Student initiative a hoax?

<p>penn’s student initiative is extremely misleading when the news was published it quoted amy gutmann, 'by providing financial aid packages without loans to students whose paretns earn $50k or less, we can ease their financial concrens." its stating upenn would eliminate loans for those families, as least to most ppl’s understandings. the whole article seem to suggest that if ur family makes less than 50k…then no loans. however, this was not the case…ur loan would only be somewhat eliminated if u r determined by the financial service as “disadvantaged.”
does anyone else feel some ingenuity in penn’s publication in this article?</p>

<p>Well, i think the reason for this is that some wealthy families may have "income" of <50k, but actually have significant assets and should NOT qualify for free tuition.</p>

<p>ok...if thats the case...i dont think they should publish an article called penn eliminate loan for family of income below 50K...its simpily for publicity...a prestegious university should not publish misleading articles such as this</p>

<p>So $50k family still pay? Penn makes ALL students contribute at least around $2.5K by themselves right?</p>

<p>My family's adjusted gross income is about 8000. My dad makes about 40,000 a year (if you include benefits). We have no savings what so ever, don't own a house, cars are woth less than 10k total, 2 kids already in state colleges, etc. We are actually in debt over 40 grand.</p>

<p>And andyway... This is how my aid breaks down:</p>

<p>Parents' contribution: 1100
Student contribution: 1100
Work-Study Program: 1300~
Grants: The rest of it</p>

<p>That's a great aid package... I'm not complaining at all. Sure it isn't a HYPS "you don't pay a dime" package but I can easily make that money in the summer working a job, so there will be no real need to take out loans -- just get a job ;o</p>

<p>I don't get it..klogon..
My family make less than your family and we do not have hidden savings assets or extra clandestine wealth, but Penn is still asking 12K from my family. Isn't 50K family supposedly paying just several thousand since that whole 50k deal? My office FA letter has arrived yet tho, I just saw these #s online. I don't know..i'm really confused by this deal.........</p>

<p>Strange... but to be honest, I thought we would be getting a package like this because our FAFSA EFC was 29 flat (and that 29 was from my own personal bank account of like 200 bucks or something)... Hopkins gave me a very similar aid package to Penn.</p>

<p>I don't know... every place that calculates our need says we are in the extreme needy spectrum - to be honest, when I saw our tax forms for the first time in my life, I was so surprised how little money we actually make ;o</p>

<p>Again, I dno't know why they are asking you guys for 12 grand... especially after all that type in the media about their aid ;o</p>

<p>dreamers...
I don't get it..klogon..
My family make less than your family and we do not have hidden savings assets or extra clandestine wealth, but Penn is still asking 12K from my family. Isn't 50K family supposedly paying just several thousand since that whole 50k deal? My office FA letter has arrived yet tho, I just saw these #s online. I don't know..i'm really confused by this deal.........</p>

<p>the online aid package is the same as the one coming in the mail...dreamers im in similar situation as you my parents only makes around 30k...and we have 10k EFC...and over 5k loans...i think its really ridiculous how much they publicize about their new "financial aid initiative" and publish the misleading article when it really dont help anyone at all</p>

<p>i totally empathize. i got my finaid packet from Penn.
My EFC from FAFSA was 3700-ish
They want my parents to pay over 6000$ plus loans
And yet my parents make WAY less than 50k
it IS misleading and the crappiest part is that they won't even tell you why your finaid packet is the way it is.
yet another great awesome school wants my parents to pay $718 a year....i guess it's the other school for me</p>

<p>aznlegna, show Penn the other school's financial aid packet - it gives you a good negotiating position regarding the amount of money Penn can give you.</p>