Renegotiating financial aid

<p>I just saw my preliminary FA package and there's no way I can attend if it's an indicator of the final package. Is it worth calling to renegotiate? From what I've heard they don't really give a lot more than the initial offer.</p>

<p>My D received her financial aid package this weekend, $10,100 grant + $5,500 loan, admitted to Tepper. I think it was generous for CMU, but that still leaves us with a $52,000 bill per year. Ridicules, I don’t think an undergraduate degree is worth $200,000+.</p>

<p>We sent CMU her other offers from various schools: Dayton U $25,000, U of Rochester $20,000, St. John’s $38,000 Full T, St.Louis $20,000, Hofstra $25,000, PITT $26,000 Full T, Marquette $25,000, American & GW $20,000. </p>

<p>Full tuition from PITT vs. $200,000 … Looks like she’ll be going to PITT. Good news for you folks on the waitlist … That’s one spot opening up for the Tepper school of business, hang in there!</p>

<p>I wish that one spot opened up for every person who declined his/her offer of admission -.-</p>

<p>Sent from my XT897 using CC</p>

<p>@zvidacs - did CMU express a willingness to reconsider their package based on other schools’ offers? Also … I wondered if CMU’s EFC figure was in line with the one assigned to you by other schools? Lower middle class here and scared to death to get package. Thanks for any info you’re willing to share.</p>

<p>@zvidacs
did you use their fa estimate calculator?</p>

<p>They do match offers…but the packages have to be from schools that CMU considers “peers” and hey have a fairly high standard of who fits that bill…schools like RPI, Northwestern, MIT, Georgia Tech, Cornell. If she does end up at PITT (which is an amazing school in its own right!) I think they do alot of class/program exchange with CMU.</p>

<p>Just as a personal experience, my actual financial aid package was more than the estimate they gave me in February by about a few thousand. I applied ED, though.
Take that & make with it what you want.</p>

<p>Yes, we did use the calculator - our EFC was about $31,000.</p>

<p>Anyone have any idea on how to appeal for more fa? I only have to pay half of what I would pay for CMU if I attend USC, but I’d really love to go to CMU. Any ideas??</p>

<p>I don’t think CMU considers USC a peer school (at least I wouldn’t) but you could bring it up when you speak to someone from the admissions office/send them a copy of USC’s offer. I would think that a good part of USC’s offer is merit based and I don’t think CMU is going to match it.</p>

<p>They sent a form with my fa that said they would reconsider if I have an offer from a private school, not public.</p>

<p>FYI the form they send with your offer also states they will only reconsider if you need $10,000 additional or less. It also has categories for grant, work study and loans so they could “match” the aid from another private school by giving you loans and/or work study not just grant aid.</p>

<p>Well the offer I got from USC was mainly need based, and also from RPI as well. I don’t understand though, why RPI is considered a peer school while USC is not? Cmu Is ranked 23 while USC is ranked 24 and is also a private school. Anyhow, thank you for the info regarding the form that comes with the official financial aid package!</p>

<p>They would likely consider USC as a peer school. I even know kids and parents who appealed with non peer schools and public schools with offers and some of them got a little more. Not much but a bit. You give them what you have, and they take it as they please.</p>

<p>My actual amount of aid is several thousand $$s less than the early estimate, or at least how I interpreted the early estimate because the final number is about the same but the estimate said that included $0 in loans and the actual package includes the $5500 in loans.</p>

<p>It is extremely unlikely CMU will increase aid by more than a few thousand, unless you are a top, highly attractive applicant and are weighing among other top schools (ivies and peer)</p>

<p>USC probably is a peer school, they just don’t have many cross-admits they’re fighting for, I imagine.</p>

<p>I was able to get CMU to match my aid offer from RPI, and it decreased my loans by several thousand a year. Definitely worth trying.</p>

<p>Our experience last year was similar - CMU’s FA was considerably lower than all other schools. They use their own “formula” to calculate what you are expected to pay - and use a LOT of loan $$$ as a form of financial “assistance.” We asked for a re-assessment based on some packages from other private schools - in the end it didn’t really come close. My DS was devastated as this was his top choice, but he did get over it and now loves where he’s at (and so do we…it’s nearly $30,000/year cheaper!!)
In the end, it can’t hurt to ask - just be sure you have another school waiting in the wings that your student loves.</p>

<p>One last financial aid question… It’s irrelevant to negotiating financial aid, but does anyone know if Carnegie Mellon decreases university grants and other financial aid type money over the years if our income stays at a similar level?</p>

<p>I would definitely contact the school as you would not want to just take anyone’s advise for something like this. If it could make a difference to you between attending and not attending one year, contact the school and get it in writing or e mail and name of person giving you the information.</p>

<p>Generally speaking, university grants are not something that vacillates from one year to the next.</p>

<p>Once again, seeing in this thread that CMU is not particularly generous in financial aid/merit. Getting a good/great financial package from CMU is the exception not the rule.
You really have to have something they want/esteem and/or need a lot of financial need.</p>

<p>If you are really wanting to attend CMU apply ED, especially if you need a lot of financial aid. This strategy seems to have worked for others here on CC and students at CMU now.</p>