hi, I’m an international student (UK) looking at studying in the US. I know that some of the ivies are need blind for international students and that some do offer financial aid for internationals, but I’m in a position where my parents earn ‘too much’ for me to be eligible for aid, but at the same time, they wouldn’t be able to afford $60,000+ per year?
Would it still worth applying for aid, or would I not stand a chance? I’d be grateful for any advice.
Thanks
The problem will be first getting into those schools as they are incredibly selective. If you think none of those schools you are interested in attending will be affordable, apply to schools that offer merit aid (discounts).
How much do they earn? How much are their assets (homes, other real estate, stocks/investments)?
Where did you apply?
What are your stats/major?
My dad is the only parent who works. Earns around £300k, but because we’re a family of 6, mortgage, school fees for other children, very high living costs in London etc. would not be able to afford giving away an extra £50k a year…Not really sure about other assets. Our house was bought for £163,000 ($250,000) 10 years ago but the value is about 8 times higher now, but only due to instability of the housing market in London. They have another house (again bought very cheaply) now worth a lot more.
Haven’t applied yet. My stats are all UK results (8As 3As GCSE, 4As AS, predicted 3As 1A for A2) and I’m yet to take the SAT.
You face the same problem as many US citizens. Your need to look at schools that you can afford, and look at schools that offer generous merit scholarships.
Financial aid people look at people with high income and multiple property with the idea that one home could be sold or rented out and those funds used pay for an education. Many people do not have a spare home to use as an asset for college educations - your family has that resource that can be tapped; yet people with those assets tend to consider the asset a handicap instead of an advantage.
To answer your questions, it is not worth it to apply for aid and you won’t stand a chance.
Your parents have millions of USD in assets, and your dad earns almost half a million USD per year.
Wow.
The fact that your parents choose to spend money to send their children to private schools and live in an expensive neighborhood is just that - their choice. The fact that they choose to do that and do not have $60K/yr. to send you to a private university in the US is not the problem of said private university.
As mentioned by others, you will not get financial aid. Find out how much your parents can afford and go from there. Good luck.
<<<
Earns around £300k, but because we’re a family of 6, mortgage, school fees for other children, very high living costs in London etc. would not be able to afford giving away an extra £50k a year…Not really sure about other assets. Our house was bought for £163,000 ($250,000) 10 years ago but the value is about 8 times higher now, but only due to instability of the housing market in London. They have another house (again bought very cheaply) now worth a lot more.
<<<
You’re not going to qualify. Your dad earns a LOT. Your family has a LOT in assets (lots of equity in TWO homes)…and your dad likely has good savings/investments.
IF you want to go to college here in the US…your family either has to PAY…or you can go where your stats will get a good bit of merit.
Your situation is no different than many other affluent families.
I just have to ask. Do you really think you should qualify for need based financial situation given your very high family income? Do you?
You have far too much income to qualify for need based aid based on what you posted here. Too much income, and too many assets. But go ahead and apply. Let the school determine your need.
Your family will need to list all of their income, and all of their assets. Many of the more competitve schools also consider primary home equity in the equation. As noted…yours is very high.
And the full equity in that second home will be used…period.
What WILL your parents pay annually for you to attend college? Get that number, and then work with it.
Are you currently a HS senior, because if you are, you have missed many deadlines for merit aid awards, should you qualify, which coild soften the financial blow.
Keep in mind, many, many colleges in this country offer either no, or very limited financial aid to international students. You should also be looking in the UK, where your costs will be less expensive.
P.S. I see on your other thread that you are planning to take a gap year to strengthen your application prospects to Ivy League schools. A couple of suggestions regarding that…
You need to cast a much wider net than the very top U.S. colleges…and esoecially if you are going to chase merit aid.
OP, why do you want to study in the US even though you have great options in the UK?
You won’t qualify for financial aid at Ivies. Your academic record is excellent, but so is the academic record of 80% students who are rejected top Top 25 universities and LACs. Run the net price calculators on a variety of colleges. I’d suggest a public university of your choice (UVA?), a top 25 university, a top 25 LAC, to start with. Then compare with universities and LACs ranked in the top 50 (that’s still roughly the top 5% of American institutions of higher education): are some cheaper due to merit aid?
For example, you may get merit aid at Dickinson or Tulane.
I know there are great options in the UK. I have applied to universities in the UK, but I was rejected by my first choice (Oxford) and don’t want to go anywhere else. As a result, I’m reapplying to the UK and applying to the US as well, as it was suggested to me by a lot of teachers.
For families in your income bracket, if the student plans to go to an expensive school, the parents have saved for some years for that purpose and have that money set aside. They aren’t paying 60k out of current earnings, it is a planned expense. I do know some kids that had 250,000 each set aside by the parents and the child could spend it on college or grad school. One choose to go to a free tuition school instead an Ivy that he was accepted to and got to keep the money. He is now using it for his medical school expenses.
Myos1634, the next price calculators will not be accurate for international students.
Dominicoben…you need to cast a far broader net than Ivy level schools if you were not accepted to Oxford. The schools here are as competitive…maybe moreso…as you are an international.
Have you talked to your parents about college funding? If not, you must do so…now.
Get that SAT taken NOW. What is your GPA? Most merit scholarships at schools here are based on your SAT or ACT score, and your GPA. Without knowing those, it is impossible to gove you any good application options.
But really…you won’t qualify for need based aid anywhere in the U.S. in my opinion. Your incime and assets are WAY to high.
But you might be able to garner some merit aid. But it’s not going to be at the Ivies (where no merit is given anyway).
What other schools are you researching here in the U.S.
I wish I had a dime (a pound?) for every time someone said:
" but I’m in a position where my parents earn ‘too much’ for me to be eligible for aid, but at the same time, they wouldn’t be able to afford $60,000+ per year?"
Sigh.
^^
I feel sorry for them. With many of them, it is the first time they come up against something that is too expensive. My kids? They were used to being told that we couldn’t afford something so they knew they needed to look at less affordable colleges and deal with disappointments.
Well…clearly you WILL need to attend college someplace other than Oxford. Did you only apply to one college? Were you accepted elsewhere this year?
What schools are you targeting here?
Do you have qualifications that would put you in the running for Oxford’s peers in the US? While British scholarship and admission processes emphasize excellence in exams, American schools are used to high levels of achievement outside the classroom as well. What are your extracurricular achievements?
That said, even if you were to get into Oxford’s peers in the US, from Harvard to Chicago to Brown, how would you pay for it? These schools promise to meet need for international students, and some are even need-blind. But they will probably not give you one $ because aid is awarded based on need only.
It looks as though, then, if you want to study in America, you should probably look into schools that simply cost less, like Purdue ($44k/year), University of Alabama, Truman State… or, alternatively, you should look into schools like Grinnell and Beloit and other liberal arts colleges and universities that give good merit aid.
^^ That said, if I were you, I would probably try to go to St. Andrews/Sheffield/UCL/Cardiff/other schools in the UK before I went to Purdue.
I have applied to universities in the UK, but I was rejected by my first choice (Oxford) and don’t want to go anywhere else.
≥≥≥≥≥≥≥≥≥≥≥≥≥≥≥≥≥≥≥
If you don’t want to go anywhere else why would you apply to US schools