Negotiating scholarships works!!!!!

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DaftAndDirect
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Re: Negotiating scholarships works!!!!!

Postby DaftAndDirect » Fri Mar 02, 2012 11:11 am

gilkile wrote:How does one go about asking for a living stipend? I have already received a full scholarship. How should I ask? I don't want to sound obnoxious.

I was thinking that because I have another full scholly offer from a school where I can live at home, I can ask them if they can help me with the additional cost of attending their school, where I would incur more living expenses.

Thoughts?


Is that school with the competing offer a peer school or higher in rank?

gilkile
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Re: Negotiating scholarships works!!!!!

Postby gilkile » Fri Mar 02, 2012 11:30 am

DaftAndDirect wrote:
gilkile wrote:How does one go about asking for a living stipend? I have already received a full scholarship. How should I ask? I don't want to sound obnoxious.

I was thinking that because I have another full scholly offer from a school where I can live at home, I can ask them if they can help me with the additional cost of attending their school, where I would incur more living expenses.

Thoughts?


Is that school with the competing offer a peer school or higher in rank?
a couple spots higher but basically a peer...

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theavrock
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Re: Negotiating scholarships works!!!!!

Postby theavrock » Fri Mar 02, 2012 11:37 am

Just ask. They are not going to rescind your scholarship and the worst thing they can do is say no.

Even if its not a peer school. If you have a convincing reason say that. I would simply say 1. you're very gracious and love the school. 2. its very high on your list because XYZ (if it is), but financial concerns will play a large role in uour decision because of XYZ. 3. That being said you have X from school Y and if School Z can do anything to help further decrease the cost of attendance it would certainly move them up.

Just be tactful and you'll be fine. Schools are used to these requests. Understand this is a business for them and think of it that way for yourself.

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theavrock
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Re: Negotiating scholarships works!!!!!

Postby theavrock » Fri Mar 02, 2012 11:38 am

gaud wrote:Anyone mind looking at my draft?


PM if you want.

zanzbar
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Re: Negotiating scholarships works!!!!!

Postby zanzbar » Sun Mar 04, 2012 10:06 pm

Has anyone tried including other things besides scholarship offers to try to persuade an increase. Over the weekend I created a spreadsheet to demonstrate how much a law degree costs from each of my top choices when considering a 10 year repayment schedule for all the debt I would incur while going to each law school. I used this to create a quick 1 page summary of the important figures (debt per year, total debt with interest, monthly loan payment) with some explanations. Of course its not completely accurate because I can't predict unexpected expenses or raises I might receive, but does anyone think it would do any help/harm to send it out to schools I am trying to negotiate with? So far I haven't got an increase yet so I am thinking it can't hurt to much.

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punkyg0608
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Re: Negotiating scholarships works!!!!!

Postby punkyg0608 » Mon Mar 05, 2012 1:35 am

zanzbar wrote:Has anyone tried including other things besides scholarship offers to try to persuade an increase. Over the weekend I created a spreadsheet to demonstrate how much a law degree costs from each of my top choices when considering a 10 year repayment schedule for all the debt I would incur while going to each law school. I used this to create a quick 1 page summary of the important figures (debt per year, total debt with interest, monthly loan payment) with some explanations. Of course its not completely accurate because I can't predict unexpected expenses or raises I might receive, but does anyone think it would do any help/harm to send it out to schools I am trying to negotiate with? So far I haven't got an increase yet so I am thinking it can't hurt to much.



No, it won't hurt at all. But I don't know how much help it will be. Are schools really going to care how much debt interest you're going to have? By the way, how are you calculating these numbers?

asanborn
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Re: Negotiating scholarships works!!!!!

Postby asanborn » Mon Mar 05, 2012 10:14 am

Does anybody think that a full-ride at UNLV would be effective leverage with Utah? Also, how successful have people been at negotiating stips? I have the top third stip at UNLV and would love to see if I can get that removed.

zanzbar
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Re: Negotiating scholarships works!!!!!

Postby zanzbar » Mon Mar 05, 2012 12:34 pm

punkyg0608 wrote:
zanzbar wrote:Has anyone tried including other things besides scholarship offers to try to persuade an increase. Over the weekend I created a spreadsheet to demonstrate how much a law degree costs from each of my top choices when considering a 10 year repayment schedule for all the debt I would incur while going to each law school. I used this to create a quick 1 page summary of the important figures (debt per year, total debt with interest, monthly loan payment) with some explanations. Of course its not completely accurate because I can't predict unexpected expenses or raises I might receive, but does anyone think it would do any help/harm to send it out to schools I am trying to negotiate with? So far I haven't got an increase yet so I am thinking it can't hurt to much.



No, it won't hurt at all. But I don't know how much help it will be. Are schools really going to care how much debt interest you're going to have? By the way, how are you calculating these numbers?


I did it in excel but the simple explanation of it (Tuition-Scholarships)+ Rent/Amenities+ Transportation costs+ Food+Books for 3 years. Then I started factoring in the compound interest from each year of law school using the grad plus interest rate (7.9%) so then I used the PMT formula to determine the amount of my monthly payment to pay it off over 10 years and once I got that number I used the average starting salary provided by each school (I know the issue with this, but I didn't really have any better estimate to go with) I then took 30% off this number to calculate for federal income tax rate ,subtracted the loan repayment, and I am left with my average monthly take home pay. One school did clearly win in the end. I guess there could be an additional cost of living argument for why this school has higher pay, but even the higher pay allows me to increase my loan repayment by simply 100 bucks a month it will save me a couple grand in the long run.

landla
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Re: Negotiating scholarships works!!!!!

Postby landla » Mon Mar 05, 2012 2:06 pm

zanzbar wrote:I did it in excel but the simple explanation of it (Tuition-Scholarships)+ Rent/Amenities+ Transportation costs+ Food+Books for 3 years. Then I started factoring in the compound interest from each year of law school using the grad plus interest rate (7.9%) so then I used the PMT formula to determine the amount of my monthly payment to pay it off over 10 years and once I got that number I used the average starting salary provided by each school (I know the issue with this, but I didn't really have any better estimate to go with) I then took 30% off this number to calculate for federal income tax rate ,subtracted the loan repayment, and I am left with my average monthly take home pay. One school did clearly win in the end. I guess there could be an additional cost of living argument for why this school has higher pay, but even the higher pay allows me to increase my loan repayment by simply 100 bucks a month it will save me a couple grand in the long run.


I did the first part of this - total coa over the three years, using their numbers and mine (based on information of housing costs, etc. - they were pretty similar for the most part). I've heard showing different COAs is good in negotiating (for instance, two schools give comparable amounts but have different COA). I'll probably end up making more columns for debt repayment, but (as you mentioned), I'm not comfortable saying I'll get median. I may do low, median, high. However, I doubt this would help any more than COA comparison, because that is probably what they will focus on for your chart (IMO).

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chem
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Re: Negotiating scholarships works!!!!!

Postby chem » Mon Mar 05, 2012 2:58 pm

Hey everyone,

I want to leverage a scholly at Vanderbilt with an MVP school. Do you think I will get any bites, and would someone be willing to read over my email?

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Unagi
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Re: Negotiating scholarships works!!!!!

Postby Unagi » Mon Mar 05, 2012 3:29 pm

chem wrote:Hey everyone,

I want to leverage a scholly at Vanderbilt with an MVP school. Do you think I will get any bites, and would someone be willing to read over my email?


I think it depends on the size of your scholly. You can PM me your email if you want.

Real Madrid
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Re: Negotiating scholarships works!!!!!

Postby Real Madrid » Mon Mar 05, 2012 3:32 pm

I was just on the verge of sending an email to UCLA and I got a one-year grant award of $1,000. This doesn't change much, but would it be ungrateful to send a request for increased scholarship the same day?

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Unagi
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Re: Negotiating scholarships works!!!!!

Postby Unagi » Mon Mar 05, 2012 3:38 pm

Real Madrid wrote:I was just on the verge of sending an email to UCLA and I got a one-year grant award of $1,000. This doesn't change much, but would it be ungrateful to send a request for increased scholarship the same day?


PM!

pineappledazzler
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Re: Negotiating scholarships works!!!!!

Postby pineappledazzler » Mon Mar 05, 2012 5:00 pm

Unagi wrote:
chem wrote:Hey everyone,

I want to leverage a scholly at Vanderbilt with an MVP school. Do you think I will get any bites, and would someone be willing to read over my email?


I think it depends on the size of your scholly. You can PM me your email if you want.


I'm also looking to leverage a Vanderbilt scholarship at a couple of T10 schools - what would that kind of email usually look like (when it's not really a peer school?). I was awarded 40k if it makes a difference.

Sammy841
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Re: Negotiating scholarships works!!!!!

Postby Sammy841 » Mon Mar 05, 2012 10:19 pm

Another Vanderbilt leverage question. Anyone tried to get more from Georgetown with a Vandy scholarship? I got $60,000 from Vandy and haven't heard anything from GULC yet but was just accepted last Friday...

asanborn
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Re: Negotiating scholarships works!!!!!

Postby asanborn » Mon Mar 05, 2012 10:51 pm

asanborn wrote:Does anybody think that a full-ride at UNLV would be effective leverage with Utah? Also, how successful have people been at negotiating stips? I have the top third stip at UNLV and would love to see if I can get that removed.


Little bit of an update. UNLV just sent me an email tonight (before I even had the chance to email them) and offered me half-tuition if I was between 33%-50%. Would it be wrong to email them and ask for no stips or reduced stips?

HellOnHeels
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Re: Negotiating scholarships works!!!!!

Postby HellOnHeels » Wed Mar 07, 2012 10:39 am

It has now been a month since I emailed a school asking to be considered for a scholarship. I haven't heard back. Should I just give up?

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hal20
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Re: Negotiating scholarships works!!!!!

Postby hal20 » Wed Mar 07, 2012 11:15 am

Anyone have success negotiating with UT? PM please!

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wendys27
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Re: Negotiating scholarships works!!!!!

Postby wendys27 » Wed Mar 07, 2012 4:16 pm

I got a scholarship to Michigan. Do you think I can use that to get money at Cornell and Georgetown?

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Smumps
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Re: Negotiating scholarships works!!!!!

Postby Smumps » Wed Mar 07, 2012 4:54 pm

Is the general consensus to wait for all your offers before negotiating? A number of schools might take until late March for their merit/need offer. I'm pretty worried about waiting until late March/early April to ask other schools for some/more $$. Then again, if I go all-in now, maybe they give me less than they would have.

Thoughts?

landla
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Re: Negotiating scholarships works!!!!!

Postby landla » Wed Mar 07, 2012 8:51 pm

If anyone would be so kind as to review my negotiation letter, please PM me!

I'm just starting to negotiate, so here's to hoping!

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omninode
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Re: Negotiating scholarships works!!!!!

Postby omninode » Wed Mar 07, 2012 9:01 pm

Smumps wrote:Is the general consensus to wait for all your offers before negotiating? A number of schools might take until late March for their merit/need offer. I'm pretty worried about waiting until late March/early April to ask other schools for some/more $$. Then again, if I go all-in now, maybe they give me less than they would have.

Thoughts?

mtyler19
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Re: Negotiating scholarships works!!!!!

Postby mtyler19 » Thu Mar 08, 2012 12:56 pm

I emailed a school with one of my other scholarships, recieved a reply almost 2 weeks later saying they couldn't increase. How long should I wait before sending my next request?

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wamanda
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Re: Negotiating scholarships works!!!!!

Postby wamanda » Thu Mar 08, 2012 1:27 pm

wendys27 wrote:I got a scholarship to Michigan. Do you think I can use that to get money at Cornell and Georgetown?


Ummm, absolutely. Michigan is hands down a better school (or, at least, higher ranked).

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6thbackstreetboy
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Re: Negotiating scholarships works!!!!!

Postby 6thbackstreetboy » Thu Mar 08, 2012 1:59 pm

So I just got an updated offer from UCLA of $20,000 a year, up from $0. I really want to go to UCLA, but I'll only go if I can get it bumped up to $30,000 a year(which tons of people with my numbers have received). I already told them about $76,500 from Texas, $45,000 from Michigan and $129,000 from WUSTL. I just got $75,000 from Vanderbilt, which I'm going to to try to use to negotiate. Does anyone have any suggestions for how I should approach another round of negotiating?




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