Her income for 2016 is high, but her income for 2017 and onward will be very low. I don’t know exactly how much she was making before, but it was at least $100k/year.
Regarding Rhodes, a friend of mine with lesser stats received generous aid last year, and her friend with similar stats to mine received even more. Plus, Rhodes already has a cheaper sticker price than its peers.
I am unsure of what exactly my major will be, but I have indicated on applications that I want to study history or political science with a minor in Chinese, but I can do without the Chinese if a school doesn’t offer it.
@hearroroym- thanks for that thoughtful response…
Just SO funny though. My husband and I grew up in nj and have happily spent our entire adult lives in northern nj. It is an amazing place with so much culture, recreation, great public schools, good job opportunities…So weird to hear your take on nj having so little to offer!
But to each his own, absolutely!
Our son studied at BOTH TCNJ and then Rutgers, then grad school out of state on merit. He’s now doing everything he’s wanted to do since his gradations and loving life.
Try not to allow yourself to believe the location of your school will limit your opportunities later on. It most likely will not.
OP, are you a girl or a boy? (Sorry if you already said and I missed it.)
Sorry I didn’t mention that! I’m a boy
Is the 30K your family can come up with for tuition, room, and board, or the top for everything (including books, travel, personal expenses, etc…)? Is it before the $5500 student loan you are eligible to take or is the $5500 part of that 30K? Only ask because it may help posters suggest schools that are both academic and financial safeties. Sorry if I missed it, but what might you want to study?
Have you looked at schools in the Atlanta area? I was thinking of Agnes Scott (which obviously wouldn’t work because it’s an all-women’s college). But there are many schools in that area. http://www.atlantahighered.org/
@KatMT The 30k is what we can pay for everything. The $5500 is not part of the 30k. And I want to study history or political science and possibly continue learning Mandarin (though it’s not a deal breaker).
@rosered55 There seems to be a real drop between Emory/UGA/GTech and the other Atlanta-area schools with no real in between (save for Agnes Scott, but that’s off the table).
The mom switched jobs this year.
To the OP…so your mom will be earning “substantially less than $100,000 a year” but can afford $30,000 per year as her payment towards your college costs? Please explain how.
Also, what about your dad?
Also, you clearly say that the reduced income will NOT be all that much less for 2016 because your mom earned her higher salary most of that year. So…I’m not sure what you hope to gain by asking for professional judgment anywhere. No one is going to grant you more aid because you say that your 2017 income is going to be a lot lower. Sorry…not going to happen. The reality is that your mom could change jobs again…to a higher paying one.
And again I ask…where is your dad in the income equation?
My dad is how we can afford $30k/year. He doesn’t make a lot of money, but he can do $20k and my mom can now only do $10k
If your dad can pay $30,000 out of current earnings…what is his income? What is the TOTAL income your family earned in 2015? 2016?
Don’t even think about 2017, because the colleges are NOT going to consider that…especially since your mom changed careers. Her choice.
I don’t know the exact numbers, but the total income from 2015 would be around $150k and similar for 2016 but slightly less. The whole reason there’s an issue is because colleges now think there’s $150k coming in, but 2017, '18, '19, and '20 will be half of that. And you’re right, it was my mother’s choice so colleges where I wouldn’t qualify for merit aid, i.e. any top-level LACs or universities that I could possibly get into, don’t and shouldn’t really care because they can find another kid just like me or probably better. Now that I know this, I’m applying to places where I would qualify for merit aid consideration based on my transcript (JMU, UMiami, Rhodes, etc). I understand that the change in income now means I have to shoot a little lower on the totem pole. It’s not my fault the income is gone, but I’m trying to be proactive with posts like this to get more information on my options. I had mistakenly thought, based on the experiences of some of my peers in years past, that the more prestigious institutions would be more receptive to the situation.
Your income for 2015 and 2016 is similar. The schools are not going to adjust your aid based on a reduction in income for 2017. Sorry…not going to happen. That 2017 income won’t be used until the 2019-2020 school year.
And don’t listen to what your peers have told you about the past. You don’t know the nitty gritty of their financial situations.
Good that you are looking at merit options.
If nothing materializes for you, take a gap year, and retool your list to focus on schools where merit aid based on your stats will be guaranteed. Family income won’t matter. The applications for many of those very generous awards was in early December.
Are your parents separated or divorced??
@hearroroym You may qualify for 30k merit at Ursinus College through their new Gateway Scholarship program for minimum 1260 SAT or 28 ACT and certain HS curriculum requirements.
https://www.ursinus.edu/offices/scholarships-and-financial-aid/grants-scholarships-loans/ursinus-gateway-scholarship/
Ursinus is a very good LAC, one of the CTCL.org schools, colleges that change lives. It is in a Philly suburb, but try not to get hung up on geography, you would have great opportunities for internships, study abroad, and eventually jobs elsewhere. LACS like Ursinus usually have strong alum networks and career services to help with internships and jobs.
@mom2collegekids My parents are divorced and I live with my father
@mamag2855 Thank you for that suggestion!
Ok…that added information is helpful.
Is your dad remarried? Any other important information before we all try to answer your questions???
Let’s start with the forms…for fafsa purposes only your custodial parent (the one with whom you resided greater than 50% of the time for,the year prior to your FAFSA filing date)… your dad, and his spouse (if he is married) will be on the fafsa. You will get a fafsa EFC but really, for schools that use the Profile…like Davidson…that fafsa EFC isn’t particularly helpful.
For schools that use the Profile, your mom wouldn’t be on your FAFSA…at all. Not at all. You don’t live with her (I’m assuming you have lived with your dad better than 50% of the time prior to the date you filed your forms). So…your dad would complete the Profile (and if he is mRried, his wife’s info would,go on it as well). Your mom would complete the non-custodial parent Profile.
Those Profile schools that require the non-custodial parent form DO use the info on it when they calculate your need based aid.
What colleges have you applied to that are affordable given the budget your dad has set for you?
ETA…the cost of attendance this year at Ursinas is over $65,000 for the year. A $30,000 scholarship will leave this student with a $35,000 balance. To the OP…is that possible?
My dad is remarried but my stepmother works part time and doesnt bring in much money. I applied to Rutgers and TCNJ which are affordable regardless of aid. 35k at Ursinus is pushing it but doable in theory. Is there a way I can figure out if a school requires a non-custodial parent form? By the way, thank you for spending time to help me navigate this, everyone on this site is really great
Direct costs for ursinus are $62k this year and since student lives in NJ, travel costs would be low. Books + misc. would probably be around $1500 (can be less if you hunt for used books and use rentals). OP stated that there was $30k plus $5500 fed loan to work with, so Ursinus might work, but OP definitely needs to consider that costs will likely increase each year. 3% seems to be typical average each year.
@hearroroym your dad is required to include his wife’s income and assets on the Fafsa and Profile forms. Required.
If you look on the financial aid portion of the college website, it will tell you what is required. If they require the non-custodial parent form, it should be on there.