Would like advice, keeping in mind that every student has different preferences! DS was deferred ED from Carleton and admitted RD -hurray! Also got into Oberlin and a couple of other good schools when he had to apply RD. But, we just found out today, Oberlin offered him $15k per year merit aid. He has not visited Oberlin but has spent time at Carleton and knows he loves it. Carleton is more highly rated, but tough to turn down $60k from another very good LAC which likely offers many of the same characteristics he wants (Midwest traditional liberal arts college for humanities major.) Plan is that he should now visit Oberlin just to check it out. I understand that Carleton does not offer merit aid of (which I tend to approve.) We did not apply for financial aid since we do have a 529 plan that will cover about half the cost of his college and in our experience no scholarship grants are awarded until that money is gone. Does anyone know if there is any wiggle room in getting Carleton to perhaps match a portion of Oberlin’s offer? Is there any harm in asking and any advice on the best approach? And beyond the USNWR ratings etc, how different is Oberlin (academic rigor, friendliness, etc) from Carleton? My uninformed impression is that Oberlin students are crunchier and quirkier, maybe more into sex and drugs versus studies? Thanks for anyone with current info.
Did you run a net price calc for Carleton? That way you would know about the following 3 years, if not this next one, If I were you I would also play around a bit with figures for the 529 plan, e.g., in case you spend a lot of it the first year? Other will have better advice on this. It is certainly worth a phone call on Monday to find out if they would consider allowing you to apply for fin aid for next year or whether it is out of the question.
Please do keep us informed! I agree, it would be very difficult to turn down Oberlin’s offer. Interestingly enough Carleton and Oberlin are two top LACs for college chess.
I’d bet my house you won’t have luck getting any money from Carleton at this point.
I much prefer Carleton but that is my personal opinion. Your son should definitely visit Oberlin in person to se how he feels about it. It’s hard to make the decision without that visit. It’s also hard to advise without knowing the details of one’s family finances and how much that $60k will mean to the family. One of my kids walked away from even more merit money to attend a preferred school but we had the money set aside and told our child to make the choice that fit best.
First off, congratulations on your son’s acceptances to both Carleton and Oberlin.
Also, you are INCORRECT in viewing your Section 529 plan savings, worth about half (+/- $120.000/$130,00) of his future college costs, as precluding you from qualifying for financial aid. Your savings in that plan count as “parental assets,” of which colleges expect parents to disperse/spend the equivalent of only 5.64 % of that each amount each year toward college costs. Thus, a $120,000 Section 529 balance will increase your annual Family Expected Contribution (FEC) by only $6,768.
We, also, have substantial 529s for our two remaining college-aged kids, have a relatively high family income and yet qualified for need-based financial aid from Carleton. Families almost always should apply for FA – worst-case scenario is that doing so simply qualifies your child for an on-campus work-study job. I urge you to ask – NOW – whether Carleton would consider you for FA it you were to fill out and submit both the FAFSA and the CSS Profile. If not lucky to get a “yes” answer at this point, you certainly can file for FA for next (sophomore) year, as every family files annually anyway for need-based aid.
Our daughter will be a Carleton freshman this fall, having turned down a $24,000 annual ($96,000 total) merit scholarship elsewhere, because Carleton is “good fit.” We support her choice, despite the additional costs for us. We agree she would be happier at Carleton – it’s truly a special place. I am not able to pass judgment on Oberlin.
If you have FAFSA/CSS Profile questions, I’ll attempt to answer them for you.
Thanks for the input! I’ve been through this before since DS’ older sister just graduated college, a LAC charging full freight. Her 529 plan also covered about 3 years, leaving the 4th year out of pocket. I applied for FA for 3 years after first year. My estimated family contribution worked out to about 100% of my AGI and over 10% of total assets (meaning a 50-something should spend 80% of her assets educating two children?) So, silly me, for scrimping and saving. We were only offered outrageous unsubsidized loans until her final year when the 529 was gone, never any grants or work study, but she hustled and found work on campus anyway. We also turned down $9k a year merit aid from one of her colleges since she really strongly preferred the one she attended and there was a big difference in academic rigor and reputation. But I don’t see as big a difference between DS’s two schools (plus the state flagship university at about half the price of either LAC) Final problem is the $60k (or $30k each) doesn’t mean much to my wealthy ex, not that he will pay a penny more than half, but it means a lot to me. Don’t like to be the bad guy but…that’s why I’d like to understand more about whether Oberlin can offer my son a comparable college experience. Kids just don’t understand the difference in costs since it’s all so far beyond their resources.
@momcino, terms of divorce decree dictate that funds from 529 get spent first, so it will be spent down, not apportioned.
It’s not the 529 blowing your chances for aid; it’s a wealthy NCP unwilling to pay.
I’m in a very similar situation. Oberlin has awarded me a yearly $20,000, where I’ve received absolutely nothing from Carleton. I have yet to go visit the latter. I’ve spent two nights at Oberlin though, and I can confirm that some of your concerns––the drugs, etc.––are valid. There is a lot of weed on Oberlin’s campus (only to be expected I suppose). But from what I observed, there is very little peer pressure. And if (like me) drugs aren’t your thing, there is definitely still a place for you at Oberlin. Some students do get into drugs and/or slack off, but there are many many super bright, successful, interesting people I met during my stay. I found it to be a really open, eclectic, genuine, and accepting community. Maybe not quite as universally “nice” as Carleton, but definitely worth serious consideration. I’m looking forward to visiting Carleton so I can compare… a big factor for me is the distance (I’m from NY.) Flight tickets to Minnesota are expensive 
Let me know when you make your decision! Both seem like wonderful choices to me.
Thanks @AbananaA, was the $20k fin aid or merit? Are you planning to ask Carleton for a revision? Too bad my DS is not as into his music as my DD, it would make Oberlin more attractive to him. Also are you concerned at all about Oberlin’s much lower 4 yr grad rate?
You’re going to find weed at all the liberal LACs. No one will force you to partake, however.
@doschicos, you are correct, but if it is a pervasive part of social life it’s hard to avoid. And no fun being “straight” at parties where others are stoned.
I highly doubt you will get any money from Carleton, which states up front that it doesn’t offer merit aid (other than the $2K associated with NMSF, etc). You could ask whether it’s still possible to file for FA, stating that you didn’t fully understand how the formula works. I bet they’d be willing to let you do that.
If you want, you could say, it it’s true, that Carleton is your ds’s no. 1 choice but that you received a $15k/year merit scholarship from Oberlin and so now you’re wondering whether FA will bring Carleton more in line with Oberlin. Don’t launch into a sob story; it is what it is, and no one has acted in poor faith. I didn’t see the answer to the question … Did you run the Net Price Calculator at Carleton, and, if so, is the number way off?
And just for anyone else out there reading, Carleton is CLEAR that there are no merit awards, but let’s say there was. Why would the no. 8-ranked LAC be swayed to offer more money because the no. 23-ranked LAC offered more money? I normally don’t look at rankings, but I did for this example. I suspect that Carleton doesn’t really see Oberlin as a peer institution. If the no. 8 college were going to be swayed, it would be swayed by the no. 2 or 3 college’s offer, because no. 8 wants to steal one from their “higher” competitors. Does that make sense?
I was able to appeal for more FA at ds2’s school (not Carleton) by showing them better offers from two schools – one ranked higher than his and one that his school saw as a peer and had a lot of cross-admits. Just because “some” college offers more doesn’t mean a lot; it has to be the “right” college/colleges. And, bottom line, the college has to be willing to deal. Carleton won’t give “more” merit aid, because it doesn’t give any merit aid (again, other than that $2K).
@Youdontsay, didn’t run net price calculator since didn’t apply for FA, so assuming net price = full price. this isn’t a case of comparing FA offers, its a case of comparing #1 school (and I am aware of rankings) versus a backup offering $15k a year. So, it’s difficult, not a straightforward tradeoff, if it were less money or a bigger difference in schools, it would be no brainer. Son wasn’t NMF, only “commended”, but his scores are at top of Carleton’s regardless, so will try. Carleton usually wins in the win/loss versus Oberlin but perhaps they won’t want to lose DS over a few thousand.
I always think Carleton wins 
but $60K is a lot of money so try the FA route with them and see what they say. Maybe you should go ahead and fill those out this weekend so on Monday you can tell them that you can send them right away if they say yes, we’ll let you file? Good luck!
ETA: You should probably run that NPC right now and see whether it thinks you’ll get any FA.
FAFSA says only we MAY be eligible for $5500 Direct Stafford loan. Is that the subsidized kind? So not expecting much on FA angle but will work on that this weekend.
In the meantime, anyone have good to say about Oberlin over Carleton?? If not a musician or overly “artsy”? It is hard to ignore those relative rankings, even if they are rotten and “gamed” sometimes.
Carleton NPC says no FA as expected. Do you have any money saved? Great, send it in! (Just kidding, we are fortunate to have the funds for private college!!!)
Well, bummer. I’m sorry.
I’m afraid I only have one Oberlin story, and it didn’t turn out well. But I’m not willing to think poorly of the place just because of this one story. Oberlin seems like a great school, and I truly believe that any school is more about the individual kid and whether he/she takes advantage of all the opportunities. I know a Carleton story that didn’t turn out well, too. But you can PM me if you really want to know the Oberlin story. I don’t feel comfortable discussing it publicly.
I will point out, however, that if your ds had gotten in ED, you likely would have been thrilled and none the wiser about money from Oberlin, right? You were prepared at one point to pay full price. Hopefully, after ds checks out Oberlin he’ll fall in love there, and it’ll make the decision easier (hmmmm, or harder).
I know kids who are really happy at Oberlin. My kid who visited didn’t care for it, though. Has your kid visited?
@intparent, no, no Oberlin visit yet, we were waiting to see if and where he got in RD. Not sure if it makes sense for him to visit given how set he is on Carleton. @youdontsay, true, we were prepared to pay full price, at least for as long as 529 lasted, so yeah, it did actually complicate things being offered so much from Oberlin! thanks all for your thoughts.
If you aren’t even willing to take him for a visit, how can you expect him to make an informed decision? You could save $60K if he likes it. Kids don’t usually pick schools they haven’t visited over schools that they have seen, nor should they.