I’m a senior at a high school in Mobile, Alabama. I have a 30 ACT, 4.1 weighted GPA, and I’m extremely politically active, so my extracurriculars are pretty top-notch. I applied to Barnard ED and will receive notification from them on December 12th. I interviewed with an alumnus and it went really well, and overall, I feel good about getting accepted. However, even if I am accepted, the financial aid package is going to be the deciding factor (as it is for many families).
Here’s a breakdown of my situation: My father has a net income of $146,000 per year. My parents divorced in August 2015. They did not go through the courts; they had an “amicable” divorce, so to speak. Since August 2015, my dad has paid my mom $2400 a month ($28,800 per year) in what is called “alimony-in-gross.” They technically have joint custody; however, on the CSS profile and FAFSA, my father is considered the custodial parent because I primarily live with him and am completely financially dependent on him.
My father has to pay this money to my mom for the next 13 years regardless of her marital status. They also agreed that they could not claim it on the tax documents; therefore, that $2400 per month is not recorded on any information on the FAFSA or CSS (with the exception of the “special circumstances” portion of the CSS in which he described what’s going on). Barnard required both of these forms as well as additional tax documents from my mother and father.
Our current EFC is around $45,000 from doing the Barnard net price calculator, CSS profile, and FAFSA. We can’t afford to pay this much per year. I have $20,000 set aside for me from my grandfather that I am more than willing to use to fund my college expenses, and I am also willing to take out a maximum of $20-25k in loans. We can afford to pay, at most, $20k per year for college flat-out.
I’ll also add that my mother chooses not to work and therefore chooses not to contribute anything toward my college expenses. So her income is nothing more than the money my dad gives her, which isn’t enough to produce a legitimate EFC from her regardless (to my understanding).
I know nobody can give me a concrete answer because obviously none of you work at Barnard’s Financial Aid Office, but I guess I’m just asking from others’ personal experiences. Will Barnard take into account the $2400 my dad pays my mom per year? If so, wouldn’t that essentially mean that they would subtract that amount ($28,800) from our net income (or our EFC)? If that’s the case, we can absolutely afford for me to attend Barnard because $45,000-$28,800 is under $17k per year. And I know that won’t be exact, but even if it was $25k per year, that would be fine as well.
Again, we described the circumstances in the CSS “special circumstances” portion, and we also sent a letter to Barnard a few days after I submitted my ED application explaining the situation and offering to provide documentation (the divorce decree) as evidence of our situation. Barnard responded immediately and said they would put the letter in my financial aid profile, which I saw through my portal that they did. But they have not yet asked for the divorce decree. Is there any reason why Barnard would decide to not take the money into account? From my understanding, the financial aid package and acceptance letter are supposed to arrive on the same day, but I’ve been told my several people (as well as the alumnus whom I interviewed with) that they probably wouldn’t do anything about it until after I’m accepted anyway. Any insight provided onto this topic would be extremely helpful. I am IN LOVE with Barnard. I firmly, 100% believe that it is where I’m meant to be, so this thought is on my mind every day as I anticipate my decision letter on the 15th.
Thanks in advance!
SIDE NOTE: Are my chances of getting better financial aid increased whatsoever by being in the ED pool? Or does it matter?