<p>The money that goes into retirements funds in Singapore cannot be changed as it is mandatory as specified by the government. If I’m not a wrong a fixed 15.5% of a person’s pay goes into what we call the Central Provident Fund. This means that If my father earns $10000, he will only see $8450 in his bank. We are digging into our savings and stopping savings for the next 4 years, and I put that as part of my EFC. Any extra will come from potential bonuses/, something that I felt I needed to leave alone just in case of exchange rate fluctuations. As I’ve said before, I don’t think Singapore can maintain its strong currency forever.</p>
<p>@mini My mom and I don’t make that kind of expenses without serious thought. We do like quality so we choose to buy expensive at times but it lasts longer too. I’d rather have $100 spread over 2 years than $20 spread over 2 or 3 months. Because of this my wardrobe is probably half (I would say even smaller) the size of my peers’. While they have numerous articles of clothing costing at an average of $30, I only have a few, albeit costing twice of theirs. In fact I spend much less than them overall. Anyway having things that last longer also means less stress on the environment.</p>
<p>Anyway Smith declined to increase my fin aid award. I mentioned Mt Holyoke offering $5000 more and they told me I’ll have to make a choice in this case. I told them straight that what I want is Smith and not MHC, and it is just not financially viable but they didn’t budge. I don’t know if this is because I’m an international/I’ve already went through one round of re-evaluation. Maybe things could have been better if I sent them the MHC letter during my first re-evaluation. So right now I’m seriously debating about Smith in 3 years instead of 4. 4 will only be possible if the Singaporean currency strengthens further - not very possible imo.</p>
<p>“@mini My mom and I don’t make that kind of expenses without serious thought. We do like quality so we choose to buy expensive at times but it lasts longer too. I’d rather have $100 spread over 2 years than $20 spread over 2 or 3 months. Because of this my wardrobe is probably half (I would say even smaller) the size of my peers’. While they have numerous articles of clothing costing at an average of $30, I only have a few, albeit costing twice of theirs. In fact I spend much less than them overall. Anyway having things that last longer also means less stress on the environment.”</p>
<p>That’s very nice, but low-income Pell Grant recipients at Smith, making up a quarter of the student body, don’t have that choice. “Serious thought” to spend $100 twice a year on a pair of shoes isn’t even an option.</p>
<p>I think they declined to increase your financial aid award because they didn’t find a real “need” (relative to other applicants and their budget.) As I understand it, they already increased your award once, for which you should be very thankful. </p>
<p>At any rate, congratulations on getting a great education, wherever you end up.</p>
<p>Sorry for not understanding, Yxyxyx. International students do indeed have it difficult when they try to go to the US for undergraduate education. Americans have a different perspective on saving/paying for education, and that tends to hurt applicants from overseas.</p>
<p>I think you’re going to love MHC. And you can always take a few classes at Smith.</p>
<p>Edited to add: I didn’t see the part about your deciding to do the Smith in three years option. Remember that your FA gets reevaluated every year, so things may change, perhaps for the better.</p>
<p>“Kym, let Smith know about the Wellesley FA offer; send them a copy and see what their response is. Let them know that you want to attend Smith but that $$ are an issue for your family.”</p>
<p>Yes, but only if Smith really is your first choice. The Smith RD thread is filled with early posts from students purportedly dying to go to Smith, who, after receiving an “admit” letter, reveal that they are still hoping to enroll at XXX school.</p>
<p>Smith couldn’t be more of my first choice.
I’m trying to appeal my financial aid because my father has to take everything out of his annuity and I don’t want to deplete everything (especially with my sister only a few years behind me). I’m absolutely going there but I want to see if it can be made more affordable.</p>
<p>Correct me if I’m wrong, but financial aid for internationals doesn’t get reevaluated every year- it is adjusted for tuition, but not reevaluated the same way American students’ financial aid packets are. You can petition them if something drastic changes eg major medical expenses, but otherwise your financial aid level stays the same as an international undergrad.</p>
<p>Exactly, my family contribution is fixed for my time at Smith, that’s why I’m so worried. There will be no adjustments for exchange rate changes I think. Since my family is moving and my sister is starting school in 2 years, travel expenses will go up by a lot (my father’s workplace is very near my current house, so is my sister’s future school) and I don’t think Smith will give me any extra based on that. Whether I have enough for 4 years really depends on the exchange rate. If the exchange rate remains at USD1=SGD1.26, then 4 years may be just about possible.</p>
<p>Yxy, I’m an American student who applied internationally. I applied to schools in New Zealand, and one thing the admissions officers there said I could do was transfer enough money for the first few years (or more, if I so chose) to a New Zealand bank to lock the cost in at a favorable exchange rate. I don’t know if this applies for Singapore–>US students, or if it would work in your circumstances, but it might be something to look into!</p>
<p>@elonraearaven That would be a nice choice IF I had the money now. Half my savings are are in a savings scheme ending this august, and another half is in my insurance account and can only be taken out at the end of next yr. The rest of my family contribution comes from my parent’s salary, which needless to say we’ll only receive every month. So right now the cash I have on hand is not even enough for 1 or 2 months at Smith.</p>
<p>yxyx, it seems that Pmyen is quite knowledgeable and you’ve been having a productive conversation with her on the other thread. Perhaps you could ask her if she knows a way for you to be able to release your money in a timely way that you or your parents haven’t thought of. It doesn’t hurt to ask. Perhaps you could PM her.</p>
<p>after getting in touch with Smith all that they could offer me was a $5000 loan
but my FAFSA was edited last night and my EFC rose dramatically so I’m nervous as to what this has in store for my Financial Aid</p>