Financial Aid Packages

[Duchess85]

When do schools begin sending out the full financial aid packages, detailing the total amount of loans/grants/aids received?

[camarogirlj]

I got my first one (from FSU) today.  I know several other schools that I applied to said they will have them out at the end of the month (by April 1). 

[Poetgirl80]

I've received only 1 so far... but question about that: The letter states that I must accept/reject this award by May 1st. So, what happens if I haven't heard back from all my schools by then (I've got 1 WL and 1 school that's quoting me "mid-May" for decision...)

I've heard the stories of people all set to go to X school and then Y school calls them off the WL in July, so I'm sure this financial aid nightmare has happened before. Does anyone know the outcome?

[newtothis]

I just received my first one.  They'll be steadily coming in.  Just make sure you complete all the required paperwork.

[Poetgirl80]

bump

[.......2]

Just got my first one (from Cornell) today. NYU said mid-March. I hope that means tomorrow or Friday.

[Bulldog86]

I've received only 1 so far... but question about that: The letter states that I must accept/reject this award by May 1st. So, what happens if I haven't heard back from all my schools by then (I've got 1 WL and 1 school that's quoting me "mid-May" for decision...)

I've heard the stories of people all set to go to X school and then Y school calls them off the WL in July, so I'm sure this financial aid nightmare has happened before. Does anyone know the outcome?

Don't most schools ask you to make your seat deposit (or whatever) by May 1 or earlier anyway? (I think Vanderbilt is like April 15!) So the idea being that by committing to attend X school, you accept the offer; by not committing, you decline it. If you don't commit to them by May 1, then you're not going there anyway.

Different schools may do this differently, but that's how all the places I applied seem to do it, and that's how undergrads do it as well. I guess in theory you could ask your top choice as of late April to allow you to wait until Y school has made a decision... and see what they say. Or you could pay the deposit and just forfeit it if a better offer comes along later (not sure of the ethics of that, but I'm sure it happens...)

[Poetgirl80]

This didn't exactly answer my question but that's ok-- the slow school I'm referring to (who hasn't finished reviewing EARLY apps yet, much less started Regular ones) isn't at the top of my list at the moment. Well, ha...they are on a list alright, just not the good kind.

(just to clarify- I wasn't referring to seat deposits... I'm talking about accepting the scholarship/grant/loan package. Once the gov't is involved in the money stuff, can you bail on it if a better offer comes along later and still get aid to that better school?)

[Bulldog86]

I got that you weren't talking about seat deposits, I just figured that "accepting the scholarship" often/usually means "paying the seat deposit", so I threw them in together. But I didn't think about the government stuff, so my post was probably less helpful than I imagined.

In a situation like that, I'd call the financial aid office at both schools in contention (if that's the case) and ask, hypothetically, what the policy was. I'm sure you're not the only person with a similar case, and there are probably school and gov't rules to deal with that happening.

BTW, what school hasn't finished Early apps by now?! That's ridiculous...