<p>I am beginning to freak a little. Not sure if we may have made a tactical mistake.
My son was recruited as an athlete at UPENN. 2310 on SAT's and unweighted 4.0 while currently taking five AP classes.
Coach told me based on what I told him that it would cost $18K a year given what we make.
He was accepted to Wharton early decision.
We are waiting until Feb. to fill out FAFSA and PENN financial aid packet.
Our taxable income is $120K, one younger sibling.
Here is our situation, we paid off our house three years ago, saved $55k for his college with no house payment.
We have several rentals which are all underwater and slowly bleeding me dry. </p>
<p>Since we were also recruited by Princeton, we were told that we would get their aid rates.</p>
<p>How is generous is the UPENN financial aid department given our situation?
Has anyone been able to get better rates with proof of recruitment from Princeton?</p>
<p>Have you given your online reply confirming your intent too enroll? Penn is very receptive to a evaluation of your needs. They worked with us and made itt possible for my son to attend.If you want to wait until the Spring to compare offers that’s what many people do.But I think you’d be giving up your ED accepptance???</p>
<p>My daughter got accepted ED as well. We filled out the FA for Penn and as we kind of expected we aren’t getting a dime from Penn. I spoke with a counselor and he looked up our application and said for this coming Fall semester there was no way. In fact he told us not to fill out the FAFSA. He did say if something changes to our financial situation Penn would then re-evaluate at the time of any financial changes. Overall I think all Ivies are pretty good about adjustments to your portion and will do it at that time instead of making you wait until the next school year (like other private schools do). </p>
<p>Without posting any of our financial information I will say our taxable income is a bit more (not a bunch more) than yours. We have a mortgage on our main house but our rentals are paid for. As I said we aren’t getting any financial assistance. Everybody’s situation is different so its hard to compare one to another.</p>
<p>Thank you. I guess we’ll have to wait and see.</p>
<p>If you get a good offer from another Ivy, even if Penn found you ineligible, they will respond VERY quickly and can match (or do better, no loans!), this speaking from experience. Be sure to negotiate if you have other offers.</p>
<p>Why don’t you submit last year’s information and then update next month? You will get a better view of your FA.</p>