<p>So I recently was accepted to Lehigh University via Early Decision II plan, I received my financial aid package, my EFC being 1192, and received 43000 in grants. Yes, a decent financial aid package for an Early Decision candidate, but this cost my family $10,000 a year, which my dad cannot afford. Yes, I have had a job the past two summers only to pay for the bills however. The question is my dad sent in an appeal letter as of two weeks ago, and my financial aid status is currently under review. The deadline to enroll my deposit is February 28. I called in to see if an extension is available for those concerned on financial aid, because as of now Lehigh is unaffordable for my family, and they said I must write a personal appeal letter to the Dean of Admissions, who may have do two things. Give me an extension or rescind my application for not following the Early Decision commitment. Lehigh is clearly my top choice in colleges now and is truly where I wish to attend so I do not want to have the Dean suspect I am trying to compare financial aid packages as the lady suggested. She asked for my name too, but I declined, since she said she was going to inform the Dean about an upcoming appeal letter, and I did not wish for him to rescind my application or chance it. What should I do exactly?</p>
<p>So I recently was accepted to Lehigh University via Early Decision II plan, I received my financial aid package, my EFC being 1192, and received 43000 in grants.</p>
<p>Yes, a decent financial aid package for an Early Decision candidate, but this cost my family $10,000 a year, which my dad cannot afford. Yes, I have had a job the past two summers only to pay for the bills however.</p>
<p>Is Lehigh a CSS Profile school?</p>
<p>Does it meet need? If so, then it has looked at your family’s assets and thinks that it can afford to pay $10k per year. Does your family have a lot of home equity or a family business?</p>
<p>Is part of that $10k per supposed to include a “summer work contribution”?</p>
<p>Are there student loans in the package that total at least $5500?</p>
<p>What do you mean when you say that you work during the summer, but the money is for bills? Are you saying that you give your parents your paycheck to pay for their bills?</p>
<p>Besides a community college as a commuting student, where would you be able to attend college and live there for $10,000 a year? If the $42K was in grants, you will also be eligible for $5500 in Stafford loans bringing your shortfall to $4500. Most of that is probably NOT billed costs…the billed costs are things the university will send you a bill for…tuition, room, board, fees. If you get a summer job you probably can earn $2000 and that would leave you with a shortfall of $2500. Can your parents help you with part of that amount?</p>
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<p>This is from the Lehigh website. You got $42K in grants and are eligible for a $5500 Stafford…total $47,500. That leaves a $2800 balance for direct billed expenses. Can your parents pay THAT? The rest of the cost of attendance is for books and personal expenses…you should be able to earn that much money during the summers and by working during school for about 10 hours a week.</p>
<p>It is possible to cut your personal costs…travel home less or find the least expensive way to get there, buy used books, work on a limited budget for entertainment etc.</p>
<p>Yes, Lehigh is a CSS Profile School
Yes, there is $5500 in loans which was included in the yearly $10,000, because technically does not my parents have to pay for this</p>
<p>As for working in the summer, the money I get goes to a direct deposit into the family’s checkings account</p>
<p>No family business, home equity need some clarification on what that is? If your mean is the house expensive, then yes. </p>
<p>Billed cost of Lehigh is ~$51,000, but with textbooks and personal expenses it comes out to be ~53,000. Now is the meal deal included in this, if not is that another $1000? I am concerned, because I read the average debt of a college student upon graduation is ~$20,000. so to be potentially at $40,000 in debt, while I wish to attend medical school seems a bit too much?</p>
<p>Yes, meals are included in the $51K. It’s odd that you have $10K in loans/gap in your package as this is what Lehigh’s FA policy is (per College Board)</p>
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<p>Anyway, I think you’re going to be hard-pressed to find a similar school that will offer you more aid and you really have a good package. The average student loan debt for more recent grads is higher than $20K…you have to remember that it takes awhile for each cohort to get through college and for the data to be compiled, and costs are increasing all that time. I would not be afraid to take the Stafford loan limits if that’s what you have to do to get a good education. Btw, the Stafford loan is only YOUR loan, not your parents.</p>
<p>I’m a bit concerned about you supporting your family at this time though (if that’s what is going on) and I’m wondering why this is necessary and what they will do when you are away at school and not contributing. I think you’re going to have to redirect a significant portion of your earnings into a savings account for your upcoming college expenses. It may be an unpleasant conversation to have, but you really don’t have a choice unless you expect to get outside scholarships that will make up the difference.</p>
<p>The $5500 Stafford loan is NOT a parent loan…it is a STUDENT loan. You, the student will be taking out that loan, not your parents. They are not responsible for it. So…add $5500 to the $42000, and you get $47500 which is a $2800 shortfall for direct billed expenses. Add to that another $2000 in personal expenses (see my post above…you SHOULD be able to economize there…and also cover a good chunk of this with a job during both the summer and while at school).</p>
<p>What CAN your parents contribute to your college education annually? If they can contribute $2800 a YEAR and you can earn your expense money, this could work for you.</p>
<p>Well the EFC of my family was $1192, so a little under than the $2800 needed. However, as for the student loans would I not have to pay a monthly fee while paying for personal expenses/textbooks? They did also give a $1750 work study, so that helps as for the job on campus. This was the reason why my father filed an appeal as just having a couple more thousand dollars if possible, could greatly help my family out and ease my expenses.</p>
<p>As for sk8rmom, my family income is slightly above the $75,000 mark, however our number of dependents is what causes the need to be so great</p>
<p>Can you tell us exactly what’s in your FA package?</p>
<p>Since you’re now going to be in college, will your parents still expect your income to go to them? Your parents may need to understand that your summer earnings are going to be needed to go towards “day to day” personal expenses that you’ll have at college.</p>
<p>Lehigh’s costs</p>
<p>Out-of-state tuition and fees: $39,780
Room and board (meal plan): $10,520 </p>
<h2>Books and supplies: $1000</h2>
<p>Direct costs…about…$52k per year</p>
<p>Estimated personal expenses: about $1500-2000
Transportation expense: about $750 - 1500 depending on far you live from the school.</p>
<p>*No family business, home equity need some clarification on what that is? If your mean is the house expensive, then yes.
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<p>Are you saying that your home is worth a lot of money?</p>
<p>you don’t make payments on your student loans while in college.</p>
<p>No payments are due on Stafford loans while you’re in college. No interest will be charged on the subsidized ($3500) portion either, or on any Perkins loans that you may be offered. Payments on Stafford loans begin 6 months after you graduate or stop attending at least half-time (9 months for Perkins).</p>
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<p>So why is your income going into their checking account and where is it going from there? My point was that your earnings right now need to be directed into your own checking/savings so that they’re available for college costs when you need them! If your parents are putting that money into a separate account for you then the small difference owed should not be a big concern.</p>
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<p>No…your student loan payments begin six months after you leave college.</p>
<p>So…you have $1750 work study, $5500 in Stafford loans, and $42000 in grants…total being $49250. Your family contribution is listed as $1192…for a grand total of $50442.</p>
<p>What CAN your parents contribute. You are looking at a shortfall of about $2500. I’m not sure there is ANY college that you could attend for $2500 a year. Do your parents plan to contribute to your college costs at all? You need to find out if they can pay even a portion of that $2500. </p>
<p>I feel like I’m missing something in these posts. Lehigh has given you a financial aid package and when you add your family contribution of $1192 to the aid package…this covers ALL of the direct billed costs. All that is left are your PERSONAL expenses. Perhaps your parents will allow you to use $2000 of your income this summer to pay for your books and personal expenses. Ask them.</p>
<p>My financial aid package consists of:
$4500 Federal Pell Grant
$38500 Lehigh Grant? (Forgot what it is called)
$3500 unsubsidized loan
$2000 Subsidized loan
$1750 Work Study </p>
<p>To be honest with you I think my parents are making me put the money in the checkings account so I do not spend it and therefore use it for college. </p>
<p>As for home equity I think that does not play a role in Lehigh’s financial aid? As for transportation Lehigh is an hour to hour an half away, so its not too bad, if I am in drastic need to save money commuting may be an option?</p>
<p>I also applied for the state grants recently and sent in my Fafsa, which was included in the appeal, so is it possible for more grants to come? This financial aid package was based on the CSS profile/</p>
<p>"I feel like I’m missing something in these posts. Lehigh has given you a financial aid package and when you add your family contribution of $1192 to the aid package…this covers ALL of the direct billed costs. All that is left are your PERSONAL expenses. Perhaps your parents will allow you to use $2000 of your income this summer to pay for your books and personal expenses. Ask them. "</p>
<p>I am confused about the student loans, why are they not considered in having to be paid exactly? I would still have to pay $22,000 when I graduate? So are they not factored in when considering how expensive a college is? As for the extra $2000, I may be able to pull off a scholarship, just need to find some local ones.</p>
<p>If your parents have been saving two years worth of your income for you, then you don’t seem to have a need for additional funding…not sure what the big concern is. But, I would strongly advise you to clarify this with them ASAP since your father seems to be concerned as well.</p>
<p>What was your FAFSA EFC? Lehigh has already included most of the federal aid programs - Pell, Stafford, and work study - in your package. If you are a PA resident, you might get a little state aid, but I don’t think PA gives much in the way of grant aid.</p>
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<p>Student loans are financial aid! It’s just not “free” money. I’m puzzled as to why you don’t think you should have to invest in your own education. Don’t you believe that a degree from Lehigh would be worth $20-30K in loans to pay back over a 10 year period?Unless you have a full ride scholarship or an acceptance to one of the very few schools that wouldn’t include loans for a family with a $75K income, you have a very good package.</p>
<p>I would like to think my family has been saving income, but I truly do not know if they can afford letting me have it for college. I realized I just need to talk to my dad about our financial status, he is usually pretty secret about it, but I do not know</p>
<p>Thanks for the help guys, I have been told my best bet is to enroll and hope for the best in a sense</p>
<p>I think that’s probably true, although you need to go to a bank and open your own account as well. Good luck!</p>
<p>OP, this is a very good package and I doubt you’ll find one better, even at one of the few and competitive “no loan” school. If you cannot afford this package, you should consider community college for 2 years.</p>
<p>Yes you will have $22K in loan debt when you graduate. That is the total of the Stafford loan debt. It would be YOUR responsibility to pay these loans back when you leave college. Do you have a problem with this debt? </p>
<p>Your total aid package equals $50250. Add to that the $1192 EFC (the school will NOT give you aid to cover your EFC…this is the amount they expect your family to pay) which brings your total to $51442. That is more than the direct billed expenses for Lehigh. The additional money in their cost of attendance is for books, and personal expenses like transportation. You are looking at less than $2000 PER YEAR for all of this.</p>
<p>Can your parents pay $2000 a year for your college education OR is there enough money in your work savings to do so? Ask them.</p>
<p>I do not believe Lehigh will make an adjustment to your financial aid. Most schools EXPECT students to make some contribution to paying for college. Your shortfall is $2000 for this year…this should be able to be earned at a job during the summer (it sounds like you HAVE a job).</p>
<p>I would like to think my family has been saving income, but I truly do not know if they can afford letting me have it for college.</p>
<p>Well, when you do FAFSA, you have to put down how much your parents have in savings…so if they have been saving your money for you, that will get listed on FAFSA. </p>
<p>*As for sk8rmom, my family income is slightly above the $75,000 mark, however our number of dependents is what causes the need to be so great * </p>
<p>?? Are you certain that all of your dependents are acceptable to FAFSA rules? </p>
<p>Is that family income listed as “parent income”? how much was listed as “student income” Or did you list all income as “parent income” on FAFSA?</p>
<p>Your EFC is quite low for that high of income. Are you saying that you’ve recently submitted your FAFSA?</p>
<p>for a family of 8, EFC would be about $4000…how big is your family?</p>
<p>I was wondering the same thing. With an income of $75,000 a year and only one student in college, it would seem that the family contribution would be much higher than $1192. Either this is a very large family OR there are more than three students in college at the same time.</p>