Hello. I have a regarding this section of Upenn’s form: “From the sources listed below, provide the amount from each that will be available for your education expenses in the coming year. (Do not include anticipated financial aid)”. Specifically the first option “From parent(s) income/assets”, what is an appropriate way to list it. Do I put an amount that would be lowest for me? An amount that is reasonable? I am not certain.
Additionally, (this is more in general regarding aid though), my family makes around 190k a year. However, that is with my sister in college and a younger one about to be in 2 years. The real question is, my father is faced with a life threatening illness and has begun treatment this year, and thus will not be working. However, his income will still be counted for 2015. Is there any way to indicate this to colleges and in what manner should I do so? It will cut our income in half.
Thank you all in advance.
Penn uses the Profile. There is a section to explain other circumstances on that form. Fill it out.
You can also ask for a special circumstances consideration from Penn. you need to contact the school to ask them how this is done. They will tell you what you need…and the process. You will have to provide documentation of your dad’s job loss, and of the reason he is not working. If your dad is receiving sick pay, disability or unemployment, these all still be counted as income, and you will need to provide that info as well. In addition, if your medical expenses are not covered by insurance, you will need documentation of that as well.
Find out what Penn requires now…and start gathering that information.
Special circumstances considerations are handled on a case by case basis. Some schools don’t do them at all.
What are your parents saying about the costs of attending Penn given the financial changes they are having? Have you considered taking a gap year until these finances get sorted out? Will Penn allow you to defer enrollment for a year, given the circumstances, should you get accepted?
@thumper1 I already explained it on the CSS Profile, so that is acceptable correct?
My father is self-employed, so I’m not certain how that would be taken into consideration.
My parents have a bit saved up, but without enough financial aid, I’ll probably head for a good safety school I got into. Which is not at all a problem.