<p>I am preparing an appeal of the fin aid award.
Is it better to ask for an increase or tuition remission of a specific amount, or, just to outline the facts and ask for a reconsideration in general?</p>
<p>The college website's financial aid calculator indicates much greater need than offered, but, still somewhat short. Do you recommend asking for what its own calculator estimates?</p>
<p>Thanks</p>
<p>is this a school that meets 100% of EFC? Have they done so?
Remember need can be met with loans/grants/workstudy.</p>
<p>Are you asking that EFC be lowered?</p>
<p>Are other schools offering larger need based packages?
If so, and this is the first choice school, and comparable to other accepted schools, that should be mentioned in your appeal.</p>
<p>If this school gaps- doesn't offer to meet 100% of need, then the aid package may not increase at all- or even if it does, it may go down quite a bit next year.
Most schools don't meet 100% of need ( am assuming this is private- in our experience public schools, even in state public schools offer little aid)</p>
<p>I would be as specific as possible. At one of my daughter's top consideration schools, their financial aid was little and didnt' even include all the federal grants and loans in which she qualifies. Her appeal will mention that this is one of her top choices, that she qualifies for x, y, and z at other such universities, and without an increase in aid, she'll not be able to enroll.</p>
<p>Their website states they are committed to meet demonstrated need.
Its my daughter's first choice, and other schools are substantially less expensive; including others with more merit offered.
I already mailed my letter to them. I suppose I can tell them about the other schools later?
a follow up letter?
According to their calculations, I have zero financial need.
But, their online calculator says differently though, by about $15,000; as does the fafsa and CSS.</p>
<p>I was always told that telling a fin aid rep about other, better offers will simply be greeted with a remark that perhaps you would be better off at that other school and not met with any sympathy.</p>
<p>
[quote]
Their website states they are committed to meeting demonstrated need
[/quote]
</p>
<p>My question is are they committed to meeting 100% of demonstrated need ?</p>
<p>There is a big difference in these 2 statements (if a school does not state that they will meet 100% demonstrated need, there will be a gap in your financial aid).</p>
<p>In aaddition a school can offer your students mostly loans and will have still met your need.</p>
<p>(as EK has already stated most schools do not meet 100% of demonstrated need).</p>
<p>could you tell us the school and hopefully we can help you put this in perspective?</p>
<p>U of Rochester is the school. A great choice for my daughter. Website says "committed to meeting the full demonstrated need of all admitted students." They did offer some merit $ and a small loan, but its way off of the demonstrated need per the fafsa, css and their online calc. </p>
<p>They do seem to be extremely helpful and receptive on the phone though.</p>
<p>It is not likely she will be able to attend, given the cost of some other schools. e.g. Syracuse is almost as expensive, but they offered significantly more merit money. </p>
<p>The U Del Honors program and UMass Amherst Honors will cost next to nothing in comparison, with their scholarship money. UMD honors, as well - significantly less. </p>
<p>Thanks again for your advice.</p>
<p>PS - or, maybe we just have to accept reality and tell my daughter she has to go to a less expensive, larger school. :(</p>
<p>According to US News, Rochester meets only 87% of demonstrated need, on average.</p>
<p>According to the college board, U of R meets 100% of demonstrated need.</p>
<p>You could always ask the FA office how they came up with thier methodology.</p>
<p>remember that the fafsa and the CSS profile use 2 different set of methodologies when calculating your EFC. This is the major reason for the disparity in the EFCs. </p>
<p>At minimum you file the FAFSA (at almost every school) to determine your eligibility for federal aid (Pell/ seog grants, stafford and perkins loans). Most public univeristies will just require the fafsa (the exception may be UVA, UNC- CH, Mich and a few others which may require their own forms)</p>
<p>The CSS profile is used at different colleges that distribute their own institutional aid (Many of these schools have much deeper pockets).</p>
<p>Many schools that use a federal methodology to determine EFC will require only the FAFSA. Schools that use an instutional methodology or a combination of the 2 will require the CSS profile or their own FA forms.</p>
<p>Differences between the IM and FM models are</p>
<p>IM collects information on estimated academic year family income, medical expenses, elementary and secondary school tuition and unusual circumstances. FM omits these questions.</p>
<p>IM considers a fuller range of family asset information, while FM ignores assets of siblings, all assets of certain families with less than $50,000 of income, and both home and family farm equity.</p>
<p>FM defines income as the “adjusted gross income” on federal tax returns, plus various categories of untaxed income. IM includes in total income any paper depreciation, business, rental or capital losses which artificially reduce adjusted gross income.</p>
<p>FM does not assume a minimum student contribution to education; IM expects the student, as primary beneficiary of the education, to devote some time each year to earning money to pay for education.</p>
<p>FM ignores the noncustodial parent in cases of divorce or separation; IM expects parents to help pay for education, regardless of current marital status.</p>
<p>FM and IM apply different percentages to adjust the parental contribution when multiple siblings are simultaneously enrolled in college, and IM considers only siblings enrolled in undergraduate programs.</p>
<p>The IM expected family share represents a best estimate of a family’s capacity (relative to other families) to absorb, over time, the costs of education. It is not an assessment of cash on hand, a value judgment about how much a family should be able to use current income, or a measure of liquidity. The final determinations of demonstrated need and awards rest with the University and are based upon a uniform and consistent treatment of family circumstances.</p>
<p>Except in the most extraordinary circumstances, Colleges classifies incoming students as dependent upon parents for institutional aid purposes, even though some students may meet the federal definition of “independence.”</p>
<p>Students enrolling as dependent students are considered dependent throughout their undergraduate years when need for institutional scholarships is determined.</p>
<p>For institutional aid purposes a student may not “declare” independence due to attainment of legal age, internal family arrangements, marriage or family disagreements.</p>
<p>Your COA (cost of attendance) is tuition, room board, books travel expenses and some misc. expenses associated with attending college.</p>
<p>There could have been things in the profile (home equity, are you self employed) that could skew your EFC which will account for the disparity between the fafsa and the what you got from UofR.</p>
<p>Thanks again.
Yes, I am self employed. I did discuss the methodology with them and income is the most weighted variable. Perhaps its the old story of assuming that anyone who is self employed is in better shape no matter what the AGI? When in reality, the costs, overhead, insurance, payroll (even for a couple of employees) take huge chunks out of the gross.</p>
<p>Anyone know how the CSS is calculated when it comes to home equity? Our EFC as per FAFSA is 16,800 HOWEVER the equity in my home is about $250,000. How much will the IM add on due to that alone??</p>
<p>Different schools look at home equity differently. For example Princeton and starting next year stanford, does not factor the home equity in your primary residence. Other schools cap home equity at 2.5 times your annual income.</p>
<p>attaching the following link as I would defer to sblake and Calmon who IMO are really good subject matter experts on this topic</p>
<p>I would also use the search function to find threads on home equity.</p>
<p>hope this helps</p>
<p>Rablaw, I would suggest that you ask them to go over figures and ask whether they have made adjustments to your AGI in determining need, and if so, what factors they considered. You may find this article re self-employment & financial aid helpful:
<a href="http://www.smartmoney.com/consumer/index.cfm?story=20010411%5B/url%5D">http://www.smartmoney.com/consumer/index.cfm?story=20010411</a></p>
<p>Anyway, if they have made adjustments (adding back in some of the deductions from the EFC), you may be able to get them to reconsider if you can document the necessity for various business expenses.</p>
<p>Rablaw:</p>
<p>We are in exactly the same predicament as you with UR. D's first choice, loves the place, but THEIR calculator pegs our EFC at 11K, and they are offering no need, expecting us to pay 30K!</p>
<p>Anxiously waiting other fin. aid offers so we have something to compare this to.</p>
<p>Good luck</p>
<p>Great article, calmom. Thanks.</p>
<p>MADdad- good luck to you too. Very frustrating, not to mention all the anxiety</p>
<p>My advice...bring them boxes of chocolate. Nothing soothes Financial Aid Counselors better than chocolate. It doesn't "buy" their decision, but it helps put them in a better mood, so you won't at least get an attitude. Trust me...This works most of the time...at least in my office :)</p>
<p>How do you ask for reconsideration? In writing on the phone?</p>
<p>Should the student call?</p>
<p>Advisor or director? Help please.</p>