Reply to Is It Really Gonna Cost $280K? OMG

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Lol! $75k/year!!![/quote]

[b]For some, I guess. But half the student body gets need-based financial aid and the average award is around $50K. So every other kid on campus is paying nowhere near $75K.[/b][/quote]

I love people who can't read between the lines and buy this speel from colleges.  You do realize that they include in that figure the work-study programs, and the federal loans, even for those like us that are donut hole families.  And to further "improve" the stats, they hand out mini loans and grants. Just wait until you fill out the FAFSA and find out you make too much to qualify for anything but the min. $5500 loan. [b] Oh, but that puts us in the "half the student body gets need-based financial aid" section.[/b]  Besides, it doesn't sound like OP is getting any financial or merit aid.[/quote]

Thanks for the lecture about my inability to read between the lines. It's 'spiel' by the way, and you conveniently ignored the second part of that statement: "and the average award is around $50K." That's the average. I work in an analytical field, so I understand the term. Now if your FAFSA gives you an EFC of $70K, God bless, but for most that won't be the case.

I'm very familiar with the smoke & mirrors many college financial aid offices employ. But at the nation's most highly selective schools, the ones with multi-billion dollar endowments and [b]a pledge to meet 100% of need (increasingly without loans), that's not how it's done. 
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Dream on.  That "pledge" means nothing if "YOUR need" doesn't match that of the FAFSA computer - and it won't.  The universities and colleges manipulate those figures right and left so they can report high financial aid to USN&WR, but when you see it in action - NOPE, you won't get a penny except for the minimum $5500 loan.  We have three in college at the same time, need to contribute to our own retirement, and are taking care of 3 parents.  We NEED financial aid but the FAFSA computer says we don't.  There is no way we can afford $75K a year for 3 kids x 12, 13, or 14 years.  I'm glad for those who can but think it's unrealistic to claim that these colleges meet 100% of NEED when need is so narrowly defined.[/quote]

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