Parents needs to send money regularly to support grandparents living abroad. The money covers more than half of their expense. How to reflect it in the CSS profile?
All you can do is write about it in the notes. Many/most schools will not make allowances for that because:
- it’s a choice
- the people aren’t living in your home.
- If the school gave you more money, the school would essentially be supporting your relatives abroad…which they have no interest in doing.
- schools believe that parents are obligated to help their children first.
The “supporting more than half of their expenses” doesn’t matter. That calculation is only for those living in your household.
It is wonderful that your parents are able to help their parents abroad. But this is a choice when viewed by the colleges for financial aid calculation purposes.
There is no place to put this information on the FAFSA which can’t be done until January 1. There is a section on thenProfile for additional information. You can put this there, but don’t be surprised if this doesn’t have one penny of impact on the financial,aid you receive. As noted by mom2, these people are not members of your household…and that is what matters for financial aid purposes.
Thanks for the quick help. I understand what the school may be thinking. However, If CSS really reflects your true financial state, it should reflect that. It is not a choice but a financial obligation (grandparents has no income/retirement). It does constitute a significant part of family expenditure.
It is how your parent choose to spend their money. Many people choose to tithe to their churches, to support adult children or grandchildren, to give to charity, to finance pets. All good ways to spend money, but not usually considered by schools when awarding FA.
You can note it on the CSS, but don’t expect it to change your award.
It’s a choice - the same as some parents choose bigger homes, nicer cars, family vacations, eating out at restaurants, fancy smart phones instead of saving more for college.
Don’t count on the school adjusting your aid one dollar because your parents choose to send thousands of dollars a year to support grandparents who did not save for their own retirement.
Why should your college, in effect, support your grandparents? Why?
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It is not a choice but a financial obligation (grandparents has no income/retirement).
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as harsh as it sounds, it is a choice. If your parents suddenly had a major expense of their own (maybe a health issue with one of your parents or you or a sibling) or a job loss, then suddenly they wouldn’t be sending money abroad. There is no legal obligation to support adult relatives.
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However, If CSS really reflects your true financial state, it should reflect that
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You can write it in the area of special mention, and that will tell your “true financial state”, but again, the schools won’t care. A family’s “true financial state” could be that it gives 20% to their church or spends $1000 a month towards two car payments, but the school isn’t going to give more money for that.
Do you see how crazy this could be if allowed? Every family hoping to attend a school that gives lots of aid could decide to send income to every poor relative they have…all over the world…instead of paying for college. Virtually everyone has a relative or two that “has no income” and “needs” this money.
Do you realize that everyone has a poor relative or two?
You and your family have to make a choice:
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stop supporting relatives for 4 year and pay for your college
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go to a school that is cheap enough that your parents can pay for it.
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go to a school where your stats will earn you huge merit scholarships
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find a way to pay for your college AND support the relatives.
If your parents continue to send money, then how much can they pay each year for your college?
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It is not a choice but a financial obligation
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and so is paying for your college costs. It isn’t the college’s responsibility to pay for your college costs.
So, are your parents saying, “we would rather send money to grandparents than pay for your college”?
If so, then you have your answer. It’s your parents money and they have the right to decide that they’d rather send it abroad then pay for your college costs. Your issue is with your parents’ decision, not the colleges.
How much will your parents pay each year for your costs? You need to find that out. The answer may not be what you want, but you need to deal with reality, so that you can apply to affordable schools.
If you’re not careful, you could end up with a handful of acceptances in the spring…but not enough money to pay for them…then what will you do???
Just a plug to say here that your parents may be doing the right thing for your extended family in doing this. But the other posters are right in saying that colleges will not give you extra financial aid because of this. You will likely have to pick less expensive options, as many students do.
Your parents could also reduce the amount they send to your relatives thus making some available for your college costs. It doesn’t have to be all or nothing.
Also, college costs vary. You can attend a community college and commute for $5000 a year tuition in some places. On the other end…you can live at a residential college in a very costly city for $70,000 a year.
That you are completing the Profile now would lead me to believe you are looking at very expensive universities. No one is required to attend a $50,000 a year plus college. Perhaps you should consider something more affordable.
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Just a plug to say here that your parents may be doing the right thing for your extended family in doing this. But the other posters are right in saying that colleges will not give you extra financial aid because of this. You will likely have to pick less expensive options, as many students do.
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exactly. No one is saying that you’re parents are “wrong”. They have the right to decide what to do with their money. Life is all about choices. Some families have adult children who have fallen on hard times so they send them money to keep them from being homeless.
So, that means that the college-bound children have to make more affordable choices for college so that the parents can continue to help the poor relatives.
And @thumper1 is right, too. No one has to attend a $50k schools that requires a lot of need based aid.
Other posts indicate you are applying ED to Penn. That carries bout a $60,000 a year price tag. What CAN your parents contribute? Did you run a net price calculator? Can they pay their family contribution?
Are your parents willing to pay what Penn calculates they will need to pay?
If not, why are you applying ED?
If you are truly a competitive applicant for Penn, there are a number of colleges where you could garner significant merit aid. Do you plan to apply to any of those?
Another issue is that schools don’t want to be victims of the game, “we’ll send you money, and you send money back”. After all, the family could show $2k a month checks being sent abroad, but the college won’t see that the relatives are sending most/all back…just to fool the school.