<p>Up until three years ago when the economy tanked our family was making in the range of $150,00 to 175,000 a year my daughters first year in college. Now she is going to be a senior and we have a son entering college this year. Since that time our income has dropped substantially (even laid off for a time) to now in the range of between 44 to 53 thousand a year. 2008 was 150 plus, 2009 at 44 and 2010 at 53. In that time frame and filing with fafsa, the amounts we had to pay for my daughter were for the most part the same the first three years even with that type of drop income and we do not have any other money in stock or banks. We applied with Fafsa for my son this year and now have two in college and we recently received our awards and amounts to pay. Was shocked at how little it was. Called the school for my son and we are now going to discuss with them on Monday. I did look up on fafsa our efc number and it was 02511.
With that number and the school (private) running about 45 thousand a year just for him, and 31 thousand for my daughter, what should I expect as far as help? Appreciate any response.</p>
<p>I’m sorry that you’re going thru this. :(</p>
<p>Do these schools promise to meet need? If not, then these schools (especially the son’s school) may not have been the best choices. </p>
<p>Many privates have little aid to give outside of federal aid. I know that shocks some people because the myth is that privates have all this aid to give away. Many have little aid to give away outside of federal aid…which isn’t much. </p>
<p>Keep in mind that schools believe the primary responsibility to pay for college lies with the family. </p>
<p>Why are you just getting these aid packages now? Was your son a transfer student? did he apply late? Freshmen usually get their aid packages in the spring. </p>
<p>Transfer students often get lousy aid, so if that’s the case…</p>
<p>Which schools are these?</p>
<p>Your son may have to take a gap year and reapply to schools that either meet need or will give him merit scholarships for his stats.</p>
<p>Are you sure about the aid packages in the spring? Not a transfer student. Fairleigh Dickinson for him and he did apply a little late. Ramapo in north jersey, a state school for her. Fairleigh during the meet and greet for parents, in the open house meeting, someone asked about the financial package and it was stated on average its about 20 grand. Not offering us that much which seems to be stretching the truth a little bit. He was accepted at another school and not sure if we could have gotten more. Their is a caveat in that he plays golf. Not a division one player but definitely a div 3, which in either case gives no money for sports. The other school might have had deeper pockets I am thinking.</p>
<p>MSCH635, I am so sorry to hear about your situation. With that EFC, your son and daughter should be eligible for the Pell Grant. Did the FA package have this? Having two students in college will also lower your EFC, which could be one reason why your EFC decreased (this is good).</p>
<p>Sadly, the student loans plus pell grant would come no where close to meeting the COA for the schools. What is the difference between the COA and the award package? Your best bet is to ask if there is any institutional aid that can be given and explain clearly that your family has had a dramatic decrease in income (by two-thirds). Has anyone been in an accident? Medical bills may help prove a case that you need more aid.</p>
<p>As for loans, there are maximums placed for the federal student loans. Any remaining amount for the COA would have to come from your pocket or a private loan. If no solution can be reached with the school, your children’s best bet is to take a year off and try to work and save money for school. Additionally, they could also attend community college and commute from home. With the pell grant award, community college should only cost a few thousand (1-5k per student depending on the CC).</p>
<p>Also, when I applied to college, I was not given a financial aid award until the end of May. This award was only loans! The award was continually updated with grants and changes in the loan amount as the summer progressed (through the end of July). I didn’t have a FINAL package until right before the bill was due.</p>
<p>Fairleigh Dickinson does not promise to meet full need, and it’s unlikely they will have additional aid to offer you. Unfortunately, your son needs to explore more financially feasible options, such as your state schools.</p>
<p>What they said is accurate, according to the information on the collegeboard website. The average help is 20,000, but this is not the average GRANT. The average financial aid PACKAGE is 20,500.</p>
<p>Financial Aid Statistics
Full-time freshman enrollment: 402
Number who applied for need-based aid: 330
Number who were judged to have need: 305
Number who were offered aid: 305
Number who had full need met: Not reported
Average percent of need met: Not reported
Average financial aid package: $20,500
Average need-based loan: $2,655
Average need-based scholarship or grant award: $11,250
Average non-need based aid: $7,801
Average indebtedness at graduation: Not reported</p>
<p>I don’t know which FDU campus your son is planning to attend, but this is the information on the CB website for the Teaneck campus. If your son is attending the other campus, just look at the CB website to look at their financial information.</p>
<p>As you can see, the average need based grant is 11,250.</p>
<p>Also, why didn’t your son get a financial package from the other school where he was accepted? </p>
<p>We compared financial aid packages from quite a few schools. My son had all of his financial aid offers by the spring of his senior year.</p>
<p>Are you sure about the aid packages in the spring? Not a transfer student.</p>
<p>For a freshman? YES!!! How else could freshmen commit to their school in MAY if their FA package came in JULY???</p>
<p>Can you imagine that!! High School seniors would be committing in May and then, lo and behold, schools would then give crappy packages in the summer because the kid had long turned down other schools. It would be a disaster.</p>
<p>Freshmen usually get their acceptances AND their aid packages in March/April, so that they can make their final decision by May 1st. </p>
<p>For your frosh son to get his FA package THIS late suggests a very late application and/or a very late submitting of FA documents.</p>
<p>It is highly doubtful that you’re going to get the money you’ll need at this point. The school probably gave you your Pell grant, a student loan, and maybe some work study and other small aid. </p>
<p>it was stated on average its about 20 grand. Not offering us that much which seems to be stretching the truth a little bit.</p>
<p>No…not at all. AVERAGE means AVERAGE. That means some get more (maybe $25k) and some get less (maybe $15k)…and when you add up all the amounts and divide by the number of students, the average is about $20k in aid (not grants). They didn’t say all students get at least $20k in aid…they said that is the average. </p>
<p>$20k in aid can give a student about $10k in loans and work-study…leaving only about $10k in grants (some which may be Pell or state aid). That can mean that the school gives very little institutional aid.</p>
<p>I wish that those Collegeboard stats broke out grants into fed, state, and institutional to give a more clear picture. </p>
<p>FD
tuition and fees: $32,973<br>
Room and board: $12,046<br>
Books and supplies: $1,000</p>
<p>I’m curious…if you thought he’d get about $20k in aid, then why would you think that this school would be affordable?</p>
<p>I think your son needs to do a gap year and apply again In the meantime he should NOT take any CC classes because then he’d lose his incoming frosh status for the best aid and merit. If he does this, he needs a strategy that will work. It sounds like you guys got some very poor advising.</p>
<p>How many CC classes can a student take without losing frosh status for financial aid purposes?</p>
<p>Some schools have a rule that any CC class taken before high school graduation is ok…but none after.</p>
<p>Some will allow a CC class or two during the summer before starting frosh classes.</p>
<p>You have to ask each school what its policy is. </p>
<p>That’s why it’s just safer not to take ANY CC classes during the gap year, wait til acceptance and money awards…and then ask if you can take a CC class over the summer before fall enrollment.</p>