I thought they capped loans at 5K but they asked him to take out 7K
I’m curious if the met your EFC or if the financial aid offered was consistent with the result of the net price calculator on the Lehigh website.
Lehigh gave me a poor result on the NPC so D will likely not apply.
Npc gave our efc 10k lower than actual award. That’s not just " a little" off. I really don’t understand. We are heartbroken
I was also admitted ED and received a price that was 10k higher than the financial aid calculator said. Loans were also 7k. Additionally, my award looks like it didn’t take into account my sister who attends another expensive private university. I’m truly heartbroken as Lehigh was my first choice school.
Appeal these awards. Humans make errors. You have the upper hand because if they don’t come around, you can request a release on financial grounds.
Appeal.
The fact the loans aren’t the 5.5k federal loans may indicate a mistake was made.
Ask for a review, pointing out that the loans are above the federal limit and the financial aid is 10k off compared to the NPC so Lehigh, despite being your first choice as indicated by your ED application, is currently not affordable, whereas if the package had matched the NPC, it would have been.
Thank you for the responses. Does anyone know of anytime a mistake was made with financial aid at any college? This would give us some hope
There was a sub loan of 3k, an unsub loan of 2.5k. And a private Lehigh loan of 1.5k. This is within fed reg but not what Lehigh advertises as no loans beyond 5k. I’m appealing and hoping it was a mistake
All the time, every year.
@dinometer, do you have assets over 500k, or own a business by any chance?
Assets,no. Do not own a business. quite a bit in retirement funds, though…would that be a reason?
Assets over 500k (including retirement) could be a potential problem. But still, 10k over financial aid calculator seems quite off.
Dinometer - Did you have any luck with an appeal? Any more money offered? Would really love to know as my D applied EDII and NPC gave a good number. But now I’m very concerned! Thanks!
Appeal was not successful. Offer did not change. We are sending him because he has worked so hard for this. We have a financial plan that allows us to afford it - barely.
Sorry to hear that, Dinometer. I just can’t understand how their award can be that far off from the NPC. 10k is huge! Makes it very difficult for parents to plan and not fair to the kids. You sound like a very supportive parent! Keeping my fingers crossed for my daughter ( that she is accepted and gets a fair financial aid package if she is.) Best of luck to your son!!
It was my error on the NPC. I’m embarrassed to say that I did not put our retirement withholding in. I had a lot going on at the time and was doing it all myself, and because I only focused on the 1040 form line (which mine had nothing), I put in nothing. Retirement withholding IS income. That is fair. If you do the NPC accurately, (and I punched in the correct numbers later), Lehigh has a very accurate NPC
I just want to clarify, after nez51’s comment about retirement funds. Money in a Qualified Retirement Plan does not figure. But yes, your annual contributions usually do.
Good to know! I think I entered everything correctly. I did put in contributions to retirement plans. Is that what you are referring to? And I hear you as to having lots going on and not enough hours in the day! I think I’ll double check it just to be sure. Thanks again. You have been very helpful!
@dinometer
They might assume that you would take out a Parent Plus Loan,… or just front the cost.
Yes, that is what I mean, retirement contributions. Good Luck, sounds like yours will be a lot more accurate than mine was!