The FA company estimated that I could only afford to pay $1100

[Anonymous]

So I applied to a few private schools for my DD who will be in 6th grade next year. I also applied for FA through SSS. They provide a Family Report after you finish filling out the information and sending in the documents they ask for. The Family Report said that they estimate I can afford to pay $1100. I know one of the FA companies (it could've been SSS or one of the other ones I filled out info for) asked how much I think I can afford to pay. I can afford appr. $7000-8000/yr. If this report is what the schools receive, I don't think I have any chance of getting any FA for a school that costs $25K. I know some schools do offer a lot of aid to a few families but this report makes me feel very doubtful.

[Anonymous]

Wait and see.

[Anonymous]

Anonymous wrote:So I applied to a few private schools for my DD who will be in 6th grade next year. I also applied for FA through SSS. They provide a Family Report after you finish filling out the information and sending in the documents they ask for. The Family Report said that they estimate I can afford to pay $1100. I know one of the FA companies (it could've been SSS or one of the other ones I filled out info for) asked how much I think I can afford to pay. I can afford appr. $7000-8000/yr. If this report is what the schools receive, I don't think I have any chance of getting any FA for a school that costs $25K. I know some schools do offer a lot of aid to a few families but this report makes me feel very doubtful.

Did the report say $1100 or is that the amount you came up with after diving the total amount it provided? The figure my report gave me was the annual figure, not the monthly one. Also, the report is just a baseline the schools use. They will look at all of the supporting documentation you provide when making an offer.

[Anonymous]

The amount was listed as the "Parent Contribution for all Students." It was at the bottom of the summary report so I am assuming it is the annual amount.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So I applied to a few private schools for my DD who will be in 6th grade next year. I also applied for FA through SSS. They provide a Family Report after you finish filling out the information and sending in the documents they ask for. The Family Report said that they estimate I can afford to pay $1100. I know one of the FA companies (it could've been SSS or one of the other ones I filled out info for) asked how much I think I can afford to pay. I can afford appr. $7000-8000/yr. If this report is what the schools receive, I don't think I have any chance of getting any FA for a school that costs $25K. I know some schools do offer a lot of aid to a few families but this report makes me feel very doubtful.

Did the report say $1100 or is that the amount you came up with after diving the total amount it provided? The figure my report gave me was the annual figure, not the monthly one. Also, the report is just a baseline the schools use. They will look at all of the supporting documentation you provide when making an offer.

I just re-read what you said. You are in a good position I think. If the report says $1,100 and you can affor $8,000 sounds like you will be in good shape. Best care scenario they offer you close to a full ride (probably unlikely), worst case scenario they offer you something more in line with you paying $8,000 and you will be good to go.

[Anonymous]

OP again. I looked back through the report and I did write that I could contribute $7000/yr towards tuition. I just don't understand why their calculations have such a vastly different amount. Oh well. I'll know my answer in another month.

[Anonymous]

And sadly, just because that's what you are calculated as able to pay, it doesn't mean that's what schools will offer.
Good Luck.

[Anonymous]

Anonymous wrote:OP again. I looked back through the report and I did write that I could contribute $7000/yr towards tuition. I just don't understand why their calculations have such a vastly different amount. Oh well. I'll know my answer in another month.

Funny, we did the exact same. We wrote $7000 which was more than sss calculated and the offer came back with us paying $7000 to the dot.
They gave us exactly what we said we could pay. Good luck.

[Anonymous]

Don't apply to Basis McLean. They don't give aid! For profit school = hurts the bottom line!

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP again. I looked back through the report and I did write that I could contribute $7000/yr towards tuition. I just don't understand why their calculations have such a vastly different amount. Oh well. I'll know my answer in another month.

Funny, we did the exact same. We wrote $7000 which was more than sss calculated and the offer came back with us paying $7000 to the dot.
They gave us exactly what we said we could pay. Good luck.

Same here. Our EFC was something like $6500. We wrote we could pay $9000. FA came back with our expected contribution at exactly $9000.

Don't worry about the EFC being too low. They know that the formula might not be accurate for everyone, and if you say you can pay more, they believe you!

[Anonymous]

I don't suppose it means $1,100 per month? I think most of the schools can divide the tuition into monthly payment. Of 6 or so.

[Anonymous]

Thanks everyone. OP here. Your stories give me some hope No, PP, it wasn't a monthly amount. I'm a teacher so I make very little but I can afford $7000 or even $8000/yr. I wonder where their calculations come from to have such a huge discrepancy.

[Anonymous]

Anonymous wrote:Thanks everyone. OP here. Your stories give me some hope No, PP, it wasn't a monthly amount. I'm a teacher so I make very little but I can afford $7000 or even $8000/yr. I wonder where their calculations come from to have such a huge discrepancy.

They take into consideration your net income, housing costs, student loan debt, credit card debt, car notes, etc. to come up with that figure so they really try to give a good idea of what families can reasonably pay. Best of luck, OP.

[Anonymous]

Eh, I wouldn't put too much into that. My report says about 5k for family contribution and we end up getting about 10k in aid (and pay 20k).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So I applied to a few private schools for my DD who will be in 6th grade next year. I also applied for FA through SSS. They provide a Family Report after you finish filling out the information and sending in the documents they ask for. The Family Report said that they estimate I can afford to pay $1100. I know one of the FA companies (it could've been SSS or one of the other ones I filled out info for) asked how much I think I can afford to pay. I can afford appr. $7000-8000/yr. If this report is what the schools receive, I don't think I have any chance of getting any FA for a school that costs $25K. I know some schools do offer a lot of aid to a few families but this report makes me feel very doubtful.

Did the report say $1100 or is that the amount you came up with after diving the total amount it provided? The figure my report gave me was the annual figure, not the monthly one. Also, the report is just a baseline the schools use. They will look at all of the supporting documentation you provide when making an offer.

I just re-read what you said. You are in a good position I think. If the report says $1,100 and you can affor $8,000 sounds like you will be in good shape. Best care scenario they offer you close to a full ride (probably unlikely), worst case scenario they offer you something more in line with you paying $8,000 and you will be good to go.

OP, just because the SSS analysis says that your demonstrated need is the difference between tuition an $1,100, does not mean that the school will be willing to offer that.

What is DC bringing to table ?