<p>so the way it looks right now, i won't be hearing about my financial aid package until april because of an error that was made when i sent my css profile to penn back in october (i was accepted ED).</p>
<p>financial aid is of the UTMOST importance to my low-income family (well, my mom is low-income and my dad has a moderate income, approx. 60k?/year, and my parents are divorced)...and basically i want to know if i have anything to worry about.</p>
<p>as far as i can tell, penn is really good about making it financially possible for the families of undergrad students to pay for penn. </p>
<p>someone make me feel better?</p>
<p>It's impossible to say without knowing every detail of your financial situation. (The value of your parents' house is just as important as how much they make). </p>
<p>However, you're coming in at the best time ever, financial aid-wise. Your package from Penn will probably be loan-free. Look forward to that. (And if you do have to take out student loans, rates couldn't be better).</p>
<p>Im not really sure if house value is important to the aid package. They dont expect you to sell you home to pay for college or anything. I have an expensive house but a low income and got an excellent package. Don't worry about it. They'll take care of you. (and as a bonus this year: no loans!)</p>
<p>are you sure you won't be hearing back till April? I got mine reevaluated and changed in less than two weeks and i was accepted ED too</p>
<p>Home value is actually extremely important to your aid package, and is used by some schools (Ivies, for example) heavily even though it's not prominent on the FAFSA and PROFILE stuff. </p>
<p>What makes estimating tough is that it's based on many factors, but people tend to only talk about income.</p>
<p>realicecream08...</p>
<p>i'm pretty sure i won't hear until april because mine wasn't evaluated in the first place because i screwed up typing in my social security number when sending in the profile, so they didn't get the profile until i had the college board resend it.</p>
<p>...but i did e-mail SFS a few days ago to check, so maybe something will happen before april.</p>
<p>thanks for all the input!</p>
<p>quick question from a junior. penns website says that youll be notified of financial aid packages at the same time as you are notified of your acceptance, but how does this work for EDers since the fafsa is only filed after jan. i assume that the css profile would be used instead. am i correct on this?</p>
<p>also, i plan to apply to penn ED next year if their new financial aid plan is what i imagine it to be. id have to pay my efc, but since my parent's income is below 100000, id get the rest in grant money? if this is true, then id def. apply ed. but what do they mean when they say if your parents "adjusted" income is 100000? by adjusted do they mean taking into account savings, house value, etc.?</p>
<p>i know this has A LOT of questions, but a response would most definitely be more than appreciated.</p>
<p>I got in ED too and messed up my financial aid application. They said I wouldn;t hear back until spring, but I got mine today... and its not good..</p>