Explaining Financial Circumstances/Appealing Aid?

Colleges and Universities A-Z Pomona College
1

<p>Hey guys!</p>

<p>So I'm an ED2 applicant and super excited for decisions to come out. I had a quick question about the Financial Aid situation though. My family income is only about $43k, but the FAFSA gives us a disappointing EFC of $16k, with CSS even higher. It probably stems from the $313k in investments (all rental houses) my parents were planning to use for their retirement.</p>

<p>I have written a letter detailing our $300k worth of mortgage to pay off, the fact that I don't really want to use up my family's retirement savings, and finished off asking them graciously to please lower the EFC by only a little (since we've only set aside about $11k for state school tuition before I fell in love with Pomona).</p>

<p>Should I send this letter in now before FA and decisions come out in hopes of influencing the FA decision? Or should I wait for a hopeful acceptance before appealing within the 2 week time slot? Is retirement savings even a good reason to appeal?</p>

<p>Thanks so much for your help!</p>

2

<p>Probably shouldn’t have applied ED then…</p>

3

<p>You can appeal, but they will look at your parents’ financial situation, regardless of purpose. Good luck!</p>

4

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<p>The OP would have gotten the same package and, in all likelihood, similar offers from other selective schools with excellent financial aid plans.</p>

5

<p>You can break the EDII contract if another school gives you more money.</p>