Student Negotiating Financial Aid?

Paying for College
1

I’m a 22 year old student who’s just been accepted into Hampshire College. If I accept their offer, I will transfer in one course short of completing my first year. My EFC is $7,000 and the college’s COA is $65,000.

I dropped-out of school after the eighth grade and have a <3.0 GPA from community college. I worked really hard on my supplemental essays and expressed a strong interest in an alternative academic structure, which managed to get me in. I couldn’t believe they offered me a $8,000 merit-based scholarship plus $29,000 in grants. Once loans and work study are added in, my total financial aid package is $46,000. This leaves me with $12,000 in unmet need.

I definitely appreciate the college’s financial aid offer and their interest in me attending; I’m ecstatic that I got in, but attending isn’t financially feasible at this point. My parents won’t financially support my effort to attend college and I’m not going to be making $35,000/yr while in college like I am now. The only way I can think of saving money is by living off-campus. I could get a room for $500-600/mo vs. the $1,000/mo to live on campus. (Yes I’m aware of commute and auto expenses.) The problem with this is living off-campus takes away from my financial aid–not to mention I’d actually have to get it approved i.e. this doesn’t seem to be a likely option.

I’ve worked really hard to gain admittance and I don’t want to give up now. Can anyone provide advice on negotiating financial aid?

2

Talk to the school and find out if your aid would be reduced if you lived off campus. At age 22, they may not have a problem with you living off campus.

How much can you earn during summers?

3

Congratulations on all your hard work.

Are you considered an independent student? Did they take your parent’s income into account?

Or is this based on your income?

Thank them for the aid they have offered and that you really would like to attend but with the unmet need it is impossible.

Your best argument is that if they are basing your contribution on your $35,000 income, that is not feasible if you are attending college, let them know you are independent and that your parents cannot or will not contribute. Ask them for a professional review.

Do you have other less expensive or full need options? In state tuition at your state flagship

4

However, Op is not independent. He states his parents refuse to assist him. That is not a basis for increased aid

5

OP, do you meet the test for independent?

6

Yes, my parents’ income was taken into account.

I don’t believe I would qualify for independent status. I’ve been supporting myself in terms of food, clothing, transportation (gas, car maintenance, insurance, etc.), and additional day-to-day expenses for the past five years. The problem is that I still live under my parents’ roof and I believe that this alone prevents me from gaining independent status. I am unmarried and without children. Furthermore, I don’t know that claiming to be independent would significantly help considering that the majority of my expected contribution is coming from me, not my parents. But perhaps I’m mistaken.

Sure, I could go to an in-state school, but I’m expressly interested in attending a school with an exceptionally open academic structure and room for interdisciplinary independent studies. I don’t live in a state that offers this arrangement via public institutions. I had really hoped to get into New College of Florida as their tuition, even as an out-of-state student, is the lowest of colleges with the academic arrangement I’m looking for; unfortunately, I was rejected.

I did just receive an acceptance letter from Marlboro College. I was surprised that their financial aid offer was better than Hampshire’s. I received a $12,000 scholarship and $24,000 in grants. Adding in loans and work study my award is $43,700. Marlboro’s COA is $54,000. With the ability to live off-campus, this is my best option right now.

While Marlboro remains within consideration, I’d still like to try to negotiate aid with Hampshire. I’ve read mixed ideas about presenting a better offer from another college as a way to negotiate more financial aid. Any thoughts?

Regarding potential earnings over the summer: ideally I’d make $10,000. Is that realistic? I’m not sure. Hampshire gives students four months off over the summer. Most of the paid internships I’m interested in offer $5,000 over 8-10 weeks. I’d like to squeeze two internships in over the summer, or one four month long internship, but I don’t know that that is realistic. (Will I even get a single paid internship?)

Thanks for the input!

7

Making $10K over the summer is unrealistic unless you’ve done it before. More like $3-4K

8

Hampshire College was on this list. Maybe they are more open to negotiating since they still have room.

http://talk.collegeconfidential.com/college-search-selection/1889549-colleges-with-openings-for-fall-2016-nacac-annual-list.html