Harvard has just freaked me out!

Paying for College
1

<p>Hi,</p>

<p>I'm an international student who's going to apply EA to Harvard.
I need a significant financial aid to study there.</p>

<p>Income : 60000- 80000 USD
My house is worth more than 1M USD.</p>

<p>But I've just used the calculator of Harvard :Net</a> Price Calculator
and if I put 1 million dollar on my parents real estate equity, I'll have almost to pay everything!!!</p>

<p>But in their website, Harvard College Admission clearly specified that "Home equity and retirement assets are not considered in our assessment of an expected parent contribution."
Harvard</a> College Admissions § Financial Aid</p>

<p>What do you think ?????????</p>

2

<p>Run the calculator again. They do not ask for Real Estate equity - they ask for Real Estate income - which would be any money you get from renting out investment property. So I believe you would not put in the $1 million if it is equity in your residence.</p>

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<p>Real estate equity clearly states exclude your primary residence when you put your cursor on it.</p>

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<p>I was looking at the wrong box - texaspg is right.</p>

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<p>I think that you should consider many other options. Here’s the deal:</p>

<p>1) To get into Harvard you will be competing with the best the world has to offer – including 18 year olds who have started their own (successful) business or who have earned Olympic gold medals or Oscars for their movie work. You may be the top student at your school but you are not competing against the other kids in your school. You are competing against the valedictorians of America’s 30,000 high schools. I</p>

<p>Every year we have the Kentucky Derby. Nineteen blazingly fast horses run. There are no donkeys in the race. Only one wins. A smart trainer enters his/her horse in some other races besides the Derby! So, you should have some other paths you are exploring. </p>

<p>2) We are in the midst of a huge economic recession. While International students absolutely add to the campus, why should Harvard take an International who needs aid when it can get Price So-n-so who will pay full price? Harvard does, indeed, take some full ride Internationals — but you are talking one, two or three – not even several dozen. It is a terrible time for colleges and that means it is a terrible time for needy International students. </p>

<p>3) Know that Harvard has grad school. If you earn a great degree elsewhere, you may be able to get to Boston in a few years with a much better economic picture unfolding. Note: many times a PhD program pays the student to participate (not all, but some do)</p>

<p>4) Welcome to the crazy world of financial aid. Usually private colleges require the student to fill out the FAFSA and the CSS Profile. There are questions on the Profile about parent’s house – including when it was purchased and its current value. This is an asset your family DOES have, so why shouldn’t the college consider it? I don’t know how Harvard works, but, in my experience, financial aid officers are tasked with getting families to pay as much as possible (which tends to be a whole lot more than the family wants to pay). </p>

<p>Lastly, consider what you are asking of your family. Say you DO get into Harvard. Will you be so proud (and full of yourself) that you don’t ask and don’t care about what happens to your younger siblings? Or to your parent’s retirement? Too often students are so excited that they don’t think through what the costs are to the rest of the family when the bills are so huge for that one kid. The parents may be too proud to say “we can’t afford this”, so the parents take on huge loans. Is your pride worth their poverty?</p>

<p>Don’t get me wrong. Harvard is a great college. It is also very much oversold. (Believe me, they know what they are doing when they mail out that creamy, embossed stationery inviting you to apply. Five dollars of stationery can make you pay $50 to apply, even if you don’t have any sort of chance of getting in). </p>

<p>Search for something like “Harvard + Complaints” and read about overcrowded lecture halls, cold, icy sidewalks, aloof classmates and some of the less charming aspects of that college. Then think long and hard about your other possibilities. </p>

<p>Sure, apply to Harvard. But please realize that people prostitute their lives and their family’s lives for the chance to get a stylish bumper sticker. Pride has a big, big cost.</p>

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<p>I meant to write “Prince So-n-So”</p>

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<p>

</p>

<p>$75</p>

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</p>

<p>^this</p>

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<p>Thank you guys for the answers…</p>

<p>Olymom -

  1. I know that Harvard is very competitive but I think I might actually have a shot…
    I’m 21 year-old, I’ll soon be after 3 years as a commander in Israeli army. I speak French, Hebrew and English fluently … and I have great scores…
    I think that (I’m sorry if I’m going to sound braggart) I’m much more ‘non-traditional’ compared to any very very smart American teenager who grew up in the US and has excellent scores…</p>

<p>2) People says that because of the recession, 2012 will actually be a great year to apply. And Harvard has a 27 Billions USD endowment…I really don’t think money is an issue for them. Actually, the financial aid increases every year.</p>

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<p>Ah, but do not forget you are most likely competing against other internationals who want to come to the US for college or internationals who have been living in the US for years and years…not necessarily against American students. Most colleges strive for a balance of individuals with a variety of backgrounds, interests, abilities, etc. that is what is meant by holistic admissions in the US. </p>

<p>If your desire is to come to the US for college, do listen to the advice Olymom is giving. Also take time to read the international student forum so you understand how it is going to “work.” If your desire is to go to Harvard and Harvard only then go ahead and apply, clearly you will options in your own country should Harvard not work out for you. You can also send an e-mail to Harvard and ask how they handle financial aid for internationals or they may have a section on their website that deals specifically with internationals.</p>

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<p>You will be competing with the other INTERNATIONAL students for admission…not the 18 year old teenagers from the U.S. (who by the way…are very stellar applicants for places like Harvard). Perhaps your application will stand out because of your army service…but all other things…well…other internationals bring similarly special things to the table.</p>

<p>I DO suggest you apply to Harvard…but I also think you need to have some other options in case YOUR lottery ticket isn’t drawn. The school accepts less than 10% of international students who apply.</p>

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<p>You won’t really be competing against US students…you’ll be competing against int’l students …and a smaller number are accepted. And, many int’ls can speak several languages.</p>

<p>Even with an excellent profile, your chances of acceptances are still small. </p>

<p>Keep in mind that other elites do consider home equity, so some will include that home equity if you apply/get accepted to those schools.</p>

<p>You might want to also apply to some schools that will give you large merit scholarships as back up schools.</p>

<p>BTW…did you put in your parents other assets/savings?</p>

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<p>Harvard financial aid is similar for US and non US applicants (need based for EVERYONE)…</p>

<p>I’m applying to 6 other colleges…</p>

<p>and yeah I know it’s really hard to get in…but you never know…!</p>

<p>mom2collegekids : my parents have other assets in France but not big enough to not be eligible to financial aid.</p>

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</p>

<p>They still need to be listed…in U.S. dollars. </p>

<p>Just make sure your 6 colleges cast a broad net for you…schools with great need based aid…but you also might want to put in a couple of schools where international students receive terrific MERIT aid as well.</p>

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<p>*Harvard financial aid is similar for US and non US applicants (need based for EVERYONE)…</p>

<p>*</p>

<p>That isn’t the issue that we mentioned. YOU will be competing against other int’ls for admission…you won’t be competing against US students for admissions. Int’l admissions is a separate process where YOU compete against int’ls for admissions. So, your point that you’re more interesting than a US student is irrelevant.</p>

<p>*I’m applying to 6 other colleges…</p>

<p>*</p>

<p>Which 6? </p>

<p>Be aware that most/all of those other schools will use a far less generous formula for admissions…and will also use home equity. </p>

<p>*my parents have other assets in France but not big enough to not be eligible to financial aid. *</p>

<p>Those still need to be included. They may not keep you from getting FA, but you may not get as much FA as you might want.</p>

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<p>Be aware that most/all of those other schools will use a far less generous formula for admissions</p>

<p>oops…meant to write…far less generous formula for computing financial need and aid.</p>

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<p>israrub -</p>

<p>If the posts I’ve read over the past few years are any indication, a large number of recently mustered out Israeli military veterans apply to colleges in the US every year. You aren’t as unique as you’d like to think. </p>

<p>For expert advice geared to your specific situation, take the time to read through everything at [EducationUSA</a> | Study Abroad, Student Visa, University Fairs, College Applications and Study in the U.S. / America](<a href=“http://www.educationusa.info/]EducationUSA”>http://www.educationusa.info/) Then make an appointment with the counselors at the advising center in Tel Aviv [EducationUSA</a> - Center Profile - U.S.-Israel Educational Foundation](<a href=“http://www.educationusa.info/Fulbright-TelAviv]EducationUSA”>http://www.educationusa.info/Fulbright-TelAviv) If you can’t visit in person, find out how much help they can give you by phone or email. They will be able to tell you which colleges and universities in the US have admitted applicants like you in recent years, and whether or not those applicants received good financial aid packages.</p>

<p>Wishing you all the best.</p>

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<p>I’m smiling! One of the students I know at U of Illinois at Champaign speaks 8 languages – she is Indian and has many family members strewn across the globe. </p>

<p>Me, I’m fluent in Dog and Teen Boy (I’m very good at interpreting body language and grunts). </p>

<p>There’s nothing wrong with being confident and doing one’s best. This may be the year that Harvard Admissions is looking for a candidate with exactly your characteristics. It happens. </p>

<p>It also happens that bright, confident applicants think they are unique – and that someone will give them a great deal of money so they can be educated, bright and unique. This actually has happened, particularly in the 1960’s to 1990’s as we all embraced globalism. I am seeing an inward trend in my country as more and more people are suffering in the economic downturn. There is much more emphasis in “Buy American.”</p>

<p>OP needs to know that the Arab Spring and the ongoing conflicts in his region are rapidly changing how Americans view the Middle East. It seems (IMHO) that an American college might be intrigued by applicants who were Tunisians and active in the recent changes there – or a young Libyan who has been fighting in that country’s rebellion against a dictator – or a young citizen of the world’s newest nation of South Sudan. These could be unique and interesting young voices to have on the campus of the world’s most selective college. </p>

<p>And let’s not forget another seismic change: as “Don’t Ask, Don’t Tell” is being dropped from the US military, elite liberal arts colleges are rolling out the welcome mat to US Veterans returning from Iraq and Afghanistan (who, happily for college treasurers, come with tuition fees paid through the US GI Bill). All of these are your competition.
Good luck!</p>

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<p>I understand that I’ll be competing against other intl’ student</p>

<p>happymomof1 - thanks. I already have a counselor from EducationUSA… </p>

<p>mom2collegekids - I meant that I’ve already calculated the impact of those assets on my financial aid and there is almost no difference…
I’m aware of the financial program of the school…I know that some aren’t as generous as harvard</p>

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<p>OP…you need to understand ONE very important component here…yes…some schools have very generous financial aid for internationa students and are need blind for admissions as well…there are SIX schools in that category…not too many. </p>

<p>The key is you have to be accepted to the schools to benefit from their generous financial aid. With better than 90% of international applicants being rejected from these schools…it is very wise to have some affordable and less competitive schools included in your application pile. Just saying.</p>

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<p>* With better than 90% of international applicants being rejected from these schools…*</p>

<p>Thumper could even take it further than that…she could probably say better than 95% of int’l applicants are rejected… the better than 90% figure closer relates to domestic apps… A smaller int’l % is accepted.</p>

<p>Thumper …what are the 6 that are need blind for int’ls? Harvard, Yale, Princeton, Amherst, Williams, and ??? (are the first 5 right?)</p>