Can anyone help estimate OOP expectation?

Paying for College
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<p>I completed my FAFSA based on my 2012 taxes. My EFC on the SAR is 0. According to my accountant there will not be a significant change on my 2013 taxes.</p>

<p>Can anyone help estimate OOP for OOS school with a cost of approx. $33,000? D above avg. student...probably not in position for good academic or sport scholarships. According to College Board tab "Financial Aid Distribution" % of need met: 40% (not good right?)
% of freshmen with need who received financial aid: 100%</p>

<p>Do they penalize you for being OOS by not giving you enough aid? Even though your EFC is 0? Or is the penalty in the increased tuition expense?</p>

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<p>Most State schools do not promise to meet full need even for their In State students. For instance, our State Us do not offer any need based aid other than what is offered by Federal and State. I believe there are only one or two State Us that promise to meet full need for OOS students. In most cases, OOS will not offer more need based aid to OOS students. </p>

<p>I do hope your D has applied to some In State schools and some that she might qualify for merit aid at.</p>

<p>EFC is a bit of a misnomer really. At most schools, you will pay more than the EFC.</p>

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<p>What is OOP??</p>

<p>Anyway, your EFC is meaningless to nearly all OOS publics (exceptions are UVA and UNC). </p>

<p>Think about it…OOS publics charge a high OOS cost for a reason. You don’t pay taxes there. Why would they bother to charge high OOS rates if then they had to go to their very limited budget and hand out need-based aid to cover those high costs. That wouldn’t make sense. Why bother to charge OOS rates??? The schools would go broke!</p>

<p>Publics usually have little money to give out for need based aid. Publics rely on fed and state aid to help instate kids. OOS kids don’t get the state aid. All you’d get is the fed aid (which is very little money.)</p>

<p>Some publics give merit for high stats, but you’ve indicated that your child won’t qualify.</p>

<p>So, you’ll likely be given:</p>

<p>a $5600 pell grant (fed)
a $5500 student loan
maybe some work study
maybe something else small</p>

<p>So, very, very likely that school will not be affordable.</p>

<p>Have you run the NPCs on each school’s website?</p>

<p>EFC is a misnomer. It doesn’t really mean what you’re supposed to pay. It’s just a number to determine if you qualify for small amounts of fed aid. </p>

<p>No school is req’t to do ANYTHING with EFC except see if you get some small federal aid. Schools are not obligated to meed need…not at all.</p>

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<p>Thanks for the reply. Yes, she has applied to one in state school. Spoke with someone who has a child at this in state school and another at the OOS school where my D wants to go. She said the OOP was pretty much the same. I don’t get it. I have a lot to learn!</p>

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<p>All it means when it says that 100% of kids with need rec’d aid is that everyone got AT LEAST a student loan.</p>

<p>According to College Board tab “Financial Aid Distribution” % of need met: 40% (not good right?)</p>

<p>Yes, that is bad…especially if it’s a school that is mostly populated with instate students whose costs are much lower. For OOS students, the % of need met would likely be lower unless the OOS kids are all affluent or big merit winners.</p>

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<p>Mom2collegekids…OOP (Out of pocket)…your reply helped a lot. I did the NPC for all four schools she applied to. They all were pretty close. But so many people post that the NPC is not accurate. Boy, my head is spinning trying to understand this all! All of your posts have been very informative! Thanks.</p>

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<p>i see that your D is an education major and the choices are Rowan or West Chester. this will be a no-brainer. Go to the instate school.</p>

<p>Without the family money to pay, only the instate choice would work. an education major certainly isn’t worth a bunch of debt. </p>

<p>Hopefully you’re instate for NJ because the state has state aid to help. a PA school isn’t going to give you much at all.</p>

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<p>If you are OOS for West Chester and have a 0 EFC, then your answer can be found on its NPC on the school’s website:</p>

<p>B. More Information on Grant Aid</p>

<p>Tip: This net cost estimate is your approximate cost after grant aid. Grant aid is money that does not have to be paid back. Estimates of grant aid include federal aid programs and may include other need or merit aid.</p>

<p>Estimated Grant Aid (typical range $5,550.00 to $6,850.00) $5,550.00
Your Estimated Net Cost after Grant Aid $30,070.00</p>

<p>C. More Information on Student Loans and Other Aid
Tip: This cost estimate is your approximate cost after grant aid, subsidized student loans and/or any other other aid. The money from any loans must be paid back when you leave the institution</p>

<p>Estimated Subsidized Student Loans (typical range $0.00 to $7,466.00) $3,466.00</p>

<p>Estimated Other Aid (may include state or institution programs based on need or merit) $1,980.00</p>

<p>Your estimated Net Cost after Grant Aid, Student Loans, and Other Aid…$24,624 per year</p>

<p>With an EFC of 0, I’m guessing that you can’t pay $25k per year. </p>

<p>Run the NPC on the Rowan website. I hope you’re instate for Rowan.</p>

<p>A. Cost of Attendance Breakdowns for this Institution
Estimated annual tuition and fees $18,446.00
Estimated room and board $12,074.00
Estimated books and supplies $1,500.00
Estimated other expenses (transportation, personal, etc) $3,600.00
Your Estimated Total Cost of Attendance Without Grant Aid…$35,620</p>

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<p>We are indeed NJ…but this is where I get confused b/c of what I posted before…
“Spoke with someone who has a child at this in state school and another at the OOS school where my D wants to go. She said the OOP was pretty much the same. I don’t get it.” And it was not a situation where one got more merit/scholarship money than the other.</p>

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<p>I am going to do the NPC again for each school. Thanks.</p>

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<p>Spoke with someone who has a child at this in state school and another at the OOS school where my D wants to go. She said the OOP was pretty much the same. I don’t get it. I have a lot to learn!</p>

<p>we don’t know this person’s situation. the OOS student may have had high stats and was awarded big merit.</p>

<p>Does West Chester give instate rates to OOS students who live in a border city? </p>

<p>Again, an OOS public isn’t going to help an average student afford their school. Why would they?</p>

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<p>Stop talking to OTHER people about THEIR financial aid. All that really matters is what YOUR student receives. The Out of Pocket expenses for one family can vary significantly from family to family even for OOS students. Every financial aid application is processed for that individual kiddo. you have no idea the specifics of calculating another student’s award package. What another student receives really has NO bearing on what YOUR student will receive.</p>

<p>At this point, I hope you have discussed bottom line costs with your kiddo. Just be prepared to walk away from ANY offer that does not meet your financial criteria as a family, and will strap you financially. </p>

<p>The instate schools in NJ provide very fine teacher education programs. And the price could well be within your means.</p>

<p>An OOS school in PA will likely NOT provide you with adequate financial aid. </p>

<p>At this point, wait and see. You can compare YOUR out of pocket costs once you receive your financial aid packages!</p>

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<p>Ok…I think I’ve figured out the mystery…</p>

<p>Rowan’s instate tuition is $12,300
West Chester’s OOS tuition is 18,450</p>

<p>Not a huge difference. If that family has a high EFC, then they’re not paying a huge difference. What is that family’s EFC? </p>

<p>If they have a low EFC, then I don’t believe what was said…unless some kind of merit award was involved or some other financial source (GI bill, etc).</p>

<p>* I did the NPC for all four schools she applied to. They all were pretty close.*</p>

<p>Are you saying that the NPC for Rowan showed about the same cost? That doesn’t seem right. Doesn’t NJ give aid to low income students??</p>

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<p>Rowan would be far less expensive</p>

<p>You’d get full Pell, TAG (NJ aid), and maybe a Rowan grant… </p>

<p>you’d get between $12k and 16k in grants from Rowan (depending on D’s stats)</p>

<p>After fed student loans, your D’s costs would be almost nothing or very little. She could work over the summers to cover any small gaps.</p>

<p>This is such a no-brainer. Instate public (or a private that gives super aid) is the only option.</p>

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<p>Yes, just did the NPC for Rowan…the numbers came out much different than last time…and I made sure my numbers based on my 2012 taxes were accurate.</p>

<p>The net price after grants/scholarships/NJ Tag came to $4221. Very affordable. I am shocked. Of course, I will really believe it when I see the final package! Usually an optimist, but have been “beat up” lately!!</p>

<p>Thank goodness my D is reasonable, realistic and understands the uncontrollable circumstances of the last two years economically. Will she be disappointed? Yes. But she is not a brat and will understand. She has a job and works many hours, bought her own car, etc. It just sucks b/c my husband and I work so hard and were proud to offer her a “choice”…not complaining…just explaining. Damn Storm Sandy!!!</p>

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<p>*Yes, just did the NPC for Rowan…the numbers came out much different than last time…and I made sure my numbers based on my 2012 taxes were accurate.</p>

<p>The net price after grants/scholarships/NJ Tag came to $4221. Very affordable. I am shocked. Of course, I will really believe it when I see the final package! Usually an optimist, but have been “beat up” lately!!*</p>

<p>Those are exactly the numbers I got when I did the Rowan NPC. With your 0 EFC, your D qualifies for a good state grant.</p>

<p>What are your D’s stats? I put in an ACT 26 and a 3.5 GPA…and it came out with a small extra merit/grant.</p>

<p>Then it showed that your D could take a Direct Loan to cover the $4k. I would strongly suggest that your D work over the summer to minimize any loan needs…and only take subsidized if needed. </p>

<p>Congrats!!! Looks like Rowan it is! :)</p>

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<p>Squanmom, most of the time, the in state aid will be much better. For most of our kids, the least expensive choice was in state public. One exception was a full tuition scholarship that a private school did offer one son. He could have commuted (it’s a local private college) to their for less than community college where he would have had to pay tuition and the commute would have been more. My oldest got a full athletic scholarship to a private college out of state, which would have been his least expensive option. But as a rule, nope, instate schools are the least in terms of net cost.</p>

<p>Now, my one son does go to an OOS public. We do pay the premium, and the net cost is about double what it would cost for him to go instate, but we are able to do it, so we pay. He knows the cost differential, but chose to do so anyways. However, there are OOS kids who did get scholarships from that school that made it free or far less than their own instate options It all depends on your package, and how much the school chooses to give you. Many schools do give their own state kids preference in aid awards, but merit money is often a whole other story, so if your student can get true merit money, it is possible to do better with a private or OOS public than an instate school But all things equal, most of the time, the instate choice will be better. So “play the lottery” and see what gives, but understand where the odds are the best. </p>

<p>Look at Albright college in PA. They do meet full need using FAFSA EFC for tuition, room and board. The only school i know that will do that. And give West Chester a whirl. Who knows, they may give your DD a package that is above average. The NPC gives out avearages. But for instate, there are certain entitements you can count on; not so with OOS. You know that you will get PELL if the numbers are there, you know you can get state aid, again if you toe the line in applying and are eligible, and many state schools will meet full tution costs. Then there is that subsidized loan guarantee that the federal government gives, as well as unsubsidized though Direct Student loans. The rest is all a big Wheel of Fortune.</p>

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<p>I will wait and see all packages…but I think I have been slapped by a good dose of reality today! Ha
Sincere thanks to everyone who has given me very valuable feedback…much appreciation.</p>