Reply to What does "we meet 100% of demonstrated need" really look like in numbers?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Schools are getting away with some very fuzzy wording, in may mind. Their idea of "demonstrated need" involves loans, definitely. Then they come away feeling good about themselves, but meanwhile they have saddled my child with loans she will have for year to come! I will say that the FAFSA calculator is pretty darn eye opening as to what they think we as parents are supposed to be able to contribute. I don't know how they think it's gonna happen, but for us with a combined income of just over 200K and another child in college, they expect us to contribute $30K per year for our rising college student. And they offered her $1K in work study and $5K in student loans. Total BS.[/quote]

Right, but then won't your older kid's drop too? Sounds like your efc is 60k, now halved for each kid when #2 enters because #1 is still in school, right?

This is actually a great deal, but it may not last. The new college finance bill the passed congress a few years ago will go into effect next year, and Lamar Alexander added a clause that eliminates this siblings at the same time benefit. For many schools, you may see that 30k double.

My #2 will be applying next year, and I hope some css schools will keep that provision even if FAFSA calculations drop it.

But at 200k annual, 60k efc is not bad and 30k is excellent.  You should have some money saved,  right?[/quote]

So Lamar is the one responsible for this horrendous change. PP, DYK why he did this? Who stands to benefit? Private loan companies?

I can't really imagine he was motivated by an equity argument. I think this is going to blow up and sadly can't see Congress being able to fix it.[/quote]

We have kids one year apart and our EFC right now is about 60k. 120k would not be doable without draining retirement savings. Ironically, I think we'll push them towards CSS schools because the change is only for fafsa [/quote]

PP who originally posted about this change here. Do you have any assurance CSS will keep giving families with more than 1 a break? I am hoping so, since they give a break for private school costs. My #2 will enter right when the FAFSA provision changes (if it even goes into effect on time. It's been delayed twice already,  I think). #1 is at a CSS school with good FA and hoping #2 will get in one as well for this reason.[/quote]

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