Is $45k your net income? Financial aid is based on your gross income. @Thumper1, isn’t the cut off for the simplified need test ~$50k (gross)? So if OP’s gross is $50k+, their assets will be counted?
OP, I’d run the net price calculator on every school your daughter is interested in and I wouldn’t let her apply to any that are unaffordable. Be honest with her about your budget before she starts applying and let her know that any schools whose packages are unaffordable will have to come off the table.
@pamelamk The majority of kids go to their instate schools. I know @Mom2aphysicsgeek mentioned going to UF is you are happy. For most kids it is not about happy but what we can afford. Not many parents can provide a dream life for their kids. My son wants a Tesla (not the cheap one) or a Porsche for his first car. He doesn’t get to get his dream car. I don’t have my dream car. We drive ours until they die. This is such a short, short time in their life in which they simply need to prepare for their future careers. Debt will handicap them. They have their whole life to live in a big city (though most normal people can’t afford to live in Boston). You can only do what you can afford. Dream schools aren’t a reality for most kids, even the hard-working ones who “deserve” their dream, any more than dream cars. You haven’t failed your child by only being able to provide normal options. In fact, it looks like she will be able to go to a Florida option debt free. A huge gift and she can always have an elite grad school experience when she is ready. That is what most people do. You’re lucky you’re in Florida and have amazing options.
The reality of college affordability is extremely deflating. The only way around is to find schools with automatic merit.
or to stay in State. You should be able to find some great schools with her stats. I used to think my DD stats were incredible only find that they are not good enough for Merit at many of these “dream” schools . Keep in mind that I was measuring her stats (4.14 GPA and 29 ACT) against my 80’s stats LOL!!! She would be lucky to get into UF or UGA with stats Some people on these boards would consider her “average”. By no means she is average .She is brilliant!!! She usually gets a 36 on the “common sense” ACT subject. Because of this, she understands the term “affordability”. and being “open minded” …Your daughter might be able to get a free ride at Arizona State Barretts Honors which is in Phoenix. Just got to think outside the box and be open minded.
Sometimes, the hard reality of affordability is bigger than a teen can chew on. By all means, emphasize the glass half full, the wonderful opportunities at UF (or another affordable college,) what a little money left in the budget translates to, for her. Things like study abroad or the chance to take a lower paying summer internship.
The income for fin aid is the AGI, income before taxes. If you are applying to profile schools, certain deductions you’re allowed that reduce AGI will be added back in. You are, in all probability, looking at an income much higher than 45K.
We’re a family that followed the money, but the kids knew that’s what had to happen, even before the first application was sent, and the lists were very different than the typical cc list.
@gearmom You misrepresented what I wrote. You stated, “I know @Mom2aphysicsgeek mentioned going to UF is you are happy. For most kids it is not about happy but what we can afford.” Did you miss the the entire part about affording UF at the beginning of that sentence?
The OP said her Dd was applying to UF. If they can afford it and the Dd would be happy at UF, then there is no real crisis. However, I disagree that a student with a 33 has no options when they have some funding ($25,000 worth??? That is more than double than our kids’ budget. That number on their income makes me cringe). It is why I stated they needed to rethink her list immediately. She has the ability to earn merit at multiple schools. If she thinks she would be miserable at UF (not sure why she would apply), she needs to add affordable schools that she would be happy to attend to her list. Not dream schools. Affordable schools.
Fwiw, I find it laughable that anyone could read my posts and think I advocate attending any school that does not fit a family’s budget. The rest of that post went on to say, “We start with budget and then generate a list.”
And continuing with the glass half full theme. Here are the best college cities in America with Tuscaloosa (University of Alabama) at #48, Tallahassee at #18 and Gainsville at #11. Not to shabby for Florida. https://www.bestcollegereviews.org/50-best-college-towns-america/
She could study or intern abroad. That would be a big experience. My son is going to spend a year in Japan. He goes to our state school which is what we could afford without debt for him (he didn’t want any debt). He also drives the Grandma-mobile. He’s my only one that gets the 36 ACT for good sense @mrminsky Great way to put that. Mr. Tesla, my youngest, is going to be more tricky.
@Mom2aphysicsgeek Wow. I was in no way trying to imply that you were promoting unaffordable advice. I always find your advice practical and with good common sense. I probably should have worded with more care. Actually I probably shouldn’t have tagged you when addressing the common definition of safety, a university that you can afford and be happy to attend which is a reasonable expectation. I just wanted to address that part of the safety definition, because I didn’t want @pamelamk to feel bad if her daughter didn’t feel like she was going to be happy at a place like UF especially when all the dream places are elite and OOS. In no way did I mean this a slight or criticism of your good advice. Sorry about that.
Thanks everyone for so much advice, so my D and I sat down and revisited her list, and we took some out, her dream school is Northeastern ( she like the Co-op program there) (we kept that one) but added Elon, High Point, In regards to UF she will apply, (my husband took her in the summer to visit) she didn’t like it at all, BUT she said that if it comes down that thats her option (More than likely she will have full ride because of FL bright future) she will go, knowing my daughter I don’t think she will be happy at UF, Any advise on affordable good schools in the NE?
I don’t know anyone who has gotten a better deal at Northeastern than 30-40k per year. What is her major? Plenty of schools have and encourage internships. I had two during my time at a state school.
If you did a FASFA only school in NE. And your budget is 25k. There are publics in Maine. U Maine at Orono and U Maine at Farmington which is a public LAC. URI would come on budget probably and if she was considering pharmacy, nursing, ocean related studies or engineering/international engineering (huge new complex ready soon) that might also be an option. Knowing her major would help. As someone mentioned there are no unicorns for a 33 ACT. And CSS schools do not work in your favor, not that many schools meet need and those that do are hard to get into.
You could try Colby also and see how your inheritance affects the NPC. They meet need and her stats would match.
DadTwoGirls : May I ask what out of country small university your daughter attends? We’re in the same boat. Close to retirement. My daughter would definitely consider out of the country.
There are many people who attend dream schools and are then miserable with the huge debt burden and limited job choices because they have to live with their parents. They have to be able to adapt and not always be happy and come through that. That would be sad if she could not figure a way to find happiness at a top school in Florida. School is your job and it’s only 4years. You’re not sending them on vacation. If she has AP credit, she could shorten her time. Or study abroad for a year.
