Early Decision Crisis

Paying for College
21

<p>The OP needs to first figure out WHY her need based aid is so low at the Ivy school. If it is because of assets (which can include a LOT of things…real estate, rental properties, bank accounts, etc) then she may have to decline the ED offer. But if it was an error (something incorrect on the submitted forms, for example), she may get additional need based aid.</p>

<p>But the OP needs to act quickly. She should be looking VERY carefully at what was submitted to the college. She should be looking very carefully at all parent and student assets, including 529 accounts. </p>

<p>If this aid package is ONLY based on a $60,000 income and a $100,000 house equity, something IS wrong.</p>

<p>I suspect there is more to the financial picture than what is here…self employed parent(s), family owned business, real estate other than primary residence, 529 or other savings, etc. </p>

<p>If the parents are divorced and remarried, all spouse financial info would be included as well.</p>

22

<p>ED is not a contract. A contract is a agreement to one, or a series of material, terms. Cost is a material term. At he time you applied ED, there was no agreement as to cost.</p>

<p>Just call the school and tell them that you cannot afford to go there.</p>