<p>Conundrum here, guys. My parents' philosophy is that they will contribute X for my college education, and no more. I feel that it would be fiscally irresponsible for me to borrow any more than Y. However, considering that our EFC is too high to get financial aid, the total price of college will be roughly 3(X+Y). In other words, I won't be anywhere near able to afford going there.</p>
<p>My question is this: what are the chances of a college responding favorably to an appeal for financial aid money based on the circumstances above? (The college in particular does purport to "meet all need".) This college is by far my first choice, and I will stress that in my appeal.</p>
<p>Anybody that has any experience with the financial aid appeals process, please help me out here. Thanks!</p>
<p>Since financial need and subsequent awards are based on what the school beleives your parents can afford to pay and not what your parents are willing to pay it will be an uphill battle trying to get an appeal or financial review based on your terms.</p>
<p>(The college in particular does purport to "meet all need".) </p>
<p>I agree with Sybie. The operative word is "need," not "want." The college has the right to expect your parents to pay what they can afford, not just what they are willing to pay. If it were the case that it would cause them financial difficulties, then your argument to the college would be more persuasive. Can you talk to your parents again?</p>
<p>I am sorry that there were not a clearly defined parameters set regarding the amount of money parents could.would pay toward your college education before the application process began. I know that it must be disheartening to have been accepted into a school which you really want to attend and have it not be financially feasible to do so. It looks like you may have to move on to plan B the more affordable school which may end up being a wonderful place if you allow your self to b e open to the possibilities.</p>
<p>You've been accepted into some pretty great schools (Caltech, likelies at Duke & NYU)- congrats. FWIW, I tend to disagree with your parents as to it not being worth it but it's their money. Is there any possiblity of merit money coming in that may offset some of the cost? Since I am editing my post, I agree Voronwe with in asking if there is any way you can work afterschool, summers to help earn some if this (ask for $$ in lieu of gifts for graduation, birthdays)</p>
<p>I agree with the others - I know for a fact that there is a zero chance of an appeal working based on this scenario.</p>
<p>1)You say you are only willing to borrow Y. What about summer earnings and jobs during the year? My son was able to make $10,000 last year by combining his summer earnings with a business he started. I know MANY people who worked their way through school - my husband actually managed a 40-hour a week job (I am not suggesting that!) while going to school! </p>
<p>2) Also, is your Y figure reasonable? Could it go higher? </p>
<p>3) Finally, are you willing to tell us which school you are talking about? Some of us may know something about possible jobs in the area. I know kids NOT eligible at all for Financial Aid that got R.A. jobs that paid well, and at some schools they include a free room.</p>
<p>Just some suggestions.....</p>
<p>PS 4) My son has gotten nearly $20,000 in outside scholarships - some local, some regional, some national, some for one year only, some for all four ... have you tried that? It may be late for freshman year, but there are scholarships available for every year.</p>
<p>I think Voronwe poses a good question, have you really worked through how much you can contribute? You are a high achiever applying to great schools. While in most cases I'd never advise going out on a limb in terms of debt, your case could be different depending on what you plan to do career wise. I don't know what your financially affordable school is, but if it's a State school in AL, I might advise getting out on that limb. </p>
<p>If your goal is a high paying career, given your ability to achieve, I think loans higher than most are reasonable. Combine that with summer earnings and some school year earnings, apply for scholarships per Voronwe's suggestion and you can maybe piece this together.</p>
<p>Well, my goal isn't exactly a high-paying job, which definitely limits my options. I'd like to major (and go on to grad school) in physics, making the undergraduate school much less important in the long run (job-wise anyway).</p>
<p>The school is Columbia, and I've already thought of checking out the RA situation. I just don't see that it will bridge the gap between my parents and Columbia. Also, I have applied for quite a few outside scholarships. (I'll probably end up with about $5k for college this year, but...)</p>
<p>My Y is $30k. Considering that interest will compound through grad school (if I'm even able to defer payment), and starting salaries for post-docs are roughly $40k, the figure seems reasonable to me.</p>
<p>I'll definitely be working this summer, even if I choose the free ride option but I don't see that getting me anything more than spending money for the year at college. Working during college is also an option, but the most I could reasonably expect to make (working 15 hours a week) is $3-4k. Again, not enough.</p>
<p>I've run through these calculations before and noticed the impossibilities of getting the numbers to add up to where they need to be. I just wondered if laying out the facts for my family would cause the financial aid office to be more lenient.</p>
<p>I am really sorry that your family is not more willing to help out. Nothing ventured, nothing gained. Contact the finaid office at Columbia and see if there is anything that can be done. Would you qualify for one of the Rabi scholarships? As well, see if other colleges will spring for some merit aid if you were to transfer next year.</p>
<p>Awww, Columbia. $30K is a big pill for you to swallow (Are talking about you having to borrow this amount each year over the next 4 years?). </p>
<p>Aid is all need based (I think Elleneast, Sac both have kids there so maybe they will check in). I believe that Sac's son does bartending through Columbia and makes a pretty penny. In addition, there will be plenty of opportunities to do tutoring, waiters, even babysitting at for Columbia/Barnard neighborhood pays $10-15/hr. </p>
<p>You will definitely be limited on the amount of money that you the student can borrow. I am sorry that your parents have become entrenched in their position. would they be willing to atleast give you an interest free loan where you can work out the terms with them?</p>
<p>I'd have to agree that given your career goal, $30K in loans for undergrad is a maximum. As you say, undergrad institution is not as important and you will do well no matter where you go. Good luck!</p>
<p>Did you apply for Financial aid? Or are you assuming that you will not get anything in terms of aid? </p>
<p>Stupid question, isn't this dilemna going to be the same at the other schools unless you get merit money (NYU does not meet 100% of demonstrated need. they gap and it may be very unlikely that they are going to give you $30,000)? </p>
<p>Do you think that once the award letters come in that you will be able to negotiate any need based aid that you get (even though Columbia states they willnot negotiate). It is just a few more days until 4/1, take a step back and see what unfolds.</p>
<p>I did apply for financial aid and I'm assuming we won't get anything (based on the FAFSA EFC estimate). I applied to NYU and Duke basically in the hopes that I would get scholarship money. I may yet but have not gotten the big awards at either.</p>
<p>That's the question I'm asking (about negotiating, that is). I'm going to go ahead and try it anyway. I got my physics teacher (also a Scholar's Bowl coach) to write me another recommendation, and I'll send that in with my plea and see what happens. Regardless, it's not the end of the world.</p>
<p>"I'd never advise going out on a limb in terms of debt, your case could be different depending on what you plan to do career wise. I don't know what your financially affordable school is, but if it's a State school in AL, I might advise getting out on that limb."</p>
<p>Zagat,</p>
<p>I don't mean to sound overly sensitive here, but do you have more details to back up this suggestion? I believe BofP has indicated that he has a full ride option to the honors college at UA. Is a massive load of debt at another institution for an undergrad degree really a preferred option?</p>
<p>BofP, I've outlined my feelings about this before - go to UA, BUT. If your parents can help some, and you can work, etc maybe you can get the loan amount down to something reasonable, particularly for Caltech, I know you wanted Columbia, but Caltech, WOW! If you really want physics, that is an amazing place, if you get into that kind of research, maybe you won't care that you're eating Beanie-Weenies from now on (I'm only partially kidding, some trade-offs might actually be worth it, did you read the piece in the paper today about E.O. Wilson and his ants? He didn't exactly come from a wealthy background.)</p>
<p>Zagat, I'm sorry, but you are just plain off-base. Physics may not be UA's strongest suit, but a person graduating at the top of the class from UA will be able to find a good grad spot, I'd put it up against NYU any day. Teaching in hard sciences there is good, particularly when you get past freshman courses.</p>
<p>An aside BofP, SO at Samford was this weekend, SPS did as well as they have ever been able to do against the Big Boys upstate, they won a couple of medals, including a gold in Physics Lab of all things! (wasn't that the one you guys did won?) No one was more surprised than the winners, DD said they guessed right and studied the right formulae, because it was on optics which their physics class doesn't even get around to covering. She just had fun.</p>