<p>So here's the speal. I want to transfer out of University of North Dakota. I have good reasons, but thats not why I'm posting this.</p>
<p>Currently my family is making an average income for middle class (below 60,000) and my EFC is pretty low. I have exceptional grades, but thats not the point of the post. With these statistics, I qualify for several financial aid incentives based on income for specific colleges. FinAid</a> | Answering Your Questions | No Loans for Low Income Students</p>
<p>Now, if I was sure that my parents' income would stay the same, I would apply to cornell, or LACs that offer mostly grant aid for my economic situation. but my father started a business last year and he is supposedly going to start pulling in a profit very soon. He seems very optimistic and has contacted very large companies that might want to buy his product in mass quantities. If everything goes right, my family could be rich, or the big loan we took out could break our family (actually, mostly just my parents since im economically stable) if the business fails.</p>
<p>But my parents will not pay for my school. (but i cant say they dont help me with school, they give me $750 a year for school)</p>
<p>So what should I do? What if my parents become rich or simply make $40,000 more a year and I dont qualify for these aid packages anymore and I'm left to pay $50,000 a year by myself?</p>
<p>I know schools dont offer merit aid for transfer students.....but what should i do? should i risk it and transfer? or just accept my fate and stay?</p>
<p>thank you!!</p>
<p>P.S. Im only apply to these top tier schools because they offer great aid for my situation, but maybe anyone knows of less prestigious schools that offer nice aid? (less than 10,000/year)</p>
<p>40k+ to a 60k salary will raise your efc only slightly. it won’t leave you with the bill of 50K plus per year.</p>
<p>If you can get into prestigious or top tier schools, frankly there are going to be some schools that would through merit money at you, and this won’t be dependant on your parents income. </p>
<p>don’t stress out about, just apply and see what options come when the time to decide is before you. you should know if your parents make more money while you wait or dont.</p>
<p>You were talking about merit aid? I didnt even know transfers got merit aid! So, i know this is a very odd question, but what kind of schools do you suggest I apply to if im seeking merit aid?</p>
<p>Have you checked if the no loan policies apply to transfer students? Some schools that “meets full need” and are “need blind” for domestic freshmen don’t have those policies for transfers. </p>
<p>If this is your first year at your current school then you could wait and apply next year once you know what will happen. If this is your second year at your current school you could take a leave of absence and see what will happen. </p>
<p>There is not a lot of merit aid for transfers. And from what the OP says, it sounds like the parent’s can go from being low income to full pay overnight. If this really happens, he indeed has major problems if he has need based aid. His parents or someone would have to co sign for huge loans if he even wanted to take them.</p>
<p>IMO, the OP really needs to assess the chances of this happening. Many people with new businesses are kidding themselves that riches are right around the corner, but for others it really does happen. If his father is in active negotiations with companies and the OP believes wealth is on the horizon, he’d be best off choosing a school where the resulting loans would be manageable.</p>