NEED HELP FROM HARVARD STUDENTS

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
nonprofit-prophet
Posts: 844
Joined: Sun Oct 04, 2009 11:10 am

NEED HELP FROM HARVARD STUDENTS

Postby nonprofit-prophet » Wed Jul 11, 2012 12:53 pm

I got admitted as a transfer applicant yesterday and only have a few days to make a decision. I went to submit my parents tax returns to get my financial aid award, but I discovered that my idiot parents have gotten extensions for 2 years and haven't filed taxes since 2009. I called financial aid and they said they can't estimate my grant amount without current taxes and would only award me loans until my parents have completed their returns.

Since I need to make a decision on the acceptance, and would hate to do so blind, I was hoping someone could PM me info about their (or their friends') grant award based on combined parental income of less than 60k and less than 80k. I'm not exactly sure how much they make, but it's in that ballpark.

Thanks so much!

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: NEED HELP FROM HARVARD STUDENTS

Postby CanadianWolf » Wed Jul 11, 2012 1:37 pm

Not a student, but I suspect that your award should be substantial unless there are other significant assets (such as rental properties & real estate not held by a qualified retirement plan).

P.S. My understanding is that your parents need to complete & file the tax returns in order to be eligible for financial aid.

nonprofit-prophet
Posts: 844
Joined: Sun Oct 04, 2009 11:10 am

Re: NEED HELP FROM HARVARD STUDENTS

Postby nonprofit-prophet » Wed Jul 11, 2012 1:40 pm

CanadianWolf wrote:Not a student, but I suspect that your award should be substantial unless there are other significant assets (such as rental properties & real estate not held by a qualified retirement plan).


Yea I keep hearing they are generous but I don't know what that means. Are we talking 30k off sticker, 60k off sticker?

AllTheLawz
Posts: 369
Joined: Mon Jun 25, 2012 11:20 pm

Re: NEED HELP FROM HARVARD STUDENTS

Postby AllTheLawz » Wed Jul 11, 2012 1:47 pm

nonprofit-prophet wrote:
CanadianWolf wrote:Not a student, but I suspect that your award should be substantial unless there are other significant assets (such as rental properties & real estate not held by a qualified retirement plan).


Yea I keep hearing they are generous but I don't know what that means. Are we talking 30k off sticker, 60k off sticker?


Max grant aid this year is about $33,600 for a single student. If combined income is less than 60k you will get something around that.. Can't say for certain what grant aid on $80k combined would be. Need-based aid is recalculated each year but they use a standard formula so you dont really have to worry about being tricked.

It is possible to get parental info waivers in extraordinary circumstances. Not sure if "parents wont do taxes" qualifies but with good documentation it might be possible.

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: NEED HELP FROM HARVARD STUDENTS

Postby CanadianWolf » Wed Jul 11, 2012 1:52 pm

My impression is that a simple refusal to file won't qualify as an exception.

80K should produce a generous award.

P.S. Best to discuss your situation directly with Harvard Admissions/Financial Aid.




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