Deferring attendance and FA?

Paying for College
1

<p>Over this past year, DS both applied to colleges and gap year programs, not knowing exactly which way things would turn out or how he'd see his future at this point. He was accepted at a number of great schools, including his #1 and #2 choices. He was also accepted for a great gap year program overseas.</p>

<p>At #1 (University of Rochester), he got a good-sized merit award, a good-sized need-based grant, and the Stafford loan offer. The "gap" is less than our EFC so we're thrilled. They have agreed to hold the merit award for a year, and we'll re-file the FAFSA next year for the need-based part.</p>

<p>At #2 (U Oklahoma), b/c he's an NMSF he would receive a very large merit package. With the Stafford (which we'd want him to take so that he has some "skin in the game"), we'd pay only a few thousand $. They too will freeze the merit award for a year.</p>

<p>Here's our dilemma: while he would like to go to #1, we (well, I) are terrified that after we re-file for need-based aid next year, we'll be offered only loans rather than grants...but at that point we will be stuck, since the NMSF offers will be off the table. If we could be sure Rochesteer won't give us the ol' switcheroo, it would be easy. If we could defer at both so we could see what they do, that would be easy too. </p>

<p>Thoughts or wisdom??</p>

2

<p>Ask them. Rochester gives a lot of kids nice packages and a number of them probably do take a gap year.</p>

3

<p>Do you expect your income to change in the future?</p>

4

<p>The fact of the matter is that you and every single other family is making a 4 year decision based on the financial aid awards for the first year. Even if you student did not take a gap year, it is possible that a “bait and switch” occurs, leaving him/her in worse shape. At least with a gap year instead of a freshman year, your student can reapply as a freshman elsewhere and get the favorable freshman treatment for financial aid. Transfers get nowhere the financial aid that freshmen do as a rule.</p>

5

<p>From the info in NCES [College</a> Navigator - University of Rochester](<a href=“College Navigator - University of Rochester”>College Navigator - University of Rochester) I doubt Rochester will “pull a switcheroo”. I don’t see much difference between the freshman class aid averages and the entire UG student body.</p>

6

<p>Thanks, all - and particularly Erin’s Dad. I hadn’t thought of checking the NCES data. Great idea!</p>