<p>@mhmm. Thanks for the “reality check”, but if we got into schools like Vandy, I’m sure we already know.
Sometimes the sacrifice isn’t worth putting as much of a financial burden on our parents. But you’re input is appreciated. (kinda… But not really)</p>
<p>^^If you got into schools like Vandy and “already know”, then you can imagine how people feel when they are asked to donate to the colleges for scholarship programs and then read comments like yours. If the sacrifice isnt worth for your family, then why should others sacrifice to donate to scholarship funds for upper middle class families? So that they can buy new cars? Now that’s a concept that’s kinda…not really appreciated.</p>
<p>Vanderbilt gave me the best aid by far. It’s cheaper than my state school (mizzou) and 4,100 cheaper than Bowdoin, my next best offer. I appealed at both schools though. People here should give it a try before time runs out.</p>
<p>rmh8940…the honors program at UNC is really a fine program. You get many perks unavailable say at UVA --our flagship college --where Echols is pretty much limited to advantages in course selection and admittance.<br>
Vandy is very difficult to pay for in this economy where risks and loans are even less sensible than five years ago…if you don’t have a lot saved and if you don’t qualify for their generous need program.<br>
So many of our finest students in VA from places like Thomas Jeff Gov School end up at our great state colleges UVA and Wm and Mary for the same reasons.
UNC also has a very large loyal alum network so good wishes there and I imagine you will leave your mark there.</p>
<p>@mhmm
The financial burden would have put my family on the verge of bankruptcy. We would’ve had to purchase a smaller house (which we can’t afford to buy… Let alone wait for our current house to sell). I think a lot has changed since you’ve been in school… Including the price tag and the standards of acceptance.</p>
<p>Did you family run net price calculators to see what their expected contribution for your college education might be before you applied? </p>
<p>Does your dad actually own the apartment, i.e. is it a condo? Usually apartments are not assets. They are owned by someone else and people who live in them pay rent each month. The rent does not go towards eventual ownership. It is income for the person who owns the unit.</p>
<p>Appeals rarely go through unless there’s a really significant part of your finances or income that isn’t mentioned in FAFSA/CSS. As far as I know, they do not consider offers from other schools. </p>
<p>“Unfortunately, we are only able to make adjustments to a student’s file based on certain circumstances. These circumstances include the loss of a job by a parent, the separation and/or divorce of the student’s parents, a one-time withdrawal from a retirement account or a significant difference in the next years’ income versus the current year.”</p>
<p>The finaid calculator really works in favor of some people and doesn’t for others. Was my best offer by far, and beat other schools that also guaranteed to meet 100% need. It was not the same as the FAFSA EFC, which is unrelated to what Vanderbilt determines your “need” to be.</p>
<p>It never hurts to ask if Vandy (or any school) can do better once they make a FA offer. My friend is a senior at VU, and they made his parents a better offer once they asked.</p>
<p>The financial aid VU gave my daughter was better than what she received from any of the other schools. It went up her second year because her younger brother started college (elsewhere) and Vanderbilt took that into consideration, which was very generous and helpful of them :-)</p>
<p>Ours isn’t a issue of “We deserve to be given a top education for nothing.” We don’t have out stretched hands, We have fully expected to pay our way, including our S’s education. We had never even considered Vandy. It was always too expensive. When S’s GC recommended that he apply, I told her there was no way we could afford it. She then told us how Vandy would meet 100% demonstrated need. We took the tour and S fell in love with Vandy. The Vandy guides reinforced the cost issue - that they wanted the biggest hurdle to be getting admitted and that 100% of demonstrated need would be met. </p>
<p>So we have applied. Well I just got back my EFC from FAFSA and I about fell in the floor. It equates to 40% of our take home pay. Now I am not sure how they think a middle class family can afford 40% of their budget. Once we pay for mortgage, food, insurance, utilities, etc - there is not 40% left to spend even if we did nothing but survive. Borrowing is not an option - due to the economy we are maxed out. We do have a small 529 that we put money into until the economy tanked, but it isn’t even 1/2 of what the Fed’s say we can pay for one year. I guess we are just disappointed that we were given hope that Vandy would be a viable option. I think I would have rather never been told about the “meets 100% demonstrated need.” We never imagined him going to Vandy until a few months ago. Ignorance is Bliss.</p>
<p>Don’t get me wrong, we are fine with the scholarships and education offered by the affordable schools remaining on his list. They are fine and highly accredited schools. I just hated letting my S believe that Vandy was a possibility, when it never was.</p>
<p>The EFC calculation by FAFSA is not the same figure as the FA which will be offered by Vandy. Don’t jump to conclusions. Wait to see what Vandy will offer.</p>
<p>“The EFC calculation by FAFSA is not the same figure as the FA which will be offered by Vandy. Don’t jump to conclusions. Wait to see what Vandy will offer.”</p>
<p>Wow - thanks so much for posting this, my family and I were very discouraged! Thanks!</p>
<p>It is really, really important to understand what “meets need” means … and the only way to have any idea what it means for YOU personally is to run an EFC calculation with your numbers … before applying to schools. You will at least have an understanding of what you are up against if you apply. Even though Vandy does calculate the EFC for institutional aid purposes differently than the FAFSA calculates EFC for federal aid purposes, a calculator will at least give a ballpark figure. The point is, the need that is being met is not what you think you need, but what they think you need (“they” being those who put together the formula used to calculate your need).</p>
<p>Here is the link to Vandy’s NPC, which from anecdotal evidence on this forum appears to give a pretty good estimate: [Net</a> Price Calculator<em>|</em>Office of Financial Aid<em>|</em>Vanderbilt University](<a href=“http://www.vanderbilt.edu/financialaid/net-price-calculator.php]Net”>Net Price Calculator | Office of Financial Aid | Vanderbilt University).</p>
<p>I feel like I will be joining you guys since I applied to Vanderbilt as well. I was at Hopkins last fall and left but I felt the price of 60k was stupid for an education. No offense I just couldn’t stand feeling the guilt that I wasn’t always performing my best and my parents were having to take up loans just for me.</p>
<p>I am now applying to UMD, I don’t think I’ve ever felt so upset. I have always wanted to go to Vanderbilt and from what this forum is saying I won’t get any aid…</p>
<p>Incoming freshmen need to remember that you might get an academic scholarship. Don’t lose hope! You have already applied, so wait and see. Also, when you get your award letter, be sure to pull out the relevant info. Vandy has a lot of money in the cost of attendance for personal and travel expenses - you may very well be able to spend less. I suggest pulling out only tuition, fees, room and board. Subtract any need based grants or merit scholarships offered. This will be what you will really owe. Remember that you can borrow a $5500 unsubsidized loan, even though it is not in your financial aid offer; you just need to ask them for it. </p>
<p>It is good to know it might not work out, but you never know. </p>
<p>I just did an NPC, and we would definitely pay more today than we had to pay for our daughter, who graduated in 2011. That is because both my husband and I earn more now than we did when she started school (I returned to full time work & our total income went up to the “take it all” range). We would not have sent her to Vandy if things were like they are today, if all she had received was need based grants. We simply have not earned this much long enough to allow us to afford what we would have to pay. That is, unfortunately, the way things are sometimes.</p>
<p>Did you guys use Vanderbilt’s Net Price Calculator before getting your hopes up?</p>
<p>[Net</a> Price Calculator | Office of Financial Aid | Vanderbilt University](<a href=“http://www.vanderbilt.edu/financialaid/net-price-calculator.php]Net”>Net Price Calculator | Office of Financial Aid | Vanderbilt University)</p>
<p>As for me, Vanderbilt seems to offer the best financial aid out there. Its need-based isn’t as good as HYPetc (the very most prestigious schools) but its 5k for 4yrs National Merit Scholarship outstrips them.</p>
<p>With a work study, I could graduate with just 10k in loans. If my parents contributed, it would be even lower.</p>
<p>That’s if the Net Price Calculator is accurate, of course…</p>
<p>You need to be a little bit careful about assuming that you will get the entire $5000 for the National Merit Scholarship in addition to the Need-Based Grant that was calculated using the Net Price Calculator. A portion of the $5000 can be used to replace the Work Study amount in your calculated aid but you might see a reduction in your Need-Based Grant for some (or all) of the remaining scholarship amount.</p>
<p>Well. I’m screwed, then. </p>
<p>I really need them to give me a break. >.></p>
<p>You all make it sound like Vandy is out to get you. It’s one of the best financial aid programs in the country. You’re pretty unlikely to see any other schools offer you more money solely on the basis of need and not at ALL on merit.</p>
<p>They try to be fair to all students by running everyone through the same formula, and it’s a formula that gives out a lot of money. It certainly works better for people with certain financial conditions but such is life.</p>
<p>I am amazed at the hand-wringing about Vandy’s very generous FA. </p>
<p>The Washington Post named Vandy in “The twelve best college financial aid policies” by Daniel De Vise, 7/11/2011:<br>
[The</a> 12 best college financial aid policies - College, Inc. - The Washington Post](<a href=“http://■■■■■■■.com/646ky4w]The”>http://■■■■■■■.com/646ky4w)</p>
<p>Kiplinger’s has Vandy as number thirteen in best values among private colleges (Don’t expect the public colleges to be nearly as generous):
[Kiplinger’s</a> Best Values in Private Colleges-Kiplinger](<a href=“http://■■■■■■■.com/ad6lwur]Kiplinger’s”>http://■■■■■■■.com/ad6lwur)</p>
<p>Numerous other studies readily available on the web will confirm Vandy’s status regarding very generous FA.</p>