Reply to The New America: Elite Privates forever out of reach for UMC?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm not seeing it. Our household income is $145,000. The net price calculators say our contribution at various private schools is under $300000 per year[/quote]

NPC (the simplified version that asks only about half a dozen questions) significantly underestimates your expected contribution since it doesn't look at many forms of assets.  When you fill out FAFSA you will get a shock when you see what it expects you to contribute.[/quote]

But the NPC for each school is more accurate for their own expectations.  We found them to be dead on the money.  They need to be for private schools because if you opt to apply ED the way out of it is if the financial aid doesn't match what the NPC predicted.  Private schools rely on the CSS profile and their own interpretation of it which has little to do with FAFSA.[/quote]

But the CSS profile does not give a family's expected contribution.  It is just a detailed information about a family's financial situation.  Only FAFSA gives what a family is expected to contribute.  We are going through the undergraduate application process right now.  We will see if any private schools will offer any financial aid.  The fAFSA says we don't qualify for any.  The CSS profile doesn't give any information on what we are expected to contribute.  When we used the quick EFC calculator (simplified EFC calculator that asks very few questions) found in certain private school websites, it gives three different dollar amounts of family contributions (lowest amount, likely amount, highest amount).  The highest amount is closest to but somewhat less than what FAFSA expects us to contribute.  And the FAFSA amount is higher than the COA of the schools. [/quote]

FAFSA only tells you if you qualify for federal aid. Lots of people get school-based aid even though their income is too high for FAFSA. [/quote]

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