Anonymous wrote:

Anonymous wrote:We make more than 180K and our kids both got merit aid at decent LAC's. There's some formula you can find on College confidential.com that has to do with the size of the school's endowment, and it involves looking up the school's tax records, rather than going by what's on their websites. We're grateful that both of our children go to schools with really large endowment where there is extra money 'floating around' to finance summer internships in other cities, study abroad, etc. in addition to the merit aid.

The poster above is incorrect when she says not to even bother. There are some schools where something like 80 percent of the students receive some financial aid. That includes people at the upper ends as well as the lower ends. Particularly people with multiple kids in college at the same time.

You are conflating merit and (not need-based) and financial aid (purely need-based). If your HHI is >$180,000, then at some schools, it doesn't matter how fabulous a student you are - you will not get any need-based aid. These are the schools at the top of the USNWR rankings. Therefore the PP who says "don't even bother" is correct, because these schools will not give you any aid. None. Zilch. Zip.

If you go down those USNWR rankings, however, to lower-ranked schools that do give merit aid - not need-based; merit-based - then yes, you should look closely at your options. You could be a billionaire, but if your child is a high-performer who scored well on SATs/ACT, then those schools will give your child significant scholarship money.

By using the Net Price Calculator (NPC) for each of these schools, you can guesstimate what kind of merit aid your child is likely to get, and what the bottom line will be for you to pay for tuition, room and board.

It is true some top tier schools (Ivy schools mostly) do not offer merit aids but most schools DO have merit aids.

Anonymous wrote:@11:04 - You are so wrong. I don't even know how to respond.

Seriously?
11:04 is spot-on.
We're playing this out right now and 11:04 is correct. Perhaps things work differently on your planet.

Anonymous wrote:McGill should be about 25k for US students.

University of British Columbia, too

Anonymous wrote:

Anonymous wrote:We make more than 180K and our kids both got merit aid at decent LAC's. There's some formula you can find on College confidential.com that has to do with the size of the school's endowment, and it involves looking up the school's tax records, rather than going by what's on their websites. We're grateful that both of our children go to schools with really large endowment where there is extra money 'floating around' to finance summer internships in other cities, study abroad, etc. in addition to the merit aid.

The poster above is incorrect when she says not to even bother. There are some schools where something like 80 percent of the students receive some financial aid. That includes people at the upper ends as well as the lower ends. Particularly people with multiple kids in college at the same time.

You are conflating merit and (not need-based) and financial aid (purely need-based). If your HHI is >$180,000, then at some schools, it doesn't matter how fabulous a student you are - you will not get any need-based aid. These are the schools at the top of the USNWR rankings. Therefore the PP who says "don't even bother" is correct, because these schools will not give you any aid. None. Zilch. Zip.

If you go down those USNWR rankings, however, to lower-ranked schools that do give merit aid - not need-based; merit-based - then yes, you should look closely at your options. You could be a billionaire, but if your child is a high-performer who scored well on SATs/ACT, then those schools will give your child significant scholarship money.

By using the Net Price Calculator (NPC) for each of these schools, you can guesstimate what kind of merit aid your child is likely to get, and what the bottom line will be for you to pay for tuition, room and board.

NPC guesstimates merit aid? You mean FA, right?

Anonymous wrote:@11:04 - You are so wrong. I don't even know how to respond.

Not 11:04, but I think you don't even know how to respond because you don't know what you are talking about. 11:04 is dead on. There is a difference between need-based financial aid and merit-based aid. And schools vary greatly in what they offer and how much they offer. Most of the elite colleges offer ONLY need-based financial aid, and those that do offer merit-based aid usually offer very little of it. (Duke, e.g., offers large merit scholarships to just a couple of students each year.) Outside of the elite schools, many privates offer both financial aid (but may not meet a student's full financial need) and merit aid. Many public schools offer merit-based aid only to in-state residents (all the UC schools, which are prohibited by law from giving money to out-of-state students). Some public schools offer tons of merit aid to OOS students (Alabama, e.g).

http://www.thecollegesolution.com/dont-let-colleges-snooker-you/

http://www.muhlenberg.edu/main/admissions/therealdealonfinancialaid/

http://www.thecollegesolution.com/would-you-pay-47000-for-the-university-of-oregon/

http://www.thecollegesolution.com/case-study-what-66-schools-would-cost-this-family/

Our HHI is $220 and according to FAFSA, our expected family contribution (EFC) is $59,876/year. We can afford up to $37K/year or so.

Our child is a great student but did not apply to schools that don't give merit aid because of our EFC. It would be used as the measure of what we "need" and it is completely wrong.

Anonymous wrote:@11:04 - You are so wrong. I don't even know how to respond.

Give it a try.

@11:04 - You are so wrong. I don't even know how to respond.

Anonymous wrote:We make more than 180K and our kids both got merit aid at decent LAC's. There's some formula you can find on College confidential.com that has to do with the size of the school's endowment, and it involves looking up the school's tax records, rather than going by what's on their websites. We're grateful that both of our children go to schools with really large endowment where there is extra money 'floating around' to finance summer internships in other cities, study abroad, etc. in addition to the merit aid.

The poster above is incorrect when she says not to even bother. There are some schools where something like 80 percent of the students receive some financial aid. That includes people at the upper ends as well as the lower ends. Particularly people with multiple kids in college at the same time.

You are conflating merit and (not need-based) and financial aid (purely need-based). If your HHI is >$180,000, then at some schools, it doesn't matter how fabulous a student you are - you will not get any need-based aid. These are the schools at the top of the USNWR rankings. Therefore the PP who says "don't even bother" is correct, because these schools will not give you any aid. None. Zilch. Zip.

If you go down those USNWR rankings, however, to lower-ranked schools that do give merit aid - not need-based; merit-based - then yes, you should look closely at your options. You could be a billionaire, but if your child is a high-performer who scored well on SATs/ACT, then those schools will give your child significant scholarship money.

By using the Net Price Calculator (NPC) for each of these schools, you can guesstimate what kind of merit aid your child is likely to get, and what the bottom line will be for you to pay for tuition, room and board.

We make more than 180K and our kids both got merit aid at decent LAC's. There's some formula you can find on College confidential.com that has to do with the size of the school's endowment, and it involves looking up the school's tax records, rather than going by what's on their websites. We're grateful that both of our children go to schools with really large endowment where there is extra money 'floating around' to finance summer internships in other cities, study abroad, etc. in addition to the merit aid.

The poster above is incorrect when she says not to even bother. There are some schools where something like 80 percent of the students receive some financial aid. That includes people at the upper ends as well as the lower ends. Particularly people with multiple kids in college at the same time.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, DC did - $100,000 over four years but I'd rather not say where. One of the little known secrets is that College Board and ACT sell their scores. So if your child scores very high and has listed some qualities that a particular school wants (on the questions starting at the top of the tests), then schools can buy the lists and solicit. DC participated in well known leadership program during the summer so received unsolicited offers from military academies. I'm assuming that list was purchased or newspapers were just scanned. DC scored extremely well on the ACT so has been receiving "pre-application" offers of scholarships. But they are not from schools DC wants to attend. The schools either need the high ACT scores to boost their ratings on the US News & World Report or they need males or they need minorities, etc.

OP here. $100K over four years will not meet our budget at a private college. Most cost $60K or more now, even the relatively small, not very selective ones.

The sad reality is that $100k over four years may not be enough to pay for your in-state public, either. For Virginia residents, the cost of attending W&M was ~$30k this year; UVA was ~$28k. Other VA schools are cheaper.

That's why I suggested that OP's kid stay home and do community college for two years and then transfer to a state university. FWIW, the tuition at GMU ranges between 9,900 and 10,500 (you pay be the creidt) and room and board is MORE than tuition at $14,000, so annual outlay for everything is $24,000. The fees at VA schools vary somewhat but if OP is willing to file for the FAFSA and go through tthe financial aid process, I'm pretty sure she'll find something workable with work-study options or loans. If not, then you still have secured an admission. Go back and take two years at community college (make sure your child knows the classes that are required by the VA university they want to attend and the GPA they must attain - they differ for each university) and then transfer for those last two years. Viola! UVA on $60K or less.

I know a number of kids who got merit aid from state schools, and others who got lots of SLAC merit aid. These weren't straight A kids, although they did fine, and their HHI is $200K+.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DS is a junior. We're starting the college search. We don't qualify for FA, but can't afford more than $25K per year.

He's applying in-state, but wants a few more options. (3.87 unweighted gpa, but poor PSAT math scores, probably English/theater major). He's considering East Coast schools that offer merit aid like Juniata, Ursinus, U Vermont, Allegheny, Lesley, Fairfield, Muhlenberg, Mary Washington, Saint Michael's, Clark, Washington College (MD), College of New Jersey, etc.

BUT, I'm wondering, has ANYONE with similar stats received more than $30K in merit aid at any of these or similar private colleges? Anyone received in-state price at public OOS schools?

I don't want to waste our time applying if there's no hope that merit aid awards will bring DS's cost down to around $25K.

Thanks!

Wrong approach. You need to apply and let it play out.

Worst advice EVER.

I don't think it is. Unlike FA which you can estimate using the NPC, merit aid is harder to estimate. We have gotten a lot more from schools we didn't expect and (in some cases) a lot less than expected from others. Unless you apply, you would never know for sure.

Yes, but first you have to eliminate the schools that don't give merit aid (or give it only to a very small number of students).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DS is a junior. We're starting the college search. We don't qualify for FA, but can't afford more than $25K per year.

He's applying in-state, but wants a few more options. (3.87 unweighted gpa, but poor PSAT math scores, probably English/theater major). He's considering East Coast schools that offer merit aid like Juniata, Ursinus, U Vermont, Allegheny, Lesley, Fairfield, Muhlenberg, Mary Washington, Saint Michael's, Clark, Washington College (MD), College of New Jersey, etc.

BUT, I'm wondering, has ANYONE with similar stats received more than $30K in merit aid at any of these or similar private colleges? Anyone received in-state price at public OOS schools?

I don't want to waste our time applying if there's no hope that merit aid awards will bring DS's cost down to around $25K.

Thanks!

Wrong approach. You need to apply and let it play out.

Worst advice EVER.

I don't think it is. Unlike FA which you can estimate using the NPC, merit aid is harder to estimate. We have gotten a lot more from schools we didn't expect and (in some cases) a lot less than expected from others. Unless you apply, you would never know for sure.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DS is a junior. We're starting the college search. We don't qualify for FA, but can't afford more than $25K per year.

He's applying in-state, but wants a few more options. (3.87 unweighted gpa, but poor PSAT math scores, probably English/theater major). He's considering East Coast schools that offer merit aid like Juniata, Ursinus, U Vermont, Allegheny, Lesley, Fairfield, Muhlenberg, Mary Washington, Saint Michael's, Clark, Washington College (MD), College of New Jersey, etc.

BUT, I'm wondering, has ANYONE with similar stats received more than $30K in merit aid at any of these or similar private colleges? Anyone received in-state price at public OOS schools?

I don't want to waste our time applying if there's no hope that merit aid awards will bring DS's cost down to around $25K.

Thanks!

Wrong approach. You need to apply and let it play out.

Worst advice EVER.

How so?

Generally speaking, people with family incomes north of $180k (i.e., DCUM "middle class) and two kids will receive ZERO financial aid. Let me say that again: ZERO. The cost to attend college will be in the neighborhood of $60k per year unless the student goes to an in-state public or an OOS public with reasonable OOS tuition (i.e, not Michigan, UVA, W&M, or any UC), or unless the student is awarded merit aid by a private college that gives merit aid. (Most of the USNWR top-rated schools give financial aid only, no merit aid.)

Estimate your expected family contribution using the on-line estimator and look at that number closely. It's likely a low-ball of what colleges will expect you to pay. If you can't afford that number, it's time to take a good, hard, realistic look at where your kid can go to college. If you can't afford your EFC, your kid should not waste any time looking at Ivy League schools and their ilk.