<p>How would I go about appealing MIT financial aid. In 2010 & 2011, our family's income was 200k+, however after job loss and other issues, 2012's will be about 20k. MIT gave me 6,000 in self help but found me ineligible for financial aid. </p>
<p>Help! How do I appeal? Do I wait for other decisions to come out to negotiate?</p>
<p>So am I understanding this correctly-
You’ve been accepted to MIT, in 2011 income was $200,000, but so far for 2012 income has been less than $10K?
You’ve submitted documentation of lowered income, but they are just offering you a Stafford loan &?</p>
<p>Does your family have assets that are viewed as being available for college? Severance pay?</p>
<p>I would hope that earning 200K, they would have assets set aside that could help cover the first year. Next year the aid will change if the lower income projected comes true. OP seems to be ASSUMING the $ situation in 2012 will stay bad. WHY is that?</p>
<p>I doubt an appeal will help because it is only March. Better get your folks out job hunting!</p>
<p>His severance package actually ended in 2011 so now the 10k come from things like patents. (Divorced parents, so I file with my father). Everything else is as you stated. Thanks!</p>
<p>Write the FA office and ask for a review due to current circumstances. They may or may not adjust for your freshmen year as that would be based on 2011 income and assets.</p>
<p>When you file your appeal, you need to document the lower income for 2012 and project what the income will be for the remainder of the year. MIT doesnt care about awards from other schools</p>
<p>Since you knew your financial situation when you applied, I hope you applied to some financial safeties.</p>
<p>Thanks for the replies. Yes about financial safeties & I guess assuming because getting a new untenure professorship is still not a high paying job.</p>
<p>i8themonster - </p>
<ol>
<li><p>You say divorced parents, and you file with the father. Doesnt MIT want your mother’s income too.</p></li>
<li><p>Can you defer MIT to next year, and see if situation either improves or doesnt?</p></li>
<li><p>Can I ask what field your father is in?</p></li>
</ol>
<p>Best of luck.</p>
<p>Yes…MIT does ask for both parents FA info. </p>
<p>i8…what are your financial safeties? You’re a Calif resident. There aren’t many financial safeties there other than commuting to a CSU or CC.</p>
<p>Get all of the paperwork from both parents together and put together your case. Call finacial aid and ask for a scheduled phone session with a counselor and explain that you want to go over your case. You may want to fax the documents over to them so you are both looking at the same paperwork Explain your situation to the counselor.</p>
<p>Good luck. Sometimes, schools can help when these things happen, but sometimes not. A gap year might be the best way to go and you can apply to some financial safeties then in case things are just too shaky for you to depend on financial aid. After talking to the financial aid and admiissons directors at MIT you’ll get a better idea of the picture of what your aid prospects are. And you won’t be getting much better than that from other aid departments–MIT is pretty danged generous and top drawer.</p>
<p>Thanks for all the replies 
I shall indeed do that. </p>
<p>As for my financial safeties, I got the trustee scholarship to USC and Calgrant & scholarships cover me pretty well at all the UCs.</p>
<p>^^</p>
<p>??? how did you qualify for a Cal Grant with a 2011 income of $200k???</p>
<p>I think it had more to do with my current financial situation? I’m not sure because my dad had the greater of the salary of the two before. But my EFC ended up being around 10,000 or less.</p>