<p>Since we started the college search a bit for my 11th grader, I'm realizing that a great tool would be a chart listing the costs (in-state & out of state) for colleges around the country. Nothing fancy, just the $$. That's a major factor for us. I was going to start to make one, but thought I'd throw it out there and see if anyone else knew of a website or other place to find this info, before I tried to reinvent the wheel.</p>
<p>Net cost after financial aid is summed up in the U.S. News "best values" chart, which is in the giant version of the U.S</a>. News guidebook and I think also available on the U.S. News website if you pay for a subscription. A really good free article about how to compare financial aid offers (by two economists) and how to compare value of colleges is </p>
<p>Don't reinvent the wheel. Also, don't just look at sticker price, which I am sure you have found out is shocking. Look at % of students getting merit aid, and need based grants and the dollar amounts. I like USNews' site (cost is about $15). They break down aid to out of state and instate students for the public schools. If you don't want to pay, you can also refer to the collegeboard's site. Neither is a list, but has the information school by school. Hope this helps a bit. Also, National Center for Educational Statistics has helpful financial information and is a free site.</p>
<p>Jolynne, using the sticker price as a selection tool is not a very good way to go about making up a list, unless you are looking at schools with a no-merit aid policy and you are certain you are ineligible for any need-based aid.</p>
<p>Even without eligibility for need-based aid, very few of the schools on my son's list would have come in at sticker-price.</p>
<p>Furthermore, there are often hidden factors--good and bad--that ultimately make a difference in real COA. As examples, some schools have a required supplemental health insurance, others let you opt out under some circumstances. My son's school has a relatively high room and board charge for freshman (19-meal plan obligatory), but then it returns unused meals as credits for snack bars, in-town restaurants and taxi fare. Some schools have started to charge for wireless internet access and cable TV, others do not.</p>
<p>But the main factor is the wide variance in need-based aid and merit awards, and it would be foolish to strictly limit the "list" based on published sticker price alone.</p>
<p>I agree with midmo. To add to midmo's examples, we have friends with a son at a private school. Meals are ala carte, rather than at least one dining hall that is all one can eat. What they pay for dining (and that is the amount used to calculate cost of attendance) is 800-1000 too little. That is the amount that his parents have to add so that he can eat properly. This student is a male, but he is a thin male. The money paid for the meal plan is not truly not enough for many students. Many schools have a list of extra fees, and it can add up to a lot of money. Other schools minimize the extra fees, so the sticker price is truly the sticker price.</p>
<p>Great information (as always, from the CC parents!)! </p>
<p>I can see maybe it's not as simple as it looked (we started w/an in-state public school & I was surprised at how affordable it looked - relatively). </p>
<p>Son is looking at more pricey-schools, now, thought--from the 'sticker' standpoint (prefers Drexel to state-school Rutgers--we're from NJ). I guess I shouldn't rule them out.</p>
<p>I will definitely check out those websites, plus the princeton review info.</p>
<p>I'm a big fan of petersons.com It help my girls begin their lists and you can do a side by side comparison that includes the all important, for us anyway, "average indebtedness upon graduation" figure.</p>
<p>Also make sure you don't toss out a school just because of the initial sticker price. My colleague sent his kids to a top ranking $40.000 a year LAC for less than in-state "fees" at UC Merced.</p>
<p>Make sure you always look at tuition, room and board and FEES; many state colleges have low tuition but outrageous fees because the legislature must vote on tuition raises but the college itself can raise fees. I know someone who got a full tuition scholarship but it was almosts nothing because all the fees were so high.</p>
<p>northeastmom, yes, by sticker price. Best Value Colleges as well as the dreaded USNWR both give discounted average prices and average debt and rank colleges, USNWR strictly by numbers; Best Value Colleges by an academic value (subjective)/discounted cost ratio. I believe Williams scored #1. Just for general interest I can say that I have one at Barnard and one at Williams and the aid packages were within $500.00 of each other.</p>
<p>I've put off looking at the financial side of things as long as I can...time to get serious. My parents are trying to figure out the best way to contribute a couple of grand toward son's education w/the fewest ramifications to his eventual fin. aid package. Guess we'll find that out as we go...</p>
<p>A couple of grand? It would be easy to contribute a couple of grand without ramifications for financial aid. That is the cost of two years of textbooks. Just send them the bill for the books. Or have them buy a laptop as a graduation gift.</p>
<h1>13. Best way for GP to contribute is to use a 529 College Education Fund sponsered by the GP's state. They can get a tax deduction if they are in a state that has this incentive.</h1>
<h1>13. Best way for GP to contribute is to use a 529 College Education Fund sponsered by the GP's state. They can get a tax deduction if they are in a state that has this incentive.</h1>
<p>I see---true about the negligable impact of just several thousand dollars. I'm not sure exactly how much..but it's likely to be in that ballpark (I'm discouraging them from giving more; want them to keep it if they need it).</p>
<p>I think they want to do something now, rather than wait until my (now 16 year old) son has a 'bill' to submit, though (they are in their early 80s...don't like to think about that....).</p>
<p>Thisoldman--do you think it matters if it's their own 529 or the one my hub & I have set up? I'm thinking I want them to have their own thing to give to my son..not just mix it in w/ours...</p>
<p>If DS is less than 18 and his GP are not or minimally paying taxes, They may want to investigate Coverdell because that money can be used in HS years for the education of son. "Education" is a pretty broad term and means differently in a Coverdell setting vs 529.</p>
<p>If 529 is the option that is selected, GP should setup as the owner and DS as beneficiary. This is because this money will not show up in either FAFSA or the Profile. (theory is that this money is not in the control of the parents or child and therefore that money can be reallocated or disposed of at will). There are specific tax issues that can arise with senior citizens gifting money.</p>
<p>If Coverdell is setup, same rules and theory applies as mentioned for 529. Let GP setup the account. Seniors gifting issues.
Suggest you talk to some type of advisor(s).</p>
<p>Great tips, thanks a lot thisoldman! My parents are actually meeting with a tax/elderlaw attorney this morning so I will pass along that info. I knew a 529 was "good" -- just didn't know that funds in that would not show up on the FAFSA or Profile. My dad expressed concern about that. </p>
<p>Hopefully attorney can give them some good guidance. I gave them a list of 'talking points' on a spectrum of issues.</p>