Hopes for scholarships/financial aid?

Paying for College
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<p>Hello! I would really like to attend universities like Northwestern in IL, UCLA, Carnegie Mellon University, etc. However, my financial situation is pretty complicated. My mom makes $110,000 a year normally as a nurse, but she works overtime often so sometimes her income is much larger (this year, for example, she actually made $180,000). My father makes significantly less. He makes around $30-40,000 per year. I have an older brother who is out of college, but is still paying off his loans (he's 25). My mom is still paying off those loans as well. She told me she makes too much money to get decent aid. My family's finances are tough because we live in NY but own a home in PA, and with loan payments, bills for two residences, etc. the strain can be pretty significant. </p>

<p>I really hope to get a scholarship for college, specifically Northwestern University. My stats are in the range for NU, but it's a reach for nearly everyone. I read that NU is need blind, but I'm afraid my family's income is too high to get the aid we need. I honestly cannot imagine staying in NYC for another 4 years, so I'm facing OOS tuition to nearly every college on my list. Is there any way to get decent aid?</p>

<p>I've looked at outside scholarships but I read that they limit aid further. I'm going into junior year now, if that helps...</p>

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<p>Your family will need to report all of that income. In addition, that equity in that second home in Pennsylvania will be considered an asset. With income of over $150,000 a year…even without your mom’s overtime, your prospects for need based aid are slim. Your family has significant income and a second home as well.</p>

<p>The schools honestly don’t consider debt of any kind in the financial aid calculation…and they certainly would not take your brother’s loan debt into consideration when computing YOUR need based aid.</p>

<p>There are net price calculators on those college websites. Put your family financials into them and see what they say. However, be alerted that folks owning real estate other than their primary residence, as you do, don’t always find these numbers to be accurate.</p>

<p>Also…if your family rents that second home to others…that income would also be included when your need based aid is determined.</p>

<p>You are OOS for UCLA. You need to be alerted that the UCs do not typically provide aid to cover the OOS tuition differential of $23,000 or so. They are public universities, and have limited need based resources.</p>

<p>I hate to say it…but given what you are posting here, you are not going to qualify for much…if any need based aid at the schools you listed…in my opinion.</p>

<p>Also…you are confusing some terms…</p>

<p>Need Blind- this means that the admissions folks do NOT consider your financial need when reviewing your application for acceptance. It has nothing to do with financial aid awards. MOST universities are need blind for admissions.</p>

<p>Meets Full Need- this means the school guarantees to meet the full need for all accepted students. The COLLEGE determines your financial need, not you. It is based on the info on the FAFSA and Profile (if the Profile is required). </p>

<p>NU is need blind and meets full need for students. The school has a very very few highly competitive merit awards, I think…but they mostly award need based aid.</p>

<p>I hope you are looking at some of the SUNY colleges which would be modestly priced for you as a NY resident.</p>

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<p>You don’t have to stay in NYC but do apply to a Suny as a financial safety. Even if you don’t get financial aid those should be affordable - with your stats Geneseo would be a definite possibility.
If your family pays taxes in Pa you may be eligible for in state tuition there otherwise your only in state options are the SUNYs.
Now as for aid : your family makes at least 140,000 a year: you’re unlikely to get need based aid from any public school. Don’t even bother with OOS publics.
NU may give you a little aid - run the Net Price Calculator that’s on the university’s website.<br>
If you find your net cost too high you will need to find merit scholarships - and that is very likely what will happen for you. So you have your dream school now you need to find a few financial match schools. Your best bets are private colleges that are 500miles or more from your home mostly in the South or Midwest where your stats place you at the top of applicants. Take a few guidebooks and search carefully for schools that you like and give merit aid. Universities such as UA also offer very good merit aid.
And finally look at the ‘competitive scholarships’ sticky thread at the top of the Financial aid forum :)</p>

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<p>If this is a second home, the family would NOT be entitled to instate residency in PA. If one parent resides and works in PA, the student MIGHT qualify for instate residency on PA…but they also might not! </p>

<p>The student IS a resident of NY…and if that is where both of her parents reside, that is her state of residence.</p>

<p>NY is a pretty big state…and most of it is NOT like NYC. Lots of SUNY choices.</p>

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<p>Are your parents separated or divorced ? is one working in Pa and the other in NYC? Or do you have a vacation home in the Poconos ? The situation would be looked at differently.</p>

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<p>Since schools that give mostly need-based aid will expect your family to pay most/all costs, if they can’t pay that much, then you need to include some SCHOOLS that will give you large merit for your stats.</p>

<p>What are your stats? </p>

<p>What is your major?</p>

<p>Outside scholarships aren’t going to work for you. Those are mostly ONLY for freshman year, so they won’t help with the other 3 years. And, many have a “need” component…especially those that are for four years.</p>

<p>You need to apply to the SCHOOLS that will give you merit.</p>

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<p>The house in PA is complicated. My mother wanted to move to a new home in NY (because our current apartment is too small), but decidedly to build a home in PA with the intention of moving there. My brother was in college in PA at that time. But my brother transferred to a NY college, my mom started graduate school, and I started high school in NYC. It just got too complicated to move, but my parents don’t want to sell the home (which makes sense, because it really is the only place we have space). My family goes to PA almost every weekend to care for the house, but currently no one works there. So, in my opinion it’s not a vacation house because of how much time we spend there, but it could easily be seen that way. </p>

<p>I have a A/A- average (92 overall). I’ve taken 1 AP so far, I’m taking 3 this year, and around 4-5 next year. I’m prepping myself for the PSAT, because last year I got a 177 without studying. I can’t say yet how much I’ve improved. I go to a pretty prestigious performing arts high school and I study vocal music. I’ve played the piano for 9+ years. I’m joining Model UN (my involvement has been spotty last year due to schedule issues) and hopefully ARISTA. I’m also founding my own drama club with my friend, and I hope to write/produce a few scenes, short films, etc. for the club. I take acting classes, and soon I should be taking private voice lessons. I’m a black female and a first generation American (my parents and brother moved to the US from the Caribbean in the 90s). I just had spinal fusion surgery, and it made me rethink a lot of things in my life. I might write about it in my college essay.</p>

<p>I hope to study Acting/Theatre in college as well as Economics. I want to minor in Music or Music Composition. I am looking at SUNYs as financial safeties, but I’m still hoping for my dream schools. I’ve more or less given up on UCLA, with the OOS tuition thing…</p>

<p>I must sound really stupid on this thread, with all the extra income…I realize not everyone pays sticker price for college, but we might have to pay something close to it. I just don’t want to put that much more pressure on myself and more importantly my family.</p>

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<p>My parents are still together, married. Thanks, thumper1, for correcting me. I did confuse them! I know that I don’t determine the need, but given the Northwestern chart on average aid given, I’m not sure where I’d fall. </p>

<p>The reason I want to leave NYC (which I realize is kind of crazy given my major) is my father will force me to live with them and commute if I stay, and as I stated previously the apartment we have is too small and falling apart. I feel like it limits my opportunities. I’ve seldom left the tri-state area, and I want to live independently. I don’t feel comfortable leeching off my parents any more than I have to.</p>

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<p>UCLA costs nearly $30k/year (tuition, r&b) for IN-STATE students. For OOS, you’re looking at over $50k/year, plus incidentals and travel to/from NY. There is no merit aid to speak of, and your family income makes need-based aid unlikely. Sorry to burst your bubble. As others have pointed out, your best option is a SUNY or a private university that grants a lot of merit aid and where your stats put you in the top rung of applicants. You will not find such schools in the top 30 in the USN rankings. You will need to look deeper in the rankings, from 30 on down, where you will still find many excellent universities.</p>

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<p>Charts with average aid given aren’t very helpful. Go to NU’s website and use the Net Price Calculator. You can search for it or navigate to the finaid pages. You need to have accurate info to enter into it. The important part with the PA home is the equity, the current value minus any remaining mortgage amount.</p>

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<p>If your GPA and test scores end up being high enough, you may be able to get into one of the CUNY Macaulay programs that come with housing. In that case you would be able to live in a residence hall for a year or two.</p>

<p>Then again, if your GPA and test scores would be good enough for Macaulay, they also would be good enough for merit money at a lot of other places. Read through the merit aid threads at the top of this forum, and see if you find anything you could like.</p>

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<p>YOU may not view that house in PA as a “vacation home” but the reality is…the house in PA is NOT your primary residence. You don’t attend high school there and neither of your parents work in PA. That equity in that home will be an asset for financial aid purposes, and there is nothing you can do about that. I understand that your parents do not “want to sell” it but need based financial aid is for students who are needy, not to help a family subsidize a second piece of real estate. Your family has made a choice to own this second home…a choice. They don’t NEED it…they want it. </p>

<p>Also, there are plenty of other families who own second pieces of real estate in states where,they do NOT reside…think about all of the vacation homes on Cape Cod, in the Hamptons, in the Adirondacks, etc. many of those second homes are owned by put of state residents. And any of their owners who have kids in college will be in the same boat as you…that second home…which is not a primary residence, is an asset for financial aid purposes. This is not a unique situation at all.</p>

<p>P.S. the net price calculator might prove a bit inaccurate because of your second piece of real estate.</p>

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<p>Right now,three campuses currently offer housing packages for their Macaulay students (City College, Hunter College, and Lehman College). </p>

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<p>While almost all of the 4 year CUNY schools, now have dorms (with College of Staten Island opening their brand new dorms this month), OP would have to pay for dorms.</p>

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<p>I think it is only the equity in your 2nd home (current market value - debt) that affects your assets, but with your high family income it is a moot point, you will have a pretty large EFC. Is it a little ironic that a drama/music student wants out of NYC when thousands of similar students are willing to go for big debt to be in NYC? I also understand the desire to get out of town rather than commute, but perhaps your parents would consider higher tuition costs in return for commuting from home.
You are wise to be considering this now as a junior and you should definitely sit down now and talk to your parents about what they are able/willing to pay for college. Search for some private schools that are strong in your major where you have stats above the 75th %ile. There are schools where you are likely to receive scholarships and grants, especially given your first generation minority status. An example might be Emerson in Boston on the high end. Finally, find the best SUNY safety that fits you, in case none of your privates come through with enough money.</p>

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<p>Bottom line: between your family income and second home, it’s highly unlikely that you’d qualify for financial aid at most schools. Income alone will probably be enough to make you ineligible. Run the net price calculators (using your parents’ actual earnings, and not what it says on your mom’s employment contract) and see.</p>

<p>Your focus now should be the PSAT - a qualifying score on that test can earn you free tuition and/or free rides at schools all over the country! If you’ve prepped, but don’t know how much you’ve improved, start taking practice tests. Get yourself over to CC’s test prep forum and figure out how to ACE that test!</p>

<p>Then look at the automatic and competitive merit aid threads at the top of the financial aid forum - lots of possibilities there, even if the PSAT doesn’t work out. Focus on your GPA and your standardized test scores over the next year (take the SAT or ACT in the spring - don’t wait ’til senior year!), and you’ll have lots of options.</p>

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<p>How about schools where you could get merit aid. Since youre not going to qualify for need based</p>

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<p>Thanks everyone for your responses. I really appreciate it.</p>

<p>Sorry if this sounds rude, thumper1, but I already said I understand it’ll be viewed as a vacation home. My family didn’t decide to have a second home, we were planning to move, and due to several complications we have had to keep it. Part of the reason we are keeping it is not just because we need a space that doesn’t have us on top of each 24/7, but because we invested a large amount of money in a space that is now useless, and selling now will not even halfway cover how much my parents invested. We are not trying to avoid subsidizing or anything like that. We genuinely cannot afford 60,000 dollars a year. I am not trying to sponge off anyone. I just want to attend a school that will give me a great education without leaving me in tons of debt when I graduate. My parents can’t aren’t going to cover for me when I graduate.</p>

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<p>I’m looking through those threads on merit based aid now, thank you all again! I’ll keep searching.</p>

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<p>first thread on this forum</p>

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<p>Look at Purchase and Potsdam.</p>