<p>I'm planning on applying to Cornell ED, and I'm worried about financial aid. </p>
<p>For those who got into Cornell ED: how much financial aid did you get?</p>
<p>Was it generous or very stingy. </p>
<p>And if you don't mind responding, how much did your parents make at the time?</p>
<p>I'm very concerned about money and I just wanted to talk to someone who went through my situation. </p>
<p>Thanks</p>
<p>This is very accurate if filled out correctly with your parents’ financial information. <a href=“http://www.finaid.cornell.edu/cost-attend/financial-aid-estimator[/url]”>http://www.finaid.cornell.edu/cost-attend/financial-aid-estimator</a></p>
<p>Are you a U.S citizen or applying as an international?</p>
<p>Generally, if your parents make about $150,000 or more, you wont get any financial aid, maybe a few thousand, if any. Situation is a bit different if you have siblings in college.</p>
<p>If your parents make less than $60,000 and total assests (including home equity) is less than $100,000 you receive financial aid that covers the cost of attendance and does not include loans.</p>
<p>If you are applying as an international, only about 40 or less international students actually receive financial aid, so it also depends on how strong your application is and how much Cornell wants you.</p>
<p>Cortana431, my parents make about 150k, and the calculator said my EFC was 25k. So it really depends, doesn’t it? I plan on applying ED to CALS.</p>
<p>We make about 150K and we get pretty generous financial aid from Cornell. About 20K in grant aid plus loans and work. Just the one kid in school so far. Not much in assets, and we’re underwater on our house.</p>
<p>I said generally and maybe that ‘cutoff’ range is higher but Cornell does not have the same assets as HYPS. Some families have special circumstances and others are lucky. </p>
<p>Glennd816, you filled out the calculator correctly, with everything filled out where appropriate and using your parents’ tax returns? When I first did it, I got more aid than the 0 i ended up getting later because I didn’t fill out the house equity and home value. If you did though, then that’s great if you get that much aid!</p>
<p>I filled out the Cornell Financial Aid estimator again, and it did not ask for home value as it had when I filled it out last year? Was there some change in how home value is used in aid calculation?</p>
<p>Nevermind!!! I missed the prompt.</p>
<p>bump!
I also want to apply to Cornell ED, but if the aid is a lot less than what their online calculator says, then my family cannot afford it. For those accepted ED: was your financial aid close to, or better than, your calculated aid online?</p>
<p>If you can’t afford it, you are allowed to withdraw from the ED agreement. My son applied RD, and his financial aid was pretty close to what the estimator suggested it would be. But this can vary significantly if you have any kind of “special” financial situation – non-custodial parent, parent who owns a business (although we have that and still got a good read) or unusual assets.</p>
<p>New to this but as a parent with son heading off to college very soon, have very much enjoyed reading CC and getting a lot of answers.
ED is something that should not be done without a lot of thought put into it Jamman. Mathmomvt is correct that if the numbers don’t match you can withdraw but you are put behind the 8-ball.
If you apply ED and get in, you withdraw your app from everywhere else (I know you already know this). By the time you “officially” find out the financial aid package it might be late in the game and then you are trying to get into another great school which might be too late.
From what we have heard is that if you are honest with the online calculator with most schools, you get very close to the true amount. We were told that if you can be ok with the +/- of $5,000 to $7,000 then go ED. If not, wait until RD.</p>
<p>The other downside of thinking “I’ll do ED and withdraw if we can’t afford it” is that you don’t get to compare offers. You may get your offer from Cornell, and it’s 5K more than you planned/hoped to spend. But it’s hard to turn down, because you love the school so much and that’s why you applied ED. So maybe you over-extend yourself to try to pay it. (And maybe you can’t keep doing that for 4 years and have to transfer to somewhere cheaper eventually.) Or alternately, you turn Cornell down, but then find out that no one else will actually offer you more than they did, but it’s too late to go back and take Cornell’s offer. </p>
<p>If money is a significant issue, and you’re in that tough middle-class place where it’s unclear how much you’ll get from any particular school, and offers may vary significantly, it’s usually much safer to apply RD and be able to compare offers. Of course the risk to that is that you might not get into the great school that “would have been” your best offer… lots to think about.</p>
<p>Good luck either way!</p>
<p>Don’t apply ED if you are not sure if you can afford it</p>