1.4 million in assets is going be be $70,000 added to your EFC. you will most likely be full pay wherever you apply. I would recommend running the net price calculator for your situation.
** moderators note** I am creating a separate thread for this post as not to derail this thread.
@Clueless-in-Indiana It sounds like your in a great place. You have a proper financial mind and your son is thinking clearly by making his top choice a public state school. I wish I was so blessed. Here in the Northeast, the draw of private institutions is very strong and kids think paying more is better. What a dream to have my child want to attend the state university! You are truly blessed by being able to simply avoid the whole problem of trying to send your child to a very expensive private school. Although you have little college savings, it does sound like your income is increasing at a rate that would allow you to divert some towards college. At your income level, sending all your kids to state schools is definitely possible, You are in a good place. Best of luck to you and your family.
@sybbie719
I don’t know what the deadline is for submitting a direct admit petition to UI Kelley. The OP would need to contact IU for this information. In theory, however, your idea of the OP’s son retaking the test is sound.
@Clueless-in-Indiana In your first post in this thread you asked about a book you could read to educate yourself about the financial issues in college admissions. I suggest you read the excellent book “The College Solution” by Lynn O’Shaughnessy. We used the advice given in The College Solution for our two children and both will graduate with no loans. The author also has a wonderful website by the same name and posts very helpful information under the tab “blog”. Plus on the book’s facebook page you can ask the author questions. Lynn speaks at conferences around the country and I have heard her speak twice and always learn something. new. Educating yourself about the financial picture involved in college admissions is very important especially since you will have three other children after your son. We used the author’s advice to maximize merit awards for our oldest child who ended up with a full merit-ride from Ohio State.
Lynn told me about edvisors.com and I find their information also helpful. They can give you tips about filing out your FASFA and other financial aid forms.
Someone mentioned it and I can’t stress it enough- the money for transfer students is not close to that offered to freshmen so do not necessarily think that you son will get the same amount from the other college. Sometimes transferring colleges gets to be very expensive. Also look at the gpa requirement to keep merit scholarships. I have known students who were academically successful in high school have trouble in college hitting the mark for the necessary gpa for keeping merit money. I usually watch out for any merit scholarship requiring a gpa greater than 3.2.
I thought I saw this in the thread, but now can’t find it. Be very careful when taking courses at a different IU campus. Be sure they will transfer back to the home IU campus. I’m still sort of incredulous the same course taken at one IU campus won’t transfer to some other IU campuses. If the goal is to attend IUPUI, then transfer to IUB, be certain all will transfer.
I don’t think IUPUI is a bad choice if Kelley doesn’t work out, financially or otherwise. I took Finite and calc at IU and didn’t think it was that bad, and I had only alg, alg II, and geometry in high school.