<p>Just wondering if this is reality. I've run the Net Price Calculators for the schools tw1&2 are looking at. Income just under $100,000. Estimated net price at most schools is in the $24,000 - $27,000 range so that will be $50,000 per year for the 2 of them? </p>
<p>Yes. That’s how you would interpret that.</p>
<p>Do you have assets? Do the twins have assets?</p>
<p>Did you put that there will be TWO in college?</p>
<p>Did you put that their twins have income or savings? </p>
<p>That does seem high so unless you made an error, it sounds like assets are the issue. </p>
<p>Check to see if you put parent assets in the child’s section.</p>
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<p>Oh I just realized that these are the NPC results, not FAFSA.</p>
<p>Are these schools that don’t meet need? If so THAT is the problem. They don’t care what your FAFSA EFC is…they expect you to pay for most of the costs.</p>
<p>Looks like you’re also looking at top schools…did those schools have those results??</p>
<p>ok…you’re the mom with one NMSF twin and one with high stats, who just didn’t make the cut-off.</p>
<p>You mentioned that OOS publics don’t give much aid…that is true about need-based aid, but not for merit.</p>
<p>Are your twins applying to any schools that would give them HUGE merit? If so, those schools would have much lower net costs for you to pay.</p>
<p>What is your budget as to how much you’ll pay for each twin? </p>
<p>Yes, each have applied to in-state public and an oos with great merit. And the Ivy level schools come in at $20,000 or under which is right where we hoped to be (but, of course, those are a long shot). It’s the others that threw me. I realized the error in my thinking, though. Having 2 does cut the expected parental contribution almost in half, but most of the schools don’t make that up with aid so the gap grows wider. So, at 1 school, if I enter 1 child we would have a NPC of $35,210, but with 2 we would have NPC of $27,610 each for $55,000 per year total.</p>
<p>Thanks for your help mom2collegekids.</p>
<p>Yes…that is correct. Each kid has about 60% of the total that would only be for one…so really 120% is your total, not 100%.</p>
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<p>And, likely $55k per year is unaffordable when income is less than $100k correct? Or do you have savings to put towards college?</p>
<p>The ivies would be $20k each…or $40k total? Can you pay that? That would be hard with your income unless you have savings to put towards the costs. </p>
<p>What is the net cost of each financial safety your twins have? </p>
<p>We are in the exact same situation with similar finance issues. Twins starting next year - one with very high chances of good merit aid (but also applying to Ivy reaches) and one with reasonably high scores with a possibility of a little merit aid, but certainly not full. </p>
<p>We ran our EFC estimate and it was $26-27K on several calculators. I thought - ok… we can trim corners and will make it happen. Then I found out that was PER TWIN…so $54-56K. We would have to move (out of district - could not find anywhere in current district to live with the mortgage this would allow us to have), tell the younger two kids no pay-to-play sports or any extra-curriculars that have a cost, sell off a car and turn off cable/internet/cells to be able to make that kind of contribution.</p>
<p>Yipes! Have since given the kids a number of what we can contribute and they will have to take loans to make up the gap b/w that # and the EFC. Interesting how this has impacted the college search/evaluations … esp my D who has some good merit aid options…</p>
<p>Love your name, Kisareexpensive. Yes, the sticker prices are shockingly high. A close friend of ours had three in college at the same time. A singleton and a set of twins. Basically at private schools, the expected parental contribution for each student, was a 40% of what it would be for one, PLUS the student contribution. When it came down to it, the state schools with a small amount of merit money turned out to be about the same cost or lower than privates. Any merit would be wiped out by the financial aid so, it was pretty much a wash that way. They figured they could pay $35K per kid which was very close to what the NPCs and FAFSA were saying for the parental contribution. </p>
<p>So state U it was for the twins, with some merit and the oldest one did go to an OOS public with a merit award that brought the price down slightly higher than the state flagship but was a better fit. That’s how they went. They did not get sufficient merit at any privates that brought the price down to the levels they would consider it, and fin aid only at some of the more selective schools was not quite enough to swing. It was a very tight 5-15 years, since they borrowed PLUS to make it work.</p>
<p>Have them apply to schools who give full rides to NMF and significant merit scholarships to high stat students. If they can go to the same school that would cut down on travel costs.</p>
<p>What state do you live in and what are their career goals?</p>
<p>Check out these links
<a href=“http://nmfscholarships.yolasite.com/”>http://nmfscholarships.yolasite.com/</a>
<a href=“http://automaticfulltuition.yolasite.com/”>http://automaticfulltuition.yolasite.com/</a></p>
<p>Thanks for the links mommdc and commiseration cptofthehouse! Yes, my D has a full tuition at Alabama due to automatic stats. We visited and she liked it a lot! She is a finalist for Wells at Indiana with interviews this weekend (fingers crossed)… I do believe she is leaning towards state schools b/c of the realization of that “gap” of loans she will have to cover from our EFC. She is wanting to do graduate work, so really need to save in undergrad!!</p>
<p>My son will take the loans. He is computer science bound, so will probably head to work after undergrad. Also, he has high functioning autism, so needs to go to a school with both great computing and great autism supports… that means RIT (he applied ED) - but also means lots of loans! :-<</p>