Washington University Financial Aid

<p>I don't claim to be rich and my parents make a good living for my family, but they can't just take 40k out of their income every single year to pay for my college education...if they made 150k together, with taxes that's about 120k and it's ridiculous to think they should be expected to pay 1/3 of their gross income on one child's college tuition</p>

<p>
[quote]
Since when should college cost a % of your parents income.

[/quote]
It doesn't if you go to a state school, or if you get scholarships. On another note, why should your tax dollars subsidize anything for any person (from state university to highways) - The reality is you can't do anything about it. Go to a state school if you want to live by your philosophy, and redeem the reward of your taxes funding state schools.

[quote]
I don't claim to be rich and my parents make a good living for my family, but they can't just take 40k out of their income every single year to pay for my college education...if they made 150k together, with taxes that's about 120k and it's ridiculous to think they should be expected to pay 1/3 of their gross income on one child's college tuition

[/quote]
That's where college savings comes in....</p>

<p>oncampus...
1. Kids shouldn't be penalized too strenuously for their parents' lack of foresight.</p>

<ol>
<li>Some kids' parents, like mine, have not been making what they're currently making for very long. Less than 5 years ago my parents were making less than half of what they are today. Although it seems like their this year's salary would have been more than enough to save a considerable amount over a period of 18 years, they simply haven't had this source of income for long enough to become established. Hence...supplying only this years' tax forms is somewhat deceiving. That paired with my two younger siblings fast approaching college is tough to manage.</li>
</ol>

<hr>

<p>Now. On the whole..."progressive tuition" issue... I believe that a considerable amount of need-based aid is essential for an institution like WashU. First of all, anyone who is accepted to WashU has considerable merit and whomever WashU decides to grant money to is probably going to be worthy in one way or another.</p>

<p>Next, whether you like it or not, most people are not going to take out substantial loans to go to WashU if they have other good options, (which most do). This makes qualified students reject WashU and contributes to the prep/jock school feel overall...which is repulsive in my opinion, (lol...yeah public schools!).</p>

<p>Finally, college tuition shouldn't be about the amount you give; it should be about the amount you give up. Essentially, this means that although some upper class and some lower class families alike will struggle to put their kids through WashU, everyone should have to sacrifice the same. As I said before, you shouldn't be penalized as a student if your parents aren't as well off as others' are. (Gah, at least in terms of college tuition. It's not like they aren't being disadvantaged in like...every other real-life situation.)</p>

<p>Basically...equal sacrifice, not equal pay. Mark 12:41-44. Kind of the same principle...regardless of your religion.</p>

<p>note...lol...this is such a conservative vs. liberal issue...guess where I'm standing, ha!</p>

<p>...Obama '08!</p>

<p>
[quote]
1. Kids shouldn't be penalized too strenuously for their parents' lack of foresight.

[/quote]
And I don't believe that the FAFSA (or CSS profile) penalizes for that, as it takes into consideration both income and savings. If your parents are making $80,000 in salary, but have a number of times that in savings, don't expect to have the same aid as someone with $100,000 income, but next to no savings. I was just clarifying that parents aren't forced to spend X% of their income, and that savings can go a long way towards college expenses. Maybe parents taking home $120,000 a year can't "afford" to part with $45,000 a year from their salary, but maybe they could stash away $8000 a year for 10 years, and after interest/gains, have enough to cover two years of private college, and be able to afford whatever else is needed.</p>

<p>I don't see what we're getting caught up in. Need based aid is supposed to provide for an "equal" opportunity - as best they can- to go to college. How is a family making 18k a year (my boat) supposed to finance a 50k tuition a year? Its not possible. Do me a favor jclay2 and realize that its not a matter of stealing money from equally qualified kids, but making premier universities affordable with limited funds.</p>

<p>my parents have not been saving for college and the only savings they have are retirement money that cannot just be used for college</p>

<p>either way, WashU gave me an additional $10,000 after I provided more info.</p>

<p>yeah...umm, wash was pretty good about giving me money. :) thank goodness, my state has some of the worst in-state schools</p>

<p>They were originally going to give me no scholarships, only work study and some loans. I personally went to their financial aid office and talked to someone, and now I am getting almost $20,000 in scholarships. And I don't have any special circumstances, except for the fact that my EFC is ****ing ridiculous.</p>

<p>kindofblue, who did you talk to? the dean? I begged and only squeezed $10,000 more out of them which isn't really enough. I have a feeling they kind of blew me off b/c I did it over the phone and e-mail b/c I can't afford to go visit and beg in person!</p>

<p>SSeRRANO - Don't know if you have seen the following change in WashU financial aid policy "Beginning in fall 2008, both entering freshmen and returning full-time undergraduate day-school students with parental incomes of less than $60,000 will not be expected to take out need-based loans and will instead receive grants from the university that will not have to be repaid. Families with parental income somewhat higher than $60,000 also may receive additional student loan relief based on demonstrated need and their financial circumstances. Link to complete story is as follows: WUSTL</a> to expand financial aid for low-income families</p>

<p>I talked to some counselor in the office.</p>

<p>ST2....thanks for that...but I wonder why they didn't put that in my aid package...because my mother makes less than 60,000, but we still got 5000 in loans...(not that im complaining THAT much...i still got much more than i thought i would, but still...)</p>

<p>LizziePoo- I would call and ask. My mom was talking to financial aid with some questions about a scholarship I received and the guy said I would be getting a new aid package without loans soon (even though the original one had no loans anyway). My guess is that they may have made some packages up before their new policy was in place. It's worth a shot to try and get more money if you qualify for it : )</p>

<p>LizziePoo - You should absolutely call financial aid. The policy I refered to was just implemented towards the end of February, so it is possible that it is not reflected in the financial aid info previously sent out.</p>

<p>DD has received $2500 NMS. If I read WashU's policy correctly, they will continue that for the next three years. However, I don't know if this $2500 will effect the FA package any other way.</p>

<p>Jalexis
I did contact the financial aid staff, and guess what they told me...."We have strict policies..."</p>

<p>p<em>hp</em>fan
I'm in the same situation as you are and I completely agree with what you said. I think the problem with FAFSA and all is that they don't take into account how long your family has been making the figure they're making. We lived poor for most of our lives, and my parents haven't been working and saving for long. FAFSA doesn't take any of that into account. </p>

<p>oncampus
umm, no. my parents have near to nothing in savings, and WashU DEFINITELY did not take that into account.</p>

<p>razzlegrl - I meant that the FAFSA asks for savings/investments information, so that should be figured in, though maybe not enough...</p>

<p>@Dad II</p>

<p>WashU's financial aid policy in the little pamphlet called "Understading your Financial Award" (or something like that) clearly states that the amount of outside scholarships you receive does not affect the money that the University gives you unless the amount exceeds the total cost of attending.</p>

<p>That's how I understood the policy to work.</p>

<p>Please tell us all about it. </p>

<p><a href="http://talk.collegeconfidential.com/financial-aid-scholarships/480180-colleges-have-given-you-disappointing-financial-aid-offers.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/financial-aid-scholarships/480180-colleges-have-given-you-disappointing-financial-aid-offers.html&lt;/a> </p>

<p>It's important to a lot of families to get a reality check on where the best financial aid is.</p>

<p>I checked my offer again, and they replaced the loans with grants :)
Full ride!! :D</p>