I just got accepted ED1 to Vanderbilt and they are offering me a very generous amount of aid ($41k) but that still leaves almost $30k for my family to pay that we cannot afford to do. My FAFSA says that our EFC is only $15k so I’m really confused and don’t know what to do?
Did you turn in your CSS Profile? You did many difficult things to get this acceptance, so take in a big breath. Try to be graceful as you learn how Vanderbilt came to this financial figure. Call financial aid, get information, see what if anything you can do to provide them information and figures, and see what kind of response you get. Stay the course~! Congrats on your acceptance.
I did turn in my CSS Profile. I’m really concerned because my EFC on FAFSA is $15k and when I did the Vandy net price calculator it said it would cost $11k and now it seems that the price has essentially doubled and there is no way we could afford that.
Your estimated cost at universities like Vanderbilt takes in more factors than just FAFSA results as you know. In our case, someone owns % of a business and that had to be detailed in great depth on the CSS Profile but would have not been counted on the FAFSA. Please know that many families need help to come to a firm understanding of the costs at Vanderbilt. The staff is there to help you so be patient and calm. This is about exchange of information now. It may take time. You will not be the only ED person calling to address their financial aid plan. Also keep in mind that anyone who has the background to get into Vanderbilt is likely to have opportunities as an honors scholar in state flagships and in other colleges that may cost less than their Vanderbilt cost of attendance. This happens frequently…and is the norm. Good luck shaking things out.