I’m an international student and I got accepted at Dartmouth. My parents make around 100k$ a year, but the financial aid expects them to pay around 40k$ a year, which is impossibly affordable. They have no assets or investments, except for our only house in our homeland. Are there any scholarships that I can apply for ?
Dartmouth only gives need based aid. Did you file for financial review/ Although the school is now need aware to international students, they still commit to meet 100% of your demonstrated need (however they decide the need).
There seems to be something missing. Is the house worth a lot?
Is $100k their “after tax” income?
Is that income from a business?
Something isn’t right here. Is this after or before tax income? What is the value of that house in the homeland? Are your parents self employed, or do they own a business?
Dartmouth pledges to give free tuition to students with incomes under $100,000 a year. Those with higher incomes d get aid, but not as much.
If your parent income is $120,000, it is very possible that their family contribution is in the $40,000 a year range. That is what it would be for students here.
@mom2collegekids
@thumper1
The house is about 130k$. They can’t benefit from it actually since it’s the family’s bouse and stuff, and the only home we have in our homeland. They don’t own their own business; moreover, we are actually living in K.S.A, not Egypt, my homeland, so my parents are foreign employed citizens, and their contracts are renewed year by year. This is the after-tax income
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after-tax income
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Ahh…schools don’t use “after tax income”.
Do they contribute towards retirement accts?
Do they rent the house out?
Do your parents get an additional “housing subsidy” since they have to live in another country?
Since they’re not living in the house, that will be considered just a regular asset…not a primary home.
@sybbie719
The problem as u said is that they decide the need. The Financial Aid Review appeal got me 1000$, as if this is what’s going to make the difference…
There really aren’t scholarships that you can apply to here as an int’l.
also, be aware, that if you get scholarships (either from your country or here), then Dartmouth will reduce their aid.
Hmm taxes aren’t that much/wouldn’t make your income over $125000, right? And aid isn’t “all or nothing.” It’s gradual, so if an income of 100k gets an EFC of $15k (room and board), an income of $120k would get an EFC of about $22k?
So basically the problem must be assets. That house in your homeland is considered a secondary property since you’re not living there now, and thus is assessed harshly.
This is where the disconnect is; your family has an after tax income of 100k… The school considers your before tax income. What is the before tax income? Dartmouth is not expecting your family to pay 40k out of their current income: they expected some savings (past income) along with the possibility of future income (loans)…
^ no, $100k is the after tax
Nope. My parents income after deducting the taxes is 104,000$ -105,000$. The taxes are really so little that they don’t count; I didn’t even deduct them, just 50$ or so. About the savings, they aren’t that much tbh. I don’t get how can my parents pay ~40k for this year, and how can your house in ur homeland be considered an asset ? What if they leave and return to Egypt, that would be their only place to live ? What if any of us visited Egypt during any time of the year ? It doesn’t make sense.
@mom2collegekids
The 105k$ annual income, includes the living allowance, and about the taxes, they are just ~50$ difference that I didn’t even deduct them. We are living right now in a rented appartment that’s it. And no, they are not going to retire soon. And since I can’t get a scholarship, I believe that this is it, right ? I mean I have nothing I can do.
If your parents are renting your current residence, then the house in Egypt is considered an asset ( that they can sell, rent,borrow against ) to use for your educations. What you have to remember is your family is first in line to pay for your education. Financial aid is made available for families of have need. Dartmouth considers your family not to have a considerable need
What is your parent income BEFORE taxes??