Hello, I am a high school junior planning to apply to Northwestern University for Early Decision. I realize that Early Decision is binding but NU is my first college choice and I want to take advantage of the higher acceptance rate of Early Decision candidates.
My parents’ income is about $35,000/year (combined) and I am going to fill out the CSS profile and the FAFSA if I do get accepted to NU. But I’ve read a few stories online where the accepted student had to give up going to NU because the financial aid from the school wasn’t enough to fully meet their needs because of the weird algorithm CSS profile uses.
What I’m worried about is that if I do get accepted to NU for Early Decision, I have to withdraw all other college applications. If I don’t receive the financial aid from NU that I need to attend the school, what happens to my Early Decision contract? And since I would’ve had to withdraw all college applications from other schools, will I not be allowed to attend any other college? I’m very confused on how this process works.
I realize that this might not necessarily be a “financial aid” question, but I felt like because this problem would be caused by a financial aid issue, I figured the financial aid forum would be the best place to post this.
Any type of responses will be greatly appreciated. Thanks in advance.
If you get accepted to Northwestern early decision, you will receive an estimated financial aid package with your acceptance. This will be based on your early submission of the Profile…which will be due probably in November…check their website for the deadline for ED applicants.
Your estimated profile needs to be as accurate for the 2015 tax year as possible.
So…you would get an ED acceptance, and the estimated financial aid award…and would be given a deadline to respond. You do not with draw your other applications until your accept the ED offer from NU. You will only have a few weeks to make this decision…not until all your other acceptances and awards are in…
If the financial aid is not sufficient, you can decline the ED offer of acceptance.
And to clarify, the CSS Profile does not have algorithms. The CSS Profile is a form that provides data to the SCHOOL where they decide how to use that information in providing financial aid. Are either of your parents business owners? Or do they own assets like property?
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and I am going to fill out the CSS profile and the FAFSA if I do get accepted to NU.
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No…you will provide FA info BEFORE that. You will submit FA forms by the ED deadline, which could be in early November…You’ll need to check dates.
You will not really be “taking advantage” of increased acceptance rates. That’s not what is going on. Your chances of acceptances aren’t increased by applying ED. It’s not like 3 students with inadequate stats have a higher chance of being accepted.
Anyway, be sure to apply to your financial safeties in early fall as well. don’t wait til your ED results come in…because that can be too late for the safeties’ merit awards.
Do your parents own a business? Are your parents together?
Other people’s financial situations likely have nothing to do with yours. There is no algorithm, weird or not. There is a fuller look at your financial resources than the fafsa asks about. So if you have more resources you will be expected to use them. If you have no assets then there shouldn’t be anything else and the NPC for NU may be pretty accurate for your situation.
Yes you will need to do the CSS early in the fall when you apply ED. Your estimate will only be accurate to the extent that your FAFSA, which you file early in 2016, matches the income figures.
Thank you so much everyone for clearing things up for me they make so much more sense now lol xD
My parents do not own a business, they work for my aunt at a dry cleaner store. We live in an apartment so I think the only “assets” we have are two cars (I’m not sure if cars actually count as assets tho lol).
And as for the “increased acceptance rate,” I just checked on the website again and turns out that i misread “45% of incoming freshman class” as “45% of early decision applicants” xD
Thanks everyone again for your very helpful responses, they will help me greatly for my college applications process
Do you have any siblings? You might qualify for Questbridge. Northwestern (and many other elite private - and one public) is a Questbridge partner school. If you are selected for the QB College Match program, you will essentially be able to apply ED to 8 partner schools without having to pay application fees. There is a lot of helpful material on the QB website, and a summer seminar that helps to inspire and instruct selected students on the college application process. My son qualified and was able to apply to Stanford, Yale, Notre Dame, Chicago, Northwestern, MIT, Washington & Lee, Amherst, and Swarthmore with no application fees. Amherst flew him in for a visit at their expense. They accepted him RD on Friday and offered him a FA package that would make it cheaper for him to attend than it would be to attend two nearby colleges as a commuter.
Can you tell me more about Questbridge? I have one older sister 28 years old and she recently graduated from Michigan State (our family moved from Korea 8 years ago so it took her longer to graduate)
There is a forum on this website dedicated to Questbridge. It is an non-profit that seeks to encourage low income students to apply to highly selective colleges. If you apply, you will be required to submit grades, test scores, letters of recommendation, etc. very much like completing a college application. In the summer before your senior year, you may be invited to a day-long seminar that educates you and one of your parents on the application process. The one we attended was actually at Northwestern. There were representatives from all of their partner colleges there and the students had a chance to meet with them. In the fall of your senior year, they accept applications for their college match program. If you are selected for the College Match, you can apply to as many as 8 partner colleges. You list them in order of preference. If a school selects you they will offer you a “full scholarship,” With the exception of MIT, Yale, and MIT, I believe all of the offers are binding. I have heard that you cannot be matched if your FAFSA EFC is not 0, but I don’t know if that’s true. Even if you are not matched - my son wasn’t - the schools will consider you for Regular Decision. Some will move you to Early Action or Early Decision if you wish. Many of the partner schools that you did not select for the Match will more or less beg you to apply. Very few QB applicants get matched, but many of them do get admitted through RD with very generous FA packages.
My son’s results: wait listed at Notre Dame, Chicago, 'Washington & Lee, and Stanford. Accepted at Northwestern and Amherst. Denied at MIT and Swarthmore. Still waiting on Yale and Princeton.
Oh my gosh, I’m so happy that I got to discover this awesome program I was actually somewhat worried about all the application fees that I’m going to have to pay but I guess I don’t have to worry about that anymore. Thanks you so much!
I think it’s too late for Questbridge match for starting college in fall 2016.
Did you try the net price calculator on NW website? Put in your family’s numbers and see what aid it estimates for you.
For lower income families NW is supposed to be pretty generous.
If you are worried about application fees, did you get a fee waiver for SAT? If so you should have 4 application fee waivers in your college board account, you should also be able to apply to common app schools for free if your GC confirms your eligibility. Also some colleges give out fee waivers through email, for visiting, if applying by a certain date.
I hope your aunt pays your parents as employees and issues a W2 for them.
You are probably better off collecting acceptances and aid awards to land your best fit college. Placing all your eggs in an ED basket in your financial circumstance is not suggested.
Think about buying a new car. Say a Honda Civic. You really want to get it before the end of the weekend. Are you better off committing to one dealer today and taking their deal? Or opening up your search to say 5 dealers in the metropolitan area and seeing which one provides the best deal overall?
Thank you! We heard that if you are accepted by ED, you have to go even you don’t get enough financial aid from the college since you are binded with them.
So i can reject any school’s ED acceptance if i don’t get enough Financial aid and switch to other schools which accepted my at RD, is that right?
I was actually somewhat worried about all the application fees that I’m going to have to pay but I guess I don’t have to worry about that anymore. Thanks you so much!