When you did the NPC, did you put in that property assets?
@twoinanddone
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He’s first in his class and has good scores.
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are my stats:
Large Suburban NJ HS (500+ Students)
GPA: 4.7 Weighted
Class Rank: 1st Decile. <<<<<<<=============
AP Scores: 4 LANG, 4 APUSH
ACT Scores: 30C (28M, 28S, 30R, 34E)
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He’s in the top 10%, not Val.
An ACT 30 is very good, but he needs to focus on schools that give merit to THAT score.
Ursinus sounds like a good choice.
@mom2collegekids yes
Besides the college fund… Please ask your parents how much they’ll spend each year on EACH twin’s college costs.
@mom2collegekids im almost postive the college fund is it. 50k for each twin for 4 years.
OP my parents were immigrants from Europe and had no clue about college, but dad did listen to a business friend and I was able to go to a great program for me. My dad was in the military in the 50’s here in the US - during Korea War; he used the GI bill and got training in masonry (he eventually owned his own construction company, and diversified from there - had a great business mind). The 3 siblings plus me that wanted to go to college did and all graduated; two of us have graduate degrees. H’s mother was the only gal from her family (family with 13 children) to get a college degree (a brother also got a college degree; some of her oldest sisters did not even have HS - they were to learn how to run a household by 8th grade; going from the farm, public HS was free but at that time the bus cost $$ - however their father was a good business person - had two side businesses plus the farm, and could afford the bus cost; two DDs were going to move in with married sister in town to go to HS and their dad relented - a paradigm shift and his new attitude was pride that he could afford to have HS DDs).
Some families have more knowledge about higher ed than others, but with the internet and so much available info available at your fingertips and with forums like CC…
Being first generation college was also new for my niece, and she did fine.
Business and communication. Certainly if you want to live and work in the NE, focusing on those schools that have great programs. Look at all the educational opportunities each would provide. Look at where you could have opportunities like internships. If you are at a school that has opportunities and tie ins to various companies - look at their career planning and placement (or whatever that school calls it).
For example, there are opportunities with some large campuses but many companies are of course looking to cherry pick the top students. Here is one list as an example:
https://career.sa.ua.edu/connect/career-fairs/past-career-fair-recruiting-organizations/
You may want to compare what the cost is for a school where you would get merit (like UA - but for OOS you would not get full tuition scholarship with ACT 30/GPA 3.5+, unless you earned a scholarship not on the ‘automatic’ - you would get full OOS tuition with meeting scholarship application deadline and ACT 32 at UA). Since you expressed wanting to stay in NE, you certainly have a plethora of schools to consider in your region.
The goal is getting great opportunities and great education for your career aspirations. Maybe what you think you want to do after UG is different than what opportunities open for you; there can be new opportunities.
Sometimes you can double major at a smaller/private and get more education bang for the buck (finish in 4 with double major). IDK. I was able to do so at my school. DD is double majoring within her engineering area, which requires three extra upper division classes.
I hope you can match with a school that you love going to and can be very successful.
It sounds like your sister has her list for nursing, and hope it all works out for her. Niece finished at public nursing (BSN) program paying in-state rates; DD1 in a different region of the country finished BSN program in-state.
Certainly your ability to earn money during school breaks could help keeping school debt low.
Just be sure to apply to enough schools that you can win at!
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almost postive the college fund is it. 50k for each twin for 4 years.
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I asked, how much BESIDES the college fund, will your parents pay each year.
Or am I confused. Are you saying that there is $400k? $50k per year per twin for four years?
There is a $50K fund for each child plus a $50K inheritance each. With the small loan they can take plus work it appears they can afford $35K max per year probably a bit less realistically.
Seems like there should be a public university in their state that falls within their price point.
The OP could look at SUNY schools too. Adding in the $5500 Direct Loan, a SUNY might come to the price point for OOS students.
^^Yes. Binghamton’s school of management has a good reputation among employers in NYC. Like someone else above, I also recommend TCNJ. Those two plus Rutgers give you three affordable options that are excellent schools.
I would take a look at Rowan, as suggested earlier. It has a brand new freshman dorm that also houses the honors program kids. I wasn’t paying close attention when we visited, tbh, but it sounds like they are investing a lot of money in their business school. Cost of attendance in state is less than Rutgers and they are known for giving merit aid too. Run the npc and see. It doesn’t meet all of your requirements, but it is a good safety and affordable.
https://www.rowan.edu/home/rohrer-college-business
i would also say check into Temple
I wanted to return to this thread to ask a question. I was admitted to Boston College which was a reach and I’m extremely happy! I have heard both good and bad about their financial aid, so Im trying not to get my hopes up.
I am concerned about their position on home equity. They “cap” home equity at 1.2 times your income. What does this mean? If my parents make a little less than 100k a year but have a large home equity due to our inherited second home, how will this be affected?
@mom2collegekids any thoughts on this? you seem to know a lot about finances and i would appreciate the advice!
I do have a reasonable offer from Fordham which is my best bet right now. Appealing some financial aid packages at Kenyon and Syracuse, and also waiting for GW and American decisions.
It means they will only consider the first 1.2X the equity in your primary residence. If you parents make $100k per year, but have a home with $1M in equity, it’s good news for you as BC will only consider $120k of it as an asset.
Whether that $120k as an asset cuts out need based FA is up to them and their formula.
@twoinanddone what if the combined home equity of both homes is that much? or does this only apply to your primary residence? Im not sure if you remember but this thread was originally about how my parents inherited a home and it made my EFC very high.
I think they will consider ONE home the primary residence and the equity in the other home will be considered an asset and assessed at 100%
Actually, BC is HORRIBLE, basically the worst among meet need schools, in the way they took home equity and real estate into account.
Don’t count on BC.
Did you apply to Rowan and LaSalle?
@MYOS1634 no UVM was my safety and they actually ended up meeting almost all my need (attending would be the same price as Rutgers in-state) with a scholarship. I will most likely end up at Fordham this fall if BC doesn’t work out, my appeals for Kenyon/Syracuse are not a better offer, or I don’t get into GWU or American with a better package.
You have great choices, congratulations 