<p>I know schools calculate need many different ways, often not realistically in line with the actual ability of the family to pay, but I don't know what methodology Emory could have been using to work out that meeting 100% of my demonstrated need meant asking my parents to pay over half their annual income towards tuition? I simply don't understand how this can be right. </p>
<p>Anyone else in a similar situation?</p>
<p>Your parents didn’t expect to just use their current income to pay for your college tuition, right? What about their savings, home equity, investment…</p>
<p>Usually, students and their families pay for about a third of college with savings, a third while they’re in college (with current earnings), and a third later (through loans).</p>
<p>That would mean that they’re paying 1/6 of their income per year. Meeting 100% of demonstrated need means you get what you need to pay tuition–not what you’d like. </p>
<p>I got 55.5k in grants, 2500 work study.</p>
<p>I have to pay the few thousand left.
I thought I would be able to graduate debt free but it seems I will have to take loan for the silly overpriced health insurance I probably won’t use at all. </p>
<p>@AlacrityPain: Can you just be on your parents’ insurance (if they have it) and then waive that requirement? That’s what I did…</p>
<p>Alacrity, I would not be whining over paying for health insurance when others are considered “full pay” and would gladly attend at your cost. You have received a gift and should be thankful you can attend college at such a low price. How about a summer job?</p>
<p>We have had similar financial aid offers at schools and have had the same reactions. We’ll have two kids in college for this next year and I assumed going into this that meant we would get more generous aid-- but for most schools it hasn’t. I’m not very experienced with this site so it’s probably been discussed to death elsewhere but it seems to me if you’re middle class, going to a private college is a challenge. There is a lot of financial help for folks who make little money. And folks who make a lot can afford it without help. But if the cost of tuition for one child is about half your family income, you mostly get offered loans even if you have a second child in college too. Or that’s what our experience has been anyway. We do have 1/3 of the annual cost for four years saved for her, and we can afford to pay 1/3 the cost each year. But the loan part is a sticking point. If my daughter were going into engineering or computer science, etc. then maybe four years of loans totaling 1/3 her tuition each year (which would be about 20k a year at many of these private schools–total of $80k) would be less risky, but for my liberal arts kid it just seems unwise. So that means schools that award her merit or talent scholarships are an option for us, and those who don’t aren’t. Kind of sucks that my husband and I both went to Washington U in St. Louis and assumed if we saved and had smart kids that they could choose any school they got into, but it just hasn’t been the case.</p>
<p>Long story short-- I feel your pain. And have told my friends with younger kids to be sure to throw a few public or otherwise more affordable schools into the mix for a different kind of safety school. </p>
<p>My offer was slightly below what both the Net Price Calculator and my estimate (given to Early Decision applicants) predicted I would recieve without a significant change in income or assets. Although it is still enough for me to attend, I am mildly disappointed that the final award would deviate from what all other predictors suggested I would get. I am attending the Admitted Student Open House on Monday, and may discuss this with the Financial Aid Office while there.</p>
<p>Anyone know how receptive the Financial Aid office is to negotiating? If you present a valid counterargument (as opposed to just blindly asking for more money), will they consider the request? Thanks.</p>
<p>I feel your pain @llbrenner. I honestly think it is a great thing that the children of minimum wage workers can afford to attend colleges such as Yale/Harvard etc if, based on academic merit, they are admitted. But IF there is a very good alternative at a sensible cost - e.g. a good state school with in-state tuition, I am dubious that it is worth paying even close to the sticker price for a private institution such as Emory for anyone who falls between poor (income less than $35k) and pretty wealthy (income > $250k). Of course, not all states do have top tier universities, and those that do are highly competitive, so it is easier to get into a 2nd tier (i.e. very good) private school such as Emory rather than a top tier public school (UCLA, Berkeley, Michigan, Penn State, UVA, Indiana, Maryland, UT Austin). If there are no reasonably priced alternatives available …</p>
<p>Many of today’s 18 year olds will have to pay for a higher degree at some time, so save the money for that anticipated expenditure. Indeed, it is not clear to me how long private colleges can continue persuading families that it is a good idea for them to spend so much of their resources on acquiring an undergraduate education when there are more cost efficient solutions available. </p>
<p>Moved to a separate thread.</p>