<p>I'm writing this message because I'm deeply concerned about whether or not I will be able to go to the best possible school for me. I'm not going to list my credentials or anything but I'm an excellent student, possible athlete, etc. I'm considering some top notch schools (Cornell, Brown, Columbia) and other ranged schools (Colgate and ) My point is that at the current moment the family income is less than $20,000. I have two older siblings, one who just graduated from college and another still in college. For a number of years we've been having great financial difficulty with my dad's job. So obviously, at most of the schools I've mentioned (if I was admitted) the financial aid would cover almost all of school expenses. But the dilemma is that my father will be getting a job the following year, and my mom fears that the financial aid will be taken away just on the basis of that one first year of my dad's new job. This is affecting a lot of things. Is it potentially harmful to do ED with any of the ivies I mentioned above? My mother vehemently denied my request to do ED to Cornell ( I even showed her statistics and whatnot) and she insisted that if we're in a binding contract, and the financial aid isn't sufficient, then we're screwed. I'm so upset at the moment. I feel as if my dreams of going to an ivy, or any school that I like, have been crushed because of our financial dilemma. (Aren't colleges supposed to help you pay for tuition??? it doesn't seem that way) Please, will someone give me advice, to possibly assuage my mother.......or possibly give me some info that will help the situation.......thank you so much! (i know my writing is a bit long-winded)</p>
<p>Actually NO colleges are not supposed to help you pay for tuition…UNLESS you have demonstrated need. At the current time, your family DOES have financial need with a $20,000 a year income. </p>
<p>Your financial aid will be adjusted based on your family’s income in subsequent years. And yes…if sufficient income is there, some of your need based aid would likely be reduced.</p>
<p>BUT I ask…why can’t folks CELEBRATE getting jobs and having added income instead of viewing it as a financial liability? Your dad and mom should be THRILLED if they have sufficient income to reduce your need based aid. Perhaps some of that added income could be used to offset your increased college costs. </p>
<p>I’m sorry…but I’m going to side with your mom on this one. If your family is so concerned about financial aid, you really should be able to apply to multiple schools AND get multiple acceptances AND be able to compare multiple financial aid offers. If you apply to one school ED, you are bound by that school’s offer…unless you demonstrate that they have not met your need per THEIR calculations. It sounds like you have a number of great schools on your list. Why not apply to all of them in the RD round and be in the position to compare financial aid offers? If Cornell comes in with a favorable financial aid offer to you…you’re good to go. If not, one of the others just might. I don’t think you should give up your option of comparing financial aid offers which CAN and often DO vary from school to school.</p>
<p>Oh and just for the record…your need based aid will be adjusted at ALL schools annually, not just Cornell.</p>
<p>I don’t see how you could possibly apply ED if finances are an issue.
Remember there are many high caliber schools in addition to the ones you mentioned. You need to apply to several good schools and see what your options are when the admission letters and financial aid come back. With your parents income and if you are a good student you may be able to get very good financial aid, but don’t limit yourself to three schools.</p>
<p>thank you so much for both of your answers… I mean, I guess I was just so hyped up about ED because I wanted a greater chance to get accepted, and I was afraid of RD . . . but thanks for putting it in a different light for me thumper1 and scoutmom9</p>
<p>Don’t forget schools with merit aid – especially if you have high SAT/ACT and PSATs. There are more than one thread attached here on the subject.</p>
<p>Also look into athletic scholarships – if you are recruited.</p>
<p>Have you looked into Questbridge? My daughter applied (but ultimately was not selected) through Questbridge and it’s for students just in your situation. None of the counselors at our public urban high school knew about this program (but I have told them now!). </p>
<p>Another thing that helped was getting application fee waivers from our counselor’s office so she didn’t have to pay application fees. Again, it was something we had to ask about since most students from her high school in the midwest don’t apply out of state or use the common app.</p>
<p>She actually did end up applying ED to Brown because we knew if she was admitted their financial aid policy would benefit her. She was not admitted to Brown, but IS going to Wellesley, and because of our income/assets (or lack thereof), has incredible financial aid - no loans, just work study. I work at a university and even with my half off tuition dependent waiver we would have paid more for her to go to the public local university.</p>
<p>I am working two jobs but our family income is under $60,000. And yes, if my spouse finally is employed and has income and we move into a higher income bracket, we will be happy to use that income toward her tuition. But the schools that meet demonstrated financial aid should definitely be researched. </p>
<p>Basically - research your options and don’t assume that private, expensive schools are out of reach. In our case it was a much better option than the two state public schools that she was accepted to. And at many schools Early Decision is not binding if financial considerations make it impossible to attend.</p>
<p>Actually, the job of paying for tuition first falls to the parents. It’s only at wealthy and generous schools that the school can help when parents can’t pay.</p>