I’m a junior, but I’m thinking about ED/SCEA options for next year. My family’s income changed pretty drastically this year because my dad retired, so the income level that FAFSA will receive indicates a higher number than is our current reality. I understand that schools reevaluate financial aid on a yearly basis, but does anyone have experience asking a college to reevaluate FA for the first year based on recently changed finances? I’m talking especially about Ivies & peer schools. If anyone has experience with this, that’d be great. Thank you!
Sit with your parents and run your numbers through the net price calculator.
If you are starting college in 2018-2019, the FAFSA will use your family’s 2016 income and assets. Also, does the school that you are considering use the CSS profile or their own financial aid form?
Find out what your parents are realistically willing to pay or borrow for college. ED is designed for families who have done their due diligence and are comfortable with the numbers. If you are applying ED, there really no incentive for a school to work with you because in exchange for an early decision, if admitted you commit to attending.
I would be applying to UPenn ED, which is CSS profile. UPenn would likely provide enough aid for my sophomore through senior years; I am only concerned about freshman year. Of course, the calculator estimate will be high because it is based on an income in a very different bracket than where we are currently. I was wondering if anyone had gone through this same situation… I know I saw someone who successfully had Vassar reevaluate for this reason, and wanted to see if anyone else had similar experiences. @sybbie719
You don’t or won’t know applying ED (there is no real incentive for Penn to re-evaluate your financial aid package if you are committed to ED). This is why I stated you may be better served not committing to anyone ED because you would have more affordable options. Are you a legacy, where you can only use that benefit applying ED?
I am not a legacy, but I am trying to get “recruited” by the Kelly Writers House at Penn. They do advocate for students in the RD round, but I know my chances would be better in ED. @sybbie719
How many students do they 'recruit" and get accepted to Penn each year?
What is the admitted student profile of those that they 'recruit"?
How do you stack up ?
Your chance may be better in ED, however, the rule of thumb is not to apply ED if you have a financial concern. Admitted ED to an unaffordable school is worse Not not admitted as you may also lose some other opportunities. If your family can afford the freshmen year with less aid, then you may apply ED to that school.
The woman in charge of KWH told me that there is not a fixed number of recruits, as it is not a binding recruitment (i.e. where you’re guaranteed acceptance). My scores/ECs/etc are all “competitive” for Ivies ED or RD, so it would be a boost in my application, not compensating for something missing. To answer your question more directly, I am very comfortably within the admitted student profile. I would apply to Yale SCEA if I did not apply to Penn ED. @sybbie719
Thank you for your advice! These are all things I have considered, though I wanted to see if I could hear from other students who had a sudden change going into their senior year. I will likely contact Penn directly to hear what admissions says on this issue. @billcsho@mommdc
If you have these financial issues…do NOT apply ED. Just don’t.
The colleges will consider your 2016 income for the 2018-2019 school year. Younarwnt thenonlynone withnchanges to income because of prior prior year info use. I don’t think most colleges will do this kind of reconsideration…especially since it was retirement…which could be delayed.
If this is a huge financial issue…you could,take a gap year after HS, and then apply to college for,the 2019-2020 when the lower 2017 income will be used.
The retirement was based on disability, so it couldn’t have been delayed. Just wondering, but if I applied to a school ED & committed, then declared a gap year after acceptance, would they reconsider my financial aid for my first year of enrollment? @thumper1
You have to see if the college allows deferrals for ED or even RD students. Some do…and some don’t.
Yes, your financial aid,would need to be reconsidered for the following year.
Was this a forced disability retirement that was NOT anticipated? If so, it is possible the school might do a special circumstances consideration for you. You would need to document when your dad became disabled, and why he was required to stop working.
Every college has its own process for special circumstances considerations.
I don’t think applying ED is a good idea, because when you apply ED, you agree to accept,the offer of admission unless the financial aid is too low. If you KNOW it will be not enough aid…don’t apply ED. Don’t.
