<p>There are some college web site financial aid calculators that produce results that seem very realistic and doable for us and then others where the final tally leaves such a huge gap it almost takes my breath away. For the later, I am tempted to quit researching the school right then and there. </p>
<p>Yes, I know every school has different criteria, resources, and use different calculations. But I would be curious to hear from those who have used the calculators, and then gotten a final financial aid package, how close the calculators were.</p>
<p>You might get more responses if you posted this in the Financial Aid Forum.</p>
<p>I can only speak to my own experience with Emory. The NPC on their website indicated a number that had nothing to do with the aid I received. I asked a member of the fin aid department about the discrepancy; she said “oh you really can’t go by that. It isn’t really accurate.”</p>
<p>I have heard from others on CC that if you are self-employed the discrepancy is greater than if you are not.</p>
<p>This is why it makes sense to apply to many schools so you can compare packages.</p>
<p>For straight “financial” aid, not counting any merit aid, so far our’s have been right on (basically nothing for us other than student loans-but the EFC has been within $1000 of the estimates). The unknown is what they will come up with for institutional aid either merit or “hey, we really want you, here is some more money” aid. :).</p>
<p>mathmom–that depends. Do they meet 100% of demonstrated need? If not, you could end up paying way more than your EFC. Say2 schools cost $50,000 and your EFC is $10,000. School A doesn’t meet need and gives you $10,000 in aid. You not only get to pay your $10K, but you have to find another $30K, so 40K overall. Say school B meets need, they give you $40K, you pay your 10K. Again, not taking into consideration merit aid.</p>
<p>It is confusing because of outside variables. We have a high EFC, and I recently ran a few NPC’s. A large private that doesn’t meet need would only give D loans and work study, several LAC’s that do meet need would potentially give us from 10,000 to 20,000 in grants! Used the same numbers in all of them. The one that was 20,000 asked for GPA, test scores, and class rank, so clearly it was not a straight need calculation. I am curious if the numbers in April will match up.</p>
<p>I used College Navigator a lot. It was pretty right on or several and way off for 2. The 2 gave S a lot more than predicted, but included merit/music scholarships, that may be why.</p>