<p>Im starting a new thread cause this is going to be a compilation of information. ( and opinions)</p>
<p>Of course too late for seniors now choosing where they are going to attend next fall.
Feel free to add- and I will try to keep my thoughts organized.</p>
<p>First off- figure out what you can pay through savings- loans and income.
Include student in discussion, expect student to contribute through taking small loans & through summer and school year work, if needed.( ideally as soon as college is on the horizon)</p>
<p>I know this isn't recommended by all, including our high school counselor, but even if you decide to take on more debt for a top choice, you at least at the outset should have some idea of what sort of numbers are manageable.</p>
<p>Be aware there are many routes to 4 year degree.</p>
<p>Successful college graduates have put off college for a year or so after high school, have attended community colleges first or even attended college for a couple years, took time off to work and explore and came back ( sometimes after becoming an independent student at 24) to school.</p>
<p>While some schools do offer merit aid, and some schools do offer packages that meet 100% of need- those are not usually the same schools.</p>
<p>Instate public schools may offer merit aid, or they may not. As many schools are seeing increased applications, they may just offer merit to students that they really want to attract. ( and it may not be for 4 years)</p>
<p>Out of state public schools don't offer need based aid generally to out of state students or internationals. They may offer merit aid, but I wouldn't look at it as a guarantee for all 4 years.</p>
<p>Out of state schools can be very expensive. While room and board is the same for all students, tuition and fees are usually underwritten by state taxpayers for students staying in state. Out of state students are charged full price.</p>
<p>Do be aware of this.
When you see numbers of students receiving aid- be sure to investigate if those are in state or out of state students.</p>
<p>Private schools on the other hand, can seem like a bargain.
They charge the "same price for all" .</p>
<p>However, when additional information is used to determine your EFC, it may become higher than when just using the FAFSA.</p>
<p>Also- even when schools meet 100% of need- that will include loans, work study as well as grants. And again FAFSA may determine your EFC is $3,000, but a private school using PROFILE, might determine your need is $8,000.
If they offer you a package that covers expenses over $8,000, they can say they met 100% of your need.</p>
<p>Im not trying to discourage anyone- just to share, what I have learned.</p>
<p>And those are the schools that meet 100% of need.</p>
<p>Most private schools do not. They may meet 70% of need the first year, possibly to attract more students. But when you are a sophomore, your package may just meet 49% of need, and it might even go down from there.
Dont be afraid to ask. If you really like the school, you want to find a way to attend.</p>
<p>Another thing I have learned-* some schools* while they may give impression of being totally need based, ( increasing prestige) may have school related private scholarships that are merit based, making the school still a possibilty for students whose EFC indicates they don't qualify for aid.
Look through the schools website for sources-</p>
<p>Within need, schools will offer a package with more grants to students that they decide have more "merit".
Declining work study/loans, doesn't mean they will give you more grants to make up for it.
Work study money- as part of your financial aid package- will not * count* as available income when determining next years finaid package.</p>
<p>I am a big fan of work study. I think it can give you an opportunity to meet more people on campus than you would otherwise. It gives you work experience, helps you structure your time & especially if you can find a work study job, as opposed to an outside job, it can be much more flexible when you need more time to study.</p>
<p>"Negotiating aid"
Many families I am imagining, are surprised by their EFC. Even stunned.</p>
<p><a href="http://www.finaid.org%5B/url%5D">www.finaid.org</a> for a calculator.</p>
<p>Our own experience was with 4 public schools ( 3 instate) and one private.
While I tried to argue that our expenses, ( including medical) should be subtracted from our EFC at the private school- I wasn't successful.</p>
<p>( However, when our income did change, they did adjust the aid package quickly & the year we were able to file a 1040A instead of 1040, D received a larger aid package)</p>
<p>But, students who apply to more than one private school, and to schools that are comparable, but offer different aid packages, may be able to get them to reconsider the particulars, and offer more aid.</p>
<p>So I hear ;)</p>
<p>I hope this is helpful and for you seniors who are trying to figure out what works for you and your family, good luck.</p>