<p>Sorry to do this but I need some serious help (I really don't understand finaid calculations).</p>
<p>My parents are divorced and my father refuses to pay for college beyond the college fund he set up (which is about 50-60k)</p>
<p>I was under the illusion that since my mom is a teacher (making very little) my EFC would be calculated based upon her salary. Turns out all Ivies require the Noncustodial parent profile.</p>
<p>This = DEATH! My mom estimates that their combined income is over 200k (which is mind-boggling because I don't see a penny of it). I think this might mean that I don't qualify for any aid at any of the Ivies, or any top universities for that matter.</p>
<p>If that's true, I have to go to an in-state public university!!!!! Eww....</p>
<p>Please be merciful and tell me if this is true?</p>
<p>smart.cookie, you need to sit down and talk to both of your parents. Find out exactly how much they plan to contribute to your college education annually. </p>
<p>I have to say...What is the matter with the University of Michigan? You are fortunate to have an instate public university with the fine reputation that school has...for the modest (relatively speaking) cost for an instate resident. You could do FAR worse!!</p>
<p>The Ivies do require both the FAFSA and the CSS Profile. The Profile requires that both your custodial and non-custodial parents submit their information.</p>
<p>I'm sorry, but this is not a "death" sentence, but it might mean that you may need to adjust your list of schools.</p>
<p>If your father has $60 in a college fund, that would be $15K per year. Does your mother plan to contribute to your college expenses too?</p>
<p>And keep in mind that your parental assets must be reported on the Profile also....not just income. So your parents (both of them) will be reporting home equity, and all bank accounts.</p>
<p>Please don't feel that you have a death sentence if you are lucky enough to attend UMich as an instate student. If you have the stats to be accepted to the Ivies, you might want to look into UMich Honor College.</p>
<p>Thanks for putting this into perspective. I know UMich Honors is amazing, I just love the thought of going to Harvard (and as a legacy I thought I could make the cut). Sadly, my dad will only contribute the 15k per year from the fund, and my mom is a teacher (with 3 kids, 1 already in college) and doesn't make enough money to contribute anything (she already is paying for our car insurance because our father refused to, and that is all she can afford). What truly irritates me is that he earns so much yet refuses to part with it. I will still apply to the Ivies (though not as many as I originally planned) and hope for the best, but it looks as though UMichigan Honors is what I will need to set my sights on. The good thing for me: I won't be shocked when I receive my aid offers next year and will have a simple decision. Another bonus: it doesn't hurt to be a big fish in a smaller pond.</p>
<p>Again, thank you thumper1 for putting this into perspective. I have achieved near zen-like status right now compared to what I was like about an hour ago (not pretty is all I have to say).</p>
<p>smart.cookie,
i'm in a very similar situation, except because of odd circumstances, I don't qualify for in-state tuition (or the in-state scholarships, aka full tuition, room, board, etc) in Florida.
It's certainly no fun. But, like you, I will still be applying to the ivies and saying my prayers.
Look into some other schools that would possibly give some good merit aid. If you're a strong enough applicant, that doesn't have to mean a 'bad' school. Vanderbilt has some amazing merit scholarships, for example.</p>
<p>I guess I don't understand "applying to the ivies and saying my prayers". If the schools don't offer merit aid, and you won't qualify for need based aid, what are you hoping will happen? A millionaire will suddenly offer you full tuition? Your parents will win the lottery? </p>
<p>I'm not picking on you, I just wonder what the expectation is in that situation. I'm not saying you shouldn't dream. I just don't understand what you're expecting to have happen.</p>
<p>Vanderbilt? Really? Sweet! I love Vandy. I have been looking into several other merit-aid offering schools. So far the pool is slightly shallow.</p>
<p>Well, I'm in a similar situation. Live in Michigan, will have high EFC (not AS high though) and pretty much disappointed that going to U-M and not some amazing school I want is pretty much a forced decision.</p>
<p>To answer TrinSF's question, I am applying to a crapload of scholarships. I will use most of my energy on scholarship applications, applying for at least $100,000/year in aid. (If I can find that many.) Additionally, because I have shown devotion to the actuarial science field and there are NUMEROUS act. sci. scholarships offered by insurance companies, I will contact them and see if they will help me. Maybe OP has a strategy like mine, or similar.</p>
<p>OH! that makes sense, applying for outside scholarships. I know how much money there is for actuarial science, because when I was applying for college, my father wanted <em>me</em> to be an actuary! He was in insurance himself, but he was like, "Actuarial science, that's where the REAL money is!" It's very much in demand, and all that. </p>
<p>We don't focus on outside scholarships in our household, so I wasn't even thinking of them.</p>
<p>You have $15K a year for college. Have you saved any money at all? You should have a job starting second semester senior year during the school year if you want to go to a $50K+ college. If you work your butt off during the summer, get a part time job during the school year and weekends during the term, you can save a significant amount of money. You just might get a little fin aid depending on parents assets, ages, other info. You can also qualify for Stafford loans. If you can earn and get $15K for that first year , borrow another $15K and get $15K from your dad, you are getting close to the cost.</p>
<p>Harvard does a lot to make sure the students it admits can afford to go. Though your situation may be trickier because of a miserly parent. But apply and shove acceptance letters in front of his face and he will start imagining all his bragging rights at parties and with co-workers, "My kid goes to ...(blah, blah, blah).</p>
<p>You do qualify for government aid through FAFSA. That aid is determined by your mother's assets and earnings. If she truly makes a small salary, you may get the Pell Grant and other monies that are based on FAFSA only, including the subsidized Stafford loans. Between your father's contribution, and what the governmet kicks in, you may have about 2/3 of what you need to go to any school. The rest you need to earn.</p>
<p>I believe Vandy is more well known for the need-based aid than their merit aid however. It seems most of the selective schools are getting away from merit-based...virtually everyone there is deserving of merit aid or they wouldn't be highly-selective.</p>
<p>First of all, if you envision yourself as a "big fish in a small pond" at UM, you must be brilliant. If so, you should be looking at excellent non-ivies with big merit scholarships (Duke, Vandy, UVA, WashU, Davidson). I live in MI ... believe me, UM is full of VERY, VERY smart, motivated students. If you truly are as great a student as you let on, you will certainly be a great candidate for full rides at other schools. Not a slam dunk, but probably more deserving of your efforts than a school you know you can't afford.</p>
<p>Cpt, kids in Michigan can't earn that kind of money. Period. Not only are teen jobs tough to find, since so many adults are out of work ... but employers are very stingy with hours & pay is minimum wage. This area is far from an easy place to earn a decent wage. Trust me, I know ... and I am college educated.</p>
<p>^ Lol didn't mean to be arrogant. I only meant to say that it would be nice to be in U of M honors with other awesome students at my level rather than at an Ivy with a million students above my level lol. U of M honors is much smaller than the Ivies thus it would be nice to have a smaller, close-knit community than a super-competitive environment.</p>
<p>There are MANY great schools & programs besides the ivies & UM honors. You might want to do some research & look into schools that will give you what you really want.</p>
<p>My d is in exactly the same boat as you. Exactly.</p>
<p>If she doesn't get in in-state to U.Va., which she does have a shot at, she will go to either U. Texas Austin or U. Fl. (getting in-state tuition at each one as a Natl Merit finalist) Or else completely free to U. Alabama Huntsville as a National Merit finalist.</p>
<p>Her dad graduated from Johns Hopkins. She isn't even applying. Why bother? Her dad would never pay that kind of tuition.</p>
<p>^ I feel for her :)
UVa is definitely awesome. I didn't know that UT-A and UFl gave in-state tuition for NMFs...
Thanks!</p>
<p>Also, I have done some research and compiled a small list of top-rate schools that give substantial merit aid, in case your d is interested:</p>
<p>Vanderbilt
Furman
University of the South
Emory
Boston U
UMiami
Brandeis
Washington and Lee
WUSTL (they give out very few, but it is worth the one in a million chance)
and, believe it or not,</p>
<p>HOPKINS! (They give out very few merit scholarships but if your d loves Hopkins then she should definitely apply. Amazing things can happen!)</p>
<p>If you are interested in Southern schools (as your list implies) you might also look at Rhodes College in Memphis. It has a wonderful list of merit scholarships, including the Bellingrath which pays for EVERYTHING.</p>