My son is anxiously awaiting his admission results to several schools. All of them have endowments on the large side. My biggest fear as a parent is that the financial aid package will not be good enough. He is a strong applicant academically and also athletically. My question is about how to handle the awards if they are not where we need them to be. Also, do they truly “bridge the gap” as many of them say they do?
Did you run the net price calculators on all the schools? NPC should give a good estimate of your costs but many schools will “gap” you and only a few will meet need. What is your EFC and what schools did he apply? His stats would be helpful also.
If he is a recruited athlete (i.e they want him for a varsity team) then you have a chance to get more money than what might be otherwise typical for your demonstrated need.
He’s applying for10th grade. Deerfield, Berkshire, Brooks, Taft. I have to say that he plays a specialized position and all of the coaches seem very interested. Based on what I have read, he would likely get full aid at Deerfield and Taft. However, those are the schools that will likely be the toughest to get into. He only scored 75 on his SSAT but comes from a strong day school and gets almost all A’s in Honors classes. The big issue in our family is that we also have a handicapped child and only one income due to the fact that we have to care for my other son. It’s safe to say that our EFC is extremely low. Just wondering how schools like Berkshire, Brooks etc… would handle us.
Any specific stories to share? Your own stories, ones of other families?
Is the prediction that the schools will “low ball” you and expect you to come back to them with some type of counter offer? I guess I’m trying to measure if this is going to be a negotiation or am I to expect them to make a fair offer the first time around.
Did you explain your situation to FA officers? That will be very helpful, I encourage you to do so if he is accepted!
also …it’s not a bargaining table… you can appeal, but definitely make sure you explain your situation and your cooperation/enthusiasm. Look to build trust, as it’s a long commitment
if your son is for example a hockey goalie, then you may get some extra FA as an inducement
If they don’t want your child at the school, they wouldn’t have extended an offer for admission. If you can’t afford the school with the financial award given and it’s your child’s favorite school, tell them how much your child loves it and that it’s impossible for you to afford without more aid. At that point, if they’ve accepted him/her, they want your kid to come! It just takes proper communication. 
@Chipin: from what I have heard they offer you an amount based on what their algorithm presents. There is not much negotiation. Yes sometimes there is some but not much. IF your child is a recruited or highly desired athlete or some other hot commodity; one can ask for more saying well school X offered us X BUT be careful. They all use the same general calculations. (Some variation on assets, mortgage, income etc) , Again though, it really depends on the school. Choate for example has a huge endowment. They may offer more than say St Marks.
All helpful info. I have communicated fully to this point with each school. Admissions folks and coaches seem to be supportive, but I know that it will all come down to the formula that they use. If the formula works it will uncover that my son will need significant aid. Because he also does very well in school, I would hope that they would look at him as a safe investment.
I’ve read on here (I think) that schools have asked for copies of “offers” although I’m not sure I would want to enter into such a practice myself.
My intention with this post was not to find out if people are trying to act as manager for their kid and get the best deal. Rather, it was to find out if folks have experience with the process. My son has carefully chosen a few schools. He has his favorite of course but our family doesn’t have the luxury of picking the school merely based on his acceptance. If we can’t afford to send him, he can’t go. So not trying to “pimp my kid” and play a game of negotiation. Just want him to have the wonderful opportunity to attend one of them.
I’m definitely not implying that you would do that @Chipin and I’m in the same situation as you. If the FA isn’t there, she can’t go and life will go on. It is a negotiating game from what I’ve heard from a friend so you should be ready for that.
I guess we have to wait and see. Sounds like some of the schools will send emails very early in the morning on Thursday and others later. Some we need to log in to find out. Stressful week! Best of luck to you @MAandMEmom