<p>34 ACT, 2270 SAT, varsity athlete, plenty of ECs.
Interested in engineering.</p>
<p>Looking for a safety school, financially. I can afford like 8k a year after need+merit. If even that. That includes books, room+board.</p>
<p>I'm applying to schools that are generous in need/merit (Vanderbilt, Case Western, Tulane, Rensselaer, possibly Emory, Washington&Lee), but I'm worried that I'll just get screwed over if I get accepted to them all but don't get the merit I need.</p>
<p>GPA?
In which state do you live?
Is the 8k a year in addition to taking out Stafford loans or are you including the 5500 in Stafford loans in that 8k?
What is your families EFC?
Do you qualify for Pell?</p>
<p>I’m a competitive candidate. 3/700, 4.6 weighted.
8k is everything considered. In fact, it’s all loans. EFC is around 20k. Texas. Not eligible for Pell. Debt sucks.</p>
<p>If your EFC is 20k, but your family isn’t able to pay anything, then you need to take a long hard look at the community colleges and any public universities that you can commute to. With Stafford Loans and working part time, you should be able to pay for a community college, and you might be able to pay for a public u. </p>
<p>Go to the Financial Aid Forum, and search for threads about guaranteed scholarships. You are in the range for money at a number of institutions. Some have December 1 cut-offs for scholarships, so you need to move fast.</p>
<p>With the OPs stats, the classic big merit aid schools would probably work too. Auburn and Alabama seem to be mentioned most here.</p>
<p>Pancake, things are especially complex when you can’t afford your EFC. It eliminates the generous need based but no merit aid schools. Those you’d probably have been aiming at with your stats. You should have a hard look at the merit aid threads here. Good luck!</p>
<p>If you’re going to apply for big merit from Alabama and Auburn, then you need to apply soon…deadline is Dec 1st.</p>
<p>Bama would give you the most…full tuition plus $2500 per year…but you’d have to submit your app now. This money is assured if you apply by Dec 1st and get the scholarship app in AND you list engineering as your major… Luckily the app is super easy…no essays or teacher recs</p>
<p>So, total worth is over $90k.</p>
<p>Since you have an ACT 34, Bama would also likely give you an additional $4000 per year. This last part isn’t assured. </p>
<p>Auburn cut their scholarship to 2/3 tuition, so probably not affordable.</p>
<p>*Pancake, things are especially complex when you can’t afford your EFC. It eliminates the generous need based but no merit aid schools. Those you’d probably have been aiming at with your stats. You should have a hard look at the merit aid threads here. Good luck! *</p>
<p>Very true…if you have an EFC of $20k and your family can’t pay it, you’re in REAL trouble at probably most or all of the schools that you’re applying to. </p>
<p>How do you plan on covering the gap in aid you’ll get because of your EFC?</p>
<p>**
I think you misunderstand merit aid.** Merit aid (unless it’s super big) is not going to reduce your EFC at these schools…it’s just going to reduce your aid.</p>
<p>For instance…those schools cost $55k+ per year. If they say that you have a $35k need, but they give you $20k in merit, that just means that they are only going to give you $15k in aid. You’ll still OWE the $20k. Do you understand that?</p>
<p>Many people mistakenly think that if they have an unaffordable EFC (such as $20k), that if they get a $15k scholarship, then they’ll only have to pay $5k. That’s not true.</p>
<p>Or put simply, merit aid first reduces need.</p>
<p>From what I see, the bottom line if you have a $20k EFC you can’t pay is that your choices will be the big merit aid schools (the handful that give just about COA but are never high on high stats kids’ lists) or your state flagship. A rare few with truly top stats/profile will get merit from UNC, UVA and a few other top-ish schools.</p>
<p>Woah woah woah mom2collegekids. My mind was just blown.
So. Vanderbilt for example. They meet 100% of need and average 17k in merit, according to the data I have. Are you telling me that, if they gave me 20k merit, they’d essentially just be giving me 20k less in need and I’d still have to pay the difference?</p>
<p>I don’t understand how this can be true… If a school guarantees to meet 100% of need, why even apply for merit scholarships, if it wont add any money…? </p>
<p>There are only a couple of ways to reduce EFC…</p>
<p>1) go to a school that costs less than your EFC</p>
<p>2) get a HUGE merit scholarship that is soooo big that it covers all need and THEN cuts into EFC</p>
<p>Example #1</p>
<p>$30,000 COA of an out of state public
$20,000 EFC
$10,000 “determined need”</p>
<p>Aid package…
$20,000 merit per year (for instance, a free tuition scholarship)
$2,500 merit scholarship (for instance, a dept scholarship that is stacked)</p>
<h2>$5,500 in student loans</h2>
<p>$28,000 financial aid package.</p>
<p>Since the school has a COA of $30k and your aid package is worth $28,000, then all you have to pay is $2000. You’ve cut your EFC by 90%!</p>
<p>The merit aid can also replace the loan part of your need, and that’s worth quite a bit. How would you like your statement to be $17k loan plus $18k grant?</p>
<p>You should feel lucky that you live in Texas, a state with great public schools at very attractive prices. Your situation is actually pretty attractive from my family’s standpoint.</p>
<p>*Wow. Wow wow wow. I have just lost all faith in the college system. Such a freakin scam.</p>
<p>Summary is I won’t be able to go to ANY of the schools I want to. Despite a good resume. ■■■.*</p>
<p>As horrible as this may seem, thank goodness you found out now. Many kids don’t find this out until spring. </p>
<p>Even some Texas state schools might be a problem since COA is about equal EFC…meaning that the family would be expected to pay all costs.</p>
<p>Pancaked…</p>
<p>Since many schools have Dec 1st deadlines for scholarship apps, you need to QUICKLY get some of those apps in.</p>
<p>34 ACT, 2270 SAT, varsity athlete, plenty of ECs.
Interested in engineering.</p>
<p>With your stats, you could get big merit at some schools. Right now, you’re shocked, but don’t let that shock keep you from applying to some schools that may end be your only affordable choice.</p>
<p>*I have just lost all faith in the college system. Such a freakin scam. *</p>
<p>If you mean “scam” because all they talk about is financial aid without mentioning that you have to qualify for such aid, then yes, it is a bit of a scam.</p>
<p>I mean it’s a “scam” because tuition’s price far exceeds its value and people without money are at such a huge disadvantage. Capitalism at its finest.</p>
<p>Wait…if you have a $20K EFC, your family has been enjoying capitalism. You have much more money than most.</p>
<p>What is sad is all of the financial aid myths. Kids and even parents often believe that all colleges are possible when the truth is that it’s just not true. It is the rare kid who can attend any college regardless of price. The top few percent whose parents can afford $50K plus and have great stats and the truly poor with great stats have lots of choice.</p>
<p>Everyone else chooses a college based on their financial reality which is why most attend state schools.</p>
<p>With your stats there will be many schools you can go to. They may not be </p>
<p>Vandy or an ivy, but you will have way more options than most. So try to see the bright side and good luck!</p>
<p>Pancaked you have such good stats and you seem hardworking. If you get into some school with big merit, then you’re essentially a big fish in a small pond. That could have a lot of advantages for you - internship/research opportunities etc. if you take them up. So good luck!</p>