<p>Hi! I got into Lehigh and their honors program, but the financial aid package is only $3,500 in Stafford loans, which is not nearly enough. What could I do to have them reconsider? I read something about requesting a "financial review." Should I call/write/set up an appointment? Should I tell them about competing offers or just how much I love the school? And what are the chances that they will award more money if we talk to them? Thanks so much!</p>
<p>what is your EFC and you do realize they use the CSS which most likely will be a higher amount than the EFC the fafsa gave you.</p>
<p>our EFC was $46,000 but that is a bit overestimated</p>
<p>If you request a financial review, you need to be prepared to discuss any changes to your financial asset/income situation that was not considered during their initial review of your finances for need based financial aid purposes. If your EFC was simply much higher and you did not receive sufficient need based aid, you are probably in the company of a great many others who were accepted to Lehigh. </p>
<p>You certainly can try to discuss your financial aid offer with them. Some schools will discuss this and others simply won't.</p>
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<blockquote> <p>our EFC was $46,000 but that is a bit overestimated>></p> </blockquote>
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<p>How do you figure this was overestimated? The CSS Profile gave Lehigh information that THEY used to determine what your family could contribute. That is what schools do. They take the info and use it. Schools that use the CSS Profile can use the financial information on it any way they choose. Your EFC is well in excess of the cost of attendance at Lehigh. That being the case, unless some special circumstance has taken place (loss of income for example), it is unlikely that they will review your financial aid award...but go ahead and ask. Nothing ventured, nothing gained.</p>
<p>well there are no change in circumstances to file. it is just that the CSS only takes into account income, but minus our monthly expenses (high due to the regional high cost of living) and there is not enough to contribute. will showing them this and a great interest be enough of an argument?</p>
<p>Let me ask this. What do you think your family can pay?</p>
<p>would an extra 2500 make a difference?</p>
<p>They don't care too much if the cost of living is high in your area.</p>
<p>and if the EFC was 46K that did NOT include the value of your home, just income and assets (cash, cd, stocks)</p>
<p>hm i think we would need upwards of $15000 to afford it</p>
<p>Kari, everyone has expenses...housing, food, taxes, clothing, etc. And many folks live in pricey parts of the country. The reality is that the Profile also takes into consideration your family assets (including home equity...and yes, there is an expectation of some schools' parts that your family will borrow against it if necessary).</p>
<p>With an EFC of $46K, your family annual income is probably in the $150,000 plus range. That is nearly THREE TIMES the national average. </p>
<p>Schools also assume that folks in that income range (actually all folks) will contribute to college costs through past earnings (aka savings or home equity), current earnings (income) and future earnings (loans). </p>
<p>I personally don't think that pointing out your high expenses relative to your income will net you much...as that is viewed as a choice...but you can certainly try. I'm not the financial aid officer at Lehigh. This is just my opinion.</p>
<p>Thank you Sue and Thumper. I will go try and see what happens...</p>
<p>Where do you live? I'm really curious as to what other people consider a 'high cost of living area', NYC and lots of places in California come to mind.</p>