So, the net estimated cost for my parents contribution towards financial aid came at about twice the amount my parents could afford, which is a whole lot! What should I do about that? Should I just neglect Columbia as a prospective university, or is it possible for the financial aid office to cut the cost to half?!
@ahmedsheta Unless you have special circumstances, the unfortunate reality is that you are not going to get much more aid (if any more) than indicated by the estimate. Columbia, like many universities, grants aid on the basis of “demonstrated need”. The means what THEY calculate your need to be, not how much you feel you can afford. I’d advise you to consider other universities.
First, review your Css profile and make sure no mistake was made.
Second, email Columbia financial aid indicating your EFC and what the NPC said, asking if there may have been a mistake somewhere.
Report your findings in this thread for next steps.
Columbia meets full need and is generous. However they do consider your assets such as home equity.
What’s your EFC and what did you end up having to pay?
@exlibris97 As I told you, the Net Price Calculator reported a number much lower than what I received (by ~20K). Moreover, I just received the financial aid package from Kenyon, and it came at a price lower than that indicated by the Net Price Calculator (which means that this truly represents my “demonstrated” need)
@MYOS1634 I would have definitely done that, but in the email, they said that appeals could not be made except after the final decision has been mailed, which happens at March 30th. My question is, could I negotiate an amount that great–does it ever happen that the financial aid office modifies by that much, or does it never happen?
And given the offer Kenyon made me yesterday, could I use it in the negotiations (it differs by more than 20K from Kenyon)?
It never hurts to try to negotiate. You might just get lucky. It’s possible that an internal error was made at CU. These things happen! In fact you may want to approach them from this direction. “Probably there was an error and I’m wondering if you could look into these figures for me. I’d love to attend if possible . . . etc”
First you don’t 'negotiate '. Never use that term.
You ask for professional judgement in reviewing your case.
The steps outlined above are not about an appeal. You need to check a mistake wasn’t made on your or their part.
Only when you’re sure it wasn’t a mistake (typo, etc) can you think about an appeal.
Hmmm…Very insightful remarks. Then, I will try to check with them if everything is Ok, and I will come back to this thread with the result.
Again, thanks a lot for your important information!
Is any part of your financial aid package from Kenyon a merit scholarship?
Remember each school has their own formula for evaluating a family’s financial need.
Kenyon is not a peer school to Columbia so it may not matter to them what your financial aid award is from Kenyon.
Make sure that you answered all of the questions in the net price calculator correctly and you put everything in the correct place
Columbia States