EFC and Financial Aid for Internationals

Paying for College
1

<p>Hello everyone</p>

<p>I am the father of a student in “Premiere” (11th grade) at an american/french school in Paris and who would really love to come studying in USA (she should start College in fall 2011). She has fortunately an excellent academic record so far and dreams of studying Liberal Arts at Yale. She is preparing SAT and all the required stuff for admission.</p>

<p>I am quite confused about Financial Aid and Scolarships, and eligibilty of international students to it. I am also very worried about costs of studying: Colleges my daughter is considering have tuition/fees in the range of 50 k USD per year.</p>

<p>The College Counselor at her school states that not being able to pay for college is not a problem, and that financial aid will help us, but I have the impression that she is making the issue too simple.</p>

<p>As a matter of facts we are not poor and according to many Financial Aid - EFC Calculators that I filled on line (provided that I filled them correctly, as they make reference to american tax schemes which are unknown to me), we should contribute for almost 90% of such costs. The problem is that I simply cannot afford that 90%. Cost of living in Paris is among the highest in the world, and my salary goes in taxes and loans and there is not much left for paying College.</p>

<p>Is it really that "automatic" getting financial aid in American Colleges as the College Counselor states? Should my daughter be admitted at Yale (we know it being very hard), would this automatically imply her to get a Financial aid if she/we cannot pay?</p>

<p>Are there Colleges where getting Financial Aid for international students is easier?</p>

<p>Thanks in advance to all of you</p>

2

<p>Yale has some of the most generous financial aid in the U.S. You should use Yale’s own financial aid calculator for the most accurate estimate of any aid you may be eligible for:</p>

<p>[Yale</a> University Financial Aid > Financial Aid Calculator](<a href=“Welcome | Student Financial and Administrative Services”>Welcome | Student Financial and Administrative Services)</p>

<p>That said, what they’ll expect you to pay is based on your income and assets, and they will determine how much that is by their own formula, not by your sense of what you’re actually able to pay in the real world.</p>

<p>Main thing is, you daughter should apply and see what they come back to you with in terms of aid. She should ALSO make sure to apply to colleges that your family can afford in the event Yale doesn’t work out.</p>

3

<p>You sound like you are in the same position as many American families. What you can afford and what colleges think you can afford are very different things. They will look at your income and assets, but cost of living where you live does not matter and they do not consider debt.</p>

<p>Even though Yale has very generous aid, and I would indeed use their calculator, chances are good that they will expect you to pay more than you’d like to if other calculators are showing you paying 90%.</p>

4

<p>^^^</p>

<p>Agree with the others…</p>

<p>Be aware that the ivies and a few elites are unique in the generous aid they give to int’ls and Americans. Some ivies don’t use the typical methods for figuring how much families should pay. Most schools, even other elite schools, are not as generous. Also, many are not “need blind” to internationals. </p>

<p>Once you include non-ivies on your list, the amount of aid for internationals starts dropping quite quickly. Ivies can be so generous because they have mega endowments. The rest of higher education in America has very limited means, and tends to reserve those means for Americans and legal residents. </p>

<p>Frankly, most universities in the US cannot meet the need of Americans, therefore they can’t meet the need of int’ls. These schools are further hindered in giving int’ls aid because int’ls aren’t eligible for any federal aid. </p>

<p>However, there are some schools that will give merit scholarships to int’ls. So, if money is an issue, your D should target ivies/elites that give generous FA to int’ls that qualify, and schools that give generous merit to int’ls that qualify. :)</p>

<p>What schools are on your D’s list? </p>

<p>What are her stats? GPA and test scores?</p>

<p>*my daughter is considering have tuition/fees in the range of 50 k USD per year.
*</p>

<p>Since your D is in the 11th grade and will be traveling internationally a couple times a year, you’ll need to figure the Cost of Attendance more in the $56k+ range. Yale’s current COA is $51k (for the 2009-10 school year.)</p>

<p>Is it really that “automatic” getting financial aid in American Colleges as the College Counselor states?</p>

<p>Absolutely not. That counselor is wrong - very wrong. </p>

<p>If it was that easy for int’s, there’d be a lot more int’ls studying here. Many/most int’ls studying in the US have to pay 100% (or nearly 100%) of their own way. Heck, it’s hard for American kids to get the aid they need!</p>