Hi guys. So I got into Fordham and St. John’s and I’m split between both of them. They both sound like great schools and I’ve visited St. John’s, I really liked it and I can see myself going there. I’ve yet to visit Fordham, but I’ve heard great things. They gave me 45k in grants and scholarships so it’s in my realm. But the only thing that worries me is the financial aid will have a wide range after the first year. Most of the 45k is grants so I’m worried it’ll differ vastly every year.
If you guys know anything about the financial aid range or just which school is better in terms of what, please chime in. My major is psychology, by the way. Feel free to factor that in.
The amount of need-based aid will likely change from one year to the next if the family’s financial situation changes and if the cost of attendance changes. More income and/or assets reported means less need, unless those changes are offset by increased costs. Less income and/or assets reported means more need. The amount of merit aid for the next year is based on the conditions under which the aid is provided (maintaining a minimum GPA, keeping up with increases in tuition, etc.), so make sure you understand what those conditions are.
My family’s income will likely stay the same, it’s just the increase in tuition I’m worried about. Does it increase a considerable or reasonable amount, or is the increase range different for every college? Or would you just suggest talking to a financial aid advisor since they know better?
It is similar but the income level went down. No big changes. I have another sibling in college next year but he’s graduating after, so the 3rd and 4th year it’ll just be me. I suppose that’s going to decrease aid, but hopefully not by much.
When your sibling is no longer in college, your family contribution per FAFSA could very well double. Right now…your TOTAL family contribution per FAFSA is split between you and your sibling.
It’s hard to know what Fordham will do when you have only one of you on college vs two…but you need to find that out.
OTOH, your parents will no longer be paying for your sibling to go to college…so perhaps there will be sufficient funds to support your last two years. Perhaps you should talk to your parents as well as the financial aid offices at these colleges.
The thing is, my parents don’t pay for my brother since he got a full ride. They’re willing to pay whatever it takes as long as it’s in the budget (10k) but I of course want as much aid as possible.
Thank you for the info! Do you think I should talk to a financial aid advisor about how much my sibling graduating would affect my aid?
Tuition and fees at Fordham are now almost $52k. I gather you live in the city and are commuting.
Your EFC will rise your when your sibling is no longer in school. tuition will rise approximately 3% a year. Fordham does not meet 100% demonstrated need. It is safe to say by the time you hit junior or senior year you could max out their $10k budget
This is a conversation. You need to have with your Parents to find out if the can afford the cost over4 years.
COA with living on campus is $70,000, if you have $45,000 in grants and a student loan of $5,000, there will still be $20,000 left to pay.
That sounds much more than what your parents are willing.to pay, and costs go up every year (COA increased by about $2,000 from 2017/18 to 2018/19).
Especially in the future after your brother graduates. Your EFC would increase a lot and you need to know how much less aid you will receive in the last two years.
I’m not living on campus, so according to my financial package, i’d Have to pay 8.9k my first year and that’s without work study. With work study, I’d have to pay half of that and my parents could cover that. But I see your point. My COA would eventually surpass 10k.
I tried the net price calculator earlier when you told me to. How many siblings are in college didn’t affect it significantly and I read up a little about it, where I found out that some colleges don’t give it too much importance.
I did apply to both CUNYs and SUNYs, but at this point, they’re my absolute last choice. If it’s not Fordham, it’s probably going to be St. John’s.
Are you absolutely positive that financial aid package is for off campus commuting students? Did you check NO for living on campus on your financial aid application forms?
I got a really good scholarship at St. John’s and that’s without grants. With grants, most of it will be covered and I could pay the rest with work study. Trust me, I would never go into all this without thinking it through (hence the thread.) My family wants me to take loans but I don’t want to be rash.
Yes, I made sure Fordham knew I plan to live with my parents.
I’m not sure about the commute since we’re planning to move closer to which ever college I decide on. My EFC was 0 on my SAR report. Yes, I qualify for TAP and Pell Grant.