We know that at our daughter’s preferred private college we won’t get any aid. However, at her private high school, we got 10% aid while her brother was attending a cheaper private middle school.
We budgeted for our daughter to attend a state college, and can afford to send her brother to private high school in one year (they are five years apart).
My question, if our daughter opts for the private college, would her high tuition likely qualify for an even greater financial aid package for her brother when he gets to the private high school, thereby offsetting some of the hit to our budget of the more expensive college?
You should ask this question in the prep school parents forum - they would likely know what the most common outcome would be (although it could certainly vary from one school to another):
What’s the price difference between the private and state college? Could she pay for this amount by taking out $5500 in direct loans, summer job earnings and on campus job?
Wondering about others’ experiences. The price difference is $30k. Per year.
Our current HS would take it into account, they have a large endowment and admissions are need blind. I checked with one other school and they said “maybe”, but their admissions are not need blind and they can’t afford as much aid as current HS. Current HS is ridiculously competitive for admissions, not sure even if sibling preference will help.
Daughter will end up owing for the difference, through the federal loan or to us if we finance it on our HELOC or whatever.
I checked the prep school forum. Seems to corroborate. I think the prep schools look at ability to pay and then at total tuition costs for all children, at least our current HS does, where the private college we are considering barely considers prep school expenses against ability to pay.
Our son is a year away from applying to high school. We have to make the college decision today. I’d love if our son attended the same high school as his older sister, with their large endowment and generous financial aid, and btw is a good school that’s worth every penny we spent (many pennies).
It’s hard to get theoretical answers from all potential schools in our area, so far one other school with smaller endowment and where admissions do consider ability to pay said “maybe” – and that’s only through a friend on staff there.
I believe that is true. I have the impression that the CSS profile is not asking about cost of siblings attending secondary schools but the PFS does ask about siblings college cost.
It seems that most colleges consider private school (K-12) a choice and don’t calculate it in FA calculations. A few consider it slightly. HS consider college tuition in the EFC, but may vary in their ability to meet the need.