<p>What's the risk of me applying ED to Duke? Financially, I will not be able to afford it if I get full aid. My family has almost no income, but "above average" assets, which honestly, if they were sold, my parents would be in poverty during retirement. If I do get accepted and cannot afford it, I could always reject right? I am asking this because when I talked to an Emory financial aid counselor, he looked at me and my parents in disgusted and told me not to apply if I cannot afford it, not even to give it a chance which really angered me at how disrespectful he was to my parents just because they, although both professionals, are unable to find a job in the current economy. Thank you so much for your advice!</p>
<p>From what I understand, if Duke and your family cannot agree on an adequate financial aid package, you have the right to withdraw your ED application. That being said, I think the process is a little bit more complicated than saying “I don’t like the amount of money you gave me so I’m not going” so make sure you don’t sign the ED waiver blindly. Hope this helps.</p>
<p>Thank you. The thing is, Duke is my dream school, but I can only afford to pay around $10,000 a year total, including room and board.</p>
<p>More advice, BUMP please.</p>
<p>Duke is one of the few schools that are need-blind in admission and meet full demonstrated need of its applicants. So, you will receive the same aid package from them whether or not you apply ED vs regular decision. You should start by running your financial numbers through Duke’s customized net price calculator:
<a href=“Net Price Calculator”>Net Price Calculator;
<p>EFC is primarily income driven, so if your family really has “almost no income”, even with reasonable assets, you still might be ok. You need to run the numbers through the calculator to see for yourself.</p>
<p>A Duke financial aid package, for those who qualify, will start with an expected student contribution from income (also called “summer earnings” contribution) of $2100 for entering freshman. So regardless of whether or not your family has a 0 EFC, you will have that expected contribution. In your financial aid package you can expect $2000 in work study and $5000 in Stafford loan (you may also be eligible for a Pell grant up to $5500 if your income is below about $30,000). If your family income is less than $40,000,the Stafford loan will be replaced by Duke grants - then there’s a sliding scale up to $100,000, see their website: ([Duke</a> Financial Aid: Building Your Award](<a href=“http://www.finaid.duke.edu/undergraduate/prospectives/howitworks/awarding.html]Duke”>http://www.finaid.duke.edu/undergraduate/prospectives/howitworks/awarding.html)). After packaging “self help” aid (work study and Stafford loans), Duke will meet your remaining need with Duke University Scholarship Grants.</p>
<p>With all of that being said, I would still suggest that anyone with considerable financial concerns is better off applying regular decision. Even though Duke’s financial aid is generous, there are often differences in aid packages due to the way some schools evaluate income and assets (for instance some schools cap home equity, while others do not). If you apply regular decision you have the opportunity to compare financial aid offers. Some schools like Dartmouth are very open about the fact that they will come right out and match other school’s offers (for Ivies and a few others determined each year - last year they matched Stanford, MIT, UChicago and Duke).</p>
<p>If your income is below a certain amount (60,000 i think), Duke will not make your family pay any money</p>
<p>Thank you for your answers! I have used the Duke calculator and have come up with a cost of $4,000 a year. I’m worried that this is not accurate though, because when I use other calculators like Dartmouth, it’s around $40,000 a year! Are their methods or calculating really that different? And how accurate is the estimated net price calculator?</p>
<p>BUMP!</p>
<p>We were at a tour there yesterday. The admissions person said that every year there may be 1 person who ends up backing out of ED for financial reasons after aid is given. Whether its because people are having their need met, or are very cautious about applying I don’t know.</p>
<p>When I went to campus there was a brochure about ED and it said that applicants who need FA are recommended not to apply ED. </p>
<p>I think there is a way out, but the best way to go about it is to compare FA through RD (ED does give you a boost- but a lot of those are probably hooked -ie athletes, connections, legacy)</p>
<p>But do what you want because there is some sort of way out if it really doesn’t work, and Dukes FA is supposed to be pretty good</p>
<p>Did you use the College Board calculators for both Duke and Dartmouth using the identical information? If so, with that big a disparity, there’s probably something unusual about your situation with regards to assets and/or income. I would suggest calling Duke’s financial office to discuss the details of your situation with them. They may be able to give you a more accurate “early read” on what your expected package would look like. Also, if you have an unusual situation with assets or income, it would be best to talk to them directly to see how their needs analysis would work in your situation.</p>
<p>I second dukedad’s recommendation. Call the Duke Office of Financial Aid and ask if they calculate FA packages differently for ED vs RD applicants.</p>
<p>@dukedad
@slik nik</p>
<p>Thank you, both your responses were helpful. Actually, I did contact the Duke financial aid office and they just redirected me to the Collegeboard’s Net Price calculator with the disclaimer that that cannot be used to reflect actual financial aid. I told them about my special assets/income situation too. Sigh, I feel like they won’t look into this seriously until the time comes when I hopefully am accepted and I enter the process. So far, I think I’m just going to apply RD and hope that I get it!!</p>
<p>@ OP: You may want to contact the Office of Undergraduate Admissions. They will probably be more helpful. When you call, ask to speak to the admissions officer on duty and ask him/her about financial aid offered in ED vs. RD rounds. It’s worth a shot; it can’t hurt.</p>
<p>While Duke’s FA is supposed to be good, I guess it makes sense to see what FA/merit offers you get</p>