The affordable option for my family would be around 6000$ per year; however, since I don’t want to lower my chances of acceptance in need-aware colleges, should I put my EFC at around 10.000$?
If a need-aware college were to accept me and if I were to have to pay only 10k to attend, then my family would find the money from extra loans/borrowing from relatives.
The reason why I’m hesitant to put it as 10k is because I am also applying to need-blind colleges/colleges that meet a LOT of aid. Is there a chance they would lower my EFC from 10k to 6k?
NEED BLIND means that the admissions department does NOT know your financial need when they are considering your application for admission. The admissions department does NOT see your financial aid application forms.
This has NOTHING to do with financial aid awarding at all. NEED BLIND is an admissions term.
If you are asking how to answer the question on the Profile about how much your parents can pay? Well…that’s another question…and really that answer has NOTHING to do with how,the colleges compute your need based financial aid award. Most people put a number that is a realistic amount…and some put something close to their FAFSA EFC. This answer won’t affect the calculation the schools make for what the expect your family to pay. You could put $0…but that doesn’t mean the college will only from your family.
It sounds like you are applying to some schools that guarantee to meet full need for all. If that is the case, those schools will compute your family contribution based on the info you provide on the Profile…since most use that (exceptions…Princeton has its own form, and U of Chicago has a short form as well. Profile not required at either).
@TomSrOfBoston I’m taking this as it doesn’t matter what you put there; if a need-aware college sees my family finances, they will not admit me. Then how do I make it known to them that my parents can take extra loans and borrow from relatives/friends?
Also, some of my colleges require the financial aid application to show that 30.000$ is available for my first year. Should I not bother filling out the fin aid application for them, since it is obvious I can not gather all that money for a year? Furthermore, why do they have this requirement if they’re going to offer you money in order to be able to attend?
The colleges don’t care about this at all. They calculate a family contribution and it’s up to your family to figure out how it will be paid.
Need aware schools DO admit students with higher need…but they are aware of the college financial obligations as they admit students.
Are you an international student? I’ve NEVER heard of this requirement of having to demonstrate this in order to FILE a financial aid form. Could you please tell us where on the financial aid application this request is being made? It’s certainly not on a FAFSA. And I don’t believe it’s on a Profile either.
I read some of your other threads…and it seems you live in Europe, and also need to report a TOEFL score. Guessing this means you are an international student.
Honestly…this is an important detail that should have been in your original post here.
As an international, there are only FIVE colleges that are both need blind for admissions AND guarantee to meet full need. They are very competitive for admissions likely admitting 5% or so of international applicants.
As an international student, you will need a visa to study here. You will have to demonstrate that you have funds to pay for a full year of your college costs in order to get a visa. This can include already offered and accepted financial aid from your college as well as already approved loans (documentation will be needed). Just saying family members will loan you the money won’t cut it. You need to HAVE that money when you apply for your visa.
To answer your question, Goucher College has that requirement. From their website: “The ISFAA (International Student Financial Aid Application) must show at least $30,000 in expected support for educational expenses.”
When you say “You will have to demonstrate that you have funds to pay for a full year of your college costs in order to get a visa”, do you mean I need to demonstrate I can pay the amount that me and the college have agreed upon, or the $30,000 value?
I am confused as to why my ISFAA would need to show I have at least $30k if the financial aid contributes to the amount I need to show in my visa application. This value would be incredibly hard for me to meet if financial aid is not included.
There is no way for me to get the loans before even finding out I have been accepted. I don’t think I have any other ways of demonstrating that I am able to pay through loans except for saying that I do.
You need to contact Goucher. Ask someone there about this requirement. I’m just giving you MY interpretation of what they wrote.
International students sometimes DO have difficulty finding affordable colleges.
Some colleges guarantee to meet full need for all....including international students. Yes, some are need aware, but they do meet full need for ACCEPTED students.
Some colleges give limited financial aid to international students.
Some colleges don’t give a dime of financial aid to international students.
How much aid do you need annually to attend college in this country? How much can your parents contribute?
Do you have any affordable options on your list in your country?
Are you a competitive applicant for the colleges that guarantee to meet full need for all acceoted international students here?
Some colleges do require certification you will have the funds, so they know it’s affordable. Financial aid may lower your bill, but not enough to cover all costs. In fact, Goucher is not a Meet Full Need college. So the amount you receive, if any, is likely to fall short.
Oddly, you’re admitting you don’t have the funds.
When you’re dependent on a large amout of aid, you need to carefully check what your college targets do say about aid, in general and for internationals. Because if you cannot meet their afordability standards, (in this case, if you cannot show 30k,) I doubt they will go ahead and admit. Goucher is need aware.