<p>We're new at this (hence the name). S is a senior starting the application process. Currently he has 15 schools on his narrowed list - a balanced combination of matches, safeties and reaches. We're giving him a pot of money for each year and the rest is on his own through jobs, merit, financial aid and/or loans. We've had a major financial hit (job loss/new one pays less) so we can't help as much as we could have in the past, yet based on what I've read I don't know how much aid we might qualify for at our new income level. I think it would be best to go for a shot-gun approach to many schools so he has a few options based on academic AND financial fit. He doesn't want to graduate with too much debt. At some schools that will be possible, while others he will need substantial aid and loans. So, with that in mind - </p>
<p>1) how many applications are too many (all but two are common app and maybe half have a short additional essays)
2) he's applying to two early action, both of which are financial reaches. Should you say yes to the "Will you be applying for financial assistance?" question? Does that hurt your chances? (I've heard conflicting stories). Does the same apply for regular decisions?</p>
<p>thanks in advance - sorry for the lengthy storyline....</p>
There are many online FAFSA estimators. These give you a ballpark figure, although after that schools will differ in their need number, how much of need they will meet (eg. some schools “gap”), and the package mix of loans vs grants.
There are conflicting answers because different schools handle full-pay candidates differently. But how can you win by gaming this? Are you going to apply, and then if you get an EA acceptance turn around and say “just kidding, we want to apply for FA?” If these schools are financial reaches for you, it doesn’t sound like you have the option to apply and forego FA.</p>
<p>Each college and university has a Net Price Calculator on its website. Use those to get your own best estimates. Please remember that if there is something unusual in your situation (divorce/remarriage/small business/real estate other than the family home), the NPC may not give good estimates. Our financial situation was simple, and the NPCs were to-the-dollar accurate for Happykid’s financial aid offers.</p>
<p>As for the apply for aid or not question: if he would need aid to be able to attend these places, then he’d best apply for it. Anywhere that doesn’t admit him because he’d require too much aid money to attend, is a place he doesn’t want to be at anyway.</p>