IN AT UPENN

Share Your Experiences, Read About Other Experiences. Please keep posts organized by school and expected year of graduation.
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law_monkey
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Re: IN AT UPENN

Postby law_monkey » Mon Mar 21, 2011 5:09 pm

Just got the email about the site being corrected. All my stuff is the exact same as it was this morning. No more merit aid; no more loan info. So basically that was all pointless. :?

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slax
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Re: IN AT UPENN

Postby slax » Mon Mar 21, 2011 5:15 pm

Excellence = a Habit wrote:
slax wrote:From the admitted students site:

Round 1.

Some, although not all, of you have received an email linking you to our Financial Aid site. There you will find information concerning need-based awards, merit awards, and federal loans. And more as the months go by.

I have, however, already fielded some phone calls and emails (and I am rarely brave enough to tackle the financial aid phoneline). So, some answers/insight:

Emails are going out by alphabetical and acceptance order as we finalize our need-based analysis.

We started sending out emails today, but only to some admitted students; at least half of you have yet to hear. We expect more notifications to go out over the next 7 days. If you were admitted prior to March and applied for need-based aid/federal loans by early March, be on the lookout.

And please be patient! Our deposit deadline is April 29, our Admitted Students Weekend is next week, our final event is April 9: a lot can (and will) happen in the next month. This includes merit-based reevaluations.

In the meantime, go outside - particularly if you're anywhere on the East Coast.

Posted by Bayrex Marti on March 17, 2011 | Comments (0


I was totally confused by this last line until I saw that the timestamp was from Friday.



+1

sarahlawg
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Re: IN AT UPENN

Postby sarahlawg » Mon Mar 21, 2011 6:06 pm

slax wrote:From the admitted students site:

Round 1.

Some, although not all, of you have received an email linking you to our Financial Aid site. There you will find information concerning need-based awards, merit awards, and federal loans. And more as the months go by.

I have, however, already fielded some phone calls and emails (and I am rarely brave enough to tackle the financial aid phoneline). So, some answers/insight:

Emails are going out by alphabetical and acceptance order as we finalize our need-based analysis.

We started sending out emails today, but only to some admitted students; at least half of you have yet to hear. We expect more notifications to go out over the next 7 days. If you were admitted prior to March and applied for need-based aid/federal loans by early March, be on the lookout.

And please be patient! Our deposit deadline is April 29, our Admitted Students Weekend is next week, our final event is April 9: a lot can (and will) happen in the next month. This includes merit-based reevaluations.

In the meantime, go outside - particularly if you're anywhere on the East Coast.

Posted by Bayrex Marti on March 17, 2011 | Comments (0



hmmm thanks for posting this. I want to send them out my other offers, so this is good to hear. I can't wait until April 29th though =/

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Excellence = a Habit
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Re: IN AT UPENN

Postby Excellence = a Habit » Mon Mar 21, 2011 6:13 pm

law_monkey wrote:Just got the email about the site being corrected. All my stuff is the exact same as it was this morning. No more merit aid; no more loan info. So basically that was all pointless. :?


Awww man that's lame :/

eaa1537
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Re: IN AT UPENN

Postby eaa1537 » Mon Mar 21, 2011 6:13 pm

can someone please summarize what's going on for me :oops:

I haven't gotten an email yet, does that mean there is no way for me to check if I've gotten an offer? I sent my competing offers last week so maybe they haven't had time to review those yet? Although I was passed up for the levy, so Penn is not doing too hot in my book right now... :evil:

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Excellence = a Habit
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Re: IN AT UPENN

Postby Excellence = a Habit » Mon Mar 21, 2011 6:16 pm

eaa1537 wrote:can someone please summarize what's going on for me :oops:

I haven't gotten an email yet, does that mean there is no way for me to check if I've gotten an offer? I sent my competing offers last week so maybe they haven't had time to review those yet? Although I was passed up for the levy, so Penn is not doing too hot in my book right now... :evil:


Yes, it does mean there's no way to check yet. It could be that they're reviewing your competing offers, or it could be a late acceptance date (after February, I think), or theoretically it could be your name's placement in the alphabet. At any rate, you will eventually get an email that will tell you about aid one way or another (even if you didn't get anything). Good luck!!

pereira6
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Re: IN AT UPENN

Postby pereira6 » Mon Mar 21, 2011 8:42 pm

I like how the school I am most excited about at any given point is the school that gave me the most recent information.

I'm way too excited about Penn right now haha

lolok
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Re: IN AT UPENN

Postby lolok » Mon Mar 21, 2011 8:50 pm

I posted this in the other thread--got a Wilson scholly from Penn last week and immediately sent in a competing (higher) UVA offer to the scholarships@upenn address. I got an e-mail back from the director of FinAid, he said they are still in the process of reviewing the entire applicant pool for scholarship consideration and won't be able to increase current awards until this was complete--"We should have more information by the second week of April."

hope that helps...I didn't get an e-mail today either if it means anything

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 8:57 pm

pereira6 wrote:I like how the school I am most excited about at any given point is the school that gave me the most recent information.

I'm way too excited about Penn right now haha


So are you pretty set on coming?

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 8:59 pm

lolok wrote:I posted this in the other thread--got a Wilson scholly from Penn last week and immediately sent in a competing (higher) UVA offer to the scholarships@upenn address. I got an e-mail back from the director of FinAid, he said they are still in the process of reviewing the entire applicant pool for scholarship consideration and won't be able to increase current awards until this was complete--"We should have more information by the second week of April."

hope that helps...I didn't get an e-mail today either if it means anything


So would you take the UVA offer over the less money here?

You got NYU too right? Would you take that over money at V/P? Congrats on the Wilson!

lolok
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Re: IN AT UPENN

Postby lolok » Mon Mar 21, 2011 9:08 pm

I don't know if I would take UVA with more money over Penn with less. I'm hoping Penn will up my scholarship so I won't have to make the decision :wink:

As for NYU, they haven't given me any scholly information, and if they don't give me anything (or give me something small) I probably won't go there. Not trying to ignite a TLS firestorm by going against conventional wisdom or anything, but I'm not sold on the idea that NYU is a better school than Penn outside of NYC...since I'm not sure where I want to be after graduation, it seems stupid to pay more for a slightly better chance at a market I'm not even sure I will be targeting.

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 9:14 pm

No firestorm, this is the Penn thread :) I like the multiple 3 year dual degree options.

Did you go to UVA open house?

pereira6
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Re: IN AT UPENN

Postby pereira6 » Mon Mar 21, 2011 9:16 pm

r6_philly wrote:
pereira6 wrote:I like how the school I am most excited about at any given point is the school that gave me the most recent information.

I'm way too excited about Penn right now haha


So are you pretty set on coming?


Definitely not, but that's because I need to see all the schools. I have no personal connection with any particular region, so these visits will be huge for getting good or bad vibes.

That said, it's basically UPenn at 160k, Vanderbilt at 105k, UCLA at ~100k, or Illinois at 60k.

My big questions: What happens if I strike out at UPenn and have to get a 60k private firm job? Will the 160k of debt cripple me so badly that I will have trouble starting a family life comfortably? What are the chances of that happening (I'm a confident guy and I have the work ethic for long days each and every day, but the 'what if' needs to be considered)? Is it worth risking that possibility for my aspirations for NYC biglaw? Can Vanderbilt get me where I want to be? Can UCLA? Can Illinois?

These are all things that I will of ask in a separate "ask the wonderful citizens of TLS" thread after my visits, but that's basically where I'm at right now. Of course, any feedback now is always welcome :)

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 9:22 pm

160k debt on IBR with 60k income is $545 per month. That's a car payment. You will be fine on IBR.

I think the chance for biglaw is much smaller at Vandy/UCLA, it isn't worth avoiding 60k debt over.

pereira6
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Re: IN AT UPENN

Postby pereira6 » Mon Mar 21, 2011 9:27 pm

r6_philly wrote:160k debt on IBR with 60k income is $545 per month. That's a car payment. You will be fine on IBR.

I think the chance for biglaw is much smaller at Vandy/UCLA, it isn't worth avoiding 60k debt over.


I keep hearing rumors that IBR will come crashing down at some point before we graduate though. I will obviously do extensive research on this in communication with the actual schools themselves, but what do you know about it? As far as I'm concerned, you're as good as if not better than any school advisor haha

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 9:35 pm

pereira6 wrote:
r6_philly wrote:160k debt on IBR with 60k income is $545 per month. That's a car payment. You will be fine on IBR.

I think the chance for biglaw is much smaller at Vandy/UCLA, it isn't worth avoiding 60k debt over.


I keep hearing rumors that IBR will come crashing down at some point before we graduate though. I will obviously do extensive research on this in communication with the actual schools themselves, but what do you know about it? As far as I'm concerned, you're as good as if not better than any school advisor haha


My midterm for policy development was a research paper on Obama's higher education reform policy, which brought about the change the direct loans and expanded IBR. Through my analysis, I don't believe (of course I could be dead wrong) that the HE reform would be repealed. Part of this confidence is supported by the fact that making college more affordable had bipartisan support. Increasing Pell Grants was initiated by Bush administration, Obama took it a step further by adding in loan reform. The Fed is saving money by taking the loans direct, and I sincerely don't think they are going to put recent grads underwater.

I chose that subject for my midterm because of TLS' fear of IBR crashing.

Personal opinion - if they eventually phase out IBR, they would honor it for all loans originated when IBR was in place.

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The Gentleman
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Re: IN AT UPENN

Postby The Gentleman » Mon Mar 21, 2011 9:45 pm

Well Penn... you almost gave me heart attack earlier today when my financial aid package didn't show any scholarship info. Maybe you can make it up to me with the free food at ASW? :mrgreen:

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 9:47 pm

The Gentleman wrote:Well Penn... you almost gave me heart attack earlier today when my financial aid package didn't show any scholarship info. Maybe you can make it up to me with the free food at ASW? :mrgreen:


So what did you end up getting?

Food's going to be free Thurs night and Friday/Sat lunch. Food usually free at events.

pereira6
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Re: IN AT UPENN

Postby pereira6 » Mon Mar 21, 2011 11:42 pm

r6_philly wrote:
pereira6 wrote:
r6_philly wrote:160k debt on IBR with 60k income is $545 per month. That's a car payment. You will be fine on IBR.

I think the chance for biglaw is much smaller at Vandy/UCLA, it isn't worth avoiding 60k debt over.


I keep hearing rumors that IBR will come crashing down at some point before we graduate though. I will obviously do extensive research on this in communication with the actual schools themselves, but what do you know about it? As far as I'm concerned, you're as good as if not better than any school advisor haha


My midterm for policy development was a research paper on Obama's higher education reform policy, which brought about the change the direct loans and expanded IBR. Through my analysis, I don't believe (of course I could be dead wrong) that the HE reform would be repealed. Part of this confidence is supported by the fact that making college more affordable had bipartisan support. Increasing Pell Grants was initiated by Bush administration, Obama took it a step further by adding in loan reform. The Fed is saving money by taking the loans direct, and I sincerely don't think they are going to put recent grads underwater.

I chose that subject for my midterm because of TLS' fear of IBR crashing.

Personal opinion - if they eventually phase out IBR, they would honor it for all loans originated when IBR was in place.


You, sir, may have singlehandedly swung the decision in favor of UPenn. If it indeed is affordable in all situations, I have to go, right?

Can I ask where you got the $545 figure from though? And, won't my outstanding debt affect other things such as mortgages?

r6_philly
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Re: IN AT UPENN

Postby r6_philly » Mon Mar 21, 2011 11:51 pm

pereira6 wrote:
You, sir, may have singlehandedly swung the decision in favor of UPenn. If it indeed is affordable in all situations, I have to go, right?

Can I ask where you got the $545 figure from though? And, won't my outstanding debt affect other things such as mortgages?


http://studentaid.ed.gov/PORTALSWebApp/ ... fRepay.jsp

Try out the different plans.

As for credit/mortgage, they usually calculate your monthly gross income, and calculate your buying ability by subtracting other debt service payments. So if you are paying $5-600 a month, it isn't a huge deal. So in case you end up 50-60k salary, just watch what other debt you get into, you should be good once you build your credit a while, and have plenty of cushion. Hopefully you would also get married and have a 2nd income.

But if you make biglaw then things are a bit easier. Choose the extended/graduated plan, live wisely, save with a purpose and invest smartly, you will do great.

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jpk5372
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Re: IN AT UPENN

Postby jpk5372 » Tue Mar 22, 2011 9:23 am

please show me some love today Penn!!

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absolutazn87
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Re: IN AT UPENN

Postby absolutazn87 » Tue Mar 22, 2011 9:28 am

jpk5372 wrote:please show me some love today Penn!!

+1!!!!!

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Excellence = a Habit
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Re: IN AT UPENN

Postby Excellence = a Habit » Tue Mar 22, 2011 9:35 am

Okay, so how does this negotiation thing go? Here's what I've got, in short hand:

"Thanks so much for my aid offer. I very much would like to attend Penn for reasons X, Y and Z. However, because of my strong commitment to entering public interest law, student debt is a huge issue for me. I just wanted to let you know about a scholarship offer I've received from Peer School X. Their offer letter is attached."

Am I missing any points?

Good luck today azn (And jpk)!!

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jpk5372
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Re: IN AT UPENN

Postby jpk5372 » Tue Mar 22, 2011 9:42 am

Excellence = a Habit wrote:Okay, so how does this negotiation thing go? Here's what I've got, in short hand:

"Thanks so much for my aid offer. I very much would like to attend Penn for reasons X, Y and Z. However, because of my strong commitment to entering public interest law, student debt is a huge issue for me. I just wanted to let you know about a scholarship offer I've received from Peer School X. Their offer letter is attached."

Am I missing any points?

Good luck today azn (And jpk)!!


Thanks! Good luck with negotiating and let us know how it goes!!!!

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Excellence = a Habit
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Re: IN AT UPENN

Postby Excellence = a Habit » Tue Mar 22, 2011 10:11 am

jpk5372 wrote:
Excellence = a Habit wrote:Okay, so how does this negotiation thing go? Here's what I've got, in short hand:

"Thanks so much for my aid offer. I very much would like to attend Penn for reasons X, Y and Z. However, because of my strong commitment to entering public interest law, student debt is a huge issue for me. I just wanted to let you know about a scholarship offer I've received from Peer School X. Their offer letter is attached."

Am I missing any points?

Good luck today azn (And jpk)!!


Thanks! Good luck with negotiating and let us know how it goes!!!!


I sure will!




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