For some reason, my mom insists I get a job to “help pay for the costs of college” yet is adamant against applying financial aid. She seems to be sending a mixed message, so I just wanted to look into this a little. Each college is a little different based on cutoffs and determining who is eligible for aid, so if any Vanderbilt parents could share some insights, it would be appreciated.
FWIW: I feel like some parent is going to side with my parents in regards for getting a job and what not, but please keep this thread on the topic of financial aid because there’s more involved than what went in that first paragraph
What factors, if any, go into determining whether a person is eligible for financial aid? (Examples of “factors” may be parent/sibling with cancer, disability, etc).
About what is the cutoff for financial aid at Vanderbilt (based on experience), and about how much is received? I don’t know enough of my parent’s financial information to use a calculator, and my parents won’t tell me the stuff I need to know.
Just a final word, I am not “poor” by any means, but neither am I rich where my family can simply write a check to pay for my 4 years of college. My family is in that grey area, so the FAQ stuff/information provided the office of financial aid isn’t really helpful for me.
Vanderbilt provides financial aid in the form of grants. They pledge to meet 100% of your calculated need through these grants. These are funds that come at zero cost to the student. There is no repayment. Many parents are hesitant about loans, but that is a different story – it would be very unusual for a parent to be hesitant about grants. Just making sure that is clear right off the bat.
To receive financial aid, you fill out the FAFSA and CSS Profile. Between these two documents, you provide a ton of financial information that determines your eligibility. You provide updated information each year, and your financial aid is adjusted each year based on any changes.
Here you can see awards by income bracket. You can see there is at least one family in the 40K-60K range receiving less than $10,000 a year. There is also at least one family with 200K+ in income receiving nearly $46,000 in aid. Income is only one part of the picture; these other factors are considered very seriously as well.
It’s difficult/impossible to make general statements about how much a family might receive just based on their income. I would encourage you to send the net price calculator to your parents and just let them see what kind of aid money you might be eligible for at a school like Vanderbilt.
Income and family size is the #1 main driver
also Assets
You are right that if you do qualify for aid, it would not make sense to walk away from it. Encourage your mom to run the Net Price Calculator.
Also, if you work now your student earnings may and savings will be tapped for contributions toward the aid formula. But if you aren’t getting any, then a low hours student job can help you pay for some of your expenses and might be some experience for your resume. Also there was a large study that showed that about 12 to 15 hours a week helped students with time management and keeping grades up (what?) Some colleges have job listings online.
Part of the financial aid award usually includes the student working a small job. Maybe that combined with potential grant money would satisfy both you and your parents wishes.
You won’t know until you file… you don’t have to accept the award either if your parents are dead set against it. There are deadlines. You have to do the FAFSA and CSS Profile. They should be done ASAP. The EFC calculator gives a good estimate.
Just to add to what Work2Live said–at Vanderbilt students who receive a grant are also assisted by the school in finding a job on campus (working at the student center desk, the hospital gift shop, the cafeteria, the library, etc.) that pays a bit above minimum wage. Think the jobs are usually 10-15 hours a week. The money earned is paid to the student, it isn’t automatically funneled back to the financial aid office. This might be enough to make your mother feel that you are doing what you can to “help pay for the costs of college.” Best of luck to you!
Hi I am currently looking to transfer to Vanderbilt’s Blair school of music. Financial aid is a huge factor for me. On the website it says transfer students are not eligible for merit aid - does this include the school of music? Or would I be eligible for merit aid based on my audition? (I had my audition in the last couple of weeks- it went well).
My parents are divorced - my mom is the main care taker (makes 40k-60k). I didn’t have to send in my dads financial aid bc she’s my main caretaker - can anyone give me an idea of what I could expect to receive in need based aid?
Hey everyone! I have a somewhat financial aid question. I am a regular decision applicant to Vandy. Today I received an email from the office of financial aid asking a very specific question about my CSS profile. The email was not automated; it was addressed to me and included my parents’ names. I have not recieved an admission decision yet, but could this be a good sign? I may be reading too far into it. I just don’t know if financial aid offices review every application or only those of admitted students. Thanks!
It could still be automated and have your names. To my knowledge, admissions and financial aid complete their duties separately, so you shouldn’t read anything into it. Best of luck to you in your decision, though!
Financial aid officers prepare aid packages for every applicant — they don’t know in advance who will get in, and they have to have everything ready to go when the decisions are made. In other words, the work done in the finaid office is totally separate from the work done in admissions. But I do wish you good luck!
