<p>Hi, I've just been admitted to Colgate under EDI, but as much as I'm delighted with the offer, the financial aid package really concerns me ! I originally filled out in the CSS that my family could be comfortable with $5000 a year (I know, such a small amount for US colleges...) since they have only been able to set aside $30,000 (for both my bachelor and master degrees). I know it's a bit stingy but that's what we decided to tell them.
But now my financial aid package is determined to be $48,000, leaving my family with approximately $14,000 a year @_@ ! That is not to say the unexpected expenses like flights home, holiday accommodation or health expenses,...
This is very very heavy on my family's financial scene and I would want to appeal for an increase. I've heard that there has to be a significant change i financial status or urgent need for the package to be reassessed, but I have spread out nearly all the details in my CSS Profile and now unable to provide them with much extra information besides the reasons listed above! What should I do now ?</p>
<p>Really? @@ I thought Colgate pledged to meet 100% need?</p>
<p>The thing is, Colgate doesn’t really care that you family is comfortable with $5k a year. Colgate will meet full need as they calculate it, and from their calculations, they believe your family should be able to afford $14k/yr. Most American families similarly have to make sacrifices-- because the amount of money each school has is limited, the expectation is that families will make sacrifices in other areas to pay for school, not just what is ‘comfortable.’</p>
<p>What is your family’s annual income in US dollars? The $30k savings will also be assessed for your bachelors’ degree now-- Colgate won’t consider that it is also intended for a master’s degree.</p>
<p>I think you might be in trouble buddy! Schools do NOT care that you don’t want to spend money on them. When they say they meet full need they do a calculation of how much you can reasonably afford based on your income and assets. they might look at SOME stuff like huge medical expenses sometimes but they don’t care that you simply don’t want to spend more than $5000/year to attend if they see that your family can afford to pay more and they especially don’t care that you want to split up your savings for future college expenses. Heck, they won’t even let you divide up those assets over 4 years of bachelors – they might even count all of that an asset for THIS years college costs!</p>
<p>I would really look to see if you can get out of ED agreement if $14k is a delabraker because there is really no easy way to get them to increase your aid unless you can give them a reason beyond, “we don’t want to pay that much”.</p>
<p>I hope it works out for you buddy! :D</p>
<p>I think you can back out of ED if the financial aid is not adequate.</p>
<p>Think, Colgate, Colgate University, you just got admitted to Colgate University for $14,000 per year, sounds like a bargain to me.</p>
<p>I know 5,000 is very unreasonable, and would be able to cope with 10,000 a year…
But the extra 4000 is a serious concern for my family, and I was wondering if I can appeal for a few more to make the situation less severe. I really want to attend Colgate.</p>
<p>You are usually permitted to file an appeal but the PROBLEM is that you dont seem to have a real reason for them to give you more aid. Is there any new information about your circumstances that were NOT included iny our original financila aid application that have come to light now? Like a job loss or a medical thing??</p>
<p>One other thing – if the gap is $4000 – is a campus JOB included in the finacial aid package that Colgate awarded you? if not, you could try to pick up both a summer job AND an on-campus job to see if you can bridge the gap between the costs of admission and the financial aid package. you probably won’t make $9000 a year but you could probably make $2-3000 a year for each job combined with the other one (so for both jobs combined, i should say).</p>
<p>What your family deems affordable and even if they have good reason, isn’t what determines financial aid. That question of what you can afford is in hopes that you come up with MORE than the school formula would give you, not less. None of the schools take into consideration what you want to pay, are comfortable paying or are able to pay, except with their own formula. If people can pick a number as to what they will pay, you’ll get noone wanting to pay anything, or pay very little. </p>
<p>You can appeal, and you can ask them to review the file and tell them your situation. Also ask if there are less expensive rooms available, and start looking for the cheapest way to get there, and maybe you won’t be going home much, if at all. You may have to work. You can cut some of the discretional costs down such as books, supplies, etc and after freshman year, there may be off campus living possibilities to cut down even more. You can look for baby sitting, cleaning and other such jobs. </p>
<p>Be aware that you may have to also show that you are covered by adequate medical insurance, and if you are not, have to buy a student policy. Some schools include that in their costs, others do not, and it can be yet another couple thousand a year and is mandatory in NY, I believe. </p>
<p>This is a prime example, yet again, where ED is not a good idea for those who need money. You have to make the decision to take the chance of letting this go and maybe not getting another offer as good or suffer through this financially. It would make the picture a lot clearer if you had other answers from other schools so you know you have other options and can weight them. With ED, it’s fish or cut bait.</p>
<p>Yes, I agree with the idea of doing campus jobs and jobs during christmas break and summer break. That will be a big help. You got a very good aid package.</p>
<p>My work-study award is about 2000 a year, and the school wouldn’t let me take on an off-campus job. It’s not like I desperately need to fly home or anything, but the lodging and meals for the holiday when school’s closed is very expensive. A health insurance is not included in the package, and I’ll probably have to cash out about 900 for that as well.
Of course I’ll try to work as much as I can to help pay for college and cut my spendings to a minimum, if that helps out much. Oh, should I mention that my parents also have to begin setting aside money for my brother’s college years from now, since the $30,000 are definitely gone for good?</p>
<p>I’ve just gone through their financial aid appeal form and it states there that the package will not be reassessed if the reasons are concerned with expenses that HAVEN’T occured. And here’s pretty much the end of me, since I was planning to ask them to consider other expenses not listed in their total yearly attendance cost:
-Medical expense: I have none since medical charges for trivial illnesses are not that big in Vietnam, but if I move to the US it’s absolutely necessary. The school’s medical insurance is to be obtained with about $900
-Holiday lodging/Flights home: since the package doesn’t include “rooms and boards” for holidays, I thought flying home was a cheaper option, but now maybe it’s best that I ask them if they can support me a bit in these months. Is that viable?
-Savings for brother’s college: huhm, already violated the “Haven’t occured” code, that’s bad :(</p>
<p>I guess it was my fault for misunderstanding the “need” in “full-need”. Thanks everyone all the same for your valuable opinion!</p>
<p>Colgate generally provides free board and lodging for poor international students who can’t go home during Christmas breaks, thanksgiving breaks. During summer, these students pay a certain amount for lodging.</p>
<p>Well, it really depends too on how much your parents earn each year. Our family has $30,000 in savings just like yours, but with only a single mother earning $5500 per year and a brother about to get into high school, we have to state we can pay $5000 although the net price calculator gives out $1800. So… you get the thing: they charge according to what you CAN pay.</p>
<p>Anyway, what’s the income of your parents? That has a lot to do with why you have to pay $14,000.</p>
<p>You can appeal, but if you didn’t look at the **total cost of attending Colgate<a href=“flights,%20meals,%20insurance,%20books,%20to%20and%20from%20airport%20travel,%20incidental%20expenses”>/b</a> and assumed that all of your expenses would be covered, you shouldn’t have applied ED. More than likely, your aid won’t change much.</p>
<p>ED suggests that, **no matter what<a href=“finances,%20weather,%20accident,%20etc.”>/b</a> you will attend the school if admitted. The schools don’t look at what you WISH to pay; they look at what you have and make their own formulas for calculating how much aid to give you. It’s not personal, it’s business. They have so few dollars and they have to spend it on a lot of students. Additionally, if you’re an international student, you have less options for federal aid in the US including limited work as a work-study student.</p>
<p>The lesson here is that you can’t afford this school; so you may want to take a look at your other options since some schools are still accepting applications and if you NEED FINANCIAL AID, you need to be honest with your answers. That 30K will affect your financial aid decisions. Use it as your INS proof of ability to pay for one year of school in the US.</p>
<p>My parents earn about 14,000 a year, but I have reported the possession of an estate < 40,000 of worth. Do you think that’s why my calculated contribution is higher than my family’s actual capacity ? That is, they suppose the estate will have to be sold off for me to attend college?
My parents kept telling me that they would try their best to cope with the amount though, even if it involves having to incurring a debt. I was indeed very hasty with my ED decisions here.</p>
<p>chisieumap, your cost is fixed for the next 4 years being an international student.
Now, in your second to fourth years, if you work as an RA (residence adviser)/CL (community leader), then they will credit you back the cost of the housing. That will decrease your contribution (the cost for housing this schoolyear is around 5500 for the two terms). So if your estimated contribution every year is 14000 (remember it is fixed despite inflation), minus conservatively 5500, then that will leave you with 8500). If you also work during the year aside from being RA/CL, then you earn more money to help pay. If you also work during the christmas break and summer break in the campus, you also earn (but remember you have part of lodging in summer, unlike christmas break) which will all help bring it down to your target of 5000 annual contribution. You just have to be resourceful.</p>
<p>@Chisieumap: According to what I know, estates other than your family’s own home will increase EFC. However, that’s only at a 5-6% of the total value of the assets, not that you have to sell everything (what Grinnell told me). I think that the way you completed the CSS matters (the expenses part does have some bearing). With such income and assets, I think that the college deems $14,000 a reasonable amount, even though it may be a bit above what you can pay.</p>
<p>Still, hear me. You got into Colgate. I’m applying for it too, and I know my chances are slim. If I ever make it, I will pursue my dream no matter what 
Big dreams come with certain sacrifices you know. Wish you the best of luck, from another fellow Vietnamese.</p>
<p>lol I’m Vietnamese and I’m applying too, although my chance of acceptance is like 5%</p>
<p>moneyp: I’ve never known it could help that much, and yeah I’ll just have to be resourceful when it comes to money
Thank you, thank you, thank you !</p>