Anonymous wrote:

Anonymous wrote:OP here. There ARE other huge expenses not mentioned and not luxury items but that is not what this thread is about. Please stay on topic.

I getcha but also know that I was never happy filing papers when I worked in school's bursar's office to see kids receiving merit w/10X+ HHI than my family. So I can see why someone here might get salty.

Merit. Not aid. Huge difference.

Anonymous wrote:OP here. There ARE other huge expenses not mentioned and not luxury items but that is not what this thread is about. Please stay on topic.

You asked if your assumptions were valid, and therefore questioning the assumption that you can only afford $40k with $350k HHI is on topic.

Anonymous wrote:OP here. There ARE other huge expenses not mentioned and not luxury items but that is not what this thread is about. Please stay on topic.

I getcha but also know that I was never happy filing papers when I worked in school's bursar's office to see kids receiving merit w/10X+ HHI than my family. So I can see why someone here might get salty.

Anonymous wrote:OP here. There ARE other huge expenses not mentioned and not luxury items but that is not what this thread is about. Please stay on topic.

For question 1, only you can decide. Questions 2 and 3, you are correct.

OP here. There ARE other huge expenses not mentioned and not luxury items but that is not what this thread is about. Please stay on topic.

we really can only afford $40k COA
HHI around $350k

Huh? Looks to me like you can afford a lot more than that. You could pay $80k and not even notice it unless there are other huge expenses not mentioned.

You're smart to assume no FA. Search Google for merit lists. I found a free Excel spreadsheet of schools and their typical merit awards. This was offered by a college counseling company and very useful.

A few of the well-known state schools that offer merit include:

MSU
WVU
ASU
UVM
Maybe U of AZ??
U of Alabama
U of SC offers in-state tuition with certain stats
Maybe URI??

If you want smaller, you could try SLACs like College of Wooster and Kalamazoo College.

For us, the costs decreased price to $25,000/year at some schools.

I think I saw that thread about merit and have a few other sources so I will stay on that track if in-state does not pan out.

Anonymous wrote:PP- congrats! I am hoping we will get our in-state choice but you never know these days.

I have done a few of the calculators. Some are helpful and some seem very vague.

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Thanks! this was last year and our kid is very happy! Only a handful of calculators will include merit and will be helpful at your income level.
There's a list floating around here and the broader internet of average merit awards at schools that was really helpful to us--but I don't really remember how to find it!

Anonymous wrote:You have to use the calculators that are on each of the college's websites to see what, if any, aid you may qualify for.

waster of time for HHI $350k

PP- congrats! I am hoping we will get our in-state choice but you never know these days.

I have done a few of the calculators. Some are helpful and some seem very vague.

This is what we did and scoured NPC/lists of typical merit awards. Our kid's choices were in-state (UVA and WM) which had a COA of roughly 40k/yr and out of state schools /private LACs --and found it was more like T40 and above and not all of those that offered significant enough merit aid. Our kid had 4.4 GPA and 1510 SAT and national award in area of interest plus typical ECs. Fortunately they got their first choice in-state.

You have to use the calculators that are on each of the college's websites to see what, if any, aid you may qualify for.

If you cannot afford 80-90K per year, then yes, you need to aim lower. Even the highly ranked public schools will cost more than 40k per year OOS.
Probably need to aim for schools in the 60-100 rankings to get you the Merit that you are seeking.

My junior kid (white male) has strong stats and rigorous schedule. We are crafting our college list and are avoiding the top 25 national schools due to the following assumptions: 1) we really can only afford $40k COA 2) HHI around $350k so assuming no financial aid 3) feel the odds of acceptance for even strong stats are so low and then most likely couldn't afford. We are trying to be very upfront with him about what we can afford but I also want to make sure these assumptions are valid?