So I got admitted to Hopkins and my local state school (Pitt). I would really prefer Hopkins to Pitt, but at Hopkins we are full-pay and that would be very tough, probably impossible barring major debt. Has anyone had any luck in asking for money from Hopkins or are there any “tricks to the trade” to make Hopkins more affordable?
DD from California was accepted but without one penny of FA. We were aware of that and asked if there were other funds available. Nope, they didn’t even want to try to look.
Did you apply for financial aid at Hopkins? Have you run the NPC for Hopkins? What is your FAFSA EFC? You don’t just get money from Hopkins. There has to be some basis there. You clearly did not qualify for any merit money, which is limited there. So if it’s fin aid, you have to have the numbers to qualify…
Our situation is a bit different. Main source of income is highly variable, and so while we did not qualify for aid based on last year’s numbers, but this is the exception and not the rule. Savings does not meet the full-pay cost for even one year, and while we could probably do one year full-pay there are no guarantees for future years.
Eastcoaster…if you are full pay at Hopkins, then your parent I ncome for 2014 would have needed to be in the $200,000 range.
If that isn’t typical earnings, it would have been possible to live on their lesser earnings, and bank at least some of the difference for college costs.
Your need based aid at Hopkins will be recalculated annually. So…if the 2015 income is substantially lower, then your aid for the following school year would likely be higher.
Assets also contribute to the family contribution…so that would need to be factored in as well.
Pitt is a great school, and likely much more affordable.
You can talk to the financial aid director and find out what you need to have a review done. Yes, change of circumstances can result in a personal judgment and revision of financial aid. In cases where a crisis occurs-wage earner loses job, gets ill, dies, adjustments are often made, again depending upon the situation Some recognition of the halt of income stream due to a catastrophe is taken into account However, in your family situation, with a business with variable earnings, it’s expected to have down years as well as up, and the school is likely to say that the down turn will be taken into account next year. It is a year by year appraisal and award, with the information of the prior year being used each year. But, by all means, give it a try and see what the school says. It’s their call.
Here are the two things that have kept me so focused on trying to make Hopkins work some way: it seems like the environment is more conducive to outside-the-classroom learning experiences and the mobility of the degree (specifically the weight it could be given in law school admissions). I think that I could do very well academically at Pitt, but I don’t know if doing well at Pitt is the same as doing well at Hopkins and possibly having some meaningful research to add to my portfolio. I really liked the focus on research at Hopkins, and I know that having some research under my belt could be a great asset on law school applications. Is a degree from Hopkins worth me working every possible angle to try to make this work without accruing 100k+ in debt?
It is not up to me, you or anyone else to make the determination as to whether Hopkins or any school will give you more money. Absolutely, discuss your situation with the school. I was just pointing out how it is possible the school is going to look at this. There are times when something unexpected happens, and income flow stops or is drastically reduced. In some cases, a school has provisions for that sort of thing and the fin aid officers can use professional judgement. They can even get federal money, in some situations, such as displaced wage earner status or loss of home, etc, etc. But, in my experience when in a job where income fluctuations are to be expected, fin aid will fluctuate with that schedule, just a year behind. Hopkins might not look at it that way.
As to whether Hopkins is worth the effort, that is up to you. To some, it’s worth the full pay, borrowing even. That’s an opinion. Yes, it’s worth giving it a go.
I appreciate your input, @cptofthehouse I am really trying my hardest, but I know I cannot go into huge debt for undergrad at Hopkins. I was curious about a post you made on some other thread about making $60k work with a fair savings, and I was wondering if you were able to expound on that any more than you had in the original post?
I don’t know to which post you are referring.
I know how you feel. However, also bear in mind that we’ve just finished the first quarter of 2015 , and there really is no telling what your parents’ income will be for this year. There has to be some strong indicator that the income is not going to be close to what it was last year. Even those who lose a job often have to be out of work for several months before a dislocated worker status is granted. It’s not like you get that designation immediately. And there are those who have gotten pink slips, imminent notice of dismissal, but until it happens, it isn’t acted upon by the schools most of the time.
Pitt is a fine school. Unless your parents can “gift” Hopkins to you, I don’t see how you will be able to afford it. Give it a go, but I think you will be a panther next year.
There are plenty of students who attend law school after attending Pitt. Do your very best there…and get a top LSAT score. Those will be very important.
Plus…there is no question you will have debt if you go to law school. There is precious little financial aid beyond loans for the vast majority of law school students. So…you want to keep your undergrad dept to a bare minimum.
With the market for lawyers how it is, though, I am just wondering what my chances are of attending a 1st tier law school from Pitt vs. Hopkins. I know the financial aid as it stands at this moment is unworkable, but how much undergrad debt (if any) is a Hopkins degree worth over one from Pitt? Basically what I am asking is how much more valuable a Hopkins degree is in the eyes of a T1 law school admissions officer?