Overwhelmed already - where to start?

Paying for College
1

<p>My son is a junior. I've been reading these forums for weeks now, and while the information is very helpful, it is also overwhelming. We get no help from the high school counselor, which may be typical. I just need some direction so I know where to even start looking. </p>

<p>He was in the gifted program in elementary school so he took all Honors classes in 6th, 7th, 8th, 9th and 10th grade. His current GPA is 4.1 weighted, with two AP classes. I have requested his transcript; I don't know his cumulative GPA but he did slack off in his math classes in 9th and 10th grade, so his GPA was lower those years but never lower than 3.2 weighted. He'll take two AP classes next year and concurrent enrollment classes for college credit. He did band two years but dropped that this year to get a part-time job. He's done Peer Ministry through church and Boy Scouts for a few years, but he is low on ECs. He applied for the Oklahoma Art Institute Summer Program in creative writing and will find out if he got in by mid-April. His composite ACT was 26 the first time he took it (besides when he took it for Duke TIP in 7th grade) with no preparation, so I know he can bring that up. </p>

<p>I did the FAFSA4caster and it said our EFC was 5495; the only aid he would get was the $5,500 Stafford loan. That didn't sound bad until I looked at the COA for local schools like the University of Oklahoma :(. </p>

<p>Is there any other aid, like scholarships, that he might qualify for with his stats and/or our EFC? What can he do to improve his scholarship chances besides bring up that ACT score? He doesn't know where he wants to go to school or what he wants to major in; he's considering law school but is not definite. His skills are creative writing, debate and art. </p>

<p>Are there schools that would give more aid to a student with his stats? Honestly, after doing the FAFSA4caster I'm just depressed about the whole situation and need some direction. He's going to start visiting schools next month but I don't want to be overly optimistic about anything until I figure out how we can pay for college. </p>

<p>We have another son that's a high school freshman, but his grades are much higher and he is very interested in the military and trying for the NROTC scholarship. Both sons have a 529 which will have about $11,000 in it (per kid). I did include that on the FAFSA4caster. I guess I should ask if we can use younger son's 529 money to cover older son's tuition costs, since it is much more likely that younger son will get scholarships? </p>

<p>I appreciate any advice and help figuring out what options he has - thank you!</p>

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<p>First of all, I would strongly suggest you use the Net Price Calculators on EACH website for colleges of interest to your son. They will be much more specific about aid estimates at each school than the fafsaforecaster. </p>

<p>You already know that your son needs to retake the ACT. Did he happen to take the PSAT at the beginning of his junior year? I would also suggest he take the SAT. Some kids find one test better for them than the other. </p>

<p>Re: aid…need based aid is based on your need. But merit aid is based on your sons GPA and ACT or SAT scores. The higher both are the more merit aid options available. </p>

<p>For merit aid, you want to look at schools where your sons stats are at the tippy top of the applicant pool. You also want to look for guarantees awards.</p>

<p>Perhaps if you provide a geographic location, and academic area of interest, folks could give you some suggestions!</p>

3

<p>Scholarships for ALL four years are usually given by colleges. Not all schools award them. There are threads here that have lists.</p>

<p>He needs to get his ACT up (also take the SAT).</p>

<p>Merit awards work like this…</p>

<p>There is a huge number of kids with high GPAs.</p>

<p>There is a smaller pool of kids with high test scores.</p>

<p>There is an even smaller pool of kids with high test scores AND high GPA. These are the kids that get the larger merit awards from the schools that give them.</p>

<p>Does your child have a non-custodial parent?</p>

4

<p>He doesn’t have a non-custodial parent. We live in Oklahoma. He’s interested in political science, creative writing, possibly pre-law but also possibly art and design. Basically, he doesn’t know and that is also stressing him out. </p>

<p>He took the PSAT, did not make NMF. He was told by his school counselor to just take the ACT, but he can certainly take the SAT. </p>

<p>I will start using the Net Price Calculators so I can get a better idea of where we stand, thank you for that suggestion. It just seems dismal right now! </p>

<p>Thank you both!</p>

<p>Okay, I went to the OSU website and used their net price calculator. Our costs after financial aid would be $16,310. The OU website listed our cost as $14,287. Those are doable only because of the 529 funds; once that is depleted we won’t be able to cover the rest of his education. It just seems like there is such a huge gap between our EFC and what we’d actually have to come up with! I’ll keep doing the net price calculators for the other universities in Oklahoma; maybe it will get better.</p>

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<p>Look at these links for some ideas. Numbers will have changed but you can check their current web sites.</p>

<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1348012-automatic-full-tuition-full-ride-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1348012-automatic-full-tuition-full-ride-scholarships.html&lt;/a&gt;&lt;/p&gt;

<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html&lt;/a&gt;&lt;/p&gt;

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<p>Thank you Erin’s Dad, I will check out those links. </p>

<p>From what mom2collegekids said, (if I understand correctly) we have a very slim chance of getting merit based awards, unless he can bring up that ACT quite a bit or take the SAT and do very well. I’ve been running the net price calculators for Oklahoma colleges, and so far the few private universities I’ve checked will actually end up costing us less out of pocket because they offer more in aid. Even with the higher aid, the cost is still too high. I just don’t know how people do it. </p>

<p>He was going to wait to retake the ACT in June, but I’m going to talk to him about doing some prep work and trying it again in April. Bringing that score up will help, maybe not enough but we have to try. </p>

<p>Thanks again for the advice, I appreciate any help!</p>

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<p>It is a tough go, Sheri, to get the funds for college. Some tips as you are doing your search: 1) Go to the archives and read Momfromtexas theads on full rid scholarships. 2) Look at what options are local to you. 3) Talk to his GC about what some schools are in the area or that s/he knows that have been generous to students at his school with similar stats.</p>

<p>My son did not do well on his tests, so it was a bit of a surprise to find that a local Catholic school was willing to give him a full tuition award. </p>

<p>Your son should be working summers and maybe during the school year too, to help pay for college. It’s a lot to be doing, but hey, kids are doing that. Mine did as did some of my cousin’s kids. When you fill out the FAFSA for real be aware that the asset amounts are as what is in accounts on the day you fill it out, so make sure you don’t do so on pay day. Also, open up an account with your son with you name and SSN primary on it and have him reimburse you for expenses in there, like everything he can, because money in his name (529 excepted) are hit up on the EFC 20 cents to the dollar. </p>

<p>Look at some community colleges and non main state schools, which will cost less than the flag ships.</p>

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<p>Thank you cptofthehouse. I actually found that an instate Catholic university will give him the best deal according to the net price calculator. It’s still not enough but if he can bring up that ACT and/or do well on the SAT, it will get us close to where we need to be. It isn’t even on the list of schools he wanted to look at or consider, but after running all these net price calculators I need to have a talk with him about the reality of his situation. </p>

<p>We won’t qualify for a Parent PLUS loan, at least not his first year, and if I’m reading correctly that should qualify him for additional Direct loans in his name? That is not ideal but if we can get the numbers right we can do that. I was surprised to find that the one university in Oklahoma that was on the list to meet all need met that need by figuring $24000 in Parent PLUS loans! </p>

<p>We anticipate my income will increase substantially by the time he’s actually in school. I know that will increase our EFC, but we’re fine with using all my income to pay for his school if necessary. We just aren’t willing to count on that money until I actually have a job, so we need to get him into a school we can afford without it. </p>

<p>I’ve read through the momoftexas threads - extremely helpful and encouraging. I’ll honestly say that we’re not set on a certain “tier” school; of course we want him to get a good education. He came to me earlier this year and said he was kicking himself for slacking off on his math grades the past few years, and he now realizes that hurt his chances for going to a top tier school or even going out of state. This was a talk I had with him numerous times when he wasn’t taking school or math seriously, so this has been a hard but important lesson. He also has expressed interest in law school or possibly a doctorate so he can teach at the university level, so it wouldn’t make sense to rack up huge debt for his undergraduate degree. </p>

<p>I just didn’t know how hard it would be to find even just a few schools that we can realistically afford! Thanks for all the help, and if anyone has any other ideas please let me know.</p>

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<p>I want to add a bit of info so that when you are listing your DS’s situation, you can stream line a bit more.</p>

<p>Most of the time, only the gpa/class rank info from 9th grade on is of any concern. Even if there are classes taken in 8th grade or earlier or SAT tests taken for some reason or other, they are not included for consideration at colleges. An exception might be a high school level class, but even those are not given much or any weight. It’s a big 'what have you been doing lately?" situation. Grades sophomore junior and senior year as well as courses then taken are scrutinized more than those freshman year.<br>
So forget the gifted programs in middle school and other such things especially if he has not taken off from that point and improved even more.</p>

<p>Usually the test scores are what drives merit awards and financial aid. But the grades have to be up there too. That is most often the combo to get money from schools. The other stuff comes down to details unless at a national level or something a school has on its wish list. They do want to see ECs, but there is a huge difference between playing soccer on an outside league for fun, which is a commendable activity and shows a good balance and being a recruited athlete in the sport. </p>

<p>Finding the affordable schools, usually means looking at what 's available within a commuting distance. Living at home can be a $5-15K benefit. You do have to work out the transportation issues which is the big sticking point for many, if another car is needed. But I have a cousin, whose mother dropped him off each day he had school at Big State U and he would find a ride home or close to it for that first year until he could get some transportation set up. It wasn’t ideal, but it made the school an affordable option. They felt that he was lucky to be accepted to a program there and that was the only way to make it work.</p>

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<p>Long before gas prices were nearing $4/gallon… when I started school in Stillwater (which was a very last minute decision - I missed first 2 days of classes, it was that last minute), I had no housing, etc… so I drove from Enid every day to attend classes in Stillwater. Is it ideal, oh heck no, but it is an option in order to keep the housing costs down, which is why the COA is so high for an instate school. He could possibly schedule his classes for only 2 days a week to make this doable. He/you definitely wouldn’t spend as much in gas/wear and tear as what on campus housing would cost (depending of course on where you live). University of Tulsa might be an option for your son too, even though they are private, as I believe they have some good scholarships available.</p>

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<p>With multiple sittings, looks for places that might superscore the ACT. Most don’t, but a few will. This may give him the “bump” he needs to qualify for some bigger merit aid. You may have to call and ask to get this information.</p>

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<p>Cpt…what scores did your son have to get that award? And did the fact that your son attended a Catholic high school play into anything? (I know that many Jesuit colleges give scholarships to students who went to Jesuit high schools).</p>

<p>*From what mom2collegekids said, (if I understand correctly) we have a very slim chance of getting merit based awards, unless he can bring up that ACT quite a bit or take the SAT and do very well. *</p>

<p>You need high scores to get good-sized merit at the level of schools that you’re looking at. You might get a small award, but not enough to make a real difference.</p>

<p>If you want to go “down the rankings ladder”, you may find some schools that will give more money for good-but-not-high stats. However, you have to look at the big picture. A private school that costs $50k per year that is willing to give your child a $10k per year merit scholarship could still expect you to pay a lot.</p>

<p>You want to look at what the “upper quartile” SAT/ACT scores are for the merit-giving schools.</p>

<p>For instance, at U of Ok, the upper quartile has an ACT 30+. </p>

<p>The best merit is usually given to students whose test scores are within the top 5-10%. Those in the upper quartile may all be given “some” merit, but many of the awards may be too small.</p>

<p>From what I understand, U of Ok is very generous to NMFs, but not that great with other students. </p>

<p>You may need to look at other schools. Look for ASSURED merit awards. Look at Bob Wallace’s list in Erin’s Dad post #5. That will give you an idea of what stats are needed for merit-giving schools. </p>

<p>*****EDIT…go to this page and look at post #234
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1348012-automatic-full-tuition-full-ride-scholarships-12.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1348012-automatic-full-tuition-full-ride-scholarships-12.html&lt;/a&gt;&lt;/p&gt;

<p>(don’t want you to waste time with the whole thread.)</p>

<p>If he gets an ACT 28, then he should look at UAB. If he gets higher than that, there are other schools.
University of Alabama-Birmingham
Award: $15,000/year (Full tuition for up to 25 credits per year)
Residual COA: Depends on number of hours taken
Requirements: 3.0 GPA, 28 ACT
<a href=“Error 404 | Not Found”>Error 404 | Not Found;

<p>Oklahoma City University
Award: Full Tuition
Residual COA: $11,080/year
Requirements: 3.6 GPA, 33 ACT or 1470 SAT (CR+M)
Oklahoma City University : Financial Aid</p>

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<p>Truman State doesn’t have assured merit, but some families have reported good merit awards. I’m not sure what stats are needed. </p>

<p>An ACT 30+ is the upper quartile for Truman.</p>

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<p>The FAFSA does not give you an indicator of how much financial aid you can expect from any given school. It only gives you the federal assistance that he can get - grants and loans from the government. So the “only aid he can get” through the FAFSA is the Stafford loans. The only other aid that FAFSA can indicate is Pell Grants/loans.</p>

<p>Each school determines its own financial aid, based on the income/assests that are presented on the FAFSA form. So don’t get totally discouraged. Check schools that may be of interest to him, and see what aid is available at each school.</p>

<p>My daughter graduated in the top 3% of her high school class, and attended a school that does not rank well in national rankings. But she absolutely loved her college years, had multiple trips and service projects, and is already guaranteed a job as soon as she gets her grad degree in August. Less expensive does not mean your son is doomed for life!</p>

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<p>I think they do:</p>

<p>[Truman</a> Scholarships - Office of Admission - Truman State University](<a href=“Admission | Truman State University”>Admission | Truman State University)</p>

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<p>Data you can find for schools would include

  • % of students that are awarded non-need based aid
  • average non-need based aid awarded</p>

<p>That can give you an idea of how likely it is that a school provides merit funds . . . what you are looking are schioosl where 1) your child is a good match; 2) they want him AND 3) they tend to give a lot of merit aid </p>

<p>Examples (sorry these aren’t the schools that you are looking at, but they make the point):
Dickinson awards 9% of non-need based students an average of $10k
Oberlin awards 17% of non-need based students an average of $11k
Muhlenberg awards 30% of non-need based students an average of $11k</p>

<p>It’s just like clothes: never pay full price :-)</p>

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<p>Thanks for all the help! I had to take a break from this today because it was too depressing, but I’ll get back at it tomorrow. </p>

<p>I did look at the thread for automatic full tuition/full ride scholarships and had noted UAB and Oklahoma City University. I actually played with the net price calculators to see what the difference would be if he did get a higher ACT score, so I first did it with his correct stats then changed it to a 30 and then a 33 score. For OKC University, even with the 33 ACT and 3.6 GPA, their aid package included $24000 in Parent PLUS loans, which we cannot do. I got all excited when I saw that university on the list (the only Oklahoma school on the list!) but parent loans aren’t an option. </p>

<p>I don’t know what it means to superscore the ACT, but I’ll check on that as well. Thanks again for everything, and I’ll keep searching.</p>

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<p>Ordinary Lives…thanks for the link. :)</p>

<p>Do you add the Truman graphic merit to the OOS merit? Or is it “one or the other”?</p>

<p>It looks like with a better ACT, he might get $8k in merit (if merit is combined). That’s pretty good. I’m guessing that that’s about half of the OOS tuition? </p>

<p>However, I think this student needs a full tuition scholarship so that a student loan, family contribution, and maybe summer earnings can pay for room, board, books, fees, etc.</p>

19

<p>I thought I read they were added together. We’re considering Truman as an academic/financial safety for D’14 because of the automatic aid. Now, I have to get her down there to look at it. </p>

<p>But you’re correct, it still may jot be affordable for OP.</p>

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<p>I ran the net price calculator for Truman using a 30 ACT and it said $11,000 combined scholarship and loan aid:</p>

<p>Automatic Scholarships $5,500<br>
Non-Resident Tuition Scholarship $3,000<br>
President’s Combined Ability $2,500<br>
Federal Pell Grant estimate $0<br>
Federal Direct Loan estimate $5,500<br>
TOTAL Estimated Award $11,000 </p>

<p>Is there an additional merit award that he might get if the ACT score was higher? This is actually better than either OU or OSU, and even though it’s more than we realistically can pay, we might have to find a way to make numbers like these work.</p>