|By Evil_Robot (Evil_Robot) on Friday, August 15, 2003 - 06:08 pm: Edit|
I am considering applying EA to Yale (my clear top choice) and thus am filling out my application now. The problem is, there's no way I can afford Yale unless they give me a substantial need-based aid, and according to some forms my parents filled out, we qualify for none (how the do they expect us to pay 40,000 a year on a 80,000 income with both parents working and wanting to retire in any reasonable time?). My parents have hired a college counselor and she says that I should NOT apply EA to Yale, because it would lower my chances for merit aid at other schools that DO offer merit aid (i.e. the UCs, Vanderbilt, Carnegie Mellon, etc). Is there any truth to EA being able to hurt your award at another school? Do they even share that kind of information? Should I be hopeful that Yale awards me some sort of package?
|By Serene (Serene) on Friday, August 15, 2003 - 06:13 pm: Edit|
How would other schools know you have applied EA to Yale? *incredulous*
just wondering what forms did your parents use to calculate EFC?
|By Evil_Robot (Evil_Robot) on Friday, August 15, 2003 - 06:27 pm: Edit|
Well, they figure it's sorta like ED in that it's SINGLE CHOICE EARLY ACTIOn, so they have to make sure you didn't do EA anywhere else. I figured that, even if they did that, they would only send my name to the other Ivys (which wouldn't give me merit aid anyway) and so I'd be fine. But they say there could be a chance I would lose money at the UCs or the other merit-aid giving schools I mentioned.
And about the forms, I think it was an old FAFSA. The college counselor used her own formula to calculate my estimated need-based aid. But I'm not quite sure she's accurate, given that she's mainly dealt with California schools and not the Ivys (she didn't know a whole lot about applying to them). So maybe any of you accepted Ivy students can tell me if the Ivys tend to give reasonable need-based aid to their middle class acceptees? Because my dad is VERY convinced that they don't and that we're going to get screwed.
|By Bitz (Bitz) on Friday, August 15, 2003 - 10:54 pm: Edit|
The hired couselor seems to be either a fraud or an idiot. Either way, with an $80,000/year gross (pre-tax) income, you will almost definitely qualify for need-based aid. Also, applying EA to Yale will not affect merit offers from other schools AT ALL. Your counselor may be thinking that applying EA to Yale would preclude you from applying ED to CMU (or any of the others) and then the lack of expressed interest in CMU would make them think twice about offering merit aid. While it is true that you could not apply to any other early program if you applied to Yale EA, applying ED to CMU may actually lower your chances at merit aid since they have no reason to try to tempt you to come (since you would have to come if accepted). The amount of need-based aid (contrary to public opinion) is generally unaffected by ED applications (only the form - as is higher percentage of loans/self-help aid - is usually affected), but merit aid is quite different. Applying RD may actually increase your chances for merit aid. Basically, the point of this post is to tell you to calm down, you'll be fine, and dump the counselor if you can. You may be better off alone and would definitely be better off with a more knowledgeable person helping you on your path.
|By Evil_Robot (Evil_Robot) on Saturday, August 16, 2003 - 01:52 pm: Edit|
Well, alright. The counselor seems to be pretty smart at financial aid; she just doesn't know anything about admissions. And besides, not like I have the power to fire her :-P.
Thank you for reassuring me about my decision to do EA to Yale!
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