Very Generous Financial Aid

<p>true, acceptance is paramount because I know that if admitted I'll get a hefty financial aid award</p>

<p>Rune-Didn't you tell me that you typed something in wrong on the FAFSA, like an extra zero or something + they were reexamining your aid?</p>

<p>If that's not the case, you can always go to the big H with me (and how was your Amherst finaid by the way? I got 0, but that wasn't surprising).</p>

<p>Hey Just - yea, they're-examined my aid and they finally gave me money. But it's still very little. Amherst gave me about twice the amount of aid that Yale gave me (with workstudy, loans and self-help... my parents would only pay about half).... and I just got back from visiting it. It's a pretty good school.</p>

<p>I'll see if I get into Harvard and how much aid they give me.</p>

<p>Wow, that's strange that Amherst gave more money than Yale. Glad you had a good visit, and good luck with Harvard.</p>

<p>"true, acceptance is paramount because I know that if admitted I'll get a hefty financial aid award"</p>

<p>How do you know this to be true?</p>

<p>His family might make less than $45,000/year...</p>

<p>Davidrune, very unusual that Amherst would give you a better deal than Yale on financial aid. Maybe they're tired of losing top common admits to HYP and are beginning to take a stand.</p>

<p>How can people negotiate with Yale with other offers from other schools? Honestly, if I got into H and got a likely from Y like Byerly, my dad would do whatever it takes to finance it. I didn't apply for financial aid, but would people choose to not go to Yale because of the aid package?</p>

<p>here is some insight into the madness:
<a href="http://blogs.mit.edu/barkowitz%5B/url%5D"&gt;http://blogs.mit.edu/barkowitz&lt;/a>
This guy makes an effort to answer questions here, at CC.</p>

<p>"but would people choose to not go to Yale because of the aid package?"</p>

<p>Yes. I will go to TCNJ (full tuition) instead if Yale offers a stingy one.</p>

<p>Jasey Chan-You'd be amazed at the blase attitude some parents take towards paying for college. Browse around on the financial aid forums for a while, and you'll see incredible kids whose parents won't even fill out the FAFSA, let alone give them any money for college. If their parents don't support them, it might not be possible to go to an expensive school like Yale, EVEN IF they are willing to bear the burden of extensive loans.</p>

<p>Hey, kind of a random question, but I am a little confused...for the "self-help" portion of Yale's financial aid award, if we go over that amount with the $ of scholarships we have acquired, does Yale start giving us less $ in grants? I heard that somewhere...but wasn't sure.</p>

<p>The way it works w/ outside scholarships is this. First, they cover your contribution (meaning you and your parents). Then, if you still have more scholarships, it covers federal loans/workstudy/institutional aid.</p>

<p>From the "Financing Your Yale Education 2005-2006" booklet admitted students received with our admissions materials:

[quote]
How will my financial aid package change if I receive a merit-based award from an outside source?
Yale policy allows outside merit scholarships to reduce your self-help. Additionally, as federal regulations permit, we will also allow outside scholarships to cover your student income contribution. This means that in 2004-2005 a total of up to $5,850 in outside scholarships could be applied toward your student effort (the total of your self-help and student income contribution). Any amount of outside scholarship that exceeds the student effort component of your award replaces Yale Scholarship.

[/quote]
</p>

<p>That's a much better answer than mine, vivaldi.</p>

<p>Hope it helps.</p>

<p>To be honest, I'm a little annoyed with the policy and wish it had been included in the list of reforms the Yale College Council demanded last month, but I'll deal with it. The price now will pay off in the future.</p>

<p>Thanks you guys! I really should have read my acceptance stuff more carefully lol. Yeah, cuz I already have over 4000 in scholarships...with a couple more thousand almost in hand....so I guess once we go over that 5,850 amount it starts deducting from our Yale aid...sigh....yeah, I really wish they would change that...especially since lots of the money I'm getting is just for first year.</p>

<p>vivaldi + all-I think it works that way for all colleges, part of a federal law regarding finaid or something.</p>

<p>people who get into harvard EA and apply to all other schools are annoying as hell</p>

<p>why is it just harvard?</p>