<p>But federal standards are used in need based aid determinations, so you can’t just ignore them. The federal gov’t determines an EFC and, without extenuating documented circumstances, aid can’t be offered if the grant aid provided by the college goes below that level. Even if Aunt Suzy gave the college more for junior, it counts toward that “above EFC” amount. It does not go toward the EFC (college would have to reduce aid). If Aunt Suzy wants to help junior pay the EFC, she needs to give it to junior or junior’s parents. They need to decide to use it toward the EFC. The EFC is up to junior and junior’s parents to pay if need-based aid can be offered.</p>
<p>So… if your EFC is 27K, that’s what you need to kick in to get federal aid no matter what school you choose. If your merit aid goes below that amount, great, but no need-based aid with it. If merit aid leaves you still owing more than 27K, then you can get need-based aid.</p>
<p>U Roc (and some other schools) claim to meet need as per their own CSS profile determination (goes into more detail than the EFC). They do not go below your EFC unless the merit aid alone does so (which for some, it does).</p>
<p>Merit aid is decided upon first. A net price calculator is just an estimate of what you will be paying - it’s not an offer or guarantee.</p>
<p>Once the Financial Aid office then sees your complete picture (including merit aid if applicable), then they try to meet your need. This is your official package - not the net price calculator, but the amounts ought to be reasonably close.</p>
<p>Not all schools do this. Most leave people gapped (owing more than their EFC with significant loans). One college my guy was accepted at wanted us to take out 33K in loans plus junior’s loans. I’m very thankful U Roc does meet need and I’m proud of my son that a decent part of his package came in merit aid. He earned that. Our financial situation dictates the other.</p>
<p>This has been bothering me-my family did not qualify for any need based aid (except some tiny loan we didn’t pursue) for my son. BUT even I knew Rochester’s policy of how they reduce the need based with the amount of the merit, and against which types of aid. It blows my mind that this was a big surprise to you. Also, looking at your income, savings, etc. that you detailed earlier in this thread I am shocked that you got as much need based aid as you did.</p>
<p>@Creekland… thanks… I thought in a previous post Tcosh said to expect it about 10 days after receiving acceptance letter. Anyone know when we can expect to hear?</p>
<p>anyone have any involvement with the GEAR program at U of R? d went thru 2 day process… haven’t heard anything. Accepted 3 weeks ago, no FA award yet as well. D guaranteed scholarship won in HS… waiting to get package.</p>
<p>If you applied for need-based aid, you will receive an email approximately 10 days after receiving your acceptance letter. The email will direct you to your University of Rochester “FAOnline” account: <a href=“(FAOnline) Student Log In”>(FAOnline) Student Log In; </p>
<p>You are always more than welcome to call our Financial Aid Office if you have any questions: 585-275-3226.</p>
<p>@TSocash
Though this may not be directly relevant to this forum, have all the interview invitations for REMS send out? Is there any chance for those who did not receive one by email yesterday?</p>
<p>@unicameral2013- I emailed my son’s financial aid counselor on Friday. She said he should hear by the end of this week. I am anxiously awaiting…he did not receive much in merit aid, and I am hoping that the need based will be enough for him to attend</p>
<p>Hi I was recently accepted (yay!) and under my myroc scholarship tab it says I got the dean’s scholarship, is that amount per year? Does anyone know?</p>
<p>So if I have not received a financial aid email, but was accepted and did receive a merit aid email, does this mean I am not eligible, or will I still get an email if I don’t qualify for financial aid?</p>
<p>Instead of speculating, I would highly recommend that you call our Financial Aid Office tomorrow between 8:30am - 5pm. We will be able to answer all of your questions without guessing!</p>
<p>I applied EN and so I’ve been expecting my letter for a few weeks now. I emailed the school, and a student representative replied to “just be patient.” I have not received anything through mail or email form the school, and I’m beginning to be concerned. Should I be? What’s the hold-up?</p>
<p>Priority Review applicants should have all received their letters by this point. They were sent around February 15th. Please call our Admissions Office tomorrow and ask to speak with an Admissions Counselor. We will be able to tell you where your letter is if you indeed are a Priority Review applicant.</p>
<p>Doing the net price calculator, I was getting:</p>
<p>5500 loans
8000 EFC
47000 Gift Aid (need-based grant)</p>
<p>I received a $15,000 scholarship. I did the net price calculator again, getting these results:</p>
<p>5500 loans
8000 EFC
47000 Gift Aid ($15,000 merit-based + $32,000 need-based)</p>
<p>I’m not trying to start some movement or something… but it seems like many scholarahips at U of R are essentially in name only. They make no difference. Zero. Yes I understand this is how it works at private schools, but I think they could at least decrease loans a little before decreasing grants dollar-for-dollar. What’s the difference between me and a person who has the same financial situation as me, but barely squeeks into U of R without scholarships?
Plus, loans are part of “need” too. I understand why colleges reduce grants if your gift aid starts reducing the EFC. But U of R skips over the loans and starts reducing grant aid right away. Kinda sucks.</p>
<p>At other school, don’t your loans get driven down to 0 first, then grant aid is reduced?</p>
<p>…However… I am thankful for my scholarship and I think it was generous anyway. Is it something that I could put on a resume or mention to employers (or do they not care)?</p>
<p>In other news… do you guys know how long it takes after the IDOC documents are “made available” to U of R to get your final financial aid package? Mine were “made available” yesterday.</p>
<p>Thanks.</p>
<p>^Also, my federal EFC was 6000. I’m guessing they either expect $2000 summer earnings, or their formula was completely different.</p>