need based aid

Parents Forum
1

<p>Just recieved my daughters last Award package from stevenson universiy and the need based aid they offered is about half of what all the other schools offered,is it possible there was a mistake or is this not uncommon</p>

2

<p>Each institution sets their own financial aid policy. Some schools have a policy to meet need. Some schools have a policy to meet need with loans. Some schools have a policy to meet full need without loans. Some schools do not have a policy to meet need. They will calculate need based on either the Federal Methodology (your EFC from your FAFSA) or they could choose to use their own Institutional Methodology, which uses additional information from the CSS Profile from the College Board or another institution-specific form they use to collect your financial data.</p>

<p>So, in short: yes, your aid could vary widely from one institution to another, in how much aid they determine you ‘need’ and also in how much aid they offer you.</p>

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<p>During the tour all they talked about was how they were the most affordable college on the east coast and there students come out with the least amount of dept</p>

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<p>My D is now a sophomore in college; I was completely clueless about financial aid until pretty late in the process. I truly did not know what to look for and what kind of financial aid policy would be best for her/us. I assumed our local public school would be the least expensive option. It was not.</p>

<p>Not that I’m an expert now, but I sure learned a lot.</p>

<p>I was not familiar with the school you mentioned, but I just went to their website. They say they are the least expensive private school in the state. From their website:</p>

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<p>I did not see anywhere any language that states it will meet a student’s need.</p>

<p>In contrast, here is some language from a different school:</p>

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<p>Schools do report on the average loan debt their graduates have - on the Common Data set, questions H4-H5. I’m not sure if you can find their Common Data Set to verify if this is true? The second school’s policy I posted has on their CDS for 2009-2010 the average per-undergraduate-borrower cumulative principal borrowed as $13,324 (for students graduating during aid year 0809). However, the question specifically excludes Parent Plus loans.</p>

5

<p>Clueless is me! After looking at the package we still need 9,000, how would she go about applying for a student loan if we can ge the parent plus loan? This is very stressful, I feel like im running out of time to figure out what we are doing I cant even think straight. Thanks for your replies college query!</p>

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<p>Is Stevenson a favorite? Is it worth the extra money for you or your daughter? If not, you can just use the cost as a reason to discard one school from the list of considerations.</p>

<p>Parent Plus loans are loans the parent takes out to pay the bills. If the parent doesn’t qualify (bad credit, etc.), then I think the student has a shot at it (I’m not sure). I don’t know how you would go about getting student loans if the parent would qualify for the plus loans - I’m curious about that too.</p>

<p>Good luck.</p>

7

<p>She really wants to go o Stevenson,they have a program were she can earn a bs in chemisry and a masters in forensic science in 5 years,if the parent doesnt qualify for the parent plus the student can apply for an additional 4 or 5 thousand,</p>

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<p>Here is some insight and suggestions:</p>

<p>Stevenson awards their Merit aid on a matrix. They look at each student’s gpa/SAT/leadership and make the award from there. It will not increase or decrease (unless the gpa falls too low).</p>

<p>The freshman year sets the bar for need based aid. After that they can take it away (if your need decreases) but they won’t increase it (much) even if your need increases.</p>

<p>If you have extenuating circumstances there is a form on the financial aid page you can complete:
<a href=“http://www.stevenson.edu/SharedMedia/PDF/financial-aid/11-12specialconditions.pdf[/url]”>http://www.stevenson.edu/SharedMedia/PDF/financial-aid/11-12specialconditions.pdf&lt;/a&gt;&lt;/p&gt;

<p>You don’t say what other schools she received awards from so I can’t speak to that. Each school is different and the awards may vary widely.
5 years is a long time and expensive. If you take a plus loan this year -can you take one for the remaining 4 years, as her program is a 5 year program.</p>

<p>You and she should also know that Stevenson has articulation agreements with some MD Community colleges. Quite a few kids transfer into Stevenson their junior year from their local CC. Might this be an option for your daughter?</p>

<p>Your daughter is eligible for $3500 her freshman year for a Subsidized Stafford loan. She is also eligible for another $2000 unsubsidized loan. If you do not qualify for a PLUS loan she is eligible for another $4000 unsubsidized loan - bringing the total to $9500 in Stafford loans.
Stevenson does not make Perkins loans available.<br>
Financial decisions are tough to make, I wish you the best.</p>

<p>PS have they told you what the tuition will be for next year yet?</p>