Financial status an issue in admissions?

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Discus: What Are My Chances?: August 2004 Archive: Financial status an issue in admissions?
By Namronthedon71 (Namronthedon71) on Monday, August 09, 2004 - 01:35 pm: Edit

my father has not had a job in several years and as such my mother's income is the family income. my mother is a restaurant manager and makes approximately $40,000 a year. i know the admissions process is "need blind," but really, will this be an issue?

i posted my stats under another thread (private colleges/universities....), but here is a brief overview:

unweighted gpa: ~3.90

sat i: verbal 760
math 770

sat ii: writing 770
u.s. history 730
math iic 790

you might be wondering why i wish to attend college out of state (as i expressed in my previous thread) if cost will be an issue. cost will be an issue, of course, but my parents have told me they will send me wherever i want to go. plus, we own our house (no mortgage), and it is a decent house at that (the price of homes in the bay area is ridiculous). by no means am i poor. i consider myself to be very middle class and have never gone hungry or anything like that. just wondering if the family income thing will be an issue. thanks.

By Namronthedon71 (Namronthedon71) on Monday, August 09, 2004 - 01:40 pm: Edit

you know, the funny thing is, my mom recently started managing two restaurants, an added responsibility which has brought with it added pay. now her annual salary is $40,000, but prior to her semi-new job she had always told me her salary was $40,000. i guess she was just trying to hide it from me. :)

By Namronthedon71 (Namronthedon71) on Monday, August 09, 2004 - 01:54 pm: Edit

then again, considering my family's financial situation, am i being foolish and/or selfish in wanting to attend a private school?

By Namronthedon71 (Namronthedon71) on Monday, August 09, 2004 - 01:57 pm: Edit

i have no qualms with attending a state school, which is why i will be applying to the ucs. i just thought college would be an opportunity for me to experience a different part of the country.

By Vsage3 (Vsage3) on Monday, August 09, 2004 - 02:12 pm: Edit

It won't be an issue with admissions but it may be an issue as to whether you will be able to attend with your financial situation given the aid you receive.

By Namronthedon71 (Namronthedon71) on Monday, August 09, 2004 - 03:05 pm: Edit

alright nevermind guys. i found an earlier thread that pretty much answers my question.

By Namronthedon71 (Namronthedon71) on Monday, August 09, 2004 - 03:16 pm: Edit

and nevermind about that selfish part. that is for me to decide.

By Northstarmom (Northstarmom) on Monday, August 09, 2004 - 05:17 pm: Edit

Admissions at most colleges are not need blind. Admissions are need blind only at some of the country's top colleges. Some colleges will turn down students who have a lot of financial need. Other colleges may accept the students, but may give them $20 k or less in aid than they need or may expect the students to take out a total of $80 k in loans.

Check the financial aid and admissions web pages at colleges you're considering, and you'll get helpful info. Also ask on the boards about specific colleges.

Your income actually is very low to be applying to Ivies. When it comes to probably H,P, Y, your low income will be in advantage in that they get relatively few low income candidates. H, P especially have wonderful aid (i.e. mainly grants, little or no loans) for candidates whose family incomes are like yours.

Unlike what is the case for probably the majority of schools in the country, when it comes to H, P and possibly Y and other Ivies and elites, your low income could be a factor helping tip you in for admissions. Of course, don't count on admissions. Getting into such schools still means long odds even though how to attract low income students is the hot issue at the elite colleges right now.

By Liek0806 (Liek0806) on Monday, August 09, 2004 - 09:48 pm: Edit

with your stats you qualify for merit aid from privates, why dont you look at usc ? but either way isn't there that thing from harvard where basically if your fam makes less than 50 k you'll get a full ride?

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