Is it me or

[2plustrio]

7k a year for each of the 2 years. 7k is much less than 20-30k a year and is a huge cost savings.

Glad this was much ado about nothing and that your son has found 3 options that work for you both.

[Creekland]

@Billb7581

At the beginning of this thread I was basing this off of calculators

Now that I have the FA letters in hand, there are 2 that come in for what I can reasonably swing and a likely 3rd

The calculators were 30 percent off in both cases for the privates.

I’m really glad to read it’s working out for both of you. Many students at my school have to work out finances and it’s rewarding when they get something that works allowing them to do what they like. Wealthy kids/parents have no idea what many go through, but as others reported on here - 'tis actually the norm in many places, so you’re not alone.

McDaniel and Susquehanna both have students I know who have come back reporting they loved the school. Albright doesn’t have as good reports, but it’s due to cliques there (according to the students). I suspect those within the group enjoy it, so just make sure your son enjoys the vibe if he chooses it. Different fits for different students.

[mom2and]

Glad to hear that the schools are offering better FA. I would check to make sure that the FA is renewable and will be relatively the same moving forward. Come back and let us know what your ds decides!

[thumper1]

So…you have two affordable options and possibly a third affordable option.

We can’t tell you why the net price calculator isn’t the same as the actual award. All,we can say is…NPCs are an estimate. The actual award is what matters and those are looking good for you.

Are you self employed? Own a business? Own real estate other than your primary residence?

[Billb7581]

But 74K plus transportation isn’t significantly less than 80K

[Billb7581]

@thumper1

Are you self employed? Own a business? Own real estate other than your primary residence?

None of the above, I punch a clock.

[Billb7581]

@CottonTales

Stop and think, your son isnt going to the NFL.

Actually a kid from his HS did just that… HS>D3 football> Starting in NFL but that would be equivalent to hitting the lottery.

[thumper1]

Every college has its own unique formula for awarding need based aid…as well as criteria for awarding merit aid. You are seeing that yourself with the financial aid packages you are getting.

How about celebrating those successes as your family and son have some options now which have come in under your price point.

[Billb7581]

I have to talk to the FA offices because our finances are looking to improve going forward.,

I have to figure out if need based aid scales linearly or logarithmically LOL

[thumper1]

It’s not a dollar for dollar increase.in other words…if you earn $20,000 more, the college doesn’t take all $20,000.

But these schools don’t guarantee to meet full need for all students. Right? So really, it’s hard to predict what they will do in a year…but yes, give the financial aid offices a call. Honestly, for need based aid, you apply every year so it’s not likely they can promise you anything for subsequent years.

Merit aid shouldn’t change.

ETA…since you were living on whatever income you had…perhaps saving some of the additional income from your wife’s job in particular could help with future college costs.

Also, when your daughter graduates, that will throw another kink into your financial aid because you will only have one student in college at a time.

[Billb7581]

@thumper1

ETA…since you were living on whatever income you had…perhaps saving some of the additional income from your wife’s job in particular could help with future college costs.

Yea long story, she had the job half of last year, but I was out of work 3 months, trying to get caught up from that ordeal, and the ensuing medical bills. My short term disability was 300 a week after deductions LOL

[thumper1]

Yes, but that is all behind you. You are back at work, and she has a new job. Look at this as a positive thing! Having more income in your family is never a bad thing. Never.

[Billb7581]

@Creekland

McDaniel and Susquehanna both have students I know who have come back reporting they loved the school. Albright doesn’t have as good reports, but it’s due to cliques there (according to the students). I suspect those within the group enjoy it, so just make sure your son enjoys the vibe if he chooses it. Different fits for different students.

We haven’t officially visited Albright…we have driven by a few times, and it doesn’t really stand out in any way, but what appeals to me mostly is their FA has much less need built in, so there is less to take away LOL.

We loved McDaniel, every student we talked too completely switched majors, and still were able to graduate on time, with the way their “McDaniel Plan” is set up but their offer includes a lot of need, (that would potentially/likely go away) so that has to factor into it.

[Billb7581]

@thumper1

It’s not a dollar for dollar increase.in other words…if you earn $20,000 more, the college doesn’t take all $20,000.

Yea I get that, I am trying to figure out if my EFC increases 50% does my need reduce 50% or is it a series of brackets, with steep declines.

The whole thing is puzzling though.

[thumper1]

@Billb7581

Yea I get that, I am trying to figure out if my EFC increases 50% does my need reduce 50% or is it a series of brackets, with steep declines.

This is very school dependent. At some schools, there is a threshold for need based aid amounts…and if you go above that income amount, your aid is reduced more.

Plus, did any of these schools actually meet your full need? I’m not talking about what you think you can pay…I’m talking about the calculated numbers. If a school did not meet your need this year, you may find they don’t change at all next.

As an example, my first kid went to a private university where we were not eligible for need based aid at all. The college did not guarantee to meet full need for all. In fact, our EFC per FAFSA exceeded the cost of attendance. Well…then we had a second kid enroll in college. Of course our FAFSA EFC was half. Well…kid one got $250 more added to his merit award, and still didn’t get need based aid. (He had a decent merit aid award!).

Converse…kid two was in college and we were pretty much full pay because her school also didn’t meet full need. When her sibling graduated, her aid didn’t change one bit…they still didn’t meet full need.

It sounds like you have two, maybe three affordable options on the table. Like I suggested…run the NPC with the higher income numbers and get an estimate anyway of the difference.

[Billb7581]

@thumper1

Plus, did any of these schools actually meet your full need?

Nah, I wish.

Gapped me 18-20K

I almost want him to throw an app into a comprable school with no coaches or anything feeling him and our financial situation out and seeing what happens.

[mom2cats]

@Billb7581 congrats on McDaniel!

[2ndthreekids]

I have to stick up for the OP here. I am from the same area he is from…and the public transportation options are by far the worst of any of the 6 states I’ve lived, unless you live near the speedline and commute to Philly. Car insurance for a male under 25 is outrageous in NJ. And cc options in NJ are also both more expensive and less available than pretty much anywhere else I’ve lived. Say what you will about CA, but I have 3 sizable cc campuses within 12 - 20 miles of my house, and public transpo within walking distance that will get to any of them 45 min - 1.25 hours. And our CC is free for full time CA HS graduates, with an automatic acceptance path to a UC campus if one follows the plan.

[mom2cats]

@2ndthreekids thank you for saying this. I’m further north in NJ but not far and it’s very difficult to get around without a car. I tried to get to the train station once and the bus was like 90minutes vs 10 by car. Our cc is not free unless you’re at the top of your class.

[2ndthreekids]

CC in NJ is definitely not the ‘affordable’ and easily accessible option it is in other states, that for sure!