<p>I'm already accepted to one of my top choice school (Texas--Plan II), but if I can get a better bargain at another school, then I just might change my mind.</p>
<p>My question is how does Vandy do on merit aid? Specifically, my family probably makes about $150k a year. We've got quite a bit of debt, not so much home equity (though a big expansion is the reason for the debt), and two kids in private school.</p>
<p>I would get a national merit scholarship of $5k unless I qualified for another merit scholarship.</p>
<p>Would someone like me qualify for any need-based at Vandy?</p>
<p>You asked how Vandy does on merit aid and then asked about need-based aid in the last sentence. As far as need based aid goes, you should plug your numbers into one of the many EFC calculators available and see what the institutional method yields. Vandy is one of the most generous schools for need based financial aid, so the EFC calculator should be a good indication. A great description of Vandy's merit aid programs can be found at Merit</a> Scholarship Programs.</p>
<p>Yes I know, but because the year isn't over yet I don't have my parents tax documents...so I can't calculate the exact EFC. Also, there are multiple methodologies.</p>
<p>I was just asking whether anyone knew whether someone with similar financial stats to me ould get any need based? And whether it would be mostly grants or loans?</p>
<p>You can plug estimates based on last year's taxes into the EFC calculators. Unless things changed dramatically, that would be a good starting point. It is hard to answer your question without more info, like your income, your savings, parents savings and investments, unusual circumstances such as high medical bills or anticipated change in income (up or down), unemployment, etc. High debt, such as credit cards or auto loans, does not usually affect EFC. There is an EFC calculator available on the collegeboard Web site as well as at FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid. They will calculate using both institutional and Federal methodologies.</p>
<p>We found Vandy to be extremely generous with need based aid. Our package included minimal loan & work study. When comparing aid packages, make sure you compare apples to apples. Take out just tuition/room/board/fees for each school ... then subtract just "free" money (grants) for each school. See what the bottom line is for you. Some schools give you what looks like a great package, but there may be lots of self help packaged in (loans/work study). We found that Vandy was the best of all D's schools for purely need based aid. Of course, if a school gives you merit aid, that school might come out better for you (that happened to us). If you are not going to get merit, though, I can tell you that Vandy will be one of your best bets. This assumes, of course, that you have unmet need. No school is going to give you money to meet your EFC (unless you appeal & have extenuating circumstances --- and even then, not all schools will be swayed).</p>