Daniel Barkowitz | March 19, 2008
"FASU2(3D) - Decisions, Dilemmas and Documents"
So, I'll painfully admit to liking Miley Cyrus' music. I know, I know, I am an adult (at least I play one on TV) and we aren't supposed to care about Hannah Montana, but you know what? I've actually seen the TV show, and I do enjoy the choruses of "See You Again."
Now you should know that I have two pre-teen daughters, so they are TOTALLY into the Montana/Cyrus thing. We have the CDs, the posters, the web page membership, and -- yes -- they went to see the 3D movie (un/fortunately I was working and couldn't attend).
Personally, I think I draw the line at a 3D movie of Miley, but I would definitely go see U23D but time hasn't allowed it yet. I did see U2 live when they were in Boston and that was an unforgettable experience...
Any shameful musical addictions you are willing to admit to? Has anyone seen U23D?
But back to serious stuff. The 3Ds of this post relate to decisions, dilemmas and documents.
Decisions:
- Hopefully many of you should begin to receive your admit packets with your financial aid information enclosed. To answer some questions from the last post, you can get a sneak peek as to what your financial aid award letter will contain by looking at the documents currently reporting as missing on your financial aid portlet on My.MIT. If we are missing the Student Information Review Form, then you are receiving MIT scholarship. If we are missing the Self-Help form, you have a Self-Help award. If we are only missing loan paperwork, then you will not be receiving grant assistance from MIT. If you are surprised (negatively) by your award (either not receiving grant, or not receiving as much assistance as you think you will need), read below under "Dilemmas" for some information about what to do next.
- In the meantime, we are sending an additional 70 financial aid award letters out in the mail today. We have 54 additional completed applicants for whom we are working on producing financial aid awards. We hope to have this group of awards out in the mail on Friday.
- We are still missing complete application materials from 452 of you (you know who you are!!). PLEASE get your documents turned in (if you have questions about missing information either check your Financial Aid Tracking on My.MIT or the letter we sent with your admit packet, or call or email us for clarification. We really want to give you a financial aid award, but we cannot without a completed application packet, so get those missing forms in.
Dilemmas:
OK, so your financial aid award has arrived and you are somewhat (or extremely) disappointed with the result. What do you do?
Well, first, breathe... Take a deep breath in, and exhale. Then, take a look around. Do you have other financial aid award offers from other similar institutions? Is our family contribution very different than theirs? Or are you just having a reaction to a seemingly high number without benefit of understanding what it compares to?
Let's take about three steps back.
First, remember that the EFC is supposed to be a measure of what cost your family can absorb in an entire year. It is not a measure of how much can be paid out of pocket today, and in fact in the coming month I will talk about multiple choices you have in paying your bill (monthly, by semester, by borrowing). As such, you should take another look at your EFC and see if it makes sense given that this is not an out of pocket expense. Remember also that an MIT education is an investment for your family; just as a car isn't paid back within a year of purchase, repaying the parent contribution to your MIT education may take your family some time.
Second, I would compare the EFC we have calculated with EFCs you may have received from other colleges (I will warn you that most colleges who meet only part of your need will not display their EFCs on the award letter since they don't want to reveal that they are unable to meet full need; you may need to do some investigation to determine what your EFC is at these colleges. Additionally several colleges have moved to "automatic 0" or automatic x% parental contributions for various populations; we do not have that policy here at MIT). I'm not saying that we will automatically match another colleges EFC (because we generally don't), but understanding if our EFC is in the same range as another college will help you determine if there is some problem at play with our calculation unless you can attribute the difference in our EFCs to one of these new "automatic" formulae.
Third, remember that we do not offer merit-based financial aid at MIT. If you are a recipient of the “Trustee's Scholarship” or the “Presidential Scholarship” at some other institution we cannot match it. We award financial aid only on a need-basis and cannot consider the merit of each applicant (since you all have merit, otherwise you wouldn't have been admitted).
So, after all of this, your EFC still seems unreachable for your family. What do you do? If there are circumstances you think we didn't consider, or if there is a reason you feel we need to take another look at issues which you raised in your application, you should feel free to appeal your aid decision. Some things to keep in mind, though, to help you make your appeal successful:
- We begin considering appeals on March 31st and will be meeting daily to consider new appeals through May 2nd (with the exception of CPW). We will not be prepared to begin to accept appeals until March 31st, so please sit tight for now. Remember that right now, we are still trying to get awards out the door for students who have not yet heard from us. If you have not provided us your 2007 tax return (and all associated schedules and forms) you have to do that before we can even consider your appeal.
- When you call, have a general sense of what you are asking us to consider. If all you can say is that your EFC is not affordable that is OK, but it generally is more helpful if you can provide more specific information. If you have had unusual expenses in the past year, if your parent lost a job in 2007 and hasn't been employed in 2008, if you have had a change in your asset situation, make sure to let us know that in your contact with us.
- Recognize that we are unable to “negotiate“ aid offers, although we may ask you to send us a copy of another institution's award letter. We are interested in seeing other institutions' EFCs for you (if you are willing to share them) and may be able to tell you why our contribution is different than theirs.
- Know that even if we say “no“ to your appeal, we will work with you to help you find a way to make the dream of an MIT education a reality. It is very helpful if you know upfront how much of a monthly expense your current budget can handle. With this information, we can help you construct a loan and payment plan combination which will fit within your budget and will help you manage the cost of your EFC.
Feel free to ask questions here too, although I will ask if the post is very specific to your particular situation that you either email me or the Financial Aid address (finaid.at.mit.dot.edu) directly.
Documents:
A few notes of interest on particular documents we have said you are (or may be) missing:
- Pell Disbursement Record from COD -- This is nothing you can take care of satisfying. This "document" is really a status which indicates to us that your Pell Grant has been accepted by the Department of Education. As long as all other documents are turned in, you can ignore this document.
- Loan Entrance Counseling, Perkins Promissory Note, Stafford Master Promissory Note -- Again, nothing you can take care of now. When we get closer to start of term, I will post some information about how to complete these documents so that you can take advantage of the low-interest rate Federal student loans these represent. I know that there have been a lot of articles in the news recently about questions about loan availability in the coming year. Don't worry about it! These loans are directly funded by the Federal government and will be available for you in the Fall.
Miscellaneous
- Favorite ice cream flavor - ginger
- Favorite fiction author - Stephen King
- Favorite science fiction / fantasy author - Robert Jordan (sadly of blessed memory)
- Favorite MIT restaurant - Steam Cafe!
- Favorite thing to do if I have 5 minutes of free time -- (you mean other than blogging or reading the Tech?) doing kakuro puzzles
- Favorite blogger (other than yourself) - (coy smile) not gonna tell you!
So, what about the 3D you promised in the beginning of the entry?
Take a look here for a very cool 3D computer interface with real space developed here at MIT by Simon Greenwold.
You can see this in action below:
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The author has filed this entry in the "Financial Aid" section; check it out for further reading on this topic. |
Responses To This Entry:
(Please note that comments are closed after 30 days to reduce spam.)
First!
Posted by: Arthur on March 19, 2008 01:43 PM
2nd
Posted by: Abhishek on March 19, 2008 01:44 PM
Wow! Cool computer!
Posted by: Anonymous on March 19, 2008 01:46 PM
wow, I'm close to the top!
anyway, good to hear, because the first thing I hear after "Congratulations" is "how are you going to pay" =)
Posted by: Chris on March 19, 2008 02:37 PM
Damn! That's intense!
Posted by: Jeremy on March 19, 2008 02:38 PM
Hannah Montana and Miley Cyrus = Awesome! I remember Paul once said "Life's What You Make It" and I thought of Hannah Montana. XD (I know that this had nothing to do with Financial Aid. I'm sorry! ^^')
Posted by: Rachel '13 hopeful on March 19, 2008 03:17 PM
So, on my My.MIT account it doesn't say I am missing anything. WHAT DOES IT MEAN?!?
Posted by: Stevem on March 19, 2008 03:20 PM
Kakuro! You too, Daniel? XD
Posted by: José P. on March 19, 2008 03:26 PM
It means in your case that your file is under review (as one of the 50ish that I mentioned above).
No worries, we are working on it!
Posted by: Daniel Barkowitz on March 19, 2008 03:33 PM
I've even given up reading fiction to play kakuro... I'm definitely an addict...
Posted by: Daniel Barkowitz on March 19, 2008 03:34 PM
Hmm, so Collegeboard tells me my IDOCs have been available to MIT for a few days, but MIT says I am still missing those documents. How long does it take between the time those documents become available and the time that MIT takes record of having them?
Posted by: Lauren '12 on March 19, 2008 03:53 PM
I love Kakuro as well - it is my favorite of all pencil puzzles.
I don't quite understand why self-help is called an "award". To me, it seems more an extension of the EFC. Could you clarify?
Thanks!
Posted by: kristina on March 19, 2008 03:54 PM
Lauren, not sure which Lauren you might be so I cannont specifically address your file, but it can take up to a week for your documents to reach MIT once they are received by the College Board. If it has been longer than that, email me your contact information and I can look into it.
Kristina, I understand the confusion. But Self-Help does not count as part of your EFC as it is something you don't have to pay during the academic year and it can be either loan or work depending on your choice. Most schools won't give you a Self-help award; they'll just tell you how much you have to work or borrow. At MIT we believe you should be able to choose the amount that is right for you.
Posted by: Daniel Barkowitz on March 19, 2008 04:26 PM
I have another question, Dan. Say you get an outside merit-based scholarship that exceeds the amount of your self-help. Can the rest be applied to your EFC, or will it be subtracted from the MIT scholarship?
Posted by: kristina on March 19, 2008 04:43 PM
We will first use your outside scholarship to reduce the amount of your self-help, then your student contribution, then any other financial aid (including the MIT scholarship) and only last the EFC.
Posted by: Daniel Barkowitz on March 19, 2008 04:47 PM
What does this mean "International Student Financial Aid App [received]
Your application is complete at this time."
Posted by: Kavya on March 19, 2008 05:22 PM
I would LOVE to see U2 3D--they are one of the greatest bands in history!
Posted by: Natalie on March 19, 2008 06:06 PM
Hi, i wonder how is the package sent to internationals? I mean by what mail courier?
As for me, i live in Palestine and the mail system is BAD, it will take a long long time before a regular mail is received.
Is it possible to send by express mail or vie e-mail? I am worried about not getting things in time.
Thanks
Posted by: Yazan Alnahhas on March 19, 2008 06:45 PM
Just wanted to say good luck with the doctoral program! I am an MIT employee (with a family) working through a part time PhD too- the fun never stops! Maybe there should be a support group for us- how about MITEPHDSG- too cumbersome?
Posted by: Anonymous on March 19, 2008 07:11 PM
My "MyMIT" page says I'm missing a Pell Disbursement Record from COD. I know you said that there's nothing I can do about it, but can/will that keep my aid package from being complete and sent with the rest of the admissions stuff?!?
Posted by: akara '12 on March 19, 2008 07:32 PM
Daniel, Kristina —
Sudoku is still my favorite puzzle, but my interest in Kakuro has grown exponentially over the past few months. I also enjoy word problems of any kind. Any brain exercise is enjoyable, actually. :)
Posted by: José P. on March 19, 2008 07:40 PM
Akara, nope! This document will not prevent an award from being determined or mailed to you. It will just prevent disbursement of your Pell Grant fund to your student account until it is resolved.
Yazan, I think it was mailed regular US post to international addresses. I can certainly understand your concern about international mail arriving slowly. Give it a week or two. If you do not have your financial aid award by then, you can let me know and we will provide it to you another way.
Kavya, probably that there is nothing more you need to do at this point.
Anonymous, sounds like a great idea. You start it and I will be a charter member...
Posted by: Daniel Barkowitz on March 19, 2008 09:04 PM
If our parents haven't filed the 2007 income tax yet, but we have sent in their 2006 taxes and their 2007 W-2 forms - will I still receive financial aid? Will I receive enough?
Posted by: Roshan on March 19, 2008 10:37 PM
Also, I sent in the W-2 forms [faxed] four times in the past two and a half weeks.. but its still displaying as not received... what should I do?
Posted by: Roshan on March 19, 2008 10:40 PM
We do have the W-2 form, and you are getting a financial aid award in your packet. We will need the 2007 tax information before we can confirm your award; at the moment it is tentative. Remember that we cannot commit to your aid until we have the final information.
Posted by: Daniel Barkowitz on March 19, 2008 10:50 PM
Hey
Why were packages to international addresses mailed regular US post? It was already exhausting waiting for the admission decision and now the 'big envelope'--This amount of excitement and anticipation devours hugh quantities of energy. I live in Trinidad and it usually takes at least 2-3 weeks from the postage date for me to receive mail on a normal basis. However, there are 3 public holidays within the next 2 weeks (Good Friday, Easter Monday and Spiritual Baptist Day), and this will no doubt extend this period of wait. Is it possible in any way for me to know how much aid I will be receiving before I get the actual package?
Also, is the 'Self-Help and Outside Award Reply Form' one form, or is there a Self-Help Form and an Outside Award Reply Form?
Posted by: Jonn-Ross on March 19, 2008 10:55 PM
thx a lot...this answers all my questions!!
Posted by: Ivy Chen on March 20, 2008 01:05 AM
What If I'm missing the student review form AND the self help and outside award reply form? What does that mean?
Posted by: Anonymous on March 20, 2008 01:51 AM
# Need info for 13 other pr
# Two Sch C's - 1for each p
Can you please elaborate on what those forms are?
Posted by: Edan on March 20, 2008 11:23 AM
Email me directly Edan. It's more revealing that I want to post on a public web page.
Anonymous, congrats, you have both grant and self-help.
Jonn-Ross, not sure why they chose to mail by regular post, but probably because the admissions decisions were going to be given online. And it is one form, not two.
Posted by: Daniel Barkowitz on March 20, 2008 12:11 PM
It is said that my parents' 2007 income tax returns are missing from my file and that my parents' 2006 income tax returns have been received. Will I receive a tentative financial aid award when I receive my acceptance letter? Can I email / fax the missing documents to your office?
Posted by: Anonymous on March 20, 2008 12:18 PM
Yes, you will get a financial aid award with your admit pack as we read your file based on 2006 income. As you are an international student we can accept your 2007 by mail, fax or email (domestic students use a process called IDOC and theirs have to go by mail).
Posted by: Daniel Barkowitz on March 20, 2008 12:57 PM
Mr. Barkowitz, i can't seem to find your direct e-mail address. Any help? :)
Posted by: Edan on March 20, 2008 01:32 PM
Dear Mr.Barkowitz,
Please ignore my previous post, i have found your e-mail address and have since sent the letter.
Thanks
Posted by: Edan on March 20, 2008 01:37 PM
So, I have a question...
What happens to my financial aid if I have to defer enrollment?
Posted by: KelseyK on March 20, 2008 02:16 PM
If you defer admission, we need to reevaluate your financial aid award next year. This is no different than if you attend and reapply as a Sophomore.
Posted by: Daniel T. Barkowitz on March 20, 2008 03:16 PM
How does the appeal process work? Is it by phone or email, or do we actually have to go to financial aid office?
Posted by: Kim on March 20, 2008 03:43 PM
Wow! That game is fun!
Posted by: Drew '12 on March 20, 2008 04:19 PM
Dear Daniel, would you please let me know your email? Thanks.
Posted by: tryToGetHelp on March 21, 2008 01:07 AM
For International applicants I thought I would post that I am an exchange student in Austria and got my package here today (Friday). It was mailed first class airmail overseas. Hope that helps.
Posted by: Julia on March 21, 2008 07:30 AM
My (blog) email is moneyman(at)mit(dot)edu.
Kim, appeals are fine by phone and email.
Posted by: Daniel Barkowitz on March 21, 2008 07:59 AM
This was really helpful, thank you, but i just got my financial aid package and I basically didn't get any :( and my parents said that they were going to try to talk to the financial aid people at CPW, but I think that they know that we wont get any. My family makes a lot of money, but $50,000 a year is still a heck of a lot... I don't even know how we're going to pay for it...
Posted by: Tom on March 21, 2008 06:04 PM
Tom, you don't have to wait until CPW to speak to someone. Call our office now and speak with a financial aid officer and ask to review your case. They can help you determine if there are any grounds for appeal in your review.
Posted by: Daniel Barkowitz on March 24, 2008 09:26 PM
