<p>D2 will begin freshman year in the Fall. Our total EFC remained nearly the same as last year but was essentially split in half between the two (although D1's was a little higher as she had more saved in the bank). I have called D1's school to see if we can expect any additional aid and I am not getting a warm and fuzzy reaction from them.</p>
<p>Does anyone have experience with this? I can't see how they can just ignore such a large change in EFC. Maybe I am jumping the gun but I want to be prepared, especially since returning upperclassman do not get their financial aid packages until late June. Thanks in advance.</p>
<p>It all depends. Your EFC may still be too high for anything but loans. Or your school may not have much to offer in terms of aid for your new EFC level. Or you might get grants. Only they can tell you (and even they aren’t doing that). Sorry … wish I could help, but it just depends on the school & your EFC.</p>
<p>If child # one goes to a school that does not promise to meet need and is in the majority in not having much money for aid, they can do nothing. EFC doesn’t mean a hoot at these schools.</p>
<p>I can’t see how they can just ignore such a large change in EFC.</p>
<p>Keep in mind that EFC is a FEDERAL number. It means nothing to schools except to determine what federal aid you’d get. It is not a number that schools have to try to meet. </p>
<p>The federal government’s formula for EFC has no power over schools - nor should it. Most schools do not have the funds to meet need, and therefore when a student’s EFC drops, many schools can’t do anything about it. It’s not like the federal gov’t makes up the difference from the EFC change, and schools can’t afford to take the loss.</p>
<p>Keep in mind that schools can’t be expected to charge a sliding scale just because FAFSA spits out a number. </p>
<p>You’re right to be concerned now. Be prepared that there will not be an increase in aid or free money (unless each child’s EFC dropped below Pell qualifying numbers.)</p>
<p>EFC is a very misleading term causing many families to think that’s all that they’ll be expected to pay (again, the myth about a sliding scale).</p>
<p>What schools will your children be attending next year? And, if they are public schools, will they be out of state for any of them?</p>
<p>You don’t say if it is a public or private school…</p>
<p>Since most public schools don’t meet need or meet large portions with loans, your reduced EFC could likely net you only more loans or a bigger gap.</p>
<p>Private schools have no obligation to reward you with more financial aid simply because you had your children close together. Some will, some won’t. I’m surprised the FA office won’t give you a firmer indication, though. I would think they have a policy one way or the other, and don’t see why they wouldn’t tell you what it is.</p>
<p>I think the problem is that the terms “financial aid” and “EFC” mislead people into thinking that colleges are going to pay for their children’s college education, when in reality, schools don’t have the money for that. I keep referring to the misapprehension that schools charge a “sliding scale” based on EFC.</p>
<p>The very generous ivies/elites are the exception, not the rule. However, the fact that the ivies/elites are so generous, it confuses people into thinking that other schools are going to be somewhat as generous (maybe just not “as generous.”) When in reality, many schools have no funds of their own to give away. They can give federal or state money to low income people, and offer federal loans, but that’s it for many schools.</p>
<p>Does D1’s school promise to meet full demonstrated need? If yes – then they are going to go by the FAFSA & CSS Profile, and they will increase aid when they get proof of enrollment and COA from D2’s school – its a factor of “need” that all colleges consider, but the CSS Profile handles it a little differently than FAFSA. </p>
<p>If the answer is no… then there is no reason to expect that the college will give more and this is a question that should have been brought up with the financial aid people a lot earlier. (Actually, going back to the time D1 started college, assuming that you could have anticipated that both kids would be in college at the same time).</p>
<p>Does D1’s school promise to meet full demonstrated need? If yes – then they are going to go by the FAFSA & CSS Profile, and they will increase aid when they get proof of enrollment and COA from D2’s school -</p>
<p>Since the OP wrote: I have called D1’s school to see if we can expect any additional aid and I am not getting a warm and fuzzy reaction from them, I think it’s safe to say that this is not a school that even comes close to meeting need, otherwise the person would have been more positive in their response.</p>
<p>*If the answer is no… then there is no reason to expect that the college will give more and **this is a question that should have been brought up with the financial aid people a lot earlier.<a href=“Actually,%20going%20back%20to%20the%20time%20D1%20started%20college,%20assuming%20that%20you%20could%20have%20anticipated%20that%20both%20kids%20would%20be%20in%20college%20at%20the%20same%20time”>/B</a>. *</p>
<p>Very true. When dealing with schools that don’t guarantee to meet need without big loans, every family who will have multiples in school at the same time need to consider how they’ll pay for both.</p>
<p>It’s not much different from deciding whether to send kids to a private high school. When we made that decision, we had to pre-determine whether we could afford to have two going to the private high school at the same time (no discount for multiples). When we figured that we could, we agreed to send S1 there. If we had determined that we couldn’t, then we wouldn’t have.</p>
<p>D1 is at a private school and D2 will be attending an in-state public. Neither school meets demonstrated need. Mom2collegekids, you are exactly right…the financial counselor basically said that unless D1’s new EFC qualifies for the PELL, there is not likely to be additional $. She did say nothing is definite yet and to wait for the actual package but I am doubtful. </p>
<p>Although we certainly considered it when D1 was applying, I was naive and believed the drastic change in EFC was enough to garner additional funds. It is an eye-opener to see a 4% tuition increase (perhaps yearly) coupled with an additional college student. The financial aid package that sounded generous when D1 was a freshman is starting to pale. I hope families making those decisions now for incoming freshmen will keep this in mind!</p>
<p>At schools that don’t promise to meet need, when there’s later a drop in EFC, they have no motivation to increase aid because they already have your student AND they are using their limited funds to attract next year’s freshman class.</p>