<p>No matter where your child goes to college (except maybe commuting to a local cheap public), I highly doubt he’s going to escape taking full fed loans. He needs to rethink that.</p>
<p>Sure, he may find some unranked commuter school that may give him a free ride with a 31 and his GPA, but he’ll hate the school because everyone goes home at night and on weekends, and he’ll be lonely. And, who knows if the school will have a decent business program.</p>
<p>When he and his brother attend, the EFC will split. What is S1’s EFC? If it’s 2000, then each boy will have an EFC of 1000 when both attend. How many years will BOTH boys be in college together. It sounds like only one year. </p>
<p>Also…when income rises as you project, how much will it rise? And when would it rise? (aren’t you homeschooling younger kids?) Would that increase income be from you returning to work? What year in college will S2 be then? If you’re earning more money, can’t you pay a bit towards college? (keep in mind that only about 25% of any “new” money will increase your EFC…so not a big change).</p>
<p>I’m trying to keep track of what will be happening when. It doesn’t sound like the income increase would happen when S1 graduates, or am I mistaken. And, even then, the change wouldn’t yet affect S2’s EFC. </p>
<p>You mention that your son works summers and sometimes Christmas breaks. Well, he could do what MANY college kids do, and that’s work 10 or so hours per week while in school. That can bring in about $3k per year in addition to summer earnings. If he earned $6k per year that wouldn’t affect his EFC.</p>
<p>BTW…an increase to an ACT 32 or SAT equivalent WILL MEAN more money and choices. There is a difference…a 32 is a frequent benchmark for scholarships.</p>
<p>Also…is S1 home for the summer with S2? Can he sit with S2 while he does a few math sections from some ACT practice books? Maybe S1 can provide some free tutoring.</p>