I was accepted into Colgate this spring and I’m trying to make sure it will be affordable for all four years. My EFC offer is $24,000, which is really excellent, in my opinion. Its also really appealing because, since I was accepted into the AMS program, the difference was made up for entirely with grant aid- no loans as long as I stay in the program. My concern is that my brother is a junior in college, so he is going to graduate next year and that will obviously change my EFC.
I was wondering. if anyone else has been in this situation before, specifically for Colgate, if they could share how much their EFC changed when their sibling graduated.
Thanks!
For an estimate…run the Colgate Net Price Calculator with the same income and assets, but only one student in college. That should give you an idea.
@thumper1 I tried doing that earlier, but their net price calculator came up with a much higher price than 24,000. So I’m not sure why, but for some reason my numbers don’t seem to work with that estimate.
Are you saying that their net price calculator came up with a higher net price for you THIS year?
@thumper1 Yes, and I believe I entered all of the information accurately.
I’m guessing it’s because my parents are divorced and that makes it a bit dicey. To get an accurate estimate of your family’s EFC in this situation, you usually combine your EFC from one parent and the EFC from your other parent. But this resulted in the much higher price. So I’m not sure how they’re interpreting it.
Even so…what is the difference when you say there is only one college student enrolled?
We met with the financial office at each school and asked for the estimated increase. They wouldn’t guarantee it but all ran the numbers and gave us an estimate.
Most schools that do generous grant aid say with 2 in similar cost schools expect each pay 60% of the EFC so if you need to make a basic estimate a 40% increase would be a reasonable guess but better to meet with financial aid to see if they can give you more exact numbers.