<p>So, I was accepted to the Emory University Class of 2017 and that was great but when I saw that I would have to pay around $18k per year to attend on my family's $97k per year income, some part of me died inside. This is especially difficult when considering that my mom is going to be a full time student this August and so although our income will be halved this year, it wont show on the tax returns of this year and we'll still be expected to pay that $18k. </p>
<p>On the other hand, I have Ohio State Honors which I can attend for basically $0 on campus with scholarships and grant money. </p>
<p>I contacted the Emory financial aid office and they replied with "can't help you since it won't show on your tax returns this year". My appeal didn't work but I'm hoping that if I attend this year and my parents can pay it off, which they said they will without too much difficulty from their savings, I should be able to go the next 3 years after the FA office has reworked my financial aid package since we'll be below $50k per year and I should get much more in grants. </p>
<p>Any thoughts/advice/reality check?</p>
<p>If you’re parents say they can pay for it without much difficulty and your problem will be pretty much solved for the other three years, I think you should go. Emory definitely excels in so many fields compared to Ohio State. You’ll probably have a lot more opportunities available at Emory as well.</p>
<p>Yes, but the only question is if the reworking of the financial aid package will allow me to continue attending. Although our income will be cut in half, there is no guarantee that the amount we’ll have to pay will be feasible, especially considering that my parents won’t be able to keep paying such large amounts each year. I understood from the site that the unsubsidized loans are converted into grant money if the family income is <$50k but I don’t know how much good that will actually do. </p>
<p>I don’t know if I should take that risk because I might end up having to transfer out of Emory the 2nd year and that would be a drag haha…</p>
<p>Emory is pretty generous with low income families based on people I know; even though my parents earn 150k+ they still gave me a lot. I’m pretty sure you’ll be fine. Esp if your income will be around 50k/yr</p>
<p>well, it’ll show on your tax return next year, so you’re payment next year will be less.</p>
<p>I think paying 18k is reasonalbe to ask when your income is 97k. it’s 20% of your income.</p>
<p>so, i guess that’s your reality check.</p>
<p>Remember that Emory is a Profile school and looks closely at all your assets. My aid package included loans even though our family income is well below 50K. We did have assets and it appears that they treated the all the equity in our house as cash.</p>
<p>Also do not forget to factor in increases in tuition and room and board over the four years.</p>
<p>@noname87 We don’t have much assets. I think the value I last saw was $20k in assets of any kind. But even considering the assets and my home, they already gave me a good financial aid package and it’s not as if they would change how they consider it in the next package so I don’t think the assets should matter in the future, if they remain the same. </p>
<p>I don’t know about the increases in tuition but I think they would try to accommodate for that…</p>
<p>Another issue is that my mom will be resigning in August so she will have worked for 7 months prior and in the next tax return for 2013, it will look as if we will make more than we actually will in 2014. Since they consider the 2013 tax return for the '14-'15 year, that will lead to some trouble. Is there any way that they might be able to consider the fact that the income isn’t represented well for 2014 in the 2013 tax return in the financial aid package?</p>
<p>thanks!</p>
<p>You should probably contact financial services regarding that question. You literally can’t afford to get the wrong information, so you should go to the experts.</p>