<p>Sorry, I mean, would it drop to $20K.</p>
<p>^
Donāt know about the Net Price Calculator. I donāt think that has anything to do with determining financial need. The EFC (Expected Family Contribution) that is generated by completing the FAFSAS is what college go by to determine financial need. My D has a 4-year JF Oberlin Scholarship. But each year, Iāve had to go online and complete the FAFSAS. The EFC generated does not take into account her ongoing merit scholarship. The financial aid office will look at the EFC not the Net Price Calculator. Iāve never bothered with the NPC. I think itās just for parents/students so they can get an idea, but itās not reviewed by the financial aid office.</p>
<p>Plainsman, the Net Price Calculator is new as of October, and itās federally mandated that every college has one on their websites. It give much more detailed information than the FAFSA EFC regarding the specific aid a student can expect to receive from a particular institution. Oberlinās Net Price Calculator was developed by our Financial Aid Office to very closely mirror their awarding methodology, and any net price it gives should be very similar to an actual financial aid award from Oberlin. </p>
<p>In answer to teddadās question, the NPC is very accurate for need-based aid, but canāt do a complete merit aid evaluation, so, yes, it is possible that you might receive some additional scholarship money.</p>
<p>Thank you, but I still donāt understand how merit aid relates with the Net Price Calculator result. According to the calculator, our net price is $35K without any merit aid. If we receive $15K in merit aid, does that lower our actual net price to $20K, or could is be $25K or $30K?</p>
<p>Iām not a financial aid expert, but in your specific situation, if you receive merit aid from Oberlin, it probably will not have much of an impact on your out-of-pocket costs. This is because Oberlin scholarship money generally replaces Oberlin grant money in an aid package. If you want to know for sure, though, please contact the financial aid office.</p>
<p>
</p>
<p>Thanks Elizabeth. My D is a junior. I wasnāt aware of this new thing. But is the NPC a requirement to apply for financial aid? Or is it just a tool to inform parents if they want to use it? Iām assuming the FAFSAS is still mandatory to actually apply for fin aid, and will still generate an EFC that will be used by the financial aid office. Is that correct?</p>
<p>The NPC is just a toolāsort of an āopen disclosureā thingāthat the colleges are now required to put on their websites (as Elizabeth said). </p>
<p>And since I just finished and sent off these forms, you will be filling out a FAFSA for all the schools that your D applies to, and also the CSS Profile (thereās links on Oberlinās Financial Aid page) for Oberlin and any other of the schools she applies to that require it. My S is also applying to several LACās, and most of them require the CSS Profile as well.</p>
<p>Trumpetguysmom is correct, the NPC is just a tool for families. The FAFSA and the CSS Profile are still required to actually apply for financial aid, and the FAFSA must still be completed by returning students each year. The NPC is great, though, because it can give a detailed estimate of a specific aid package (including the breakdown of grants/loans/etc) before a student even applies for admission.</p>
<p>Is it possible for students to acquire more grant/scholarship money once they are at Oberlin through any special programs on campus?</p>