Financial Aid Packet

<p>I was given my EFC and student contrib over the phone (didn't have the rest of the info available), but it was outstanding.</p>

<p>just so anyone knows. the deadlines for this financial aid stuff is never set in stone. i turned in my fa stuff like late may because i totally put cornell on the back burner and i still got really good fa.</p>

<p>great idea qkslvr! thanks
can i ask how long it took them to reply to your email?</p>

<p>hmm, that financial aid initiative says you have 12.5k in parent contribution if you have 125k in income and 200k in assets. what you guys think ill have to pay with like 145k in income and 300k in assets?</p>

<p>lol the initiative's "calculations" are total bull$hit, don't believe a word it says.</p>

<p>145k in income and 300k in assets, expect to pay at least 35k.</p>

<p>really? 35k not including loans or including loans? Cuz if it didnt include loans, then those sample calculations are completely off or something D:.</p>

<p>cuz i would have hoped that if 125k in income and 200k in assets led to a 12.5k parent contribution, 20k more in income and 100k more in assets would lead to no more than like a 28-30k parent contribution, and even that in itself makes it not very pleasing.</p>

<p>anyone with like a 150k income get a good package? anyone care to share? and do you guys think with my financial situation i could get 10k in grants?</p>

<p>I can tell you specifically, my family had originally 150k in income and around 300k in assets and our expected parental contribution was originally 44k.</p>

<p>I know this has been asked about 1,000,000 times, but does the house you're living in count as part of your parents' assets?</p>

<p>yes. 10char</p>

<p>^I don't think it does, my parents house is valued a fair bit over 100k (and is grossly undervalued on the form that they wanted to list house value from) and is paid in full, but they still gave me aid as if I had under 100k in assets (practically no EFC, and will have no EFC starting in the fall). Maybe if you have a house that is worth a ridiculous amount they do, but for me they couldn't have based on the aid I received.</p>

<p>irarchiedw: it took them one day to reply to my email -- they told me that they'll send the FA package in the mail tomorrow and also email the file to me tomorrow. And they did :)</p>

<p>My total income was around 61k, which is very close to 60k... 5k in EFC and 2k in student contribution (my bad for writing 7k EFC before).</p>

<p>Also, the house that one is living in does not count as asset.</p>

<p>"hmm, that financial aid initiative says you have 12.5k in parent contribution if you have 125k in income and 200k in assets"</p>

<p>***??? I have 75.5K income and 100k in assets and the EFC said 12.5K. Something is wrong!!??</p>

<p>Should I call them up or something. I really think my EFC shouldn't be more than 8k...Not even that, but I have a sibling in college paying 18k a year. I don't understand how in the world my EFC is that high....</p>

<p>@chendrix</p>

<p>if you dont mind me asking, does that figure you provided include loans or no. so did you get no grant aid at all? and when was this?</p>

<p>and @ hermanns - the amount that your house counts usually depends on ur income. i mean, if your parents made only like 30k a year, then the value of your home would be capped off at 2.4 x 30 = 72k. and correct me if im wrong, but i heard that the whole group of those colleges are gonna start/ started to cap home equity at 1.2x family income.</p>

<p>does anyone have a positive answer as to whether home equity is capped at 2.4x or 1.2x or not counte?</p>

<p>This was this past year, and it was the figure that included tax returns showing my family's salary before job cuts and downsizing.</p>

<p>It was maybe 5000 in grants, and also included a 2500 loan.</p>

<p>Thankfully they listened to my appeal and I got my FA increased in light of news I showed them.</p>

<p>STILL no FA...officially panicking!!!</p>

<p>send them an email... They havent finalized everything with mine but they were able to give me a rough estimate (Which was great).</p>

<p>i did that yesterday...no reply...yet
i guess i should call them soon</p>

<p>does anyone know how they count the value of the home as an asset?</p>

<p>is it not capped, or capped at 1.2x or 2.4x your income? :O</p>

<p>^ same. I'm gonna email them tonight and call them tomorrow :/</p>

<p>i just got mine today!!</p>

<p>Tuition: $52,000
Financial Aid: $40,000
Expected Family Contribution: $12,000</p>

<p>im pretty pumped, because my parents could only pay up to $20,000....now im down to just over 10 k</p>