Should I just still apply?

Paying for College
1

I have a dilemma. I was accepted to MIT (Yeet), and now I’m looking for ways to pay for it. My parents make over 300k in combined income, and own a business, and our FASFA EFC is somehow 110k+ so I’m 70% sure we won’t be receiving ANY financial aid for that 58k a year. However, I am also confident that may family cannot realistically afford that, and I’m pretty sure the only reason that high EFC came up was because my parents own a business. So we do not exactly exhibit “financial need”. So I must turn to outside scholarships.

Here’s the problem though: Every scholarship I look for seems to have a financial need component… I’m serious. Every one of them. Should I still apply to scholarships with a financial need component and put this on there, or should I just not apply to all the external need based scholarships because after seeing my EFC or parent’s income I wouldn’t even be considered, or should I write what I just wrote above and hope for the best? Would it be a waste of my time, or would scholarships with a need based component even take what I said above seriously? Please help me. Also, if anyone could provide me with some scholarships (especially minority scholarships) that don’t require financial need, that’d be great.

Disclaimer: I understand i am blessed that my parents make so much and i am in no way bitter about my life situation.

2

The real conversation you need to have is with your parents. How much will they pay?

3

I’d say don’t bother with need-based FA. Where else did you apply? Do you have any affordable options?

4

“Should I still apply to scholarships with a financial need component and put this on there, or should I just not apply to all the external need based scholarships because after seeing my EFC or parent’s income I wouldn’t even be considered”

You won’t be considered. 300k income is huge. 300k income AND business assets is even huger. There are plenty of upper class kids whose parents cannot shell out Ivy + comparable costs. That’s not a reason for a foundation that considers need to give you money.

Pick a more affordable school. Good luck :slight_smile: