Help with my EFC

Parents Forum
1

<p>Please help a rookie parent caculating my EFC. </p>

<p>family income 110000,
saving 180000,
home equity 100000. </p>

<p>both parents age in mid 40s. family of three. only one child, now a 11th grader. </p>

<p>we believe 30000 a year is our maximum we can pay. </p>

<p>his stats:
GPA uw 4. w 4.77
SAT cr800 m750 w790
ecs: editor in chief, president of art club, vp of model union and other club member. interned local newspaper, volunteered obama campaign. some regional art award</p>

<p>no hook. over represented. located mid atlantic</p>

<p>does he has a shot at penn, cornell,chicago, northwestern, princeton, columbia, brown etc. </p>

<p>thanks for your help.</p>

2

<p>He may have a shot, but as you said…no hook and from an overly-represented region.</p>

<p>That said, if you can only afford $30k per year, why are you only looking at schools that will likely expect you to pay most/all of the $50k+ to go there? These are all CSS Profile schools. They will look heavily at assets and home equity…along with income and family size.</p>

<p>Anyway, since your child had high stats, he needs to also apply to some schools that will give big merit scholarships for financial safeties. The schools you list won’t give him merit money - except maybe Chicago…but I think their few scholarships are very competitive.</p>

3

<p>State schools and some private schools use FAFSA. Try looking at FAFSA calculator urls such as this one -<a href=“http://www.finaid.org/”>http://www.finaid.org/&lt;/a&gt;&lt;/p&gt;

<p>Many private schools use CSS Profile (College Board). They handle home equity and a few other things different, but for us results were similar to FAFSA.</p>

4

<p>He certainly looks like he has a shot, given the bare-bones info. Whether you can afford it is another matter. With those stats he has a good shot at getting a scholarship that will pay for a bit more than half the cost of attendance at American.</p>

5

<p>You might want to go over to the Financial Aid and Scholarships forum and look around. Lots of information there, and several really knowledgeable posters will emerge as you read… some even work for fin-aid offices. Also read this thread <a href=“http://talk.collegeconfidential.com/parents-forum/148852-what-ive-learned-about-full-ride-scholarships.html?highlight=learned+full+ride[/url]”>http://talk.collegeconfidential.com/parents-forum/148852-what-ive-learned-about-full-ride-scholarships.html?highlight=learned+full+ride&lt;/a&gt;&lt;/p&gt;

6

<p>Agree with mathmom. He’s got a shot, but you’ve got a list of very expensive schools and a list of schools that are extremely difficult to get into. You would be very wise to expand your search and add some diversity beyond Chicago and Northwestern with some of the really excellent colleges outside your region and a tad bit easier to get acceptance where there might be an opportunity for merit and/or scholarships to meet your financial objectives.</p>