<p>I went ED to and got accepted to a "full need met" college, and the financial aid I received was much lower than I had expected. The amount they are asking for is more than half of what my family can afford: 12k.</p>
<p>My dad my only working parent, and what this college is asking for is half of what he earns a year. His annual salary isn't even enough for our family since we are paying off other loans.</p>
<p>I am an American citizen and am applying for the Pell grant (my estimate Pell is the max amount anyone can receive--around 5k), so that gives you an idea of how poor we are compared to people living in the US (we live abroad).</p>
<p>Do you think we could appeal? My parents are too excited about my acceptance that they're willing to do anything to make me attend. It's like I'm the only one who realizes how big a problem this is.</p>
<p>Mind me asking where you got in? Ive heard that people have upped their package by calling and emailing the financial office, giving proof (income, tax, bank statements) that they cant afford it. The university then either ups, or tells u to pay the said amount and releases u from ur ed bind if u are unable to afford. But again, u need to show evidence that 12k is too much.</p>
<p>You have an EFC of 12k, Your parents can only afford 6k</p>
<p>You said your EFC is half of what he earns (I guess this would be 24k)</p>
<p>Does your father own his own business?
Is there property outside of your primary home?
Is there a lot of other assets?</p>
<p>Unfortunately, financial aid does not take debt into consideration (unless you have a lot of unreimbursed medical debt)</p>
<p>DId you get accepted to Bryn Mawr? </p>
<p>They have an extremely generous financial aid policy. Are there currently loans in your FA package? If you have a 12k EFC, it is highly unlikely that you are going to be eligible for Pell.</p>
<p>If you are eligible for the maximum Pell grant, your EFC would be $0. Why do you think you are eligible for the Pell?</p>
<p>The college meets full need, which means it costs $55,000 or more per year. The school likely expects a student contribution of several thousand dollars. </p>
<p>What are the billable costs to this college (tuition/room/board/fees). THOSE are fixed costs,billed directly by the university. There are other costs in the cost of attendance…personal expenses, books, transportation. Those are ALL in your control to some degree. Buy used books or rent them, don’t plan to travel home very often, limit your personal expenses.</p>
<p>Does your financial aid award INCLUDE a $5500 Direct Loan? If not, are eligible for one by completing the FAFSA.</p>
<p>You can definately request a reassessment. Usually starts with a phone call to the FA office. They will usually ask you to email or mail a letter and include any info, documentation that would support your need for additional money.</p>
<p>I agree with JoBenny - you should absolutely file an appeal, and the sooner, the better! As noted, start with a phone call to the financial aid office.</p>
<p>There are several possible explanations for the discrepancy:</p>
<p>(1) As Thumper suggested, perhaps you’re expected to take out a federal Direct loan to supplement the school’s offer.</p>
<p>(2) Perhaps there’s an error in the financial aid forms you submitted. (It happens more often than you think!) If that’s the case, you’ll need to identify the error and provided the correct info to the financial aid office.</p>
<p>(3) Your family’s finances may not be as straightforward as you imagine. Significant assets or a self-employed parent can definitely screw things up.</p>
<p>So, look at the offer you received, look at the forms you submitted, and call the financial aid office!</p>
<p>Yes, some American students living abroad think that they’re int’ls. </p>
<p>Since the school is expecting the parents to pay twice as much as they thought, the parents either have some savings or the school adjusted because of the COL in that country.</p>
<p>I wonder if the student really qualifies for Pell. I’m thinking that may be a problem as well.</p>
<p>It could even be as simple as the school is considering the family home back in the states as an investment since they live overseas. Who knows? </p>
<p>I suspect the figures may be off a bit. A lot of young people don’t know their parents income info very well. I have a hard time seeing a school that meets full need expecting $12K from a family that earns $24K. The assets would have to be significant and unlikely to be accumulated on a $24K salary (unless they are missionaries or doing volunteer work and had accumulated huge assets from a previous job).</p>
<p>Thanks for the replies. Sorry about the international student/american citizen confusion. I just used “international” in the other thread to simplify things a little bit.</p>
<p>My parents have not yet filed for fafsa, but I received my FA papers in the mail a few days ago and a full Pell was included in the breakdown. </p>
<p>I’m not sure if I understand how everything works, but the 12k is the amount that will be billed to my account. </p>
<p>I have student loans and work/study in the package.</p>
<p>This is a stupid question, but is it possible to have significantly more aid after fafsa has been filed?</p>
<p>If you already have student loans and work study, that’s probably all you’re going to get but if you share the breakdown of money and Cost of Attendance, it will be easier to figure out. If you are able to get outside scholarships (like through your high school), you may be able to decrease loan amounts but it depends on the school.</p>
<p>Also, can you explain your post above? It sounds like you’re saying your family’s income is just $24K and the school has estimated you can pay half. Is that right? And, if so, are your parents’ assets something like a house back home or is it rental properties/ savings? I’m just wondering, if your income is low enough and the asset is a house, if you can ask for a re-evaluation.</p>
<p>Are your parents US citizens/Permanent residents?</p>
<p>If yes, don’t forget that they will have to file US income taxes and use either the IRS data retrieval tool or get a transcript from the IRS in order for you to receive your federal aid.</p>
<p>If they are not citizens/permanent residents, while you can file the FAFSA with your pin, you will have to print out the FAFSA, have them sign and mail , which can add to your processing time.</p>
<p>No, you need to work this out with the financial aid office NOW. Go through your paperwork and make sure there weren’t any mistakes. Then contact the financial aid office and ask HOW they calculated that you’re able to afford one-half of your family’s income for college.</p>
<p>If you can’t resolve this with the financial aid office, then you need to decline the offer of admission and find an affordable alternative.</p>
<p>The FAFSA is largely used to determine eligibility for federally funded need based aid. If the school is already estimating you will get a Pell Grant, they have included an estimate of federally funded aid. If the Direct Loan is not part of your estimated package, you can get that as well…$5500 for freshman year. </p>
<p>If it were ME, I would be worried about getting LESS aid once that FAFSA is filed. To qualify for the maximum Pell Grant, your FAFSA EFC MUST be below $5000. So…if your FAFSA EFC is higher than that, you will lose the full Pell Grant.</p>
<p>of course, be aware that any numbers the school proffers today, is just an estimate. The real and final aid/loan numbers will be based on to-be-filed 2013 tax returns, so if your family income has gone up this year, aid could go down.</p>