Merit Scholarships without FAFSA?

Paying for College
21

<p>^^^</p>

<p>Hi,</p>

<p>Congrats on your son making NMSF. :)</p>

<p>prestigious schools generally don’t need to give “merit scholarships” because all of their students have super stats. A few prestigious schools may give a small number of awards, but those would be given to a few kids WITHIN the huge pool of “super kids”. Those few kids have something the school wants…minority diversity or regional diversity or some other super hook.</p>

<p>Frankly, prestigious schools will not look at a 2240 SAT as being merit-worthy since that is a “middle of the road” score for them. Yes, it’s a very good score, but it’s not in the “upper quartile” for their schools. Presigious schools that award a few merit scholarships are likely going to award them to the 2300+ kids with some national big award, URMs, or other super-hook students.</p>

<p>Unless your son has some “hook” that you haven’t mentioned, a top school isn’t going to consider him as a “have to have”. He will not likely get some special consideration for an FA pkg.</p>

<p>I think your son is being overly-optimistic considering his stats aren’t top for these schools. And, the “special consideration” for an FA pkg that your son is talking about, would NOT mean going from only paying 55k per year, to now only having to pay $20-25k per year. </p>

<p>It’s ok to apply to a few of these top schools “just to see,” but you have to INSIST to your son that he HAS to apply to at least 2 schools that will give him LARGE ASSURED merit scholarships for his stats since you have a VERY unaffordable EFC. </p>

<p>He can also apply to a couple schools with competitive merit, but he MUST apply to a couple of schools that give ASSURED HUGE merit for stats.</p>

<p>Look at it this way…If you’re expected to be a “full pay,” but you can only pay $20k per year, then your son needs ALMOST a full tuition scholarship. That way your $20k can cover room, board, fees, books, personal expenses, and travel…and maybe a few thousand towards tuition.</p>

22

<p>some of the net price calculators I tried are forgiving up to about $100K total income (meaning good chunk of tuition, room and board awarded in grants). After this limit the NPC system mercilessly fleeces you. E.g. if I increase the income to $150K, the EFC difference comes to almost as large as net after tax income of the extra $50K. They expect that all income above certain limit is disposable and hence available towards tuition payment. The net worth differences don’t seem to have the same effect. It is beneficial to make all your money before children start going to colleges and then be jobless for 4 years or have jobs with meager income.</p>

23

<p>Cbourbis, fill out a few NPC for some colleges that might be of interest and see what they come up with for what they feel you should pay. For those schools without much merit money and meet full need, they tend to be pretty accurate if things are straightforward with your financials. Schools do have dfferent ways they calculate need, however, so even full need met schools can vary on what the awards are, as things like medical expenses, home equity etc can vary in how they are treated from school to school. But if you are coming up with an EFC int the $50K range, other than at very few schools, you aren’t going to get much financial aid is my opinion. Some merit money might be in the picture with those stats at schools that give it and if he is in the upper percentage that gets it. </p>

<p>Look at some schools that offer free tution for NMF. Northeastern is one of them, for example.</p>

24

<p>OP, and others,</p>

<p>Many schools give merit w/o FAFSA, but if you apply mostly to schools that give no merit, then w/o FAFSA and the PROFILE, you won’t get any aid at all.</p>

<p>I advise all to fill out FAFSA the first year. Many schools will not give FA in subsequent years if no FA forms were filed when a FY student. You never know when your financial situation might change.</p>