<p>I'm in my 20s but I never went to college, and I am going to start this fall. I have several applications in, and so far I have been accepted everywhere, but I am waiting to hear back from one ivy league before deciding what school to attend.</p>
<p>Will the schools be upset or want to rescind my acceptance if I apply for aid, even though I checked the box for "do not need aid"?</p>
<p>I checked out the FAFSA, and I would qualify for the highest amount of aid since I currently have no savings or homes in my name. I do not want to pass up the money if they are going to give it out to someone anyway, but I also do not want to get on the school's bad side and have to explain my financial history.</p>
<p>I started to consider this after one school I applied to sent me a letter stating that they were giving me a $20K scholarship that I did not even ask for.</p>
<p>Did you work in 2008, that is part of the fafsa formula. Are you at least 24, because if you are not, your parents need to put their data on the fafsa.</p>
<p>yes, you should contact the schools you applied/were admitted to. Have you only received 1 FA award letter? If schools think you aren’t applying for aid you will get a completely different FA award than if you fill out the fafsa, get any Pell or other grants and you can then borrow stafford and possibly a Perkins loan. </p>
<p>If school doesn’t think you need aid, some may not offer you much and expect you to pay the entire bill.</p>
<p>If you are a guy, and did not already apply to the selective service you have to do that too or you won’t get any federal aid. I think the age cutoff to do that is before turning 26 yo.</p>
<p>Also keep in mind that that scholarship you got was probably a MERIT award. The Ivies do NOT award merit aid. In other words, don’t expect to get a financial aid award from them unless you complete their need based financial aid application forms. </p>
<p>If you are planning to do this…you need to do so ASAP. You need to complete your taxes, do the FAFSA, and do the Profile for the schools that require it. See if any of them have their own financial aid form too. Send them everything they need.</p>
<p>And Sue is correct…unless you are 24 or over, your parents’ info will need to be provided (unless you have no parents…).</p>
<p>Thanks guys. I’m over 24 and registered for the selective service. The $20K was a merit scholarship from a local private college with a 30% acceptance rate. I was surprised because they said I was selected from a very competitive pool, but I never even asked to be considered.</p>
<p>I retired, so I do not have any personal 2008 taxes. My net worth is zero. Will I be hurt (on FAFSA) since I did not have any income in '08?</p>
<p>Could a university admit me thinking that I am going to pay the $35K + room & board per year, then reconsider when I ask for aid?</p>
<p>If you had 0 income and 0 assets, they’re certainly going to ask how you managed to live! The FAFSA does ask about other means of support and I’m pretty sure Profile does too. How were you planning to pay for college when you said you didn’t need aid?</p>
<p>I think you’re going to have to contact Admissions and FA at the schools to amend your application. Just talk to them - if they say too late, then go from there.</p>
<p>In your 20’s, retired, no income or assets. I’m missing something here…</p>
<p>Schools all have priority deadlines for applying for financial aid-- most of those have passed by now (for Fall 09/10), but you can still file late.</p>
<p>Out of high school I started a couple businesses…then I sold them after a few years. I had cancer and spent a lot of money on that. Real estate, bank accounts, etc. were transfered to family members or into trusts. I live in a place that used to be mine but is now legally owned by a family member.</p>
<p>I basically live off money I earned but now belongs to another legal entity or relative. I was going to pay cash for school by getting the money from a relative, but at this point I would rather get the money in the form of aid since I do not want someone else paying my way, no matter how they got their wealth.</p>
<p>^That’s the kind of personal info I do not want to talk to the schools about.</p>
<p>OK…what am <em>I</em> missing? You don’t want someone “else” to pay for your education? If you get institutional need based aid, someone else WILL be paying for your education. It sounds like you have done a good job of sheltering quite a bit of YOUR OWN money (if indeed this fishtale is even true). If that is the case…and YOU have this money, regardless of who is holding it for your, perhaps you might consider paying for your education yourself. Need based financial aid is for folks who do NOT have money. It sounds like you have PLENTY of it…that you have strategically placed in the hands of others. I’m sorry…but your story doesn’t add up, in my opinion.</p>
<p>Thanks for the input thumper, but I needed to protect it from liens due to possible medical expenses, and I still legally qualify for aid through FAFSA due to my current position, so I do not see why I would turn it down. It is easy for you to say “don’t take aid”, but my q was asking about requesting aid after my application is accepted. I “could” pay for it with money taken from my father or brother, but I do not want to if I can get aid. It is going to someone; it may as well be me. Your post has a smart alec tone, so please ignore mine if you feel the need to do that again.</p>
<p>Doch…go ahead and apply. For the Ivies you will also need to complete the Profile in addition to the FAFSA. Check your other schools too…they may have that as a requirement as well. </p>
<p>Be prepared to explain how your living expenses were met when you are not a dependent, had no income and had no assets for 2008. The schools will certainly red flag such an application, or at least that is my understanding.</p>
<p>Simply put, you will have to be honest about how your bills were paid, and how much money you received from others to cover your bills.</p>
<p>Good luck…and if this fish tale is true, do let us know how it all turns out.</p>
<p>It’s March 16… way past those deadlines for applying for financial aid for this year.</p>
<p>Doch - You actually are going to enter some income on the FAFSA - but as untaxed. Question 47j will ask you to enter “Money received, or paid on your behalf (eg. bills), not entered elsewhere on this form.” So, housing, utilities, food, gas, etc. will go here. </p>
<p>Having one business success of the magnitude you suggest while young and without a college education is amazing. Having multiple is highly unusual. I would have to imagine this was highlighted in your applications. I guess as the school I’d wonder about the disconnect between your success and the need for aid.</p>
<p>You must have paid a ton of gift tax in transferring that money so I don’t think it’s unfair for you to apply for aid. But I’ll be tremendously interested to hear the outcome. Even colleges that are need blind have to keep to FA budgets. And I think many do believe the need for aid does play a role most everywhere. </p>
<p>So since this isn’t a job loss or other event related sudden need, it may well look like a bait and switch to the schools.</p>