<p>Hi, I just got my financial aid award from Wake Forest University. My family makes about $52,000 and I have a brother in college right now as well. This is the package for the whole year:</p>
<p>Merit Scholarship -- $10,000.00
Wake Forest College Scholarship (need-based) -- $8,450.00
Wake Forest Auxiliary Scholarship (need-based) -- $2,300.00
Pell Grant -- $1,300.00
Federal SEOG -- $2,000.00
Federal Work-Study -- $2,000.00
Federal Perkins Loan -- $4,000.00
Sub. Stafford Loan -- $3,500.00</p>
<p>TOTAL: $33,550.00
COA = 52,082.00</p>
<p>Now, I understand I expected to contribute about $2,000 in summer earnings, but even with that subtracted my parents are expected to be able to give $16,532.00. We own a small business and we really can't afford that much a year, especially with this economy. My family is trying to stay afloat. Should I appeal? I had a phone call from WFU congratulating me about the Merit-based scholarship, and they said my package is "very favorable", this doesn't seem favorable to me. We have no savings, stocks, etc. The only investment is our business and our house. Any advice? How should I appeal?</p>
<p>sure, try to appeal… However the chances that they are going to suddenly come up with another 15K in free money is probably not going to happen.</p>
<p>You can also borrow 2K in unsubsidized loans.</p>
<p>Your Fafsa EFC made you eligible for Pell and other federal grants. However the info on the Profile must been interpreted by the school to say you can afford more (either out of savings by loans). </p>
<p>Did you also apply to a Fafsa only school that cost half of Wake forest because you will have a better chance at being able to meet those costs with the all the Federal aid and a much smaller parental contribution</p>
<p>Yes, I have a near-full ride at FSU Honors (only the 2k EFC is not included). So that is my backup. However, although it is the best “fit”, it is just the best I can get that is cheap. I am not trying to sound like a brat, and I plan and expect to take out some loans for these privates, but I really can’t see how they changed our EFC so much.</p>
<p>the EFC didn’t take house equity and other things that the profile does into account. NO where is it written that all you will pay is your EFC, esp at a school that requires profile</p>
<p>Rockerguyas, talk to the financial aid office. You will be one of many. However, your parents income is in a bracket where it should be clear that $16K is going to be a struggle for them to pay. </p>
<p>As Sueinphilly says, however, it is unlikely that a school is going to come up with another $15-16K in grants. Her idea of taking an additional $2K in loans is a good one, and you should think about starting to work parttime now and planning a summer of double shifts. Maybe you can make $5K or so. That brings your parents costs down somewhat. Also they will be able to get a tax credit for your college costs, so there’s $2500 right there. You should get a campus job that can also add another $1000 or so during the term. You parents will save some money with your being gone which will translate to another $1000 or so for the year. It is going to be tight, however, and FSU might be a better choice.</p>
<p>Thanks sue and cpt. Yes, I know that they won’t come up with another 16k in grants, nor do I expect them to. My parents told me that they might be able to push around 8-11k a year, but that is the absolute maximum. Yeah…I realize all the extra things the Profile takes into account, but the thing is, I do not think we have any equity. I live in an area where house values dropped dramatically, and now we owe more in our mortgage than what our house is worth. </p>
<p>I was awarded a merit-based scholarship, and based of their Merit-based scholarship office, less than 3% of accepted students are offered a merit-based scholarship. I am assuming that this indicates I might be a “desirable” student for them, so do you think I can possibly haggle with them for more money this way? </p>
<p>My dad has been hospitalized in January, and now the doctor told him to work less hours, which decreases our income further. Do you think I should include this in the appeal letter? I have papers that prove his hospitalization and doctor’s recommendation to work less.</p>
<p>Also, I know this isn’t the best method, if a peer school (University of Richmond) offers me more money, is there way I can negotiate that way? Wake is honestly my top choice, but it would be a lot cheaper to go to UR or FSU…</p>
<p>go ahead and contact them. Give them all the information you have regarding your dad’s health, finances. Nothing ventured, nothing gained. Just don’t take it personally if Wake still comes up short.</p>
<p>You can always try to negotiate. Sometimes it does pan out, sometimes not. My son did ask for more and did get it. Not a whole lot, but he did get it. But there is no guarantee. I urge you to talk to Wake and tell them your situation.</p>
<p>yup, Profile schools can calculate your EFC any way they see fit. it doesn’t matter what your FAFSA EFC is. My parents were asked to contribute a little less than 1/3 of the GROSS income as well ($11k more than our FAFSA EFC), and many people have been telling me this is the norm. Yes, it sucks. A CC aid officer told me EVERYBODY is guaranteed 5,500 in unsubsidized loans. You can try to start there. After the loans, your parents will be left with 11K. Of course, if you’re wondering if you should appeal, it means your probably should…it’s better the appeal and be rejected than to never have tried, IMO.</p>
<p>You might also want to take another look at U Richmond. Great school–it would be even better with a nice scholarship!</p>
<p>EFC is expected to come from past savings, current income, and future-payback parent loans. Many families can’t put it all together. You’re not alone, but that doesn’t make it hurt any less. :(</p>
<p>Thanks guys! I did an appeal letter…and my admissions officer said that she will put in a “good word for me” as well. She said that Wake is a small school and really wants me to come. I’m crossing my fingers for the best, but if does not work it…oh well, wasn’t meant to be.</p>
<p>It’s just hard to base EFC from past “savings” when some people, like me, have lived below the poverty line for over half their life. How can they expect us to save when were that poor!</p>
<p>I hope you will get some help. I am very impressed by the sacrifice your parents are willing to make to help you out. The amount they can scrape together annually on their earnings is wonderful. Best of luck to you - and let us know how it turns out.</p>
<p>Thank you kelsmom. I am fortunate enough to have parents who taught me the importance of education, even though they had little formal experience of it themselves. They also have worked their whole lives to give me a better future than themselves (and most of my family), and I really do know they are going to try their best to give me the best education that I can possibly receive. I know that I am the lucky few in my family that have parents who raised me to believe that anything is possible, and education can be the key to it.</p>
<p>Hopefully it will work out at Wake or whichever institution I end up at, but I know whatever happens, I have to thank them a lot!</p>
<p>You can try, but an appeal to a school that had my family paying half their income (with 8 other people to support) monthly, basically said we won’t do anything without a drastic circumstance change. Some schools will change it, but if they had the money to or wanted to give you that much more they would have already. They are not going to pull 60K out of nowhere and give it to you.
That being said if your parents can manage 11K, and you work for the rest, and maybe take out a few thousand in loans a year, that’s a more than managable price for you to have to pay.</p>
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<p>Wouldn’t the student’s income hurt the next year’s grant.</p>
<p>Yeah, and I already “work” – not on official pay roll – at my dad’s business. So a double shift in the summer would be impossible, I already will be working full time our business…</p>
<p>I guess I should update everyone with the good news!</p>
<p>I appealed…to the financial aid office, and they did accept my appeal. However, even with with the protection of my assets, they said that I didn’t qualify for extra need-based aid. That is because the Merit-Scholarship office granted me $8000.00 more a year, or $32,000.00 over four years!</p>
<p>I also got a few private/local scholarships so my total Financial Aid package is now $46,550.00! I am going to Wake. Thanks all of you guys for your help – nothing ventured, nothing gained!</p>
<p>Excellent, congratulations! But there’s a catch: In 20 years or so, you must contribute to the alumni fund. :)</p>
<p>Haha, well I think it would be only right to give some back to the school, considering they are giving so much to me right now. I am planning to apply for another merit-based scholarship that is reserved for upperclassmen when I get there. Hopefully that will cover the rest of COA, so I can dock down a few of those loans. I am also looking to apply for an RA position, that would save almost 10 grand a year too.</p>
<p>Personally, I think that people do not try to make private schools affordable. Wake was going to be financially impossible for me, but I believed in the old adage, “If there is a will, there is a way”, and found a way to get there.</p>
<p>I just wanted to tell everyone that appeals can work…even in this economy. You just have to be persistent, persuasive, and mostly importantly find a group of people within the university to advocate for you.</p>