ED if High EFC

Colleges and Universities A-Z Carnegie Mellon University
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<p>Carnegie Mellon is my clear-cut first choice. I'm interested in applying for their ChemE program under CIT. Looking through admission statistics and numerous chance threads on here, I'm about an average applicant. Good grades, test scores, however no outstanding ECs. I am a white male and have an EFC of about $6000 so I will be needing good aid. Because I have no "hooks" I think my chances of substantial grants are slim for RD. Because CMU meets 100% of need of ED applicants, this may be the better choice...yet the rule of thumb is stay away from ED if fin aid is a question--would they saddle me with major loans? I've read of a few posters on here who applied ED and secured good aid, but I don't want to be a weasel and back out of a binding contract.</p>

<p>Thoughts?</p>

2

<p>So, here’s the thing. CMU will meet 100% of ED need, but as you mentioned, a lot of it is usually in loans unless you have one of the aforementioned “hooks.” I had 100% of my need met by applying ED, but got a crap ton of loans, max work study, and then a small-ish grant. (I will also mention that this has changed since my second and now third years - my grant is large now and my loans smaller. Aid can-- and does-- change at CMU.)</p>

<p>Many people on this board, myself included, will therefore recommend that you apply RD to CMU and several of its peer institutions. These might be RPI, Case Western, U Pitt, whatever. Seek max financial aid at these schools and then use those offers to bargain with CMU. It will offer you a chip that will probably result in higher grants than you would get through ED financial aid.</p>

<p>That said, the ED application process for finaid is a little more malleable. You can choose to apply ED if you don’t think you’ll get in RD, then if your finaid is really awful you can call the school and plead with them for more grant aid. Usually they bend a bit because, well, you applied ED and you’re committed.</p>

<p>It’s up to you. Those are just a couple of your options. :)</p>

3

<p>Here’s the rule for applying ED needing financial aid:

<a href=“https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf[/url]”>https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf&lt;/a&gt;&lt;/p&gt;

<p>So if they don’t offer you enough aid, or if loans are too big, you can say thanks but no thanks, and apply elsewhere. Some schools can afford to offer more aid than others. </p>

<p>And it’s an agreement, not a contract.</p>

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<p>Thanks for the replies!</p>

<p>I’m reasonably confident that I would be accepted if applied during the regular cycle (w/o becoming a chance thread: 2220 SAT, 4.0gpa, volunteer/work exp., various clubs), I’m just curious as to how I can max my financial aid package. It seems during RD, they enjoy giving grant money to people who will increase diversity. Yet during ED, it seems they should make attendance fiscally possible, if not exactly the best deal possible, i.e., total loans will not exceed expected salary for that major (ChemE avg for CMU = $68k) of which the loans costs may be defrayed by summer internships/work etc.</p>

<p>I think it will difficult to negotiate a better fin. aid package using [peer</a> institutions’](<a href=“http://www.cmu.edu/ira/infox/external/peer.html]peer”>Peer Institutions - Institutional Research and Analysis - Office of Institutional Effectiveness and Planning - Carnegie Mellon University) offers, because I think that of those schools that I could get into, they would give me similar aid as CMU.</p>

<p>I suppose I could apply ED, and then go to my state school as a back up (great for engineering, yet I don’t feel it’s as good a fit, and they are also stingy when it comes to grants).</p>

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<p>So if CMU offers 100% of need for ED, but you don’t like the package (if a lot of it is in loans), can you turn it down?</p>

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<p>The only legitimate financial aid loans are federal student loans, at roughly $5000 per year. </p>

<p>The issue is the calculation of need; schools use standard formulas that don’t apply to every family. That’s one reason the Common Application allows applicants to decline the ED FA offers; only the family can know if an offer is affordable.</p>

7

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<p>So are you saying CMU can only offer those loans as part of the package? I was under the impression they could include loans from multiple sources.</p>

<p>Also, I was curious about filling out the [estimate</a> form on their website](<a href=“http://my.cmu.edu/portal/site/admission/estimate/]estimate”>Home - Computing Services - Office of the CIO - Carnegie Mellon University), but found this message:</p>

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<p>As a matter of interpretation, is this directed at the incoming class of 2015, or are they no longer offering estimates in the future as well?</p>

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<p>“So are you saying CMU can only offer those loans as part of the package?”</p>

<p>No, just that only federal loans (in the student’s name, no qualifying necessary) are “legitimately” financial aid. Other loans help meet the expected family contribution (EFC).</p>

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<p>CMU can also offer Perkins loans on top of the stafford loan. So that $5500 can be substantially more.</p>

<p>I think you should wait for RD. I think CM offers great aid in the ED round to the hooked apps and people with outstanding records to compete with the other top 25 schools.</p>

<p>I think a regular applicant with high need would be deferred to the regular round.</p>

10

<p>Does anyone have any idea of what percentage of need they will meet for RD?</p>

<p>Thanks.</p>