Okay so, I am planning to apply to JHU Early Decision, now on their website it says that if you are not satisfied with the financial package given and are still unable to pay the amount, then you can get out of the early decision program. I am NOT planning to do this, but, when say an admissions personnel is looking at your application, and sees that my family income is roughly 50,000, and we don’t really have a lot in savings, would they take this against because they might think I would be unable to pay the tuition and would just get out of the ed acceptance? See, the reason I am asking is really my family is unable to pay even 10,000 a year for the tuition, and we are really banking on loans and on many of my family members who have already said they would loan the money right away, of course JHU doesn’t know this so yeah. Anyone have an answer or have I misunderstood the financial aid process. Thanks in advancee.
<p>go to the collegeboard website and run the efc calculator...it will give you a reasonable estimate of what private schools will expect your family to pay, if anything. Of course, any finaid from Hopkins or anywhere else, could consist of loans and well as grants.</p>
<p>(above point assumes you are a US resident, since I'm not famililar with finaid for internationals.)</p>
<p>xindianx, there are several things you need to know and do. I'll assume, like Blue, that you are a US citizen, because things are much more complicated if you are an international.</p>
<p>First, has your family estimated what its expected contribution might be? Blue has mentioned one calculator, another one is at <a href="http://www.finaid.org/calculators/finaidestimate.phtml%5B/url%5D">http://www.finaid.org/calculators/finaidestimate.phtml</a> Keep in mind that the expected family contribution does not always match with the schools idea of what your family can afford. And, as I'll explain in a moment, even if it does, the way the school meets that need may not match your expectations either.</p>
<p>Now, on to your other question. You should know up front that Johns Hopkins is not a school that guarantees to meet 100% of need of all accepted students. They do, however, meet full need for 90% of students who have demonstrated need. That means about 10% of students with need do not get a package that matches their need. I mention this because we have had several cases here where JHU did not come up with full demonstrated need. </p>
<p>Another thing you should know about JHU is that they are not always need blind in admissions - in other words, if faced with two equal candidates, one with high need, one with low need, they will sometimes take the low need one over the high need one.</p>
<p>Second, your chances of getting financial aid from JHU will not be different if you apply ED than if you apply RD. However, by applying ED you will be giving up a very important thing: the chance to compare financial aid offers from other schools.</p>
<p>Why is this important? Because you can get financial aid packages from different schools that cover your expected family contribution but in very different ways.</p>
<p>Here's an example: School A offers you a financial aid package of $30,000. The package is made up of $10,000 in grants, $18,000 in loans, and $2,000 in work study. The "free money" in this package is the $10,000 in grants. The loans and the work study are not free - you have to pay off the loans you have to earn the work study money (and remember you do not get the work study amount up front so your family may need to come up with it at the beginning of the year.) So basically, the "cost" of this package to you is going to be $20,000.</p>
<p>OK, School B also offers you a $30,000 financial aid package. But their package offers you a $20,000 grant, a $5,000 merit award, a $3,000 a year loan, and $2,000 in work study. The "free" part of this award is $25,000 - money you do not have to earn or pay back. </p>
<p>Which package would be a better choice for you and your family? Obviously, the one from school B.</p>
<p>Now, here's the tricky part with applying ED. Even if the school gives you a financial aid package that covers all of your financial need, there is no guarantee of how it will be comprised. It could be a package like School A's, it could be a package like School B's, it could be some wildly different combination, like a full ride based on merit from School C. </p>
<p>But, if you apply ED, you are basically stuck with whatever combination they give you in your financial aid package. You can't compare offers to see if it makes better economic sense to go elsewhere, and you can't negotiate with the school by saying "I received less loans elsewhere, can you match that?" </p>
<p>Now, getting out of ED for financial reasons is trickier than most people think. If you need $30,000 and the financial aid package they offer you is only $20,000 and they can't do better --- yes, you have a legitimate reason for getting out of ED and they probably won't hassle you. BUT, and here's the gotcha - if they offer you a package worth $30,000 but it's mainly comprised of loans, not grants, getting out of ED is much harder. The school HAS met your need, just not in the way you wanted them too. Saying you can't afford to go won't work.</p>
<p>So, that is why the common wisdom is that if you need large amounts of financial aid, you should avoid applying ED. You give up a valuable chance to compare offers and find the best economic package. And, getting out of the ED agreement can complicate matters in terms of applying to other schools in time to qualify for merit scholarships, to get the best financial aid package, etc.</p>
<p>Of course, only you and your family can decide if applying ED to JHU is worth it no matter what the package will be or how it might be put together. If you decide to go ahead with ED to JHU, the questions you need to directly ask JHU are (1) what is the typical or average package for someone like me applying ED comprised of: how much in loans, grants, work study? (2) By applying Ed will I still be considered for all merit scholarship opportunities? (3) what percentage of ED applicants have 100% of their need met? (4) How does JHU compute demonstrated financial need? Do they use the Expected Family Contribution format, the FAFSA federal methodology, or another method?</p>
<p>Hope this all helps - I'm not trying to dissuade you from applying Ed to JHU, but please think about whether applying ED is the best from an economic sense for your family. While family members might say they are willing to give you loans (which would be great), don't count on it --- people have a way of saying they'll give you moeny and then saying they can't. Ask lots of questions upfront of both JHU and your potential lenders about interest rates, repayment schedules, etc. and be prepared for disappointment.</p>
<p>carolyn, after reading your post you have given me more enlightenment than anyone else on this site, thank you SO much, I saved this on a word document to give to my guidance counselor too, because it takes her 2 hours to explain to students what you explained in your post.</p>
<p>Now, I understand what you are saying, there are mainly several reasons why I want to apply ED to Johns Hopkins. First off, JHU is an awesome school, location, it's far enough from home that my parents won't come bother me, size, doesn't matter, people, hey man I'm a geek myself lol, baltimore, I heard around the campus it's not too bad and the security will be kicked up a notch. Now the most important thing is that it has one of the best Premed programs, and I would really like to go to JHU for its premed program, and applying ED dramatically increases my chances to get in (I am very skeptical of getting in regular decision JHU because of my stats which I will post on this thread on another post). Okay so, knowing that I already like JHU, I mainly want to apply ED to increase my chances of being accepted. Hmm, you know what I shall do, let me use this calculator to figure out some rough estimates, and then also email JHU asking the questions that you have advised me to ask, also what is Expected Family Contribution and FAFSA federal methodology? I honestly would be talking and asking a lot more but I have a viral throat infection, so sorry about that, but if anything comes up I will post. Thank you so much for you advice, you're really really really helpful, and I'm also posting my stats on the next postt. thanks again =)</p>
<p>o btw I am a U.S citizen, born in jersey =)</p>
<p>Here are the stats (New Jersey Public School):</p>
<p>GPA: 4.0 W~ (Freshman Year destroyed me because I was a transfer)
Rank: 30/400~ (Our class is EXTREMELY competitive) Also ^
SAT I: 1940 (670m, 670w, 600cr) Totally choked, esp. math, scored around 2100-2150 on practice tests, retaking them in October, expecting 2100~
SAT IIs: U.S History, 700~(results on May 23rd)/Biology M, 750+ (taking in june, def. got a 4/5 on the AP Bio exam)/Physics, 700+ (taking in june)</p>
<p>ECs:
Key Club (9,10,11,12)
Debate Team (9,10,11,12)
FBLA (9,10,11,12)
Tutoring Biology/Physics (11,12)
Science League (9,10,11,12)
National Honors Society (11,12)
Spanish Honors Society (11,12)
National Society of High School Scholars (9,10,11,12/I know this may not really matter)
Ping Pong Club (11,12) Founded This Year
Amnesty International (12) Founded by Me for next year</p>
<p>Leadership:
Key Club President (11,12)
Key Club Secretary (10/11)
Debate Team Varsity Captain (12)
FBLA President (12) ~I'm confident that I will be elected
FBLA Press Correspondent (10)
FBLA Historian (11)
National Honors Society Pres/VP/Sec./Tres for 12th (We still have to do elections, and the committee chooses what position you will be based on your stats)
Amnesty International President (12)</p>
<p>APs:
AP Biology (11) ~4/5
AP Physics (11)~ Didn't Take It
AP Statistics (11)~4/5
AP U.S History (11)~4/5
AP Calculus BC (12)
AP English (12)
AP Spanish (12)
AP Chemistry (12)
AP Psychology (12)</p>
<p>Hooks:
- I moved right smack in the middle of Freshman Year, and my GPA/Rank suffered tremendously because of it, it took me all of frosh year to adapt, and starting sophomore year i was back on track. GPA: (9, 3.6) (10, 4.1) (11, 4.4)
- When I was 6 years old I was hit by a SUV in my old town, after 9 surgeries and lots of pain/suffering I surpassed all of it and didn't give up
- I took/will be taking Physics Honors the summer of 2004 and Pre-calculus Honors the summer of 2005</p>
<p>I've Always taken the most challenging courses offered at my school (i.e all honors if not AP)</p>
<p>yeah so those are my stats, hopefully you can maybe give me an idea of what to expect in terms of admission and financial aid, thankss =)</p>