<p>U of Chicago did not do this until after he was admitted and they were ready to off an aid package. Thanks for shedding any light on this. It seems a pretty invasive thing to ask–since that info is on the FAFSA–if they are not going to admit him.</p>
<p>The financial aid office isn’t in contact with the admissions office, and they really do put together aid packages for everyone who applies. Being contacted by the financial aid office isn’t an early indication of admission.</p>
<p>If I don’t send any documents to IDOC, will my financial aid package be delayed or not sent at all? Also, Is it too late to email the admissions office about activities not mentioned on the midyear report?</p>
<p>tcgraff57: every freshmen MIT applicant who applied for financial aid was required to send in copies of their income tax returns, W2s, 1099 and other forms through the IDOC process.</p>
<p>Yes, but unlike most schools, MIT guarantees to meet each student’s full financial need for four years of education. As a result, it is fairly intrusive, or at least more intrusive than many schools that do not have such a commitment.</p>
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<p>The information was due then if you wanted to get your FA package returned by 1 April. The purpose of that is to have the FA package in your hands in order to use that information in trying to decide whether to accept an offer of admission. Even though it is March, it is not too late to apply for FA. It is however too late to apply and have Student Financial Services guarantee to have the package to you by 1 April.</p>
<p>^^Mikalye, would you please clarify your point about MIT’s guarantee of full financial need for four years?</p>
<p>My family has come across several schools who claim to meet the student’s full financial need for four years. Are you saying that MIT’s guarantee is different in any way? My understanding of that sort of policy is this: MIT (or any of the other myriad schools that offer such a thing) will determine a student’s need, based on the CSS and/or FAFSA, and then meet that need using grants, need-based scholarships, and/or work study. Each year, the student will re-apply for financial aid, and again, the school will meet the determined need. That “need” will often be much less than what a family might determine for itself. For instance, a family might feel like they could only pay, say, $15,000 a year, but their FAFSA and/or CSS Profile might well determine that they could pay, say, $38,000 per year.</p>
<p>Is MIT’s financial aid policy any different than that, in your understanding?</p>
That hasn’t been announced yet – it will probably be announced this week or next. Decisions have been released on Pi Day for a few years now, but this has not always been the case. MIT will let you know when decisions will be released soon.</p>
Or next? As far as I’ve been able to go back, decisions-day has been announced before March 10th, for a decisions day of March 17th or before. So I’d have to hope the announcement will be within the next 3 days… :)</p>
<p>Edit: Okay I just noticed that once or twice decisions-day was announced on March 11-12, and it was the 18th that time, but I assume those days were a bit different (online decisions now, no paper rejections, and packages are mailed on the same day as online decisions.) So my reasoning still stands and 11-12 is this week anyway.</p>
<p>Grin. Yes and No. I don’t think that any school’s varies significantly from that. MIT is better than many. Loans are not considered part of the the package at MIT. 73% of MIT students receive scholarships. But the basic concept is similar. MIT is part of the 538 Presidents Group, which along with some 35 other schools, uses a common criteria for calculating need (the 538 Consensus Methodolgy). See [MIT</a> - Student Financial Services](<a href=“MIT Student Financial Services”>MIT Student Financial Services).</p>
<p>Most of the common features of schools that you discuss are necessary. People’s financial circumstances change. It is only reasonable to reapply yearly. There are also people who may not need aid one year, but will certainly need it other years. There are quite a few schools that use a vaguely sleazy bait & switch approach to aid, where the freshman aid pool is larger than those for upper classes, so people accept an offer based on a very appealing 1st year package only to find that future years are much less generous. MIT uses an identical methodology for 4 years and guarantees to meet need for 4 years.</p>
<p>As to whether MIT, or any school’s definition of a reasonable family financial contribution matches your definition of reasonable, that is a very separate question. Ideologically, MIT takes the position that nobody should have to turn down an offer of admission because they cannot afford to take up the offer. Indeed I know of one applicant who was accepted last year, whose total family income for calendar 2009 was five US dollars. Such a student simply could not afford to go to most US institutions, but MIT guarantees to meet his need, which in that particular case means everything down to paper and pens.</p>
<p>Should MIT make you an offer that you think that you cannot afford to take up, then do absolutely discuss that with Student Financial Services. Sometimes, mistakes are made, but not often.</p>