Applying for need-based aid - good or bad idea? Forum

[macha]

I've applied to the T-14 this cycle, and think I'm a pretty strong candidate for merit scholarships. I don't expect to get much need-based aid, as my parents' income is pretty substantial. Is there any point to me filling out the need-based aid forms at schools like Duke and Cornell, or should I go ahead and indicate that I am applying for merit scholarships only? I guess my real question is: is there any disadvantage in applying for need-based aid when you don't expect to get any?

[smiles123]

From my understanding your parent's income doesn't matter for this. It's your income that matters, but I could be wrong.

[sesto elemento]

From my understanding your parent's income doesn't matter for this. It's your income that matters, but I could be wrong.

You're wrong, parent's income is taken into account.
OP there's no disadvantage in applying for need based aid.

[sanetzba]

From my understanding your parent's income doesn't matter for this. It's your income that matters, but I could be wrong.

You're wrong, parent's income is taken into account.
OP there's no disadvantage in applying for need based aid.

For schools where they don't require the Need Access form parents don't count. You can fill in their information on the FAFSA, but since this is graduate admissions you can be considered separate from them.

[Hikikomorist]

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[erythromycin]

Out of curiosity, how does parental income factor in when you are an older student? My parents are nearing retirement and have made it clear that they are not paying for any further schooling (they paid for my undergrad), which I think is totally fair. I am currently 26 (almost 27), married, and I have been paying my own taxes independent from my parents for five years. Would my parents' income and assets be considered, or would only my husband and my income and assets (which are much lower) be considered?

[middlebear]

Out of curiosity, how does parental income factor in when you are an older student? My parents are nearing retirement and have made it clear that they are not paying for any further schooling (they paid for my undergrad), which I think is totally fair. I am currently 26 (almost 27), married, and I have been paying my own taxes independent from my parents for five years. Would my parents' income and assets be considered, or would only my husband and my income and assets (which are much lower) be considered?

Honestly, I don't think it matters that your parents aren't going to pay, they still want to see it and will use it in their calculations. I think, though, if you can show you've been financially emancipated/independent for five years or something--or maybe this is only for specific schools--you can get that waived. But most schools are going to require parental info if you're under 30, no matter what.

[The TrashMan]

Out of curiosity, how does parental income factor in when you are an older student? My parents are nearing retirement and have made it clear that they are not paying for any further schooling (they paid for my undergrad), which I think is totally fair. I am currently 26 (almost 27), married, and I have been paying my own taxes independent from my parents for five years. Would my parents' income and assets be considered, or would only my husband and my income and assets (which are much lower) be considered?

Don't base your life on this, but my understanding is that you have to be 30, or received less than 10,000 from your parents in the past 5 years. No idea how you prove that though.

[Tiago Splitter]

Out of curiosity, how does parental income factor in when you are an older student? My parents are nearing retirement and have made it clear that they are not paying for any further schooling (they paid for my undergrad), which I think is totally fair. I am currently 26 (almost 27), married, and I have been paying my own taxes independent from my parents for five years. Would my parents' income and assets be considered, or would only my husband and my income and assets (which are much lower) be considered?

Need based aid is hard to come by outside of HYS. At those schools they begin phasing out parental information at age 26 and it's completely phased out by 29. Still, if you and your husband have income and assets, and especially if he keeps working while you're in school, you shouldn't expect a whole lot.

To the OP's question, Columbia requires you to fill out parental information in order to be eligible even for merit scholarships.

[limeo]

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[DrSpaceman]

I can't really imagine any situation where it's not worth it to fill out a few pages for even a small chance at free money. Paperwork is going to be a pretty big part of the rest of your life, right?