Reply to FAFSA says we can pay $90K; should we have applied for FA?

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[quote=Anonymous][quote=Anonymous]We had a very similar situation.  3.8+ and 34 ACT.  Filled out FAFSA and sent it to colleges despite EFC of $99,000 and stating not applying for financial aid.  Plenty of merit aid offers from private schools, but if you are looking to get the pricing equivalent to state schools you are likely to be unhappy.  Here is why they would give you (and us) "merit aid"--you are willing to pay actual cash dollars for the remainder of the bill.  And if you pull up the college's common data set you will find that the average merit aid recipient still pays more than the average net revenue at the school.

I can guarantee at FAFSA EFC of $90k you are not going to qualify for federal funds, so all you can possibly receive is a tuition discount for your ability to pay.  Your child, while qualified, is competing for the likely 1 full ride spot at most private schools.  The rest of the qualified and well funded kids just have to have the parents pay the bill.  If you are really looking for a tuition bill like a state school with that amount of EFC then you really should be looking at state schools.  Just the way it is.[/quote]

OP here. Thanks, this is very helpful. I did call the private schools today, and most of them said, No. They won't match the price of state schools.

One of the private colleges sent me a list of their criteria for merit aid: 3.9 or 4.0 unweighted GPA, 1540 SAT, great recommendations, and a very strong desire to attend that school. We know two kids who got free rides to private schools, but their stats must have been better than DD's, and I thought hers were pretty darn good!

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