<p>As a preface, in case you couldn't tell, I want to go to Emerson College. It's my first choice. I'd definitely settle for any other college in the city of Boston though; Suffolk U, Northeastern, etc.</p>
<p>Anyway, I'm really concerned about fin. aid because my family basically qualifies for nothing. Our income is around $175,000 a year but we also own four homes and pay mortgages on all of them.
(I love my parents, but they basically didn't save anything for me to go to college. They are now encouraging me to go in state because they didn't save. Although there are good schools in Virginia (I've considered GMU, VCU, and CNU) most of them don't have the "feel" I'm going for. I don't want a "rah, rah" frat infested continuation of High School.)</p>
<p>ANYWAY. Would it be beneficial to visit financial aid or email with them to discuss my circumstances or is that not okay to do? I'm a Junior and graduate June 2014, entering college Fall 2014.</p>
<p>If not, are there any suggestions as to what I should do? I want to go out of state so badly; I'm spending all this summer applying for obscure essay and specialty scholarships.</p>
<p>*Our income is around $175,000 a year but we also own four homes and pay mortgages on all of them. *</p>
<p>Sorry, but those are not “special circumstances.” Those are choices. Your parents do not have to own 4 homes. Are some of those rentals? </p>
<p>Special circumstances are things like: expensive medical expenses not covered by insurance, a “special needs” sibling that requires lots of expensive care, etc. Choosing to own 4 homes and have 4 mortgages is a choice.</p>
<p>YOu can ask a college if you want, but be prepared for them to tell you that they’re not about to give you aid just so your parents can keep FOUR homes.</p>
<p>You can ask your parents how much they’ll spend each year. Then add that money to another school that will give you merit scholarships and go there.</p>
<p>All of the homes are rented out. One we moved out of a couple years ago and it won’t sell so it’s rented out. We attempted to sell it this year to help but it wouldn’t sell so we rented it out again.
The other two were real estate ventures and they are both rented out. They all won’t sell.</p>
<p>I was just wondering if I explained this to financial aid offices, if they would take it into consideration.</p>
<p>Oh, they will take it into consideration all right. Rental income is considered income and even Harvard hits that hard, so you are highly unlikely to get any financial aid. That they are mortgaged up, at least doesn’t add to the asset values. But, nope, I don’t see how you are going to qualify for aid. Too much money here, and the schools don’t consider your circumstance unusual. Lot of kids in your situation.</p>
<p>You are fortunate in that you do have some good schools in VA. Take a look at what available there. Also look at some MA school, Boston schools, where you will be at the top end of the stats and if they have sizeable merit money they might give out, you might get some of it. My friend’s son got accepted to UMass Amherst with in state tuition and $8K in grants, which makes it less than what our state schools would cost. I don’t know oif UMass, Boston would have anything like that. </p>
<p>The higher you are in stats for the student pool at these schools, the better your chances fo some good merit and even aid.</p>
<p>Emerson, your parents have chosen to invest money in rental properties. The equity in those properties will be considered as assets, and the rents will be considered income.</p>
<p>Are you suggesting that you should receive need based aid so your parents can own FOUR real estate properties? I’m sorry to say that need based financial aid isn’t for that purpose.</p>
<p>The best thing you can do is look for affordable colleges. Are you a Massachusetts resident? If so, maybe one of the UMass campuses closer to Boston could be a choice. The private universities you have listed are NOT going to give you a nickel of need based aid based on what you posted here.</p>
<p>You need to understand…MOST parents do not have college savings accounts for their kids. They just don’t. You need to discuss college costs and how/if your parents can help you with them. Then you need to work within their financial limits. You can look for schools where you might garner significant enough merit aid to afford to attend.</p>
<p>You are a VA resident? VA has very strong state school options that you may want to explore more fully. I teach at JMU, and I would not say it is a “rah, rah frat infested continuation of High School.” Maybe because I teach in the arts, but regardless… I am sure you could find a more like minded group of students. Your GPA is on the lower side for JMU, but not impossible. VCU is more of a city school… also not a “rah, rah frat infested continuation of High School.” as far as I have seen. GMU and CNU are also strong options. </p>
<p>Need based aid will not really be available for you as you do not really have “special circumstances” as far as colleges are concerned. How much can your family contribute? Would they be able to afford IS tuition, room, and board? Is tuition? A smaller amount? A larger amount? As a freshman you can take out $5500 in federal student loans in your name. You also can work in the summer and during the year to help meet costs. </p>
<p>I am from New England and love BOSTON… so I get it. I would love to be living back up in New England, but my job is in VA… and I love my job, so there you go. On another thread you mention that you are interested in majoring in marketing. Perhaps look at UMASS Boston as an option… [Management</a> & Marketing - University of Massachusetts Boston](<a href=“College of Management - College of Management”>College of Management - College of Management) </p>
<p>Tuition and fees for OOS students is about $14,000 per year. UMB does not have dorms… but an active Housing office on campus to help students secure off campus housing.</p>
<p>The best aid is from the schools themselves (when they have merit based aid or need based aid that a student qualifies for). Outside scholarships are often small and for one year only. They certainly can help, but will not likely help meet the cost of a private university or OOS public where you are not granted much aid.</p>
<ol>
<li><p>Need-based financial aid is primarily based on income, so with $175K annual income, most schools will give you little or nothing. Emerson College does not meet need (on average only meets 70% of need, including loans), so it’s not a good choice for need-based aid even for those who do have demonstrated need. You can use each school’s Net Price Calculator to get an idea of the numbers.</p></li>
<li><p>You need to figure out how much your parents will pay towards your college. $20,000/year? $10,000/year? Nothing?</p></li>
<li><p>Based on what they will pay, you need to find colleges in that ballpark price range (usually in-state publics) or colleges that will make up the difference (if any). Your stats (grades, SAT/ACT) will determine whether you can get merit-based aid to make out of state and/or private schools affordable.</p></li>
<li><p>You are VERY fortunate to live in a state with a lot of great public options. Look into all of them.</p></li>
</ol>
<p>Take a look at Christopher Newport University in VA. My niece got a nice package there. She is in state for VA, does not qualify for aid. </p>
<p>My brother has found that the VA schools are tough going with high SAT threshholds. JMU was not in the picture for either of my nieces who ended up OOS for college. They had great grades, but not the test scores, and the drawback of being in a state with such great schools is that getting into them becomes an issue.</p>