I was admitted to Harvard’s Class of '21 in the early round (YAY!) and on my app, I indicated that I was not applying for financial aid. My financial situation hasn’t changed, but my parents decided they want me to apply for financial aid. We have a high income but also high spending (medical bills for siblings, high cost of living, etc…fun stuff).
My questions are: 1) Is it possible for me to change my mind and apply for financial aid? 2) Can this have ANY negative effect?
THANKS!
You should cal the Admissions Office to alert them you would like to apply for financial aid, and then you (or your parents) should complete the FAFSA and CSS Profile by the March 1st deadline.
^^ I was too late to add: your parents should run the numbers through Harvard’s Net Price calculator to project the likely outcome: https://college.harvard.edu/financial-aid/net-price-calculator
FWIW: While your parents medical bills for your sibling will lower your family’s overall Expected Family Contribution (EFC), your family’s high cost of “fun stuff” will NOT lower the EFC. For example, if your family has the money to take a lavish family vacation every year, Harvard expects that “fun-money” to be thrown at tuition, room & board rather than on vacations.
If your parents net income is over 200k per year don’t expect any help. High cost of living is not going to help you
^^ Actually: https://college.harvard.edu/financial-aid/how-aid-works/fact-sheet
My reading of that statement: If your parents can still afford “fun stuff” while paying for high medical bills for your sibling, it’s highly doubtful you have extenuating financial circumstances.
I agree with @gibby 100%, and will add, with hesitation, that it might not really matter if you meet the March deadline. Princeton has a similar deadline but will give full consideration to FA applications made even after tuition has been paid and the student has begun classes, and I believe I’ve read that Harvard’s policy is similar.
Please don’t rely on this because 1) I might be wrong and 2) there’s no benefit in delaying.
@Sherpa is correct. Student’s at Harvard can apply for financial aid after the March 1st deadline, and it will not effect the amount of money a student receives. However if they do so, their request for aid goes to “the back of the line” and the student may not hear from Admissions about their aid until after May 1st, which is the deadline to accept a spot in the class (which is a firm deadline).