<p>I'm doing Yale EA and both of my parents went to yale. Our income and stuff is pretty high (lil over 300k), but since I have a twin sister, the Yale financial aid calculator said I would get approximately 120k over 4 years, which is a ton of money obviously.</p>
<p>Still, my parents tell me to put "No" down for if I need financial aid. I know that Yale is need blind and I tell them that, but they do believe that there is some sort of advantage for putting No down. </p>
<p>Is there? And if I do put No down and get accepted, (I doubt this) is there any way to ask for aid if we end up needing it?</p>
<p>Not to be rude, but i would just put no down to be a good person. Your parents make 300k+ per year and you want financial aid? My mom is a single parent and makes 25k a year in a good year. I have 2 other sisters, and one is in college on a full scholarship. The other one is a baby. If they gave all the scholarship money to all the kids who didn’t really need it, my sister wouldn’t be going to BU, she’d be going to Westchester Community College.</p>
<p>Again i don’t mean any disrespect, i’m just giving you some food for thought…</p>
<p>And to actually answer your question, there isn’t exactly an advantage to putting down ‘no’, but it does make it easier on the school’s budget. ‘Need blind’ means that they don’t discriminate against students with no money because they can’t pay. They simply give them scholarship money. </p>
<p>There is no discrimination against studernts like you anyways because you can pay to begin with. So if you put ‘no’, then they will know that you’re one less kid they have to pay for.</p>
<p>Schools like Yale with such large endowment provide aid to all those who need it-that’s why it’s called “Need-Blind” admission. So, Ju_liaa you could still get all the aid you need even if chenman applied for aid. However, I have heard that especially with the economic situation as it is, those who do not apply for aid to have a slight advantage. So your parents ARE right, but you should weigh whether the tiny boost that might give you is worth 120k…</p>
<p>If your parents know they can afford it, then you should put “no” down. You’re a very lucky person indeed!</p>
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<p>If you actually end up needing FA due to a change in your situation, they’ll probably change your FA package to take into account the situation. (Check their website, though.)</p>
<p>Well of course you can still get aid, but for a family of 4 with an upwards of a 300k income, i don’t think that aid is 120k. That just seems insane to me.</p>
<p>“Well of course you can still get aid, but for a family of 4 with an upwards of a 300k income, i don’t think that aid is 120k. That just seems insane to me.”</p>
<p>Note: just playing the devil’s advocate here; I am actually a social-democrat who thinks the wealth gap in this family is a terrible, terrible ordeal that should be dealt with.
BUT</p>
<p>The taxes for a family that makes 300k+ a year are insane. Adding in 100k+ of college tuition a year, you are looking at much, much less. While I’m not even trying to argue the “fairness” of a situation where one fam makes 25k and another makes several hundred, chances are that the family that makes more has higher expenses, a higher mortgage, higher school/property taxes, car payments/insurance, etc. College is expensive for EVERYBODY.</p>
<p>I actually think that you should put down yes, if you think you’ll need FA. Income alone can’t really tell the whole story. 300K+ is a lot, but sending two kids to college at once (100k) is out of even of their league. Well, they could do it, but only by SIGNIFICANTLY altering their lifestyle. I’m sure that FAFSA would not consider their EFC to be that high. Having said that, though, if your parents have saved a lot for you and your twin sister’s college tuition, or if they have high assets, such as another property, then I could see the need for you not having to do apply for aid. It really depends on your situation.</p>