<p>Are net price calculators accurate? How is this possible?!
I have no income, no assets, etc.
My parents own a business, but since it is an LLC, it is not considered an asset and they have no other property.
Plus, they already have one child in college, so with me, it will be two.
Oh, and the FAFSA calculator said I'll only receive $12,000.
I'm freaking out!</p>
<p>You posted your family’s adjusted income. What is the income BEFORE adjustments since you mentioned they own a business?</p>
<p>Most colleges have a cost that doesn’t take into account what you can pay. The price is the price. So you don’t apply to those colleges. You look for cheaper ones or ones that ‘meet need’ or you start at community college.</p>
<p>Number of children in college is part of the calculation so that is considered. If you family has a business, then the calculator can’t be relied on, but still might give you some ballpark. </p>
<p>Most students pay for college by a combination of 1. college savings 2. current family income and student summer and school earnings 3. loans</p>
<p>Every college does its own FA calculation based on how much it can afford to grant. Just because that college expects you to cough up $34k doesn’t mean other colleges will too. Look at other schools.</p>
<p>The FAFSA calculator says you will only receive $12,000…the ON!Y guaranteed awards you get are the full Pell Grant of $5600 and a Direct Loan of $5500 as a freshman.</p>
<p>What colleges were you looking at?</p>
<p>Also, the net price calculators are NOT accurate if your family owns a business and/or if they are self employed. Businesses are allowed to deduct certain expenses per IRS that are added back in as income for financial aid purposes. PLUS for schools using the Profile, you are required to list the value of your business. It counts.</p>
<p>What college costs that? I thought you were looking at UW living at home.</p>
<p>So, you will get 12,000 in Federal grants and loans it seems. The difference between that and the COA of the school is your official ‘need’. </p>
<p>a. Understand that most colleges do not meet need. They don’t have money to give you. The difference is called the gap. That sounds like what you might be looking at.</p>
<p>b. Limited colleges meet full need - only around 60 out of 3,500.</p>
<p>c. Others will meet need just for students they want the most. You have to apply to see. When you apply you might get some grants or scholarships from the college. Maybe not.</p>
<p>d. Some colleges give merit aid automatically. So they will guarantee you funds based on merit, not need. I think you were given this list before.
<a href=“http://automaticfulltuition.yolasite.com/”>http://automaticfulltuition.yolasite.com/</a></p>
<p><<<
New Discussion
My family’s adjusted income in $19,000 and I’m expected to pay $34,000 each year?
<<<<<</p>
<p>with two in college and a family contribution that high, either the school doesnt promise to meet need or the family has a ton of deductions and a CSS profile school has added them back in.</p>
<p>Since you are looking at NPCs and getting those results, what kind of school is this? an OOS public? a private that doesnt give great aid?</p>
<p>If it is an OOS public, why are you expecting the school to give you aid to cover their high OOS rates? why do you think they charge those rates? your family doesnt pay taxes there. why charge high OOS if they are going to have to dig deep into their tiny funds and cover those OOS rates/</p>
<p>if it is a private that doesnt meet need, then it is a school that doesnt have much money to give away.</p>
<p>but even if it is a private that gives great aid, it doesnt just use FAFSA and will likely add back in some business deductions.</p>
<p>what are your stats? major? home state?</p>
<p>Once more…the Net Price Calculator is NOT going to be accurate for this student because of the family owned business.</p>
<p>If it is a fafsa-only school, the NPC could be right.</p>
<p>If it is a css profile school, then the results wont likely be accurate…and may be a LOT worse.</p>
<br>
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<p>I have always abided by their rules reassuring myself that it was just until I got to college, then I could start living my life but there is a problem… they have decided I am not allowed to move away from home. I pointed out that the college I want to go to is 40 minutes away (but it’s in Seattle so the traffic regularly takes over an hour in reality) and I simply cannot live with their rules for 4 years, with the stress of traffic, with the stress of a noisy study environment (home), with the stress of college. When I pointed this out they said “there are thousands of kids who live at home and do it, we know plenty, you’ll be fine,” but I just can’t.
<<<<</p>
<p>did something change?</p>
<p>is the school Uportland?</p>
<p>Even FAFSA only schools can do whatever they please with regards to institutional funds. When they receive the IRS transcript, it will be easy to see what the family has done in terms of deductions and the like. FAFSA on,y schools use this information when awarding institutional funds. </p>
<p>Even for FAFSA only, the NPC will not be accurate for INSTITUTIONAL aid. </p>
<p>ETA…if this student is being expected to pay $34,000 per year plus will get $12000 in federal aid…this school costs $46,000. I doubt this is an instate public university where she is commuting.</p>
<p>This amount would not be out of line at all for ANYONE using NPCs on a FAFSA only school. There are no colleges that guarantee to meet full need as defined by the FAFSA EFC (barring, say the military academies, and other possible special situation schools). Even with a zero EFC, the only thing guaranteed, as others have mentioned here are the Direct loans ($5500 freshman year) and the maximum Pell, if eligible, which would bring things up to about the $12K level </p>
<p>In the state of NY, we also have TAP for instate school and instate residents, which could bring the maximum guaranteed amount up, to close to $18K, but an out of stater, for example, even with a zero EFC would not get the TAP and our colleges here tend to do well in meeting full FAFSA defined need up to tuition and fees but not for room, board, discretionary expenses. </p>
<p>It comes down to a question of whether colleges, particularly public ones using state and federal funds should be covering what comes down to being living expenses for students It’s one thing to make sure those students at the lowest income levels do not have the tuition obstacle, but should the tax payers be paying for sleep away college too? NY tends to have colleges spread throughout the state so that most students do have a local option available to get a college degree. For those who show academic promise via test scores and grades, merit money is available for programs that may not available locally, and require going away to school. Such students also often have private options as well</p>
<p>So, yes if an out of stater wanted to go to a school like, say UMich, the cost could well be over $34K even with a Zero EFC. </p>
<p>“is the school Uportland?”</p>
<p>Portland isn’t in Seattle, it’s in Portland!</p>
<p>And UMich uses the Profile, as do UVA and UNC-CH. </p>
<p>But the rest of the public universities use FAFSA only.</p>
<p>I would suggest this OP look at instate public universities, and perhaps ones within a commuting distance. Her $12,000 in federal aid will go further in supporting her total costs in that situation.</p>
<p>@cptofthehouse:</p>
<p>Hmm. The UCs in CA meet full tuition with grants if you are in-state and below a certain income. True, not full COA (though loans and work-study can get you close).</p>
<p>what school is this? I wasnt asking if it is UPortland based on the Seattle mention, I was asking based on a past thread. </p>
<p>@BrownParent </p>
<p>“What college costs that? I thought you were looking at UW living at home.”
UPortland, the total COA is $50,000 but they have a reputation for giving great aid. I know my aid will be very different than other people, but the two students from my school that will be attending there this fall costs are lower than a public university (I don’t remember the exact costs), and since they took no honors or AP classes and one of them had a 3.2 GPA, I assumed my cost would be lower.
I decided I would rather work through college and take on more debt than live at home.</p>
<p>“Others will meet need just for students they want the most. You have to apply to see. When you apply you might get some grants or scholarships from the college. Maybe not.”
I’m applying to schools whose averages are lower than mine to receive more aid, UP is just my dream school.</p>
<p>"Some colleges give merit aid automatically. So they will guarantee you funds based on merit, not need. I think you were given this list before.
<a href="http://automaticfulltuition.yolasite.com/“>http://automaticfulltuition.yolasite.com/</a>”
I was, but I don’t want to be that far from WA and so I’m just realistically looking at lower tier schools (in hopes of good merit money), but I’m hoping UP will give me better money than the calculator suggested and applying for a ton of scholarships.</p>
<p>So will your parents let you go to UPortland? if so, why?</p>
<p>@mom2collegekids </p>
<p>“with two in college and a family contribution that high, either the school doesnt promise to meet need or the family has a ton of deductions and a CSS profile school has added them back in.”
My EFC was 0.</p>
<p>“Since you are looking at NPCs and getting those results, what kind of school is this? an OOS public? a private that doesnt give great aid?”
Private that has a reputation of giving great aid.</p>
<p>I know my aid will be very different than my sister’s (in-state public, COA $30,000, worse scores than mine), but my parents have paid a max of $1,000 per semester because of need-based money. I know I won’t be getting the same deal, I just expected to get a bit more help. </p>
<p>what are your stats? major? home state?
GPA UW: 3.4
I don’t know my W GPA but I’ve taken 5 AP classes (all that’s offered except for 3) and 2 honors (all that’s offered).
ACT: 25 without studying but I’m taking it again and expect to get 27-28 since I’ve been studying.
Marketing
Washington</p>
<p>@mom2collegekids </p>
<p>No, nothing changed. I just decided I would rather work through college and take on more debt than live at home. I know I realistically won’t be able to pay for UP, so I’m applying to lower stats colleges so I can get more merit money, UP is just my dream school so I’m hoping I’ll get better aid.</p>