So we know what school D is applying to ED. My husband did the NPC and it looks like we can get some money. My fear is that by applying for FA it can hurt D’s chances. She has zero hooks. I think her stats are in the mid- range. The thing is we can be full pay, but that’s a lot of money. This school costs around 70k or more. I think the NPC said are EFC is around 55k so we aren’t “high need”. My questions are: Does she have a better shot if we don’t apply? What are your thoughts about contacting financial aid and telling them that we can pay more than the NPC shows. I know that sounds crazy, but I don’t want them to reject her, because they would rather spend their money on someone with hooks. Thanks in advance for any wisdom you can share. Btw, this school isn’t need blind.
When is the FAFSA or CSS deadline for this school if you choose to ED? If you’re really concerned, could you wait until sophomore year, and then fill out the FA forms for the following years?
What is the ED rate vs RD rate? And what % of kids receive aid?
And does it meet full need? Because if it doesn’t, you may end up getting a tiny amount or just work study as your need is not that great to begin with
Is it a need blind school? Most are. If it is, applying for FA will not be known to the admissions people anyway.
What school is it? If it’s a school that promises to meet 100% of need and is need-blind, you have no worries. Even if it is not, she’s not going to be eligible for an amount that will break the bank. In fact, what she gets probably won’t even come from the university. She’ll get a federal subsidized loan and federal work-study.
@wisteria100 it looks like for the class of 2021 the acceptance rate for RD was approx 31% and the ED rate was approx 55%. I think approx 60% get something which could be merit, FA, loans and/ or work study. I don’t think it meets full need. I’ll check.
Does this school require both Fafsa and CSS profile for financial aid?
Then if your comfortable with the finances, I wouldn’t apply for financial aid, but perhaps apply 2nd year
Yes that is crazy and not really an option. Your two options are apply for FA or not. You can’t apply and tell them to ignore it.
The problem you have is out of the 4 combinations of acceptance and FA application, you have two that will make you wonder if you did the wrong thing. If she gets denied and you applied for FA you already have yourself convinced that the reason is the FA application. If she gets accepted and doesn’t apply for FA, you will wonder if you wasted $60k.
FWIW. I have a little higher EFC than you. There is no way I would pay an additional $60k for a maybe bump that moved my kid from the reject to the accept pile.
I see what you are saying @Eeyore123 , but the OP may not get $15k per year. It may be loans, work study, or if it isn’t a meets full need school, it could be a smaller amount
@PepperJo That’s interesting. I thought it was hard to get money later on if you didn’t apply as a freshman.
@citymama9 I understand you want to do everything reasonable to have your daughter accepted. But please think hard how you will feel if you end up paying full sticker price.
I can think off hand of several friends & neighbors who encouraged their kids to apply to $70K colleges ED. And in conversations after the kids were accepted and tuition invoices presented, they truly questioned whether the cost was worth it. These are families that would be full pay under any circumstances. In fact, I just had a mom tell me her husband is a little disappointed in their kid’s first job after graduation given their “investment”
And if applying for FA ruins your D’s chances, maybe it was just not meant to be.
Of course, if you and H are cool with the risk, go for it.
@brantly The school is not need blind and I don’t think they meet full need. My husband would be fine with her doing work study and taking out the loan which he would repay immediately after she graduates so there will be no debt.
Thanks all. I guess what I really need to know is if applying for financial aid can hurt your chances for ED. I am wondering if most ED applicants are athletes, legacies, underrepresented students or full pay.
@wisteria100 Yes, but as the schools contribution approaches zero, so does any possible bump from not applying for FA .
@houndmom It’s so tricky. I understand what you’re saying. The thing is we have money set aside to pay for college. but we are not mega wealthy people. I would rather her go to this school full pay then others where she would get merit , but aren’t as good of a fit. There is only one other school that she loves as much and they are need blind which would lesson the concern, but her SATs make it a bit of a reach.
@Eeyore123 Do you know how big of a bump it is to not apply for aid?
It’s a tough call. I guess my point is that big money full pay can have “legs” … sometimes it raises expectations unfairly. For example: "I’m paying so much she better enjoy it, get good grades, land the best internship, etc.
Does this school require the CSS profile? If not, this school has little to no money to give your daughter anyway. She is only going to get money from loans and WS. I would not worry about it. Colleges do not reject ED applicants just because they submitted a Fafsa and qualify for a subsidized loan and/or WS. You are over-thinking this. When the need-aware aspect really comes into play is with the last few spots in the class during the RD round.