Is low income really a hook?

Applying to College
1

<p>I read this article in the Yale site:
<a href="http://www.yaledailynews.com/article.asp?AID=30722%5B/url%5D"&gt;http://www.yaledailynews.com/article.asp?AID=30722&lt;/a&gt;&lt;/p>

<p>Now, I am NOT applying to Yale, but I am applying to other great business schools that are very prestigious. Is it true that being from a low income family is helpful in terms of attaining diversity on campus? Is there really a lack of poor people at the Ivy League? Thanks. </p>

<p>(btw, reference to any statistics regarding this will be appreciated as well.</p>

2

<p>If they say it is, I don't doubt it. I don't work for an ivy, but at my school we definitely give extra consideration to a student from a lower socioeconomic group.</p>

3

<p>Some people say its a scheme to get more people to apply and that in the end the wealthy applicants gets the upper hand. I know this doesnt sound right, but to what extent is this statement true?</p>

4

<p>It isn't generally a hook, but it should be. Low income means that the school has to pay more money to give you aid, etc. However, I think that socioeconomics is why the world is unfair opposed to race. Low income should be considered what URM status is. Some schools like Wake Forest are "need-blind" which means they don't look at finances until you are admitted.</p>

5

<p>Low-income may be considered a hook, and is a bigger hook when combined with other thingssuch as being a first generation college student or URM. </p>

<p>However being from a low income family alone is not enough to land yourself into an Ivy. As with all students your grades and scores are looked at in context of what you bring to the table. </p>

<p>A student with a 4.0 at a low performing public shool who gets a 1350 on the SATs who holds down a part time job to help contibute to the family, and active ih hs/her high school will be looked at differently and perhaps be more desireable than a student with a 1490 from an affluent family whose EC's require money, whose test scores are a result of tutoring.</p>

<p>The biggest hurdle is still being admitted. However, once admitted, the Ivies do meet 100% of your demonstrated need with large amounts of grant aid. For some of these low income students they can obtain an ivy league education for less than the cost of attending their local college or walk away with very little or no debt.</p>

<p>Princeton has no loans, so a student could graduate virtually debt free (yes they may have some work study)</p>

<p>Harvard & Yale both have similar initiaties for low income families : Yale's financial aid policy underwent sweeping changes last year, when the University removed the parental contribution for students from families earning under $45,000 and reduced it for students from families earning between $45,000 and $60,000.</p>

<p>Dartmouth </p>

<p>the Class of 2009, Dartmouth students whose family incomes are less than $30,000 will receive financial aid packages without student loans. The portion of the package that normally would be composed of loans will be replaced with additional scholarship funds. Barring significant changes to family financial circumstances, this no-loan financial aid package will be renewed each year for all four years. </p>

<p>Starting with the Class of 2005, students whose family incomes are less than $45,000 are currently receiving and will continue to receive financial aid packages without student loans during their first year of study. Additional scholarship funds are used to replace the loan portion of the package. Depending on individual family financial circumstances, modest loans ($500-$1,500) may be included in subsequent years for these students. These students can expect to graduate with among the lowest debt burdens of any students graduating from any college in the U.S.</p>

<p>Brown</p>

<p>In September 2004, Sidney E. Frank, a member of the class of 1942, made a gift of $100 million to Brown University—the largest gift in the University’s history—to establish an endowed scholarship fund that will provide financial assistance for the neediest undergraduate students at Brown University who could not otherwise afford the full cost of tuition and other costs of receiving an education at Brown. Recipients of the scholarships from this fund will be known as “Sidney E. Frank Scholars,” and they will receive financial assistance that will replace standard loan expectations with additional scholarship.
Frank Scholars will not have a loan as part of their standard financial aid package. Additional scholarship funds will replace any loan amount that would normally have been part of the student’s financial aid package.</p>

6

<p>Sybbie, I am half hispanic and my parents make 18k combined. But I own a business that made 15k this year, but I used ALL the money over my non-profit organization to purchase books to be donated overseas. Will my business harm my financial package? Thanks.</p>

7

<p>I am not that savvy on the business ownership part. I recommend that you post your question on the FA forum as there are a number of people who own their business that can give you a better answer.</p>

8

<p>Okay, thanks. I was just wondering this because my organization has tax exempt status.</p>

9

<p>while your organization may be tax exempt, are you drawing a salary?</p>

10

<p>No, I do not keep any of the money for personal use.</p>

11

<p>i was wondering, do i have to specifically go to a low-income high school to be considered low-income? because my parents make less than 30K annually combined and neither are us citizens (they're permanent residents)
however, i go to a suburban public HS that'd id classify as middle-class, and it's a Blue Ribbon School</p>

12

<p>Your parents must make below 40k.</p>

13

<p>
[quote]
Some people say its a scheme to get more people to apply and that in the end the wealthy applicants gets the upper hand. I know this doesnt sound right, but to what extent is this statement true?

[/quote]
</p>

<p>I've known a lot of admissions professionals. I can't imagine any of them endorsing a plan that tricks the poorest students into applying, just so they can turn them down. The "Some people" who say this are extremely creative, but not credible.</p>

<p>The truth is, on most elite campuses, the socioeconomics are slanted--there are more students who come from wealthy families than you'd find in the general population and even in the college-going population. Colleges want more diversity than that, and they want to feel like they're participating in the mission of education as social and financial advancement. So to the extent that they can attract qualified students from lower incomes, they'll work to do that. Even if it means those students need big aid packages.</p>

<p>I've heard people allege that colleges will do anything to up their application numbers. I am skeptical of that, but even if some do, I highly doubt they'd make special efforts to lie to poor students about poverty being a "hook" when it's not. Especially not the Ivies, who aren't exactly hurting for applications.</p>

14

<p>Yeah, that would be unfair. The app fee is really high for my family.</p>