I posted a thread a while back about not physically being able to afford Penn after being accepted ED this year and being shown my package.
After an appeal, it still isn’t anywhere near where we wanted it to be, and there’s a good chance the aid will decrease considerably during the 4-year duration I would be there because we are slowly paying off mortgages on a second property.
Financial aid doesn’t open until Jan. 3 (also, I didn’t get my package re-evaluation mailed to me until after they closed) but all my other RD apps are due today (Jan 1) and I really need some help.
I can’t call FA before I submit other RD apps, but would submitting RD apps be violating the terms of agreement?
Also, if Penn does release me from the ED binding decision, will there be any negative repercussions? There are horror stories of colleges sharing insider info and getting students “blacklisted” from other institutions because they withdrew from an ED agreement.
I’m not sure what to do. Do I submit RD apps and then call Penn as soon as they open on January 3rd? Is it safe?
Also, yes I am aware a lot of people will tell me that ED is not for students who are seeking financial aid, but I went to the FA office in person during a fly in program and the officer assured me that the package would be very close to what my FASFA and the net price calculator stated (which we are able to afford).
However when I called about my re-eval a different officer told me he wished the NPC didn’t exist which was a huge bummer right after someone else told me I would be fine ED.
Also my counselor reassured me that the binding agreement can be released based on financial reasons and considering the person who interviewed filed a report to admissions on behalf and I expressed worry with my package to the office during both my initial offer and re-evaluation I assume that they’ll be able to determine money was the issue from the start…
I just want to make sure its ok to submit RD and by withdrawing from ED (which, as of now, I am under the impression IS possible) there won’t be any unforseen negatives
After scrolling through several CC threads it appears that LACs and the other Ivy Institutions DO share lists, but the question is will other institutions only reject me if say I applied ED to multiple schools, or will they reject me RD as well even if I am released from an ED agreement for financial reasons?
Put in your RD applications. It sounds like your family owns multiple properties – did the net price calculator not ask about them? It may not have, some don’t. If your aid is truly not workable, you can decline the ED offer. If the NPC looked really different from your offer and doesn’t ask detailed questions, you would have a legit reason to withdraw.
I’d assume you may have another big problem. All the other “meets need” schools are going to do the same thing – count properties as assets that could be sold or borrowed against to pay for college. If you can’t do it for Penn, you can’t donit for them, either. What is your affordable option going to be?
It would be a problem to turn down Penn, then manage to come up with the same cost of attendance somehow for some other school.
Don’t worry about the other schools, except to get RD apps submitted in time (ideally to affordable options).
" If the NPC looked really different from your offer and doesn’t ask detailed questions, you would have a legit reason to withdraw."
I guess not, but the first package was 3 times the NPC and the second was just slightly under that.
My sister attended a separate institution for free with the same financial information to Penn, so we are under the impression that perhaps that institution, a state U, and some others do not count assets or at least are a bit more generous with financial aid.
Are you sure that it’s ok to submit RD apps? There’s no fear of being blacklisted?
Some of my other options are related to Penn—like schools apart of the quaker consortium and some other Ivy institutions—and Im just not sure if this whole information sharing thing and blacklisting ED students who violated terms of agreement is true.
You really, really need to submit this apps. If you have not got a sufficient FA package, you need to keep all the balls in play. You will be well and truly stuck if you don’t, and truly can’t afford Penn. It isn’t the ED acceptance from Penn that triggers having to withdraw other apps – it is your acceptance of the Penn offer. You are perfectly within your right to submit RD apps if you are still working with Penn on the FA package. No school will penalize you for that.
There was a kid out here a couple years ago who didn’t submit his RD apps, then was really in a bind when his ED school FA was insufficient. He ended up at his state flagship.
What does Penn say about the NPC gap? What is your truly affordable option (your own state flagship)? Can you say what your home state is and where your sister attended?
Also – I’d maybe go to the head of Penn FA – the FA person just saying the NPC result is a “big bummer” when your FA package COA is almost 3 times what the NPC shows is problematic at best. Get the person in charge to explain the discrepancy and see if they can close the gap.
The fact is that you didn’t communicate with your parents well before you applied for Penn ED. Penn did not cheat you in offering your FA. Your family has substantial assets that are used to evaluate FA in almost all colleges including elite schools, but your parents don’t want to pay your education. Of course, it is not YOUR fault. Presumably, you didn’t sign the agreement of your admitted to Penn and will not attend Penn, you should submit your RD applications to other schools. Good luck.
Are your parents willing to sell any of their assets to pay the parent portion for Penn or any college?
NPC is not binding to Penn. They do not need to give explanation. Our NPC show an aid over 20K. We got nothing. We appealed, They just denied it without explanation of the discrepancy. If OP’s parents own multiple property. OP is richer than us, and should be grateful if Penn granted any aid.
@f2000sa not sure what your situation is, but I’m sure you can get it worked out because all I had to do was submit a form. In addition, I am incredibly grateful we were able to recieve any aid at all, but the fact of the matter is is that what was requested was 40% of our income when we are a low-income (USDA free lunch approved) family of 5.
I guess the way FA is determined really is a mystery.
Not sure how to close a discussion board, but I assume everything worked out well because I sent an email and Furda got back to me within 3 hours that my withdrawal was processed and that I will not be penalized for enrolling or pursuing enrollment at another situation.
Thank you everyone for the input!
@yoharamona Best of Luck to you!!