastically reduced due to an interpretation of funds. </p>
<p>Nevertheless, after studying the appeals section of the school’s site, it’s clear that students can reasonably appeal when there is a significant loss of income. I hope to hear others’ experiences about approaching a circumstance to receive the very original aid offered to me after a change in combined income that is, realistically and understandably, (mis)interpreted as a gain on paper, and evaluated as a reduction in need based aid. Thank you annasdad for mentioning appeals and transferring. I did e-mail a finaid officer, who curtly pointed out the bonus and explained “…so your financial aid award has been drastically reduced.” So, how do I get one foot in the door of appeals without a quick glance, a scoff, and a toss in the trash (how do I convince a dodgersmom-esque appeals officer after they’ve cut my aid)? Will a stack of expense receipts be of any help?</p>
<p>Pretentiously, the problem is that what your parents are doing with their money is a CHOICE. I understand that it is frustrating, I am in the same position. But a financial aid officer is not going to understand. Your parents have chosen to allocate money to med school and your cousins. That is their choice, but in the eyes of a financial aid officer, it is really no different than spending it on a new car. </p>
<p>Do NOT come out of school with 200k in loans. I don’t understand - if you live at home, go to CC, and work for 2 years, you should have minimal debt. Afterward, transfer to a state university and work while finishing your degree. That should leave you with less than 50k.</p>
<p>By all means, certainly appeal. You might get something. And if you can’t, TRANSFER. Do not leave yourself with hundreds of thousands in loans. It’s not worth it.</p>
<p>Your family received an extra $29k. You should be able to afford the extra $16k the school wants and still have “extra” money in the budget relative to last year-- unless your new tax bracket means you owe 13k MORE in taxes than you did last year. At an additional 13k in taxes you still break even relative to last year.</p>
<p>I get it . . . the money from that bonus got eaten up by taxes, medical bills and the cost of rebuilding your home. I do understand that, and it sucks.</p>
<p>And I apologize for my Grinch-like attitude . . . but it’s based in reality. Schools are not in the habit of subsidizing families’ extravagant lifestyles . . . and it doesn’t matter if the extravagance is a luxury vacation home, private school for younger siblings or, as in your case, gifts to greedy relatives.</p>
<p>But, as alwaysleah pointed out (and as I tried to point out above), your parents made the decision to spend instead of save. They could have put money away for retirement . . . and, both generously and foolishly, chose not to. They gave their money to people who needed (or at least wanted) it . . . leaving nothing for themselves or for you. So, it kinda sucks to be you . . . but you also had the privilege of being raised by these generous people, and that’s not such a bad thing. There are plenty of CC’ers who have no money for college because their affluent parents simply refuse to share their wealth with anyone - including their own kids! So, compare your situation to theirs and realize that even though you may not have the money you need for college, you still got a pretty good deal in life.</p>
<p>You can certainly appeal, and I hope you prevail. Given the emergency expenses your household has incurred over the last year, it sounds like you’ve got a good case. You are also one of the very few teenagers I’ve encountered on CC who’s got the financial acumen to know how to present and document your appeal. (Kudos on that, by the way - I wish I’d had you handling my finances when I was younger!)</p>
<p>There was extra $29K of it. You can put in for a special appeal for any unreimbursed medical expenses directly to the school For catastrophic situations, some recognition might be made for those. But what do you expect the schools to do when a family gets a raise, a bonus, a second job? Ignore the income? You are one of many students going through the process, and yes, additional income is expected to go to tuition.</p>
<p>It’s your parents; money and they can do what they please with it. It’s their business that they are supporting other family members, paying your brother’s medical school bills, paying for your college, for that matter. THough it does affect you, it’s none of your business.</p>
<p>Venting and complaining are fine. I’m not having a great start to the sumer/end of spring myself. Just put the car in for yet more repairs. one of my kids needed a wisdom tooth removed, and might as well get another extracted which is not in good postion, family member seriously ill, and we did as we do when someone we care is in trouble. My bank account is at rock bottom and maybe below with next year’s school payment ready to start. I give you a lot credit about your concern and involvement in the financials of your family. DS in college wants to go into accounting and though he is great with his own finances, is more typical about the state of the family’s. </p>
<p>If the money is more trouble than it’s worth, your dad can turn down any bonuses or extra money. It’s the bottom line that counts, and I suspect that it’s the disappointment of seeing an award coming to you, then revised due to the unanticipated bonus that stings. It’s natural to feel cheated when that happens. Dashed hopes are particularly painful. But please take it all in perspective.</p>
<p>If this is a one time thing, ask for deferred enrollment and take a year off. That will give you time to make some money of your own to help pay for college, re-think your college application list so you find truly affordable schools, and learn basic construction skills as you help your family (and neighbors) rebuild their homes. We totally get it that you have suffered an unexpected financial reversal. But that reversal is not life-threatening. You still have many good options if you will give yourself the time to seek them out.</p>
<p>Not to mention the OP’s good fortune compared to those CC’ers (and myriad others) who have not had the privileges of an upper middle class upbringing with all the privileges that entails - and who struggle to pay for college not because their parents are grinches or made bad decisions but because there is no money in the pot. (Yes, I know that some of these kids get a lot of aid - but I’m talking about the huge majority, who do not.)</p>
<p>Here is my rant: it is always a choice to take extra money. If you don’t want it because it causes more of a deficit than it gives, don’t take the money. I read and hear this all of the time of how it’s better for those who make or have less money. Well, that is a problem that is very easily fixable. Give away your money, quit the job. Then you can take your chances with the financial lottery like all of those low EFC students that you so envy. </p>
<p>I get it. It does hurt. I have a friend who pulled her DD from college for a year and delayed another kid’s college a year due to a huge payout her DH got from retirement that he wanted to parlay directly into a business opportunity to support the family for the rest of his working life. No way the colleges could ignore that payout, so they sat out a year, and got great aid the next year when the income was so small due to the start up business.But they paid for it in time sitting out… It’s only right as very few of us get payouts like that, and to give that a pass makes no sense. Other than windfalls directly attriubuted to suffered loss, true catastrophes, yes, it’s going to be so counted for college. Even with catastrophes, they have to be so recognized by the school.</p>
<p>but my parents Cannot afford to put my brother through med school. Because he asked them for their help, they generously did</p>
<p>Ummmm…if they are paying for it, then THEY’VE decided that they can afford to do it.</p>
<p>The bigger question is WHY do they feel the need to fund HIS education, but not YOURS? That is the odd thing. WHY are they favoring him over you. He could EASILY take out med school loans, since he’ll be earning enough to pay them back.</p>
<p>Have you asked your parents WHY they are paying for your brother’s med school but not YOUR undergrad??? Why isn’t it YOUR TURN??? And, when is YOUR TURN???</p>
<p>Have you annoyed your family with lowish grades or bad behavior? Are you a girl and your parents are old-fashioned and think “the son” needs to be educated, yet the D doens’t? Something odd is going on here…what is it?</p>
<p>If your dad had NOT received the bonus, whatever expenses they spent it on (medical bills, the house) over and above the tax bill would have had to be spent from some other pool of money (borrowed, credit cards, etc.). They used the bonus on those expenses, not anticipating your situation, now they should use the other pool of money for YOU. In reality they would be in no better or no worse situation for having got a bonus, which pretty much sucks, but that’s how it is with money sometimes.</p>
<p>The most you can do is try to appeal, but as others have pointed out, funding your brother’s education and that of assorted cousins is THEIR choice.</p>
<p>Sylvan, the pool of $ you are talking about that was originally reserved for me must now increase in order to pay for the increase in EFC due to the re-evaluation of my fin aid.</p>
<p>To clear the confusion on why cc for 2 years isn’t summing up to save costs -school accepted most transfer credits compared to all other schools that offered me admissions but this was only 30-something quarter units. To translate, this barely scrapes up more than 1/2 a year’s worth of coursework. They are doubtful that the cc level of education isn’t up to par to a university education like theirs and instructed that I am mus re-take courses, despite completion with As and Bs, thus the 3-4 years and $200k.</p>
<p>Browsing on the cc board, I understand there are a lot of families with a lot of hardship. I could suppose the special circumstances portion of the CSS Profile led me to have the hope and belief that many of us rely on, that a student like myself could try to explain how an increase in income for this year alone was a set back. I don’t see most others’ tax forms, so I couldn’t say how my situation could possibly compare to those of others. Thanks dodgersmom, for giving me a sliver of hope and the reality of my appeals case. </p>
<p>my main point was to point out that the bonus was offset to the point where my aid was cut and that the financial aid office interpreted that we had extra, when it -if my brother and cousins expenses are left out -still ultimately depletes my parents’ combined income while having to scrape last minute $ to pay for the increased EFC. My father did try to refuse the bonus and when that didn’t work out, he also tried to hold it off for next year, he tried. A refusal is complicated and is not always about the money -some of you may understand why.</p>
<p>Everyone’s situations are different, and it’s not possible to sum up anyone’s case on paper with a few numbers. If anyone is going to take away anything from this thread, I hope other parents who have a change in income will take my post into account. I’m going to go spend some time with a calculator now (:</p>
<p>Pretentiously, what state are you in? You sound very misinformed about CCs. Perhaps private colleges won’t let you transfer units, but publics certainly will. And public schools DON’T cost 50k in ANY state. It would be a very bad decision to go to a private school right now and I’m curious as to how you would justify it. No name is worth 200k in debt. Do the calculations and look at what your monthly payments will look like for the next 20 years.</p>
<p>What you have to realize that your parents are first in line when it comes t paying for your education. The 29k bonus that your father received at the end of the year is income. Even after taxes, there is an expectation that some of the monies be used to pay for your education. Your EFC will be based on your parents income and assets and what the school beleives that they can afford to pay. It will not be based on whether or not they are willing to pay for your education or whether or not it is worth more to them to channel their monies into other things.</p>
<p>I read where you wrote that you had a number of issues going on:</p>
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<p>the school will take into consideration exhorboriant medical expenses not covered by insurance. You must send in the documentation; the bill along the statements from the insurance company as far as what was covered by insurance and proof that your parents paid the unreimbursed portion. Keep in mind that your EFC will not be decreased dollar for dollar.</p>
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<p>the don’t care about your neignbor’s house. again submit the documentation of what you sent to the insurance company, what was paid, what amount was left and proof that your parents paid it. Again this is not going to reduce your EFC $ for $</p>
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<p>This is a life choice that your parents are making. it is one thing if they are paying off their parent PLUS loans for your brother’s undergrad and are asking that this be taking in to consideration. However, as far as med school is concerned, for all intents and purposes, your brother is now considered an independent student who is now eligible to borrow up to the full cost of his med school - any financial aid given to cover his med school expenses. If your parents have made a conscious decision to pay for his med school at the expense of not paying for your undergrad education, a school is not going to give you their institutional funds to make up the difference.</p>
<p>The problem with yoru scenario of being 200k in debt is that no one is going to loan you 200k. The most that you will be able to borrow this year is $5500 in stafford loans (if it is not already part of your financial aid plan. If your parents are credit worthy enough, they can borrow the balance as a plus loan. However, it sounds like they have given so much to everyone else, that they may not be in a position to do this.</p>
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<p>Where is this money? Is it in a 401k/403b or retirement account or is it simply sitting in the bank and they are planning to use it for retirement? If it is simply sitting in the bank, the school considers it an asset and will assess it as such. While monies in the 401k/403b account are protected, any contributions your family makes are added back as income that the school believes can be used to pay for your education.</p>
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<p>Again, this is another life choice that they have made rather than using the money to pay for your education. You will not get increased financial aid because of it.</p>