<p>When I run my family's EFC through collegedata's net cost calculator, I'm surprised at how wide the range of predicted awards is among what seem like otherwise similar schools. These numbers could affect our thinking about where to apply, if they're at all reliable. Are they?</p>
<p>I can’t directly answer as we didn’t use collegedata, but that does sound reasonable. College FA packages can fluctuate wildly between schools depending on institutional aid available (need and merit based), and the criteria or policies the schools use to distribute it. The only constant in my D’s awards were federal and state aid.</p>
<p>You might check the “average percentage of need met without loans” figure for these schools. My guess is that there’s some significant variations. Also, if collegedata is predicting merit awards, that could be tricky since not all schools have “instant” awards for a certain gpa + test score.</p>
<p>They say they’re predicting only need-based aid. The estimates vary by as much as $20K, and often by $7-10K, for schools of roughly similar cost, size, and selectivity. I was expecting the differences to be mostly in the <$5K range. It was an eye-opener.</p>
<p>I found it to be pretty close this last time around, as far as “unmet need” is concerned.
This calculator only uses the FM (Federal Methodology) </p>
<p>Buy Princeton Review’s “Paying for College Without Going Broke” calculate your own EFC’s using your 2008 Tax Returns, using both the FM and the IM (Institutional Methodology) </p>
<p>I have used the book for years, has probably saved our family $1,000’s of dollars. I would be lost without it.</p>
<p>nightchef, try to get your S to apply to schools where “average percentage of need met” is in the 85% to 95% range, if aid is a big factor. 100% schools are reaches for our sons.</p>
<p>sk8rmom’s point is extremely important and is something anyone needing aid should know.</p>
<p>I can’t remember off hand the spread in the daughter’s packages (five years ago, what can you expect?), but my son’s had a spread of $15,000 annually! And the school with the most grant aid gave no merit aid.</p>
<p>Do your research, but this craziness is a great reason to apply to several schools. Obviously, the more competitive the student, the more he/she may be able to get accepted into schools with huge endowments and great need aid or to get merit aid. </p>
<p>In any case, I do recall that my two kids, who were almost identical on paper, received very different packages from the same schools, so never assume what your NET aid will be, good or bad. Just go in with your eyes open and be ready to walk away from that dream acceptance.</p>