<p>I see. Thanks MomCat2. I am the “kid” who is hoping to get into Columbia =) Maybe asking about financial aid to a school I have not been accepted to (and probably won’t be accepted to) comes off as arrogant, but I just want to be ready with these aid opportunities.</p>
<p>From what you say, each school is VERY different, is that correct? For all I know, a school may have the Federal EFC and the institutional family contribution, and they may select whichever is higher or whichever is lower, or maybe someplace in between?</p>
<p>I would also want to know…if you are middle class, is financial aid out of the question? If that is true, then it is sort of unfair, since a lot of the “elite” or “prestigious” schools only offer need-baised aid. I have seen some students from well-off famillies get decent financial aid packages, so I was wondering, is this realllllly rare?</p>
<p>college_ruled: Thanks for the advice. I have already applied to so called “safety schools” that I can afford in my state. That would be the worst case senario. I do realize that Columbia is very hard to get into, and that I will most likely get rejected. However, I am asking about aid since their deadline seems to be before the admissions decision, and that is how it seems to be for all my schools.</p>
<p>But yes, I am just trying to figure out how much aid someone like me could expect. I have heard of middle-class famillies recieving decent aid rewards, and wanted to see if that was even possible. Generally what I have heard is that some private schools, especially the “top-ranked” 15 or 20 or so schools are generous in their aid.</p>
<p>I also have a qusetion about Cornell, since they have this Aid Calculator on their website. From their calculator, my expected contribution by Institutional Methodology is $10k less than federal. I guess to find out what I really would expect to pay, I would have to give them a call right? I am afraid if I call them about aid, it will seem like I feel as if I am already guaranteed acceptance, or I may come off as arrogant. I am merely curious about how I will afford college IF accepted…will they get that?</p>
<p>If they really choose the higher of the FM or IM, how do some relatively well of people end up with a private school education (around 50k) to cost close to a state school education (around 35k)?</p>
<p>Regarding financial aid packages, your individual milage will vary. In general, the only federal aid offered to the middle class is loans. Many middle to upper class families do receive institutional aid, but many don’t. If you look at this chart: [Project</a> on Student Debt: What’s the Bottom Line?](<a href=“http://www.projectonstudentdebt.org/ncoa_chart.php]Project”>http://www.projectonstudentdebt.org/ncoa_chart.php) you can see that a financial aid packages for a “typical” family broken down by income and by school, and that need based aid seems to peter out between an income 80k and 160k. Of course, need based financial aid depends on other factors besides income.</p>
<p>Those seem pretty generous…but according to what people here are saying, it seems like my personal situation is worse than what that table says. Like you said, it doesn’t take into account assets, but it doesn’t take into account certain expenses either, right?</p>
<p>The chart takes into account “average” assets and “average” expenses. These posters are warning you of the possibility that if your assets are greater than average that your financial aid package (holding all else equal) will be lower than “average.” Clearly, “generous” need based financial aid happens for middle to upper income families. However, it is not certain that this will be the case for you and your family. </p>
<p>I wouldn’t worry about the different FAFSA and Cornell EFCs because this page: <a href=“https://www.finaid.cornell.edu/apply/faestimator.cfm[/url]”>https://www.finaid.cornell.edu/apply/faestimator.cfm</a> says, “the features of this estimator include: Estimated Family Contribution (EFC) amounts for both the federal and Cornell’s institutional methodology (etc).”</p>
<p>Does that suggest inaccuracy? What do you mean by “I wouldn’t worry about the different FAFSA and Cornell EFCs?” Is the institutional methodology too good to be true? I entered the closest numbers I had into the calculator and obtained that value, so should I treat it as a reasonable estimate?</p>
<p>Does that suggest inaccuracy? What do you mean by “I wouldn’t worry about the different FAFSA and Cornell EFCs?” Is the institutional methodology too good to be true? I entered the closest numbers I had into the calculator and obtained that value, so should I treat it as a reasonable estimate?</p>
<p>Oh my gosh. I double posted…it was freezing and I accidentally posted two. Sorry! If I can delete one, please tell me how, or maybe a mod will come delete it.</p>
<p>I would call Cornell’s financial aid office to see what they say. (I don’t know the specifics of Cornell).</p>
<p>I have no dog in the FA fight, but I really hope lots of people read this thread. It has some great info.</p>