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College and University Discussion
Reply to "Help me understand ED"
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[quote=Anonymous][quote=Anonymous]Thanks PPs. So if the estimated aid on the school's website says you will have to pay $10K and the school is $40K, the school will give you the difference 100% of the time? Or do schools sometimes give less than the website says? [b]If I know I can't pay more than $20K out of pocket per year and the calculator says they will only give me $10K, should I take that as gospel and steer clear of ED at that school?[/quote][/b] Unless you have unusual financial circumstances (i.e. own a small business rather than receiving a regular income/W-2) the NPC will usually be accurate. If it says your EFC is $20K and you need to go somewhere where you will only pay $10k then don't waste your ED on that school. Find a school whose NPC says you will only pay $10K and apply there ED if your kid would be very happy to go there. If that ED school does not come through with the amount indicated when you ran the NPC then at that point you are released from the ED agreement (although you might first show them the earlier NPC you ran and see if they can improve your aid package) and are free to apply ED II somewhere else, or apply to a bunch of places EA/RD and compare their various aid packages. [/quote]
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