<p>I applied SCEA and got accepted. I don't have my financial aid offer yet, but I used the net price calculator and my parents' expected family contribution should be around 17K a year. This is a bit much for my parents, who are only willing to pay around 10K a year.
However, I noticed that itemized deductions aren't really covered on the NPC, and my parents have a lot of deductions lol (like tithes and things). Will this factor in to my actual financial aid? Did anyone else have a high estimate on the NPC and had a much lower EFC on their actual financial aid offer?</p>
<p>First off, Congratulations and welcome to Yale! </p>
<p>Most colleges, including Yale, through the FAFSA and the CSS Profile, use your parents’ Adjusted Gross Income (AGI), which is line 37 of IRS 1040 to calculate financial aid. In addition, if your parents had any money deducted pre-tax for a retirement plan, that money is added-back to the AGI for the purposes of calculating financial aid. Itemized deductions for such things as mortgage payments, state taxes, tithing etc. are not factored in when calculating financial aid. This is true for Yale and I believe it is also true for the vast majority of selective colleges across the country. See: [Financial</a> Aid for Prospective Students In-Depth | Yale College Admissions](<a href=“Affordability: The Details | Yale College Undergraduate Admissions”>Affordability: The Details | Yale College Undergraduate Admissions)</p>
<p>The NPC is a pretty reliable ball park figure; your actual aid may differ slightly, but I cannot imagine it dropping from 17k to 10k. Please ask your parents to look at the room, board & tuition for your flagship state school – most state schools are 17k and above for in-state residents. You are basically going to Yale for the equivalent (or less) of your state school.</p>
<p>I’d suggest getting an actual award finalized before worrying too much. The cost of attendance and the financial aid award in themselves are confusing and it took me approximately 6 months to figure out exactly where the money was coming from and how it was allocated. </p>
<p>That said, SFS are pretty generous about this sort of thing, and if you explain your circumstances to an admissions officer, you might be able to convince them to boost your award up. If all else fails, you have the option of direct subsidized loans, which you will not have to repay until after graduation and interest (3.4 rate, iirc) doesn’t start accruing until the day after graduation.</p>
<p>(on an encouraging note, my actual award was about 10k higher than my net estimate)</p>
<p>Thanks to both of you!</p>