<p>OK, so we have started receiving estimated financial award letters. What concerns me is that they state that the grant portions are an estimate and won't be finalized until after we we send in our deposit - and sometime after June 1st. The problem is that without the grant some of these schools are what I would consider out of reach - or at least out of what we planned as acceptable. How the heck are we supposed to make a commitment when they aren't? Have you seen them take the Grant, or other aid away after you accept? What happens if they do - will they give your deposit back? Is it then too late to accept somewhere else?</p>
<p>May 1 is the national decision day. No one can force a commitment from you before this date. </p>
<p>Is the deposit a room deposit or a seat deposit ? Is the deposit refundable if you withdraw before May 1? Are you eligible for any “entitlement” grants from your state or the federal govt (Pell)? Is your child eligible for any automatic merit $ based on GPA/SAT/class ranking?<br>
It sound like the school does not meet 100 % demonstrated need and that there could be a big gap in York final package. Explain to the school while your daughter would really like to attend, that you as a family cannot commit with out a full and complete award letter. If nothing else it is going to set the tone as far as how easy or hard it will be to have to deal with them over the next 4 years, which is also an important factor. </p>
<p>$200 % donstrated need dIsounds lik</p>
<p>Nothing is etched is stone until the your actual numbers come through and are checked, (or it’s decided not to check them). Many folks turned in estimated numbers so the packages are all considered preliminary until the numbers are checked with those on the tax return. If you used actual numbers or very close to them, no worries. But if 2012 is way off, then, yes, your financial aid is going to change too. If you look at the timing with tax returns not due till 4/15 without extension and with people not even having all the w2s and 1099s before some of these fin aid apps due, you can see why a most of them are estimates. Estimates in info means estimates in aid packages that have to be changed when the real info comes through.</p>
<p>He received scholarships (merit and talent) and school grants. Also the regular student loans of 5500 (split between subsidized and unsubsidized). Nothing about PELL grants. I am reading it that they won’t commit to the school grant until after June 1 - but we need to put in housing deposit and school deposit to hold our spot by May 1. Just wondering what other’s experience is with an estimated award letter and if anyone has ever had some of the $s taken away after they select the school.</p>
<p>cptofthehouse - OK, so if my numbers were final, and if we weren’t selected by the govt for verification I should be able to feel relatively ‘safe’. I do understand nothing is 100% guaranteed - but I can be reasonably comfortable they are final.</p>
<p>Ok, you are looking to see if there is any institutional aid coming. Is this a FAFSA only school or do the require in addition to the FAFSA the profile or their own FA forms (this will usually determine how the disburse their own money). If it is a Fafsa only school after you deduct your EFC, how much of the need is being met by scholarships? What is the “fine print” on the scholarship - is it automatically renewable? Are there GPA requirement to keep the $?is there a phase in process. What happens if he does not make GPA? Is there an appeal process</p>
<p>If the numbers were final, and not subject to change, then you should feel confident in the grants. If you’re worried, call the financial aid office and ask them under what conditions they might be changed (that way you can verify that they’re only waiting to be sure the numbers are final on your end). I would only worry if there is something else out of your control that could cause a change. If that is a possibility, ask if there is any way the deposit would be refunded if they changed the aid package because of something on their end.</p>
<p>Our EFC is $16.7K. We received the award letter. It is just noted that it is an estimated award to be finalized after enrollment. This is a FAFSA only school. I am not worried about the scholarship - $10K per year. I have confidence he will meet the requirements for that going forward. We do have a gap - and I can afford most of it, but am a bit short. He was also given a University Grant - $6.6K . The Grant fills the amount that I felt I was short and I am comfortable with my remaining out of pocket if he gets the Grant (about $20K per year). It is the University Grant that says it will be finalized after June 1. If they took the Grant away, it could be tough for me to come up with the entire amount - which would now be $26.6K. I am just trying to figure out what my risk is.</p>
<p>Your EFC is too high for a Pell Grant.</p>
<p>If you think that the numbers that you supplied on the FA forms are good, I don’t see why there would be any significant changes. I think the school is just concerned that a verified FAFSA might reveal something different.</p>
<p>What school is this? Have you posted in the school’s forum to find out if aid often changes?</p>
<p>Personally, I do not think that any more $$ is coming. You have a school that does nto meet 100% demonstrated need. If it is the school from your previous posts. they are straight up when they tell you that </p>
<p>
</p>
<p>the schooll list the following options for funding yor education</p>
<p>Federal Aid</p>
<p>State Aid</p>
<p>Loans</p>
<p>Scholarships</p>
<p>Private Funding</p>
<p>Work Study </p>
<p>IF the school has given you a 10K scholarship and a 6.6k grant, I doubt if there is any more $$ coming.</p>
<p>I find it interesting that people are answering questions I didn’t ask. I never said I would get a PELL grant. I don’t know where that came from. I know we aren’t getting one and I am not expecting one. I also am not expecting any more dollars. I never said that either. I never said I was looking for full need being met either. I said I have a gap - which I am fine with - it is just how MUCH of a gap I can live with. I said the school gave us a school grant but then said they won’t commit until after June 1.</p>
<p>It doesn’t matter what school - since I got a similar letter from 2 different schools. Neither of these schools have a forum on CC so I can’t look there. </p>
<p>I guess we will assume that since we did the forms correctly with the correct information, that even if they verify them, the amounts won’t change.</p>
<p>Contact the schools and ask them about the disclaimer and what circumstances would cause the grant amounts to change. What others have experienced at other schools isn’t relevant to what you may experience at your schools.</p>
<p>He received scholarships (merit and talent) and school grants. Also the regular student loans of 5500 (split between subsidized and unsubsidized). Nothing about PELL grants</p>
<p>I was just responding to your mentioning of Pell Grants. There was no way to tell from the way you wrote that if you knew that you wouldn’t be getting one or not. </p>
<p>I agree with annoyingdad that you should call the schools and ask.</p>
<p>I was the person who asked about Pell grants and other entitlement aid. Op stated that none of this would probably be coming as all they have so far was merit and an anticipated grant.</p>
<p>njmissy - don’t worry about it. I am three years in (daughter is jr in college) I get the same response every single year - at a 100% demonstrated need school. They always send an “estimate” letter and the final award doesn’t come until after school starts - in fact I got a revised letter last month for this year. I always get verified too. Have to send in tax returns every year. But in the end we get all the grants they originally “estimated.” And since it is a 100% demonstrated need school, even though they revised our letter just last month, they still met all our need, the same amount as the estimated, they just adjusted where they took it from (our pell was reduced for some reason and the school grant increased to make up for it). If your school doesn’t have a reputation for bait and switch, and your assets/income aren’t drastically different than what you reported to them, don’t give it a second thought.</p>
<p>I would be inclined to call and ask what would cause the grant to change. The thing I would worry about is that they’ve offered more grant money than they have on the assumption that not everyone will be attending. If they then have a higher yield than expected, awards could go down. (I have no idea - that’s just the one thing that I was thinking might happen). Let them know that you can’t afford the school if the grant is reduced and see if you can get more certainty.</p>
<p>Do call. Without actually reading the letter, and even then, it’s hard to say. Every financial aid letter I have seen does say that the award is estimated and will be finalized. However, your post makes me hesitate as there seems to be a grant in there that is truly a tentative one. Call them up and ask if any factor other than more income/assets actually reported on the 2012 tax forms could decrease your award.</p>