<p>I'm really interested in applying ED to Penn but the only thing that's stopping me is the price tag. My parents make 200K+ a year but this month my dad became unemployed and he has a ridiculous amt of debt that both he and my mom are paying off. Penn, especially for ED, only looks at 2007-2008 combined income so I probably won't get a penny of need based aid and my parents won't have anything left for me either...I don't want to be 150-200K in debt by the time I graduate UG. Realistically speaking, should I still apply to Penn ED and hope to get some money (would I get anything with that income bracket?) or wait for RD?</p>
<p>You’ll likely get 0 as an international whose parents make over 200k US. Your estimated financial aid is done with your last year’s tax return, but I believe that your actual FA will be done with this year’s taxes. Penn also readjusts your FA every year. If I were you though, I would not apply ED anywhere if income is high but finances are questionable. It’s not worth it.</p>
<p>Would it make a difference if I’m not an international? Also, would my financial aid be any different if I applied RD? I REALLY want to apply early Penn since its my first choice and I don’t think I’d get in otherwise.</p>
<p>I don’t think Penn is needblind for internationals, and I’m not even sure if they guarantee financial aid to internationals. They do give some internationals aid, but if you are not someone they really want, they might not give you as much aid as you need.</p>
<p>what’s ED and RD ?</p>
<p>There should be no difference in Penn financial aid between domestic students accepted Early Decision and those accepted Regular Decision. That tends to happen at colleges that (a) use merit aid, not need-based aid, to attract students they especially want, and don’t “waste” it on students already committed to enroll, and (b) don’t meet 100% of need for all eligible students, and thus allocate need-based aid on a merit basis (and don’t “waste” it etc.). </p>
<p>I don’t know what Penn’s policy for international students is. I know it isn’t need-blind in admitting them, but what’s more important is whether it meets need for those who are admitted. If it does, then there won’t be any meaningful ED/RD financial aid difference for those admitted. If it doesn’t. then there could be.</p>
<p>Separately, I think families with $200K+ income get little or no need-based grant (vs. loan, or work-study) aid anywhere, unless they have four or five kids in college at once.</p>
<p>I’m NOT an international student…
The difference is that early decision asks for 2007-2008 incomes while regular decision asks for 2008-2009 incomes… that’s why I’m not sure which one to apply to since my circumstances changed recently.</p>