I was just accepted to American University and am very confused. I applied to 5 private schools last year as a freshman (I applied to AU as a transfer) and thankfully received at least 25k from all of them, but American is only offering me 7k this year? My dad has retired within the last year, so money is even tighter. I have another sibling in school, an income that is currently 60% of what it was last year (when I was receiving 25k in grants from average private schools) and a net price of 54k with a EFC of 14k. That means I have 40k that I’m expected to take out in loans every single year? Did I file the CSS profile wrong somehow, or is the financial aid really that poor? I love AU and want to attend more than anything, but I am heartbroken. While I don’t like my current institution, they have similar financial aid as American (or so I was told), and I receive 32k a year in grants! I don’t ever expect money, but I did my research, discussed this with my advisor, and I was hoping to get a 24k grant. Any advice?
It may be that Financial Aid for transfers is much less “generous” than it is for first year students.
If there are significant assets reported on the CSS, that may be working against you. However, if your family has had a significant change in financial circumstances such that income reported for tax year 2015 is now much lower, AU should be willing to reconsider their award. I would suggest calling the FA Office and emailing them to summarize your understanding of any conversations. Keep all notes from phone calls (get names) and any email exchanges you have with them. Maybe a parent would help with those negotiations.
AU has been trying to shed its reputation that students graduate with tremendous loan debt, so maybe pushing back and requesting reconsideration will work in your favor. Good luck!
I’ve heard from a friend who attempted to go to American University as a transfer that they did not give him enough Financial aid at all. I think that transfer students get very very low Financial aid in general.
American University is not known for its generosity and it also seems to practice “preferential” packaging, i.e. the amount of financial aid you receive is not just a factor of your “need” but how much they want you. Moreover, transfer students frequently face a more difficult climate for financial aid.