Totally Screwed???

Paying for College
1

<p>Just got my UChicago "package" today after getting accepted EA. I got NOTHING. Absolutely NOTHING. The average amount of gift aid by my income is something like $29,000 according to the UChicago. We live on a farm, and my dad filled out the farm supplement. So obviously there are a lot of assets, but it's not like a farmer can go sell all his land and equipment and still have a job. I am massively confused and exasperated, anybody have any experiences getting HUGE changes in fin. aid? Anyone ever tried to do this from a farm? I am desperate.</p>

<p>I also have a sister in college, I thought that would have helped.</p>

2

<p>Are you sure the provisional financial aid assessment is in there? The web site says it would be done my mid Jan.</p>

3

<p>It says "we are sorry to have to tell you that based on the information provided, you are ineligible to receive need-based financial assistance for the 2007-2008 academic year".</p>

4

<p>I am sure you can call in and sort things out. Good luck.</p>

5

<p>You should really contact them to just ask how the farm assets were included in the computation of EFC. Farms are treated differently on the FAFSA (public) and the CSS (private) and are somewhat of a wildcard from school to school on those schools that use CSS. Just call and ask.</p>

6

<p>The farm is considered an asset, while your parents don't have to sell land, they may be able to borrow from. based on your other postings that the farm is valued at $2 million. While your family may be considered "low income" they have vast assets, which is the main reason that you did not get need based aid from chicago. There is a distinct possibility that you will get the same type of FA package from any other school that gives aid on the basis of demonstrated need.</p>

<p>One of the good things about EA is that it is non-binding giving you the opportunity to check out schools where you could be in line to collect merit money. You can also look at schools that only take the FAFSA. good luck to you</p>

7

<p>Thanks for the relatively good news. It kinda confused because my sis attends a FAFSA only school that spit out an EFC of some $20,000. Her school costs that or more, so I was totally thrown off, but I guess the Profile and supplement did it.</p>

8

<p>It's not just farmers that have this problem, Drummerdude. Many who own businesses or whose earnings come from assets have this same problem.</p>