If a family pays the tuition sticker price for the first year but absolutely needs financial aid on the second year, will the college still expect the student to pay the sticker price for all four years?
Depends on the college. Read the financial aid rules on the website.
Has your situation changed? Or did you spend everything in the first year to make it work and figured you’d go year to year?
Yes, fill out your FAFSA and set up an appointment with the financial aid office, explain your situation, and see how to handle it.
The school likely has scholarships for returning students that have to be earned - and your child might qualify for one of those. They’re often not much - but every bit helps.
Unless your financial situation changed though, you can expect your aid to last all four years - assuming you submitted financial aid documents that first year (and were deemed not to have need).
Good luck.
The college I’m referring to is Tufts. We sold property that covered first year of college but then our income dove because of covid so we will need to do FAFSA on his second year. I’m wondering how colleges respond to changes in financial circumstances. Our kid has high grades, an exceptional student. Don’t want him to get kicked out because now we can’t afford to pay the sticker price
Tufts has a page on their website for returning students and appealing. But it’s not just FAFSA. It’s also the CSS profile and IDOC.
I would get an appointment with an aid officer ASAP, explain the situation and learn what to do - deadlines to hit, etc.
Now Tufts is not need blind - meaning if you needed money last year, that could have been reason to reject you It doesn’t mean they would have but they could have. 2/3 of their students are full pay.
At this point, you have to get with them - and you might consider a transfer depending on your situation.
It sounds like maybe you were gambling to get your child there and spent beyond your means. We all love our kids - but it’s more important you bring your expenses to the reality of your situation than having your child earn a Tufts degree, as wonderful as that is.
But first things first - get an appointment with financial aid, and learn step by step what you need to do (FAFSA, CSS, IDOC) and certainly don’t miss any deadlines.
Good luck.
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Thank you tbsna44 but can I bother you a bit more help? Can you point me to that page of the Tufts website for returning students and appealing? I’m scouring their website and cannot find it.
Sure - but you still need to call - if you have more assets to sell, they’re going to expect you to sell them.
Financial Aid: Current and Returning Undergraduate Students | Student Life (tufts.edu)
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If you don’t see this it may be more relevant.
Thank you so much tsbna44. I now have a clear course of action thanks to you!!
Tufts says this on their website: “ Please note: If you were accepted to Tufts and did not apply for financial aid, you are not eligible for institutional aid in subsequent years. If your family experiences an unanticipated change in financial circumstances, you may submit an aid application for review. In some cases, limited funds may be available.”
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Totally depends on the college….and also why the student now needs aid. Is it because of a loss of income…or something else?
Did you even apply for aid for that first year? If not…see the above post…there are limited funds for those who didn’t apply first year.
I would add to @thumper1 and I mentioned above -
We all love our kids and you say income has fallen due to covid. I’ll never forget my friend at Syracuse - her parents sold their house and moved into a trailer so she could go to journalism school. That was the two year but not four year plan. Turns out they had no four year plan. She ended up at U of Montana and is in journalism to this day (whereas I am not) - so goes to show you about reputation of school, etc.
I have no doubt that if you had to pull your son from Tufts it would be difficult for you.
But please do not wipe away your future financial stability. Many families now with 529s will have to reassess based on markets. In your case, you sold property. I’m not sure if there is more to sell, etc. but in the end, you’d have to spend $340K on a degree at Tufts, a fine school. But if you could save $150 or $200K going to a state flagship or regional college, it will likely end up better for your family.
Students can get great outcomes from all levels of schools - it’s the kid moreso than the school that makes their life.
But putting such a strain on yourself and your long term mental and financial health (if staying at Tufts with no aid would do so) - that’s a far worse outcome than making your son move - IMHO.
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@SouthYankie thank you for finding this important info.
This parent needs to contact Tufts financial aid ASAP….and have a nice chat about a returning student with a change in financial situation.
And I would also be looking at options other than Tufts in case the finances don’t work out.
The same statement is near the top of the page.
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Deleted.
Thanks…I see it now.
@Gin30 so…did you apply for need based aid as an incoming student? If not, Tufts doesn’t typically allow aid to be applied for in subsequent years. If there is a change in finances, there appears to be limited funds possibly. But not for certain.
I really think you need to talk to a Tufts financial aid officer now.