<p>First, if the savings are in your name rather than your child’s, FAFSA will count 5.6%</p>
<p>True…but about the first $50k for married people won’t count…and true retirement accts don’t count either.</p>
<p>Right…but those %ages are for the FAFSA. Profile schools can assess assets any way they choose.</p>
<p>OP, If your student is a junior or senior, there’s still time to apply to some top schools. A 33 on the ACT and 4.25 W gpa is good. I have seen students with those stats get into top schools. A lot will depend on ECs, essays, LORs, and rigor of coursework, as well as any other test scores. Don’t rule it out. As someone else said, all you’re out is the application fee. If there are a couple of reach schools that seem like good fits in terms of major, location, campus environment, I would encourage your student to take a look. </p>
<p>I’m not saying it’s going to happen, but it’s not impossible for a student like that to make it into a top school.</p>
<p>I love using College Board Big Future to search for colleges and to compare stats.</p>
<p>“17K x 4 years = 68K total. Too much!”</p>
<p>Very true, and it may be worse than that with tuition increases and the increased Stafford limits each year.</p>
<p>For my older daughter, state school was the way too go. Solid B+ student and minimal EC’s due to a learning disability meant no merit scholarships.</p>
<p>For daughter number two, who started college her sister’s final year, privates were cheaper. </p>
<p>She attended a middle of the pack school that gave her an 80% tuition reduction plus some additional need based aid. After her first year she worked as an RA, which gave her free room and board. </p>
<p>For her third and fourth year of the 5 year PA program she was really fortunate to receive a grant through “Obamacare” that ended up with a surplus.</p>
<p>Middle of the pack school did not make an impact on her job choices, as her national board scores and supervisors’ references were more than adequate.</p>
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<p>University of California as well for in-state (~$8,500 ESC).</p>
<p>University of Washington as well for in-state (~$10,000 ESC, pretty much the outer limit of what a student can reasonably be expected to self-fund with student loans and work earnings).</p>
<p>For comparison, University of Virginia uses a $7,000 ESC, while University of Michigan uses a $6,500 to $9,000 ESC for in-state. University of North Carolina - Chapel Hill is the cheapest, at $2,700 ESC.</p>
<p>These are the net prices from the net price calculators using a student from a very low income (maximum financial aid) family.</p>
<p>On the other hand, students from low income families in states like Pennsylvania or Illinois may find much worse numbers from their flagships.</p>
<p>Moneymom, our income is similar to yours, with a little over 100,000 in equity in our home and we pay just a little more than our flagship(UNC-CH) for our daughter to attend UChicago. Top schools give very very good financial aide.</p>
<p>^^
How much do you pay for UChicago? Do you only have one student in college? What is the size of your family?</p>
<p>U Chicago also gives a small number of merit awards. Wonder if the above poster’s daughter got one of those.</p>
<p>I think that in general, one can do better at privates than public if the family has great financial need and the student is in the uppermost in performance. Sometimes, this means going to a lesser ranked private school. There are some schools that cover full tuition for NMF so that is one avenue to consider.</p>
<p>We pay right about 20,000. Daughter is only child in college, two younger siblings. Family size definitely helps, but 20,000 is still way below cost of many/most flagship. UNC is one of the most affordable in the country. No merit aide at UChicago.</p>
<p>Just checked the numbers, we actually pay just under 20,000. Low 19’s.</p>
<p>Highbury, can I ask if you are talking about the amount you pay to the school, or the actual COA that you pay (books, transportation)? I just trying to figure out how to prepare and how to compare. I’m also trying to figure out if the difference between tuition/r&b and the COA is accurate. Are the estimates for travel, books, incidentals close?</p>
<p>^^</p>
<p>Good point…who is paying for student’s personal expenses, books, and such. IF the $20k is to the school, then that’s different?</p>
<p>I’m talking about to the school. I pay 19,300 to UChicago. I would have to pay 18,400 to UNC. Personal expenses and books would probably be the same for both schools. The main difference is that travel for UChicago is considerably more. Through my husbands business travel we get enough free tickets that this was not a major concern for us - but obviously would be for others…</p>
<p>Also should note that UChicago was not our cheapest private option. Wellesley and Davidson came in about a thousand less.</p>
<p>mom2collegekids - we pay for books(which have been incredibly cheap) and travel,
she pays for all her personal expenses - which she would have paid for at UNC as well.</p>
<p>Highbury, in addition to what YOU are paying, is your kiddo taking the Direct Loan? An under $20,000 family contribution would indicate an income that is under $100,000…actually closer to $80,000 a year…in most cases.</p>
<p>Thanks sbjdorio. She played a sport for two years, is editor in chief of the high school newspaper, is president of a club related to her planned major, is ( and has been for three years) on the junior board for a charity which provides for very young children (this includes the group planning and putting on a “junior board” fundraiser every year. She has taken AP classes but not in math. She also has had a job for junior and senior year. I think those are pretty good but I don’t really know how it measures up.</p>
<p>thanks Highbury. That’s how I’ve been thinking too, about what I will actually pay to the schools, but with all the figures being thrown about I just wasn’t sure. </p>
<p>My kids have been raise rather frugally, and I don’t believe they will suddenly start traveling first class or buying new text books when used are available. My niece, raised as a princess, was rather shocked when her mother actually refused to pay $350/sem for a laundry service (she had no idea how to do laundry as her father had always done hers). My kids have been doing their own laundry since they were 11. One might BECOME a service for others and do laundry to make money, but neither would ever expect me to pay such a fee.</p>
<p>moneymom, would she consider adding a school, then, at this late date? She sounds like an outstanding student. It really can’t hurt if she doesn’t get her hopes up. I know it’s super late in the game but there are still a few more days…</p>
<p>Moneymom - D went to a 100% need met/no loan school, with the need based aid (our income was about the same as yours with another in college) it was cheaper than our state flagship. The trick is having the stats to get into such schools and casting a wide net. If you don’t have the stats for HYPS, Williams, Amherst, than it is probably not cheaper.</p>