Special Circumstance Regarding Financial Aid and Early Decision

Colleges and Universities A-Z Rice University
1

<p>Hey, guys!
As I understand it, if one applies to Rice as ED, his/her financial aid package will be based upon the CSS profile, not FAFSA. Since I'm the class of 2014, and I want to apply ED, I would have to fill out the CSS based on my family's 2012 taxes, since 2013 wouldn't be over yet. </p>

<p>This is my dilemma:
I want to attend Rice more than any University, hands down. Location/size/feel/prestige/looks/everything is perfect for me, it's wonderful for my intended major, pre-med (yes, I know it's not an actual major, but you get the point), and I have had family members attend there, among countless other things. Basically, I am absolutely sure that I'm passionate enough about Rice to apply ED. </p>

<p>Earlier this year, my father quit his job at a large corporation to focus full-time on his own business, which he started a few years ago. Thus, our total family income(he's the only one that works) is somewhere around $65,000 for 2013, but $200,000 for 2012. </p>

<p>If I apply ED, which I want to to help boost my chances of getting in (I'll list some stats below), I'm sure that I would get almost no financial aid from Rice. Thus, I probably would not be able to attend Rice because of the financial burden on my parents it would cause, so
I'd have to apply RD. </p>

<p>Should I e-mail Rice and notify them of this issue? Will they allow me to apply ED but base my Aid off of my father's 2013 taxes instead of 2012? Should I just risk it and apply Regular Decision? </p>

<p>Some Stats:
GPA- 3.87UW/ 5.65W (Straight A's Junior year)
Rank-top 5-6%
Some EC's:
VP of Student-Alumni Mentoring Board, 2yrs (undergrads talk to HS kids about college, etc)
V Wrestling
Student Ambassador Program, 2 yrs (prestigious internship w/ Endocrinologist in hospital)
Internship at Endocrine Clinic, 1 yr (Different one)
I'm also diabetic, and wish to be an endocrinologist, so my essays will be strong and I'm passionate about what I want to do. I also want to apply to the Rice/Baylor. </p>

<p>I know this is a ton, thanks for reading it and applying. I'm quite nervous =/</p>

2

<p>If you are premed and like Rice, check out the Rice/Baylor BS/MD program. One of the best in the country. It sucks that the income changed so much.</p>

3

<p>I do plan on applying to that. However, the issue of financial aid still exists.</p>

4

<p>I am not positive of this, but fairly certain.</p>

<p>You will use the CSS based on 2013 numbers (best guess based on as much factual info as possible). You will have to submit 2012 tax forms. IIRC, the CSS has room for “explanations” (not pleas) where info about the job change would be relevant.</p>

<p>The FA package you receive with ED acceptance, I believe, is preliminary, based on what info you send. Your final package would come when every one else’s does… around mid-March, after you have submitted your FAFSA (do this as quickly as possibly in 2014) and a final/accurate copy of the CSS.</p>

<p>It may be worth a call or email to Rice financial aid to ask if you would likely receive two different FA packages or how you can best explain your situation so that your FA package is based on 2013 and not 2012. HOWEVER, recognize that your dad quit a 200k job presumably under the assumption that his own business will exceed that in earnings. So realistically, if your FA package IS based on 2012, it probably won’t be too far off of reality for anything but your freshman year.</p>

<p>Also, did your dad receive a severance package from his old job and how many months of income did he receive from that job? It is difficult to predict income for 2013 based on just starting (refocusing) on a new business. This is only the end of May. There are 7 more months in the year for income earning.</p>

5

<p>If their aid isn’t satisfactory you can always call the school and see if they can bump it up.</p>

6

<p>I am in a similar situation. My parents income for 2012 was about $190K and then most years, it is $105K about. It will be $105K about for 2013. There was just a fluke income…bonus type thing for 2012.</p>