Hoping for people with experience. If you have done the cost calculators and then received financial aid, how accurate did the calculators seem?
We did all cost calculators at schools that were all in the $65K-$72K range, mostly Ivies and elite. Exact same personal info entered at each school… Results were vastly different. Half said $0, one said $40K, several said $4K-$17K. Unsure which schools to check the box yes on for financial aid after this.
All say they are “need blind” but I do not believe it. A few years ago, I was at a cocktail party with an Ivy League Admissions counselor who said “we are supposed to be need blind but the info is right on the app and we see it - we are only human; it is impossible for it not to have an impact on us.”
So I am contemplating strategy since I do not buy they are truly need blind based on that conversation. Also, I am wondering if these calculators are even accurate? Maybe they say aid, and we don’t get it or they don’t say aid but we could get it?? Does anyone have experience with their accuracy?
Also, I have been researching crazily, what do you know about the 568 Presidents Group? Wondering if they might be more “need blind” - the school from which I met that Admissions counselor is NOT on this list.
Am thinking about checking the box at each school that suggested aid in the calculator then saying no financial aid at the ones who suggested $0. Hedging our bets. If we truly have no chance for aid based on the calculator estimate, I don’t want to risk she is not looked upon as favorably due to the financial aid request. Thoughts? What would you do?
Admissions counselor who said "we are supposed to be need blind but the info is right on the app and we see it - we are only human; it is impossible for it not to have an impact on us." >>
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The admissions office is not the financial aid office. They might see the information, but they don’t really care because most Ivies could admit every single student with financial aid and not make a dent in the endowment.
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We did all cost calculators at schools that were all in the $65K-$72K range, mostly Ivies and elite. Exact same personal info entered at each school.. Results were vastly different.<<<
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The reason the NPCs are all over the place is that all schools don’t award aid in the same way. One school might feel that a $100k income has room to contribute to college while another awards full aid.
If you can afford to pay full price, do not check the financial aid box. Otherwise, check the box that indicates you will not attend without financial aid.
If the net price calculator does not return a price you can afford, make sure you consider it a financial reach school. As with admissions reaches, you should limit the number of financial reaches on your list. Talk to financial aid about how they would handle an appeal if the offer is not enough to allow you to attend.
Expect them to be truthful about being need-blind with respect to individual application readings.
However, colleges are definitely need-aware when it comes to the building a class whose financial aid need will fit within the financial aid budget. Colleges can adjust the class by how they consider correlates of need in admissions, without needing to be need-aware for individual applications. For example, heavier favoritism of legacy applicants will result in a less financially needy class. How heavily expensive extracurriculars are weighted compared to working to earn money to help support one’s family can also adjust the class’ overall financial aid need. In addition, requiring the CSS Noncustodial Parent Profile will eliminate applicants with financial need who have uncooperative divorced parents.
Thank you for the replies. Our goal is to balance max FA help with minimal negative effect on admittance. I’m sure we are not the only ones to have this goal. We will check the box for the school suggesting $40K but the $4K? If accurate, I’m not sure it’s worth the risk she not get in because the school would prefer a full pay (I assume the school will not know the amount of FA, just that we are not a full pay if we check the box). So if calculators are quite accurate, I may be less likely to check that box.
We can make a full price work - not without sacrifice - but we could do it and we are willing to do it. I’m sure some of you will say, that’s a decision/risk you must take - understood - but knowing the general accuracy of the calculators plus anyone’s opinion on how “need blind” schools really are helps me define that risk. Thank you all
Both the accuracy of the Net Price Calculator and the veracity of a claim to be need blind or meeting full need depends on which particular school is being considered. You will not get a one-size-fits-all answer.
“depends on which particular school is being considered.”
Are there specific schools known for better/worse calculator accuracy and/or loosely adhered to “need blind” admission? Or were you just saying that generally as in no way to really ever know?
Have many posted in the past about the calculator accuracy? I tried to search for such posts but did not find a lot of direct experiences posted. I would think most everyone eventually finds out how accurate they really were. Would be so curious to hear the anecdotal evidence on that.
NPC’s are accurate if your parents are married to each other, their income is from wages and salaries and the only property they own is their primary residence. If your parents are divorced, own other property, own their own business or are self employed it will likely not be accurate.
The calculator for each school should be “fairly” accurate as long as you put in all the information accurately and nothing changes. However, if you put everything accurately and get accepted (even ED) and the FA comes back not even close then you can turn down the college. I would put your info into the calculator and then print out a copy for each college you apply to and see how it compares to the FA package (if accepted), it gives you room to negotiate if it isn’t up to par.
Net price calculator accuracy or lack thereof is often easily noticed if the net price calculator asks very few questions compared to the financial aid forms that the college wants to see. Fewer questions tends to mean less accuracy.
Also, for situations like divorced parents or income from small business, real estate, or other unusual sources, some net price calculators do not clearly state what information is needed (or do not ask it when required on actual financial aid forms), resulting in greater likelihood of incorrect data entry or misleading calculations.
Still, the net price calculators, if used carefully, are better than nothing or wishful thinking regarding financial aid.
Have not seen any indication that colleges are lying about being need-blind for individual applicants, in terms of whether applying or not applying for financial aid will change the admissions outcome. Applying or not applying for financial aid will not change the applicant’s correlated characteristics like legacy, type of extracurriculars, etc…