<p>my s was admitted to a great ED II school and would love to go. The school has provided a financial aid award and it is generous, however its a few thousand off what I think will be realistically workable for our family. How do we discuss this with the financial aid office? Does the parent or the student call? What is the right language to use. I would start out by thanking them for the generosity and then explaining the need for a little more in funds. They only look at custodial info, so would it make sense to mention that the full responsibility will actually be on me?</p>
<ol>
<li><p>Is this a school that meets 100% demonstrated need?</p></li>
<li><p>It seems from your previous post and concerns, that they granted your non-custodial waiver. The school already knows that the full responsibility is on you, hence using only your income/assets to give you a financial aid package (if they wanted your ex to take some of the financial burden, they would not have given you a waiver and his income and assets would have been a factor in your son’s financial aid package.</p></li>
<li><p>Did you run your numbers through the net price calculator? If yes, are your out of pocket cost aligned with the estimate from the NPC?</p></li>
<li><p>What would be the basis for your appeal? The fact that it is all going to be on you is most likely not going to net you any more money. Is there anything that you think they did not consider; care of an elderly parent, special needs child, unreimbursed medical expenses, lost your house to SS Sandy? Can you document that basis?</p></li>
</ol>
<p>Remember that you must apply for financial aid every year. What is to say that you get the package “you want” this year and it just reverts back next year? Are you willing to have this dance for the next 3 years?</p>
<p>One of the down sides to ED is the expectation that you have done your financial due diligence. You have other packages to present to the school from peer schools for them to consider. While you may pull out of ED if the money is not workable, you really have no way of knowing if this is the best package that you are going to receive. Will you be ready to walk away if the package is not workable?</p>
<p>Run the NPC with the numbers and see if there is a difference. That is a key point. Also look for anything in that estimated form that might be different from the actuality and discuss it with them. Also run some NPCs from other colleges on your son’s list using the same figures and if they are consistently coming up with more, then bring that up too.</p>
<p>The final thing is that if you can’t do it , you give it up and focus on the other schools, especially if the NPCs show you are likely to get more. One of the disadvantages of ED is that you may not have as many other offers on the table so you can’t really compare, and you have to take that chance, but for that risk, your kid gets a boost in getting accepted. Now you see the price of that risk in dollars, and have to make the decision. </p>
<p>Have you crunched the COA the school estimated versus the actual COA? For example the amounts the school provides for books, personal expenses and travel may be higher than your student actually needs and there may be some savings there. Conversely - is the estimated travel too low and you could ask for some consideration there? I did ask for consideration once for travel since we live across the country and the average travel cost they computed was far lower than the actual cost we would incur. Typically the book estimate is high (buy used online or rent to save $$). Could the student work on campus to cover his own personal expenses? Good luck.</p>
<p>Can the student work over the summer to contribute? Work during the school year?</p>
<p>Are there full student loans?</p>
<p>How does the award compare to the results on the NPC? </p>
<p>I agree that if travel costs would be higher than estimated ask for consideration.</p>
<p>Since the award assumes you’re paying (and not a NCP), you can mention but they’re already assuming that since they didn’t ask for his info.</p>
<p>Is this Vandy? </p>
<p>Few schools"meet need" w/o asking for NCP info. Vandy is one that meets need w/o NCP info.</p>
<p>In most case, the EFC is usually higher than what one would like to pay. You should consider yourself lucky if the difference is only a few thousand dollars. Anyway, do check the Net Cost calculator and see if there is any reason for an appeal. Also try other sources of scholarships to cover the difference.</p>
<p>If you will turn down the school unless they give you more, what do you have to lose by asking for an increase? I have no problem contacting the school about financial matters, since it is really my money and my children don’t really have all the information to discuss my financing.</p>
<p>I don’t agree with those saying ‘if it is only a few thousand…’ A thousand here, a thousand there and suddenly it is real money we’re talking about. My daughter’s merit award went up $1000 since the figures were posted last summer, but tuition went up $2000, and housing another $1000. If you contact FA and there is nothing they can do, they might at least have a list of private awards your student might be able to apply for, or they might increase work study.</p>
<p>^ Read again. I am not saying a few thousand dollars is not much. I am saying one is lucky if the EFC is only a few thousand dollars less than what they can afford. For many people, they thought their EFC should be $10,000+ less.</p>
<p>I say, give it a go. If it fails, you either move on and take your chances with the other schools, or tighten the old budget belt more, sell on Ebay, look for a cheaper place to live, look at loan possibilities, and all of the options. Those are the choices.</p>
<p>Yes, things go up ins subsequent years, especially if cheap off campus housing is not available. Upper class apartments, suites and even rooms tend to cost more, tuition and costs go up too, and sometimes scholarships and aid will not go up. You can bump up a bit in income and end up with less aid, even though the increase isn’t one you even noticed. Also most schools increase the required student contribution each year. Most of the time, that info is right there on the fin aid website. Students are expected to come up with more money to pay their own share as they become upperclassmen. </p>
<p>thank you all. yes the school is being generous, close to the NPC figure. This school ONLY required custodial parent info, therefore I did not need to do a waiver here. that’s why I thought pointing out the fact that it is in fact all on me might be a reasonable thing to mention. I will place a call to the fin aid office and express my gratitude and explore if there is any way to come up a little bit, 5-6K. </p>
<p>Try NPCs at other schools in the running and see how they compare. That might be something to bring up if this school’s NPC is not as generous as others. </p>
<p>Try the FA office. At least, they may offer you a loan to cover the gap.</p>
<p>Billcsho…you keep telling people to go and get loans from the financial aid office. What are you talking about? The only loans they can add to a package are the Direct Loans IF the student isn’t already receiving them as part of their award. for a freshman, this would be $5500.</p>
<p>Colleges are NOT banks, and they don’t give loans.</p>
<p>Newmexma, if your child did NOT receive a Direct Loan in her financial aid package from the school, you should be able to request this $5500 loan which is in your student’s name.</p>
<p>^ I am thinking about the Plus Loan.
<a href=“http://www.usnews.com/education/best-colleges/paying-for-college/student-loan/articles/2010/09/27/how-do-i-get-a-parent-plus-loan”>http://www.usnews.com/education/best-colleges/paying-for-college/student-loan/articles/2010/09/27/how-do-i-get-a-parent-plus-loan</a>
See #4 in the article above. The school do not give you the money, but the FA office will provide the information and help you to get the Plus Loan.</p>
<p>I doubt this single mom is looking for Plus Loans. And this isn’t her only child, so likely she’d want to avoid Plus Loans like the plague because 8 years of Plus loans would likely be devastating.</p>
<p>Of course everyone want to get more grant or scholarship, but at least there is a loan option and that is likely the option they will offer. I know everybody want to have a lower out of pocket cost. Me too. But there is a reason to have the mandated NPC on each school’s website. It does not help to show them the NPC from a different school. I would suggest to look for internal and external scholarships to apply if additional loan is not an option.</p>
<p>agreed mom2, I am a single mom, and I am able to pay my FASA EFC, of about 15K, but can’ t pay the 20K which is what the award leaves over. simply want to let the college know we need that additional amount to really make it work. I had thought it was acceptable to communicate this type of need to a fin aid office </p>
<p>You are highly unlikely to get more if you don’t ask unless your final numbers go down from the estimates you provided. So you might as well give it a go. </p>
<p>Sure you can tell the FA office that you can’t afford $20k. That’s acceptable…and it’s ok for the parent to call.</p>
<p>but…what did the NPC results indicate?</p>
<p>And, were there student loans in the FA pkg? If so, how much? (these would be for your son, not you.)</p>
<p>no loans. the NPC showed grants in the amount of 40K plus 2300 in work study, leaving a 15K EFC. So the award amount was 5K less than their NPC indicated. I realize it’s not a large difference,and I AM very grateful both for the admission and the award, simply want to know how to do “the ask”. </p>