<p>I've always been skeptical about claims that with good merit aid, a private school can cost the same as a public. But now I'm a believer. With the merit aid offered, it would cost $200 more a year for Son to attend his #2 choice - a good private - than to attend his state (nonflagship) safety.</p>
<p>congratulations! can you say which private 'showed him the money'?</p>
<p>It costs us less for D to go to her private than it would for her to go to our very well respected flagship. She transferred this year from another private, which was also less expensive than the flagship. I am also a believer!</p>
<p>Yes, but you can't really generalize in either direction. It CAN be cheaper to attend a private, depending on how much need-based and/or merit aid the individual student receives at both the private school and at the public competitor. But those things vary widely by family income, by school, by state (for the publics), and often by the individual FA award the student receives. Here's a useful chart put together by a group called the Project on Student Debt. It calculates estimate net cost-of-attendance (= cost of attendance, less grant aid only, on the theory that "self help" aid like work/study and loans are not really "aid" so much as a means of self-financing college costs). </p>
<p>It shows that for families earning under $80K/year, it's often (though not always) cheaper to attend an elite private school than a nominally cheaper public flagship. Above $80K/year, it's usually (though not always) cheaper to attend the state flagship, sometimes by a factor of two- or three-to-one. Individual circumstances may vary. This chart also does not take merit aid into consideration, though merit aid is not available at most of the super-elite private schools listed here.</p>
<p>im right with you...gwu just sent me an AWESOMEEEE aid packageee...i was really surprised and shockedd..i am so happy with it and it comes out to be about the same as a public school...thanklssssss gwww</p>
<p>I would be conservative and not assume that a private's college's endowment is going to remain stable for the next four or five years.</p>
<p>Endowments might shrink and budget cuts might impact states. No matter where you go, the aid may be less in a two or three years.</p>
<p>Absolutely, Landshark. This is why it might make more sense, as a worst case scenario, to wind up paying $13000 a year as opposed to $45000.</p>
<p>I also do not know how folks are getting the PLUS loans. I understand that the Stafford loans do not take one's credit or income into account (how could that be??!), but there is a disconnect between the current credit markets and some parent strolling up to B of A to borrow 31K with a limited income.</p>
<p>My son ended up at a private school which had the highest price tag among the 5 he was accepted at, but the lowest cost to us with the FinAid he received. The real lesson here is for juniors developing their school list and seniors deciding where to apply. Never eliminate a school because of a high sticker price without looking into the aid the school offers. The catch is that most of the schools offering great aid are top 50 LAC's and Nat U's.</p>
<p>LindaC, many parents are being turned down for PLUS loans. It's a problem. Alt loans are even harder to get.</p>