<p>hey, I have a question: are you likely to get a more generous aid package if your family's single income? (only one parent working)</p>
<p>So Yale is just that stingy eh?</p>
<p>"Yale students demand financial aid changes"
<a href="http://www.cnn.com/2005/EDUCATION/02/25/yale.protest.ap/index.html%5B/url%5D">http://www.cnn.com/2005/EDUCATION/02/25/yale.protest.ap/index.html</a></p>
<p>Responding to marina, no, if the incomes are close. Different incomes: different story.</p>
<p>Having a second source of income is good for everything except paying for college. A second income, when paying for college, means you'll simply be spending more of your hard-earned money on tuition. But the education is the same no matter how much you're paying. Yay.</p>
<p>so one of my parents should retire before I apply for college? I'm still sceptical that colleges like Yale really would give enough aid. I know they say they cover 100% of needs, but they're the ones who work out the need...</p>
<p>chyln -- can they adjust your award just like <em>that</em> even in an informal meeting? you must have been very persuasive =)</p>
<p>i will probably go to bulldog days.. should i set up an appt with the aid office ahead of time if i am dissatisfied with my package?</p>
<p>how should I let Yale know if another school gave me more money?</p>
<p>janerdoo and davidrune</p>
<p>you guys should both go to the finaid office during bulldog days or at some other point in time during the spring semester. there is no need for an appointment, at least i didn't make one</p>
<p>stop hating on Yale in the Yale forum, go have a nice chat with Byerly instead.</p>
<p>Does Yale have any particular reputation for financial aid? Good, bad, just mediocre?</p>
<p>I'm the upper-middle-class sister-in-college not-going-to-get-anything kid.</p>
<p>Well, I've heard that it usually isn't as good as Harvard and Princeton, but it's still pretty good.</p>
<p>Still, its hard to justify paying 15 - 20K more a year for college than at another school. This is my situation w/ Dartmouth. Umich gave my 20K a year, and they will actually use my outside money to help ME out, so Mich is looking pretty cheap.</p>
<p>At Dartmouth, my EFC was like 20K, and my outside scholarship money won't reduce the EFC.</p>
<p>Hmmm. pay virtually nothing...or pay 20K a year.</p>
<p>The choice seems clear to me.</p>
<p>I'm an RD'er at Yale, so I don't even know if I got in yet (doubt it very much). But if I do, I hope they do better than D-mouth</p>
<p>My financial aid was a little less generous than I hoped for, but not terrible by any stretch of the imagination. Now I'm just trying to convince my parents that the "Parental Contribution" is labeled "Parental" for a reason and that I shouldn't have to take out loans to cover it. (I think it's working so far...:) )</p>
<p>marina, say if your single parent makes just as much parents of a 4-people family do. Then, you would get less aid because your parent doesn't have to pay for 2 children and 2 adults, he/she only has to pay for 1 child and 1 adult. That's what happened to my friend w/ a single mother. She makes 100,000 a year with no assets at all (except a car, which doesn't even count). Her EFC is 30,000 a year.</p>
<p>I've read that only 5% of savings is taken into account when calculating the EFC, is that true?</p>
<p>Marina_B, that's roughly true. When the EFC calculates you % from assets it has some allowances, albeit small, that you are allowed to factor out, then it's counted 12% ...but the final number is multiplied by 47% - in other words it's almost cut in half - so 5% is a good rough estimate. Note these are assets in the parents name - assets in the student's name are counted at 35% - and this is what can really whack your EFC higher if you have substantial assets parked in your childs name.</p>
<p>okay, thanks for explaining about parent/student assets</p>
<p>My parents wrote the combined assets for my brother and me as MY assets. . . I don't know why they would do that.</p>
<p>Yah, I originally got my letter saing I'd get nothing, maybe a job on campus. But my dad called the fin aid office and had a nice little chat and sorted a lot of stuff out. Our big thing is something known as "phantom income", and if any of you have family owned businesses or own c corporations, then its possible that you have phantom income too. Give the office a call now, you don't have to wait to meet with them in person during bulldog days.</p>
<p>so this article has no meaning at all?
<a href="http://www.collegeconfidential.com/dean/archives/000142.htm%5B/url%5D">http://www.collegeconfidential.com/dean/archives/000142.htm</a></p>
<p>argghhh.... i wish my main concern was financial aid instead of acceptance :(</p>