We are in the donut as well. D was accepted to 8 lacs, all with merit. The merit awards ranged from $5k to $25k, with the two highest awards coming from schools where she was a legacy. The final cost to attend ranged from $29k to $60k at the places she was accepted.
It seems like the highest variability in awards occurs for the kids just beyond the need-based cut-off. For families in that segment, whether applying to Furman or elsewhere, I would suggest applying to a wide enough selection of lacs that your child can actually see herself attending, so you can get a good comparison of merit offers. There is a good discussion of this over on the Southern LACs thread. Along with Furman for example, one might consider Wofford, Sewanee or Rhodes.
Need-based aid is that it can change from year-to-year (sometimes in a negative way). My kids overlapped two years. D’s LAC came through with aid the two years they were in college at the same time. Because S did not have need aid, his costs remained the same at Furman after D graduated. I have known of families with huge tuition jumps (and loss of need money) when a parent got a significant raise or inheritance as well. When an older child graduates, the aid also can decrease if it is need-based for the younger.
@ Hornet you are right about the middle class kids. My husband was a music major when he attended Furman on a music scholarship. He was actually the first music major who took the pre requisites for medical school as electives. This is now a plan they have used for many kids since then. It was funny when we toured they mentioned it ( that some. Music majors can go on to medicine ) DH was laughing.
Furman has an amazing music department and I have no doubt those kids get nice scholarships that make Furman more affordable. D is a great clarinet player ( like her dad) but is not passionate enough about it to want to play in college.
I do think they are going to need to re think the tuition. They recently eliminated ( or talked about eliminating) the golf program there. I just think something is off with their financial management. Yes, they have a beautiful campus that is probably really expensive to manage but so do a lot of other LAC. In general the cost of college is skyrocketing to the point where all schools are ridiculous. I mean when we start saying a college that is $48,000 is " affordable" what the heck has happened. That being said to be a full $10,000 more ??
It is interesting to me that the new president has a doctorate in accounting. Maybe that is part if the reason she was hired. I have a son who will go through this process in 4 years or so, that should be enough time for her to get in there and implement her vision ( whatever that should be ). I’ll be curious to see what the landscape will be like then. I seriously doubt we will consider Furman. I think we may even stop donating as alums. When D was accepted at Sewanee I was shocked to hear my husband say I hope she goes there. That comment was not only about the cost. Taking a closer look at Furman through this process I think was pretty disappointing for him.
My daughter toured Furman a couple weeks ago and spent the night on campus with the daughter of a family friend. Another family friend has a son at Furman. Both students love FU but both complain about the social life. They feel it is a bit like HS in some ways. But Greenville is a fantastic town with much to do, however, a student has either got to take a shuttle or drive. There are a few places to eat in Travelers Rest, but that also is not right next to campus. The campus is beautiful but a bit isolated. Every student we came into contact with was cheerful and polite. Of course, the size is also a Furman positive in that you won’t take Econ 101 in an auditorium with 500 other students. All of the students with whom my daughter spoke mentioned that their professors were easy to contact and willing to help when needed.
There is drinking and parties on the FU campus and some drug use as well. Of course, there is a difference between a 30K student school where one can find a party or social activity every night of the week and constantly meet new people and a school like FU where everything is done on a smaller scale.
Another positive which sets FU apart from most other LACs is that FU at 2,700 students FU really does feel much bigger than many 1,800 student LACs. Having a D1 sports program also helps.
Personally, I think FU would be a great fit for my daughter but I understand those who feel it is just a bit too small.
@momamegan - interesting the connection between undergrad music major and med school. Our older child is about to graduate from U of Rochester where there are a ton of undergrad pre-med kids as well as a few hundred at their Eastman School of Music. Some of the Eastman music majors have gone on to med or dental school. IIRC a recent parent magazine said U of R had looked at all undergrad majors to see which major had the best odds of med school acceptance and the answer was…religion majors. Seems many med schools also like well rounded classes and the thought that one must only major in bio or chem to gain entrance to med school is not accurate.