<p>Hi..
I just got my aid offer from Wesleyan. however, it was much less than what I expected.
My FAFSA EFC is about 1050, and, Wes is asking for about 13,500 from my mother. Her income is about 17000. which I feel is too high - about 75% of her income.
We don't have a lot of assets either. - Cash and Savings = 22000
Real Estate - (projected value) = 44000
Business value = 32000
The last two are just projected figures, and not cash in hand.</p>
<p>Secondly, they are asking for 3800 from my side, which I think is a little too high, but I'm alright with it if thats what they are asking everyone for....</p>
<p>Thirdly, their website states that they wont give loans to those whose income is below 40k. - should i mention this in the email i send them- because they have included some in my package?</p>
<p>PS - my non custodial information has been waived.</p>
<p>Wesleyan claims to meet full need, so that sounds all out of whack - are you sure you got everything correct on the Profile? Double-check the numbers you sent them.</p>
<p>However, Wesleyan’s institutional determination of your need may be different than your FAFSA EFC. The gap between the two shouldn’t be that large, though, based on what you’ve said here.</p>
<p>Ask them how they calculated the “business vaue” you mention in your original post. Or better yet take a close look at how you valued the business and then call and have them go through their calculations. There are many different methods for valuing a business dependent on what type of business.</p>
<p>ok momofthreeboys, thanks for your input. Its a schedule C business- sole proprietorship.
As far as i know, the value is the sum of raw materials, expected price of machines and other items (if sold), etc…<br>
however, i will check with my mom regarding this…
what should it include acc to you?</p>
<p>Actually, I meant the schedule C from the 1040 – but the business/farm supplement should have the same info. </p>
<p>Is that business value number something you & your mom put into the forms, or is that something you see on forms that Wesleyan has given you? You didn’t list a business asset on the FAFSA, did you?</p>
<p>Also, is the real estate your home, or does your mom own separate real estate? Same question as to the real estate – is the value a number you supplied, or that Wesleyan came up with – and if it is your (or your mom’s) estimate, how was it determined?</p>
<p>Business value amount -Thats something we put in the css profile - not Wes.</p>
<p>No, we dont own a home. Its a separate real estate. - a value we supplied on the profile.
It was based on its current market value, as evaluated by real estate agents.</p>
<p>These are questions you need to be asking Wesleyan’s financial aid office, not us. Call them and ask a counselor to explain your award package and why their institutional definition of your family contribution was so much higher than the FAFSA EFC.</p>