I am a senior that currently has narrowed down my schools to a few choices. These schools have come from trying to find public OOS universities that give out good amounts of guaranteed merit scholarships or close private colleges that give out good aid to make it affordable. (by close I mean I don’t want to be moving to either coast) I have always put small colleges off my list due to the large price tag. But recently I was told about the new deal for Arkansas residents that Hendrix College will meet 100% of need for any Arkansas resident that has at least a 27 ACT and 3.6 GPA. I just barely qualify with a 27 ACT and 3.78 uw gpa. I have always been interested in Hendrix, I think its a great school but the price always seemed to high. So I went onto their NPC and after it said my EFC was about $23,000 which is just barely in my price range. My single mother makes about 90,000 a year and my older brother and I will both be in college next year. We do not own a business or any farms. I heard that might help withe accuracy. So my question is, How accurate do you think this NPC is?? I dont want to seriously be considering Hendrix and get my hopes up after the FAFSA results. Thank you!
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I think its a great school but the price always seemed to high. So I went onto their NPC and after it said my EFC was about $23,000 which is just barely in my price range. My single mother makes about 90,000 a year and my older brother and I will both be in college next year.
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When you ran the NPC, did you put that there will be 2 in college?
how is $23k “barely” your price range? Has your mom said that she’ll pay $23k per year for EACH child? If not, then how is that your price range??
Yes, I did put that 2 people in my household will be in college. My price range is 20,000-25k but preferably under 20,000 so its just barely in. And we aren’t paying that for each college, my brother is going to school for much cheaper due to scholarships.
Have you tried the NPC for University of Nebraska-Lincoln?
No, Im not really looking to go to school that far north.
When will your brother graduate from college?
You need to run the Hendrix NPC with ONE in college to see how much you’ll have to pay then. And leave off your brother as a household member because he’ll be on his own then.
Once your brother graduates, your cost will JUMP.
Is your mom saying that SHE will pay $20k per year? If not how much will SHE be paying?
yes, she will be paying that. But that still goes back to my original question, will that number be accurate? After I do it with him in college and run it again with him out, are these numbers accurate?
If it asks a reasonable number of questions, then it is likely to be fairly close for relatively common financial situations. Be sure to check the one versus two in college scenarios.
Hendrix uses only the FAFSA form and federal methodology, so being in a single parent family is not an issue there.
However, if you look at colleges that use the CSS Profile to apply to financial aid, most of them require information from your father as well as your mother. If you run the net price calculator on those colleges, be sure to include all income and assets from both of your parents to get a reasonable estimate.
Another not-so-big low cost college that is in a nearby state is Truman State in Missouri. Out-of-state list price is almost within your budget, but you would get an automatic-for-stats scholarship at least.
Another not-so-big low cost college that is in a nearby state is Truman State in Missouri. Out-of-state list price ($22,475 (not including travel and misc costs) is almost within your budget, but you would get an automatic-for-stats $2,500 scholarship at least.
http://www.truman.edu/admission-cost/cost-aid/tuition-costs/
http://www.truman.edu/admission-cost/cost-aid/scholarships/automatic-scholarships/
@ucbalumnus Thank you for actually answering my question!
The NPCs can be accurate as long as you’ve put in the correct info, and your mom doesn’t have any special circumstances.
Is your mom self employed or take business deductions?
If your mom contributes to a 401k, but you didn’t include that as income, then that can hurt your EFC.
If you aren’t sure of savings accts or other investments that can hurt as well.
Does your dad pay child support?
Is Hendrix a CSS Profile school?
Is your brother a sophomore in college? If so, then there will be two years when only YOU are in college and your mom’s expected contribution will likely double. Then what will you do???
NPC are usually a year behind in figures for tuition and sometimes for school aid.
Are there possibly also any departmental or other types of scholarships you may be able to find?
As already said, make sure with one in college (you) the NPC is showing Hendrix as affordable after your brother is out of college.
What do you want to study? Maybe others would make suggestions with knowing your major.
Hendrix uses FAFSA only, according to its web site and its collegedata.com entry.