<p>Have your run the EFC estimator? Have you run NPCs for Yale, and some other schools that guarantee to meet full need? Colgate is a good one, IMO as they have no merit, but meet full need and give a good idea what you are expected to pay at a private college that uses PROFILE, in one of the best case scenarios with the exception of schools like HPY with their own formulas. </p>
<p>Here is what your problem will likely be if you get EFC?NPC of say $35K. If your son should get any scholarships, those awards do not reduce that $35K . Oh no, no, no. You still are expected to pay $35K if the school costs more, and the awards he gets cuts down what the school financial aid department will pay… So for many of us it’s a net zero game when we are looking for merit awards from a school and have some financial need too, and want that merit to reduce the cost AFTER financial aid. Doesn’t work that way. </p>
<p>As I said earlier, your EFC is likely to be the very least you will be expected to pay anywhere, and many schools’ NPC will be even higher than that as PROFILE looks at a lot more things. And most schools will not even meet need-on your list, I think only Yale and USC do guarantee to do so, and Yale does not give a penny of merit awards. IT all goes by pure financial need. As I just suggested, run your numbers through their NPC, and it’ll give you a good indication (if you don’t have unusual finances) of what Yale will give you. No scholarships there,. I don’t think they give BFAs either, do they? I don’t think Yale’s undergrad program is audition based.</p>
<p>NYU does not tend to meet full need, though they will provide nice packages for those who they want the most, but again, when there is need/merit, it is integrated. Unlikely to get them to bump it up. </p>
<p>As Megpmom, says, you are likely to come up with exactly the same amount at all but low sticker priced schools in terms of what they expect you to pay. </p>
<p>How much are you able to pay out of pocket vs how much do the calculators expect you to pay? That is the big quesiton. That is where a big gap is going to be even with the most generous of awards unless your son gets a huge merit award that covers it all which is highly unlikely especially from those schools on your list. </p>
<p>And you are right. Loans can be a drag when your kid is going into a field where employment is scarce and pay is low. The loan still have to be paid. It’s been a relief that my son at least has no school loans. It’s been tough enough without them.</p>