<p>Here's the story. I want to go to Pace University and from my own calculations After the 5,500 Fed. Aid loan, and what I will be putting in (NOT estimated EFC.), plus what my parents will be putting in I will still owe 17,000 dollars. </p>
<p>However, I ran the Net Price Calculator on Pace's website and it said my need was 36,000. I guess I just need some help understanding the Net Price calculator and what need actually means. Does it mean that the will offer me something in addition to my scholarship (77% of need is met) </p>
<p>Total Estimated need: 36,419
Total Estimated Net Price Before Loans: 32,108</p>
<p>Can someone PLEASE explain? I'm sorry if this is a little confusing, if anyone needs me to rephrase it I will try lol</p>
<p>Does Pace use FAFSA only for financial aid and need determination? If so, your EFC is probably probably around $20K. The NPC is not going to be accurate for Pace because they do not meet 100% or even close to that of their students’ need. How much of YOUR need that they will meet is up in the air. The NPC is saying that you will need $36, 419 in aid in order to go there AFTER you pay your EFC. Pace is not guaranteeing that they will come up with that amount, however, and it is highly unlikely that they will. You need to figure out the total cost for you to go there, how much you can afford to pay, how much your parents will pay and then see what financial aid/ merit package Pace puts together for you Usually you don’t get that till the end of the year. Hopefully, you have some other schools on your list that you know you and your family can afford. If Pace pans out the money you need to go there, great. You are set. If not, you need to look at the affordable options and pick from them.</p>
<p>I have received a 19 thousand dollar scholarship</p>
<p>My mom can put in between 5 and 6 thousand a year and I can put in about 1500 (as of now, But with work and such I expect to be able to pay more)</p>
<p>Pace’s NPC said:</p>
<p>Total Grants and Scholarships: 20,000
Estimated Need Before Financial Aid: 36,419
Total Estimated Net Price Before Loans: 32,108
And Estimated EFC (not what we can actually put in) is 14,000</p>
<p>However, I don’t know how accurate the grants and scholarship number is though, because for the Merit Scholarship they said I would get 13,000</p>
<p>Also, My estimated costs are different then those on the website, I am expecting to pay 4,000-5,000 Dollars less because of my selected housing.</p>
<p>If you already have your financial aid award from Pace, forget the NPC. It is an estimate only, and in the case of schools like Pace it is not at all accurate because they do NOT guarantee to meet need. So don’t even look at the NPC. </p>
<p>You need to know how much it will cost you total to go to Pace. YOUR cost, not their estimated costs, since numbers for transportion and houseing and board, can differ if you already have other plans with specific costs. THe estimates are overall averages and may have nothing to do with you.</p>
<p>If you have already gotten the $19k scholarship and it is a done deal, then that is part of what you can pay. If you intend to borrow the full $5500 Stafford loan that you can, and your mother will throw in $5500, then that is an additonal $1100K that you can pay, and so your have $30K towards the total cost of Pace. What do you estimate Pace will cost you per year? Right now you have $30K towards that figure IF that $19K grant is a real figure, not an estimate. I thought PACE costs about $50K. That means you have to come up with $20K more unless my figure is off due to your selected housing and other costs specific to you rather than use of estimate. That is what you have to be able to earn and save to get through the year. But forget the NPCs, now that you have gotten an actual award.</p>
<p>Ok thank you, I wasn’t sure it would help at this point cause I wasn’t sure if any need based was included, like I thought since my estimated merit was 13-14 the rest was other types of school aid</p>
<p>Jazzli, your FAFSA is not yet filed as the form is not even availabe until 1/1. Pace will use your FAFSA info to give you a financial aid package. It appears they have given you $19K in merit right off the bat. It might be because you hit certain auto scholarship marks with your test scores and gpa. So, now you wait for the true financial aid package. The estimates are only averages, and where you stand as an applicant will differ from the averages. In fact, it is possible that no one gets the average award.</p>
<p>Well, it’s not that it can go either way. Pace can give you zero in financial aid up to what your EFC less the merit award. You will get the opportunity to take out $5500 in Stafford loands pretty much regardless of where you go to school–that’s from the government, not from the school. If you are a New Yorker, it appears that you would qualify for TAP so you should link your FAFSA to that when you file it. Until Pace runs your FAFSA numbers, you won’t know what they will give you in aid.</p>
<p>Congrats on the $19K scholarship. Fingers crossed that Pace come up with the rest of your need.</p>
<p>Thank you so much for the info! It’s all a little confusing! And my mom didn’t have to do any of this when she went to school, cause she already had me so she really didn’t have to pay anything at all.</p>
<p>It all depends on where your mother went to college as to what she paid and how she got the money. I am probably older than your mom and I had to apply for fin aid and for merit awards. I went to a private college and had both need based and merit aid. </p>
<p>It is confusing, but with Pace at least you don’t have PROFILE to deal with as well. What’s confusing matters is that you have gotten a merit award with your acceptance before your financial aid package. You haven’t even applied for financial aid yet. Usually schools will give the merit award at the 11th hour, when they accept the bulk of their students. Some schools with rolling admissions, however, will throw in the awards as they accept, and some schools have auto merit awards based on certain stats. Some just give the awards to those they think they will most want. However it happened, you have netted a nice award right off the bat. Fingers crossed that you get the financial aid you need and want.</p>