Princeton Admit - Urgent question about FA

<p>Hi everyone,</p>

<p>I was fortunate enough to be admitted as a student of Princeton's class of 2018 SCEA, but I have an urgent problem with FA.</p>

<p>My parents make quite a low income (let's just be vague and say below $40,000). But because they invested and accumulated money for my education over the years, they decided to put down an expected contribution of $20,000 (which is the maximum they can afford, on the condition that they would have little money for my younger brother). My parents weren't very familiar with the process, so they thought that the amount was only an estimate for the FA office to reference to.</p>

<p>Here is the thing, I thought that, since Princeton's average FA package for low income students (with family income below $60,000) is $51,000, I expected them to be more accomodating and not judge my FA package solely on what my parents planned to contribute. But in fact, they took the precise amount of $20,000, and offered me a package of about $36,000. I am really grateful for this aid, but it is much less than what I expected. </p>

<p>I called the office today, and they say that they will possibly re-evaluate when I send in my 2013 tax return. But I was wondering: how likely is it for them to raise the aid amount?</p>

<p>I am really attached to Princeton at this point, and don't really want to apply to other schools that offer generous FA (Harvard, Upenn, etc) But this uncertainty is really killing me - please help! </p>

<p>PS: I am an international student :)</p>

<p>You would be really foolish not to apply to comparable colleges that have similar aid in the meantime. I would be unconscionable to do that to your parents and not create options. Hurry up while you have the time because you don’t know if this will be adjusted. I presume you have also applied to your state flagship or other colleges where you will get a full ride? See the pinned posts of full rides at the top of the forum.</p>

<p>I’m sorry that I can’t help you with the rest, you will wait and get more comments. It is hard to say based on lack of information about how the money is held, what retirement and total assets they have. Is this money held in their name or yours? </p>

<p>I’m thinking you will need to read everything you can about how aid and the CSS profile works and write a letter to Princeton yourself. Saying it is your first pick, but you don’t want your parent to use their retirement money and have nothing left for your brother, etc. </p>

<p>Oh I just saw you are an international and that may change things.</p>

<p>Um…the money your parents have put aside for your education likely is having a bigger impact on the financial aid award than the answer to that ONE question. Do your parents have enough money put aside for your education that they can use THAT ONLY to pay the $20,000?</p>