<p>I have a few questions about my CSS profile that I don't have any resources to ask other than the CC community.</p>
<p>First of all, my parents do not have a savings account set aside for me. They used to have one but financial hardships sucked all of that money up. As of right now, they think they'll be able to contribute $2,000 to my 2014-2015 school year (at most). But the thing is that they don't make a seriously low income either. Both of my parents together made $89K last year. Will this be problematic in any way? Should I list that they may be able to contribute more than $2000? I've been searching around to see other people's situations, and some have parents who make less but predict that they'll be able to provide a greater sum of money. </p>
<p>Also, I work a part-time job and I made note of that on all of my college applications. However, it's not much. I make about $100 a month. I started this past October so I've made a little more than $300 in 2013. Do I list this this in the "Enter the income you earned or expect to earn from work in 2013" portion? </p>
<p>For the "Enter the total amount you expect to earn in wages, salaries, tips, etc. during the summer of 2014. (3 months)," will I be able to maximize my financial aid if I list what I think I'll be able to make? I'll only be able to make around $1000, but if it makes a difference I'll list in.</p>
<p>My point is, I really need financial aid to be going to college. I just have no idea how to maximize my financial aid through these profiles and my parents don't know either. If anyone could help, that would be much appreciated.</p>
<p>Need based aid will be based on your parents’ income…it won’t be based on what your parents say that they can pay.</p>
<p>*2,000 to my 2014-2015 school year (at most). But the thing is that they don’t make a seriously low income either. Both of my parents together made $89K last year. Will this be problematic in any way? Should I list that they may be able to contribute more than $2000? *</p>
<p>Yes, it will be a problem at schools where you’re expecting need based aid. With that income, the schools will expect them to pay about $20k per year or so. </p>
<p>Did you apply to any schools that will give you HUGE (HUGE!!) merit? If not, why not?</p>
<p>@mom2collegekids, I’m not too sure about the merit-based aid. I’ve applied to several safety schools, around 4, that may. But I honestly don’t know where I stand in terms of academic achievement so I don’t really know how to predict that. </p>
<p>Just to clarify, although colleges will expect my parents to pay more, will it just be best to honestly say that my parents predict to contribute only $2,000? Or what should I do?</p>
<p>Your “safety schools” are NOT safety schools if you don’t know if you can afford them. How would they be safety (back up) schools if those are your only choices and they cost more than you can pay??</p>
<p>What are your stats (include SAT breakdown)?</p>
<p>What schools are your “safeties”?</p>
<p>Yes, it’s fine that you put $2000. It’s rather meaningless. Schools don’t really do anything with that answer. they’re going to base their aid on your financial info…and they’ll base merit on how strong you are for the school.</p>
<p>If your parents can only pay $2,000, it would be wise to limit expenses as much as possible, as you will only be able to take out $5,500 in Direct loans.
Depending on your EFC, you may be eligible for work study, and now is a good time to start looking for a better summer job.
Will you be taking AP tests? I believe that the UW may grant credit, which can save money.</p>
<p>Thank you for your reply emeraldkity4. Will the Explanations/Special Circumstances (ES) section help at all if I explain my situation? It’s not really anything special… But will it help at all?</p>
<p>Colleges will not consider your “only can pay $2k” situation. They have their own formulas and will calculate your financial aid, based on what they believe you can pay (based largely on your parents income). </p>
<p>Can you attend UW while living at home? If you can, then maybe you should attend as a part-time student, allowing you to take the amount of classes you can afford and then take more when you can afford more.</p>
<p>You will likely be expected to pay well over $2000 at any of your college choices (including community colleges). </p>
<p>Perhaps your parents could adjust their budget to pay more. They can make monthly payments, rather than pay a big lump sum. Maybe that would help.</p>
<p>Did you do Running Start?</p>
<p>The explanations/special circumstances likely won’t help you as it sounds like you don’t have any (lawyer bills, doctor bills, illnesses, etc). It just sounds like an issue of personal choices by your parents. Paying for your college is also a personal choice and one that colleges expect them to choose if you are to attend.</p>
<p>Just from what you have posted, it doesn’t look like you will be able to afford any of the colleges you are applying to. What is your FAFSA EFC showing up as??</p>
<p>Lyndak, that PROFILE question causes a lot more trouble than it’s worth. It doesn’t carry weight when you put down less than what the college formulas are going to say your family should be paying. So I would put down $2K. I tell people to be very conservative about that number because there is always that chance that a college will take your parents up on that number. But the only time it piques interest is when it’s higher than what the formulas would generate.</p>
<p>The biggest impediment you are going to have in terms of being even eligible for financial aid is your parents’ income number, if it’s high. That number is what pretty much drives your aid possibilities. That’s how the formulas work. With an EFC of 13, 102, what that says is that is the LEAST, that you and your parents are going to be expected to pay unless the cost of the college is less or you get some merit scholarships. The federal aid starts AFTER you come up with the $13,102, is generally what this means.</p>
<p>The fact of the matter is that very few schools guarantee to meet full need anyways. None of the schools you listed do. Doesn’t matter if you can’t afford the school, they don’t give much more if any than what the federal/state entitlements are. For federal, if you are very low income you can get up to about $5600 in PELL grants a year, with a zero EFC up to about 5000 when it is phased out. So you are not going to get a penny of that. You can personally borrow up to $5500 freshman year, with some of it possibly subsidized in terms of interest while in school. The rest depends upon your state and the school. So that’s all that’s out there for sure.</p>
<p>Most state schools cost about $25K to do a sleepaway. Just an average here. So with $6K from parents, and $5500 that you can borrow, unless you get a scholarship, a merit one, we are talking a gap. So you should be looking at some local state school options and schools where your numbers put you at the very top of their applicant pool. Some local private schools, Catholic schools are some ideas. If you like the NYC idea, take a look at Manhattan College in the Bronx. They give out some nice aid, and the sticker price is lower. If you are a NY resident make sure you apply for TAP as you might qualify for some funds that way. NY state schools tend to meet full need in terms of tution and fees, but they do not usually cover room and board when it comes to aid.</p>