<p>I just received an email from my dream school letting me know that my financial aid "award" was available to be viewed. The only money I'm getting from them is the 17,000 per year merit scholarship I got. Nothing else. Which means they expect me to pay 40,000+ out of pocket per year. Here's the problem. I have a single mom, that's a teacher (tiny salary) with breast cancer. She had some land that she sold this year, worth about 40,000 to pay for her medical expenses and a new car since hers finally broke down. My dad has been out of work for a year now because of the economy. I tried to call the school and tell them about my personal situation, and they basically said sorry about my luck. HOW IS THIS EVEN POSSIBLE?????????</p>
<p>What school is this?</p>
<p>If this is a public school, are you “out-of-state”?</p>
<p>Does this school promise to “meet need”?</p>
<p>What is your EFC?</p>
<p>How “tiny” is your mom’s salary? Is this in Texas?</p>
<p>It sounds like this is a private school if COA is $57,000.</p>
<p>Many families cannot afford private colleges.
Do you have any acceptances to schools that are more affordable?</p>
<p>Hey guys. I’m waiting to hear back from two schools, and I’m getting really nervous! I’ve already been accepted to UT Austin, Tulane (w/scholarship), SMU (w/scholarship), and Northeastern. I’m waiting to hear back from NYU (bio major, not Stern or anything crazy), and Northwestern (bio major). Chance me please, before I go crazy. I’ll chance back.</p>
<p>SAT: 1960 (750 CR, 560 M, 690 W) I know my math sucks…
ACT: 28 </p>
<h1>AP’s: English 3, World History, English 4, Art History, Statistics, Biology, Psychology, Gov/Economics</h1>
<p>Did you apply to any financial safety schools?</p>
<p>Most/all of the schools that you applied to do not promise to meet need.</p>
<p>I’m curious as to what your EFC is since at least you should have been offered a 5500 loan and maybe some work-study as well.</p>
<p>Texas - do you have affordable options? The expectations of your “dream school” are clearly a nightmare, I hope you left yourself some other options!</p>
<p>It sounds like the OPs school does not meet the full need of accepted students. </p>
<p>I hope you have other options that ARE affordable on the application list.</p>
<p>What school is this?</p>
<p>UT Austin
Tulane<br>
SMU
Northeastern
NYU
Northwestern </p>
<p>The ONLY school on this list that meets full need for all accepted students is Northwestern. Their RD decisions have not yet been sent…and they also have minimal scholarships.</p>
<p>The OPs EFC would not really matter much at any of the other schools because those schools do NOT meet full need…and very often “gap” their students. </p>
<p>I’m hoping the OP is instate for UT Austin and can afford the instate cost of attending which would be far less than $40K per year.</p>
<p>At a private school a 17K merit scholarship is very generous. It doesn’t really make sense to apply to those types of schools if you can’t pay at least half the cost unless you know – by doing the financial aid calculators - that your EFC is going to be super low. School teachers are low paid, but not poverty level. Most schools will consider medical expenses though, so when you did your financial things I hope you put those in the special consideration area. Make sure Northwestern Financial aid office is aware of that - it might help.</p>
<p>It’s really sad how high schoolers pick “dream schools” without an adequate understanding of the realities of cost. They wouldn’t plan an automobile purchase by researching a “dream car” based on features alone, not price.</p>
<p>The US median annual household income is around $51,000, according to [U.S</a>. median household income up 4% at end of 2011 ? USATODAY.com](<a href=“http://www.usatoday.com/money/economy/story/2012-02-09/income-rising/53033322/1]U.S”>http://www.usatoday.com/money/economy/story/2012-02-09/income-rising/53033322/1). That suggests to me that the vast majority of students need to be looking at in-state public colleges for affordability. Commuting to a community college is often a practical choice. Very brilliant students from middle and low-income families can indeed get their way paid to top private universities. Such generous funding is just not available to most students, however.</p>
<p>It can’t be NU as they are very generous for a private. If the OP’s EFC is reasonable I doubt they would expect more than $6-8K in loans for the student. I believe they have a $20K cap on loans for students in UG. See below:</p>
<p>Debt Cap Scholarship</p>
<p>Summary: The University will cap federal need-based loans (Federal Perkins loans and Federal Subsidized Stafford loans) at $20,000 for students receiving Northwestern Scholarship assistance.
Eligibility: Students will be offered the Debt Cap Scholarship based upon institutionally determined financial need. Read more about the Debt Cap Scholarship Program in Debt Cap Scholarship Policies (pdf).
Award range: $300 - $9500. Students will receive additional scholarship assistance to replace approved loans that exceed the cap. These additional funds will most likely be provided at the beginning of the senior year.</p>
<p>Well the thing is, op has a 17K merit scholarship. NU is need only as are many other top schools - so it’s not NU. The schools that give 17K merit scholarships will give more to super low EFC families, but otherwise, that’s about it. That level of discount from a good private school is still very helpful, as long as you can pay the rest yourself.</p>
<p>OP I’m curious did you run any of the college’s on-line costs calculators? Are your packages coming in wildly different from the calculators. I’m more curious than anything. Finally, what did your parents tell you they can pay (and was it close to their EFC?) and after scholarships what kind of difference are you trying to close? Financial aid is no joke, but if you know your EFC and run some of the calculators there shouldn’t be too many surprises. Did you include your family medical bills in your finaid form comments and did your parents check dislocated worker for your father when they filled out the FAFSA?</p>
<p>^^^</p>
<p>Since parents are sep/divorced, the dad’s work status wouldn’t be included on FAFSA.</p>
<p>I don’t know how medical bills are handled…don’t you have to take them to the FA offices and show them what insurance didn’t cover? </p>
<p>texasgirl…how much in medical bills did your mom have last year that wasn’t covered by insurance? Only include last year’s bills.</p>
<p>From another thread, it looks like the merit aid is from Tulane. I wonder if the OP is a URM because the scholarship was generous for stats.</p>
<p>Sorry, I read over the “single” mom part. For profile schools I do believe there is a comment section where you can tell them what medical bills weren’t covered by insurance. It can be considered but I don’t know what they require for proof. </p>
<p>The average teacher’s salary is lowish average in Texas, but housing cost are low generally in Texas so it all comes out in the wash. The land that was sold doesn’t help the OP this year and could have added a couple thousand to the EFC. But if the OPs family can’t contribute more than their EFC the OP is definitely in that donut hole with private colleges that don’t meet need especially if the OP isn’t at the tippy top of candidates. If the OPs family can’t afford their EFC then the OP’s list hopefully has some college that might be remotely affordable. It’s an odd list of out of state colleges although maybe it was put together by location: NY, Chicago, Boston, New Orleans…</p>
<p>Some thing does not add up. Is there a house with a large amount of equity, or trust funds or large savings or investment account? If not, there has been a mistake in interpreting your FAFSA or if a private school the FAFSA and CSS Profile. You have the right under federal law to request what is known as a Professional Judgment Review. Request it ASAP to the financial aid office and provide proof of your mother’s illness, medical bills, father out of work, etc. Include everything that relates to current financial hardship and relate it in a carefully worded letter. Be factual without overtly trying to appear begging for help. Some schools have their own form for this review and have a short appeal period. Do this right away. Good luck.</p>
<p>Things do NOT have to “add up” at schools that don’t meet need. Tulane doesn’t meet need.</p>
<p>That said, Tulane does require CSS and NCP info. </p>
<p>Texasgirl…did CSS Profile get submitted? Did your dad submit the NCP info? Has your dad remarried? If so, does his wife have income? If not, then how does he live?</p>
<p>Danielle we don’t know what the OPs EFC is. Also as mom2 says these are colleges that don’t meet need so it’s almost a given that the OP will be gapped between the EFC and the total cost. I’m more curious about what the OP and the mom expected the finaid packages to look like and it would help all of us in assisting if we knew what the OP CAN afford otherwise we’re all just speculating.</p>
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<p>There is a section ON the Profile where you can explain any other information that would be important to know. This could include the medical issues. </p>
<p>If the NCP father is not working, his NCP Profile will reflect his low or no income and will not impact need based aid at schools that meet full need.</p>
<p>BUT the besides Northwestern…NONE of the schools on the OPs list guarantee to meet full need.</p>
<p>At this point, the OP needs to just wait and see what happens. Perhaps he/she will be accepted to NU with an excellent need based aid package. </p>
<p>If not…hopefully one of the schools (UT??) is instate and the family can afford the costs.</p>
<p>Thumper…</p>
<p>We don’t know if the dad has remarried and his wife may have an income. Or he may have something he’s been living off the last year…severance? </p>
<p>Unless this student is a URM, I don’t see her getting into the top schools that give the best aid because she has a low Math section on her SAT.</p>
<p>I don’t know why she calls her mom’s teacher salary “tiny”. I understand that teachers may feel that they should get paid more, but unless she’s a new teacher, her salary wouldn’t be “tiny” unless she works for some private that doesn’t use a decent pay schedule grid.</p>
<p>I think what’s hurt her EFC is the $40k from the land sale. That is going to get hit harder EFC-wise than regular income. </p>
<p>The student mentions buying a new car. That could be $25k or more. </p>
<p>The break for medical expenses isn’t for the first dollar…I think it begins at some % of income. And, it’s not a dollar for dollar allowance.</p>