We are seriously considering my son studying at Brandeis where the fees we are looking at is about $55K after the scholarship/aid has been factored in. This being the case, we have these questions:
first of all, is it worth to pay that much for an undergraduate degree?
He wants to be going to a medical school later and so we thought maybe Brandeis will provide him a better foundation for his medical school preparation in contrast to the UC schools?
is there any other way (since both parents are in good jobs) that we can fund this $55K per year?
what is this net price calculator or EFC? Isn’t that just the fees minus the scholarship which is what $55K is? I am confused with these terms.
fyi – we have a few UC campuses to consider if not for Brandeis : UC Irvine, UC Santa Cruz and maybe UC Santa Barbara (currently waitlisted for SB) and we also have NU.in program (which is again expensive) to consider.
Appreciate any inputs/advice/suggestions you may have. Thank you!
The EFC is a number that is calculated after you complete the FAFSA that will let you know how much and what types of federal aid you’ll receive. Low income students get a Pell grant, and all students can take the Stafford loans. Some schools use that EFC to also give out their own need based aid. If you are middle income or up, it usually doesn’t mean much to you. Some schools also require a CSS to be filed, another information gathering form that asks more finance questions.
The NPC means Net Price Calculator. There is one found on the web page of every school. You plug in information about your finances and your student’s stats, and it will calculate what type of merit (some schools) and financial aid you might receive. Some calculators are pretty good, some are not.
Medical school is expensive, which is an point against spending too much for undergraduate, in order to have less debt and/or more money to pay for medical school later. Staying in state can make it easier to get to medical school interviews at in-state public medical schools.
Parent money and scholarships / financial aid from the school are typically the biggest sources. Outside scholarships are typically small, except for a few big ones. Student loans and work earnings can make smaller contributions.
NPC is net price calculator. Examples: https://www.brandeis.edu/sfs/finaid/calculator.html , http://www2.ucsc.edu/finaidcalc/ . These are best used by prospective students before applying. An admitted student should have an actual financial aid offer, so the NPC is not so useful. EFC is the expected family contribution, which may refer either to that expected by the college's based on its own calculators, or derived from FAFSA for federal aid (Pell grants and federal direct loans). These two EFCs are not necessarily the same.
UCs will definetly prepare your child for medical school…but also remember that many many students start of as pre-med but not that many finish as pre-med…