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<p>How do you know your “EFC with the Profile”? The Profile schools ALL use different formulas to compute the family contribution based on the information you provide and how THEY determine they will use it. Unless you have gotten a financial aid award from a Profile school, you would have no way of knowing your “EFC with Profile” except as an estimate.</p>
<p>Schools that meet 100% of need vary in how they package financial aid awards. The thing that is an absolute…your need based award will NOT cover whatever the family contribution is. Some schools package loans as part of their packages and some do not. Some schools do “preferential packaging” meaning that the more desired an applicant you are, the more grant aid, and less loan aid, you MIGHT receive. </p>
<p>Read post 12 again. It says it all. Awards from Profile school can vary WILDLY…by THOUSANDS of dollars simply because the formulas vary.</p>
<p>I think you need to wait “until the end of the day” when all of your student’s acceptances and financial aid packages have been received. Then compare your bottom line costs if that is the deciding factor for your child. Or weigh the packages, the schools, and make a decision. Regardless…you have no way of knowing how your financial aid packages from those Profile schools will look…and compare…until you actually RECEIVE the packages.</p>
<p>And IMPORTANT…the need based aid packages you receive are for ONE year only. You will have to submit your financial aid info again for each subsequent year for consideration of need based aid.</p>