<p>Like everyone else, I will calculate what portion of loans/what portion of other aid I can afford. Knowing the <em>option</em> of getting loans is out there is a relief to me. I was not aware of it. That is all I meant.</p>
<p>This seems to be a real hot-button issue. I would appreciate if if we could limit this thread to a discussion of financial safety schools and/or programs rather than judgmental statements like: </p>
<p>“If you folks want to bury yourselves in loans for the “dream school” experience, it’s up to you. Many have done that, and most live to regret it.”</p>
<p>I think that part of the “disagreement” may have to do with the definition of a “financial safety.” </p>
<p>Some would only consider a school a financial safety if the family could afford the school out of current income, and/ or with substantial guaranteed merit aid for the student’s stats, and/ or with federal aid (Stafford, Pell, Perkins, Work-Study), or guaranteed institutional aid.</p>
<p>However, another family may consider a school a financial safety if they could afford the school through a combination of the above and/ or Parent PLUS loans, and or private loans taken by the family. </p>
<p>Each family will decide what is right for them based upon their individual circumstances.</p>
<p>This makes sense and I agree. The amount of support that is needed would also vary greatly due to level of income. </p>
<p>I am assuming I will need to use a combination of current income, savings, merit aid and loans. I certainly hope to minimize the percentage of loans, but I do expect to take out some loans on my kids’ behalf and I plan to pay them off (unless they miraculously get rich and pay them for me). So the more other types of aid/breaks we can get, the better. </p>
<p>That’s why I started this thread–to find out where others have found these “breaks”. Could be very low-interest/no-interest loans as well as merit and other grants.</p>
<p>Sugeek, if you loved Alfred now with the weather, you’ll really love it in the spring. LOL.</p>
<p>Alfred is very interesting. With both strong Engineering and Design programs, it maintains a gender balance, and balanced extra curriculars. A football team that does really well in D3 and many other sports. Lots of arts stuff. My DDs GC is trying to get a lot of kids to look at.</p>
<p>It is truly in the middle of nowhere and does not allow frats.</p>
<p>^^ I liked Alfred too. It’s not for every student but it’s one of those gem schools that when it clicks with the kids is optimal as a college that gives great value on many variables including financial.</p>
<p>What constitutes a financial safety school is going to vary from family to family, but in general most people consider that a place where minimal, and hopefully zero, loans are needed unless they are Stafford or other low interest loans. To me 8% (PLUS) is pushing the limits of defining low interest. YMMV.</p>
<p>I agree that a financial safety school should be one that does not require loans. I say this because those loans are not guaranteed. I’ve known folks who were denied them. We don’t know if any of these programs will continue in the current form and we don’t know what will happen with our jobs and our money either. It’s just smart to look for an option that is the most affordable without borrowing. It is a prudent exercise to see what is available out there for little money. We found some surprisingly good options when we have made the search.</p>
<p>Schools like Webb Institute, SUNY Maritime, Merchant Marine Academy,Vaughn Institute options like Coast Guard ROTC came ont he table. Fordham’s commuter grant, Purchase College’s programs, Lehman’s scholarhsips all were things we did not know until we did this search.</p>
<p>SUNY Maritime is a GREAT school for kids who wanted a military academy but could not meet their academic standards. BUT it does have military feel etc. </p>
<p>In addition, it is our belief that SUNY will implement a new regional tuition of $7,604 a year for students residing in the following states: Alabama, Connecticut, Delaware, Florida, Georgia, Louisiana, Mississippi, Maryland, New Jersey, North Carolina, Rhode Island, South Carolina, the District of Columbia, Pennsylvania and Virginia. This is significantly less expensive than the out-of-state tuition of $12,870 a year. (Click hear to see tuition rates by state)</p>
<p>btw – The captain of the hijacked Maerst Alaska, in Somaolia, was a SUNY Maritime alum. He freed his crew, used himself as ransom, and got the ship back.</p>
<p>My kid has a decent GPA and scores so I would also be looking for merit scholarships. I did see one very cool option–Fordham offers Hispanic students reduced or free tuition if they are National Hispanic Merit Scholars. That on is definitely going on the list!</p>
<p>OP asked how to search for how much non-need-based financial aid on the college board site.</p>
<p>Not sure it’s in the search section</p>
<p>but the descriptions of each school contain this datum (this from Babson):
“Average non-need based aid: $22,390”</p>
<p>Kei</p>
<p>P.S.Since a financial aid safety school is one that by definition you can afford, and since large loans are by definition unaffordable, my family’s working definition of a financial aid safety school is one that only includes borrowing subsidized student loans . . . a small amount of loans were OK for us.</p>
<p>Loans, while not ideal, are okay for me, too. My living arrangements will be changing when d leaves for college, and I will have some additional money to put towards loans if necessary. So I don’t rule them out as part of the pie.</p>