<p>we have a house in iran, thats it..probably not more than 200k..but does that even matter?</p>
<p>Yes, it does because any home that is not your primary home (your house in Iran) is an asset and the value of the asset will be taken into consideration when determining your EFC. Parental assets include equity in a second home, stocks, bonds, college savings plans, businesses and farms. Students’ personal savings, businesses, stocks and bonds are also considered. While monies placed in a 401K are are added back during the year that the contribution is made, monies already in the 401k are exempt.</p>
<p>bump.................</p>
<p>Since you really don't know what your EFC is going to be because you must add in all of your assets, unless your parents are ok with whatever package you are given, I do not think that you should apply ED. While yes, you can back out if Columbia does not give you enough money, but because they share their list with the rest of the ivies, you will most likely knock penn off your list too.</p>
<p>Re: california schools. Since you would be out of state at the CA public schools, it is high unlikely that you would get the 40k in FA that it would cost you to attend as an OOS student.</p>
<p>this instate- oos business is really dumb..if i lived in ca i would only have to pay 7,000 a year. My dad said when he went to school though..he only had to pay oos tuition for one year..then counted as in-state</p>
<ul>
<li>this is really discouraging to me....i feel like your saying that they won't give me anything just because i am choosing that as my top choice and applying early</li>
<li>do a lot of people turn down ivy-league admission because of the cost?</li>
</ul>
<p>
[quote]
My dad said when he went to school though..he only had to pay oos tuition for one year..then counted as in-state
[/quote]
</p>
<p>The rules have changed. While some states may be granted in-state residency after you have lived and worked in the state for a year, many will not grant you residency soley for the purpose of attending college. As long as you are a dependent student, your residency is where your parents live.</p>
<p>you will remain a dependent student for FA purposes until one of the following happens:</p>
<p>you turn 24
you complete your first masters
you have a child fro whom you provide more than 50% of its support
you get married
you become a veteran
you become a ward of the court before you turn 18</p>
<p>
[quote]
i feel like your saying that they won't give me anything just because i am choosing that as my top choice and applying early
[/quote]
</p>
<p>I am not saying that at all. What I am saying when you apply early decision, which is binding, you are essentially saying that in exchange for an early acceptance, if admitted you will attend regardless of what the FA offer is. However, if the aid is not sufficient for you to attend (remember it is the school, not you or your parents who decide what is a sufficent amount of FA) then you can be released.</p>
<p>However, the Joint Statement on Common Ivy Group Admissions Procedures. Specifically states:</p>
<p>
[quote]
</p>
<p>Financial aid awards for those qualifying for financial assistance will normally be announced in full detail at the same time as the admission decisions. An applicant receiving admission and an adequate financial award under the Early
Decision Plan will be required to accept that offer of admission and
withdraw all applications to other colleges or universities.</p>
<p>All the Ivy institutions will honor any required commitment to
matriculate which has been made to another college under this plan.</p>
<p>
[/quote]
</p>
<p>In short, if you are accepted to Columbia ED, and you find that the money is not right and you get released from ED, the rest of the ivies will honor Columbia's ED decision and will not accept you as they do exchange ED information.</p>
<p>
[quote]
do a lot of people turn down ivy-league admission because of the cost?
[/quote]
</p>
<p>Of course, there are families that turn down the ivies every year because of cost. I suggest you ask this same question on the parents forum (or do a search) and see just how many parents tell you that (a) they could not afford it (b) they were not willing to borrow to pay for the education (c) their students got into good schools where they got a considerable amount of merit $$</p>
<p>bump..................</p>