Anonymous wrote:

Anonymous wrote:Why would you ask for FA at 500k??

That's the whole point of the question! We were told that, regardless of income level, families are supposed to check "yes" for financial aid. Presumably to reserve the right to ask for it if your circumstances change - maybe?! But now that it's done, it seems odd. And, no, we are not submitting any paperwork to actually, formally ask for financial aid.

Yeah, you got some bad advice. Tell them that you will not be applying for financial aid, ASAP.

Please, don't ask for FA if you make 500k/yr. Offensiveness aside, I think you are hurting your child's chances.

Anonymous wrote:Why would you ask for FA at 500k??

That's the whole point of the question! We were told that, regardless of income level, families are supposed to check "yes" for financial aid. Presumably to reserve the right to ask for it if your circumstances change - maybe?! But now that it's done, it seems odd. And, no, we are not submitting any paperwork to actually, formally ask for financial aid.

Why would you ask for FA at 500k??

Anonymous wrote:The advice we had was to fill out "yes" to "will you be applying for financial aid?" However, my hesitation is that there is just no way we would qualify -- or even feel comfortable taking FA b/c our household income is in the upper $500k range. I'm feeling like the advice we got was bad but am not sure how to handle.

If I were you I would mark no -- if you've already submitted the application, I'd drop them a note and say that your circumstances have changed and you'll no longer be applying for FA. It can absolutely make a difference. And in the upper $500k, no, you won't get any, so why not let them know that up front where it can do you some good?

The advice we had was to fill out "yes" to "will you be applying for financial aid?" However, my hesitation is that there is just no way we would qualify -- or even feel comfortable taking FA b/c our household income is in the upper $500k range. I'm feeling like the advice we got was bad but am not sure how to handle.

Anonymous wrote:If you decide not to apply for FA, just drop a note to the admissions director.

Whether or not that is taken into account for admissions decisions likely depends on the school. Obviously not everyone would be offered financial aid, but it may be offered for higher-income families than you imagine.

Agree that you can always notify them that you are not asking. I do think that schools are mainly "need aware" and not "need blind" -- they just don't have the resources to be the latter. Your scenario -- on the bubble as to whether you'd qualify -- is very different from someone who wants to game the system by getting admitted without FA and then asking for it later (I can't imagine this happens that much, though). My sense is that schools consider their financial aid on a yearly basis, so I don't think you would be "locked out forever" if in a later you you wanted to apply for FA. Whether or not they'd have the money to fit you in as an existing family would of course depend.

If you decide not to apply for FA, just drop a note to the admissions director.

Whether or not that is taken into account for admissions decisions likely depends on the school. Obviously not everyone would be offered financial aid, but it may be offered for higher-income families than you imagine.

Is it true that a family is expected to ask for financial aid as a standard part of the application? I've heard this advice from our school and educational consultants in large group settings. Basically, the advice seems to be, "check the yes box" requesting financial aid on the applications in order to preserve the right to ask for financial aid.

I don't think we would qualify for financial aid, but I've checked the box as a result of this advice. Now, I'm not so sure it was the right thing to do. I don't think we'll even follow through and fill out the real financial aid documents. Do you think this will impact the application? Thoughts?