<p>I received my acceptance packet from Smith a week ago, with a rather generous financial aid offer. Of the other Sister Colleges I was accepted into, Bryn Mawr gave me 15k merit and Mount Holyoke gave me 20k merit, both telling me I am a full-pay student. Yet Smith gave me 20k in grants. Is this highly unusual? Smith FinAid told me I was missing the Smith Aid Application for Traditional Students, but that form only reiterates what's already on the CSS profile, which we already submitted. </p>
<p>Without visiting any of the schools, Smith is my first choice, but with merit, Mount Holyoke is giving me the most. Is there any way to approach Smith's FinAid department and ask if, assuming my financial situation doesn't change, my finaid will look the same over all 4 years?</p>
<p>I’m not sure why you’re saying MHC is giving you more. Isn’t Smith just giving you the same amount, since grants don’t need to be repaid? Or are you worried that the MHC amount is guaranteed for 4 years whereas you have to reapply each year for finaid from Smith?</p>
<p>It should say somewhere on the Smith web site that you should to continue to get the same level of aid from Smith if your family’s situation doesn’t change (in fact, if tuition continues to go up, the grant amount may increase at the same rate). The finaid department won’t mind at all if you contact them (via phone or email) and directly ask them this.</p>
<p>Oh, because I thought Smith would readjust financial aid over the years, especially since savings/house values go up over the years?
My parents own additional real estate outside of our primary home, and we make substantial payments on both houses every year and receive rental. Wouldn’t that change our financial situation?</p>
<p>I’m just worried that 20k/year guaranteed over 4 years would be more financially stable than financial aid that needs to be readjusted each year. I don’t know what I would do if I was suddenly faced with being a full pay student halfway through college. </p>
<p>Plus, I only estimated the cost of real estate in the CSS profile because I didn’t have exact numbers. I don’t know if the amount is incorrect because other schools told me my EFC should be around 63k…</p>
<p>It seems unlikely that your financial aid is going to change that much, but I understand your feeling that merit aid is safer. I suggest you (or your parents) discuss your concerns with Smith financial services by phone or email.</p>
<p>If your parents find themselves significantly wealthier years from now, why shouldn’t they pay more?</p>
<p>We had two severe medical emergencies in our family while our d. was in school. Both times, Smith increased our aid within 30 days (and, I would note, at the time, no documentation!) We are very grateful. But if our income went up substantially, I would expect them to want us to pay more.</p>
<p>Very. Something is amiss. Since MHC and BMC, as well as other colleges, have established that you’re a full-pay student, it’s possible Smith made an error. Among the top LACs, the EFC varies at the most by ~ $5,000.</p>
<p>Or, as crazy as it sounds, given that MHC awarded you their maximum merit award and BMC close to it, and considering you received an early write, Smith too awarded you their maximum merit award, which coincidentally is $20,000, but notifying you of the fact somehow slipped through the proverbial crack. Stranger screw-ups have happened.
In any event, I recommend that you discuss your concerns with the financial aid office.</p>
<p>We had offers from top LACs that varied by as much as $47k over four years. And our EFC was an easy one - no businesses, rental properties, major debts, more than one kid in college, etc. Merit scholarships at many schools, however, is subtracted from need. The colleges can call this what they want. What should matter to you is your actual cost, and indebtedness.</p>
<p>When your daughter applied to college, the top LACs cost ~$40,000. FA that varied by $47,000 amounts to about a 33 percent differential. Not including full-pay students who received merit aid, LACs that do not meet full need, or parents with complicated and complex financial statements, I’ve never heard of FA that varied by that significant of an amount. Even Smith claims that their FA offers are always within $1,000-$2,000 of competitive colleges.</p>
<p>You’re always an anomaly one way or another. :)</p>
<p>We have no clue why this was the case, and our finances were not at all complex. Smith wasn’t the most generous (but it was very close). We were as surprised as you are.</p>
Seeing as how we live in an area known for very high cost-of-living, paying 2 mortgages, and going to have to start paying college tuition for my little brother in 3 years, I’m just trying to find the best (and affordable) way for me to attend college. In addition, our financial situation is not very stable, as one house is underwater and job stability is not always an assured thing.</p>
<p>Of course, were my parents to come into much more money, I would expect us to have to pay more at a school where I’m only receiving financial aid. I understand how the system works, I’m just trying to see what my best options are at this point. </p>
<p>Thank you to everyone for their help, it seems my best option is to contact Smith’s finaid office directly.</p>