<p>So I want to apply to Wake Forest early decision but I also need financial aid. My family can cover around $30,000 of the tuition per year but the rest I need from financial aid. I've been told to not apply ED because I wouldnt't be able to compare packages. Would the packages differ that much though? More impotantly, what are some thoughts on taking the risk and applying ED while needing financial aid (around $20,000)? Will I get the rest covered? Thanks in advance...</p>
<p>In my opinion, the only students who should apply ED are those who have no money concerns at all. You deserve to have a choice when May rolls around and chances are good that you might even change your mind about schools by then. If WF is the best choice when May rolls around, go for it, but I would not let a child of mine apply ED.</p>
<p>Wake Forest meets 100% of need, but that’s need as determined by them. Have you and your family run their Net Price Calculator yet? <a href=“Net Price Calculator”>Net Price Calculator; If you put in accurate numbers and the calculator comes up with a family contribution of no more than $30k, then you may have a good shot at getting a nice FA package during ED. On the other hand, if the Wake calculator gives you a higher price, then applying ED will not allow you to compare aid packages with other schools during RD. Yes, packages can vary enormously from school to school. </p>
<p>Wake awards merit money as well. Are your stats high enough to receive some money from this pool? Many schools prefer to award merit money during RD as a way to entice accepted students to enroll. You’ll have to check with the Wake forums to see how Wake tends to award merit.</p>
<p>Be aware that even after running the calculator, your actual package may vary, or could include loans. Think about what happens if you are accepted ED but Wake says your family will need to pay $31k, or $32k.</p>
<p>bummppp please</p>
<p>As said above - it is the school that decides what your need is, not you. What your family thinks they can pay is not how need based aid is determined. So, if your family thinks they can pay $30k but the school thinks they can pay $45k, then your “need” as far as the school is concerned is $5,000 and that is what they will base your FA on.</p>
<p>FA offers can vary widely by school. If getting FA is a make or break deal for whether you go to the school, don’t apply ED. You will have no way of comparing FA offers. You need to be able to do that if money is a concern.</p>
<p>Apply ED only if you don’t care about comparing FA offers. In your case that would be only if WF is your by far number one choice, your dream school, and you want to know only if you can afford it. If you’d be just as happy at another school, don’t apply ED; the other school may cost you less.</p>
<p>Sounds like you need to be able to compare offers.</p>
<p>Wake Forest “meets need”…but ONLY as WAKE defines your need. Wake may say that you have NO need…or just a little need.</p>
<p>Another school may say that you have greater need and give a better pkg. </p>
<p>If anything, by apply RD…if you get a worse pkg from Wake, then you could show Wake your better offers and see if they’ll match them.</p>
<p>You can’t do that with ED.</p>
<p>also…be sure to have some financial safeties…schools that you know for sure that you can afford!!!</p>
<p>If your family financial are pretty straightforward (don’t own a business, assets structured primarily in 401Ks and IRAs) and you tried several of the institutional calculators and are certain that your family understands what they will be expected to pay, not what they “want to pay” but what they will be expected to pay then applying ED is not as high risk. Some colleges will offer to take a look at your finances and give you an early read on what their package might look like so you could ask Wake if they might be able to give you an early read. </p>
<p>Also make sure you read carefully Wake’s information on early decision. Look at the deadlines and the notification dates, etc. read carefully the language about what is required after you receive an acceptance in terms of accepting the financial aid package. You do not want to be in mid-December with a financial aid package your family really can’t afford and having scholarship deadlines, and such for other viable colleges disappeared.</p>
<p>Do your homework and absolutely have one financial safety school that you are willing to attend locked up.</p>
<p>*assets structured primarily in 401Ks and IRAs) *</p>
<p>And…make sure that you “add back in” the annual contributions to these accounts.</p>
<p>If you do apply ED, then also apply to some rolling admissions with large assured scholarships that you will have “in hand” at the time your ED offer comes in so you can at least compare to those.</p>