We have twins ( our only 2) going to college next year and both applied to some of the same schools. One of the schools that they both applied to offered money and stated it was due to the fact that we will have 2 in college at the same time and would only be available as long as 2 kids were both in college. The interesting thing is that this offer was only made on 1 of the 2 acceptances. Would both kids have to attend this school for this offer to be good and/or is it only good for the child that received the offer or can it be transfered to the other child?
I have read that the 2 child in college discount will go by the wayside come 2023. Is this true?
Also, we have been given a generous grant package for our daughter at a school that we are sure will change when our son is done in 2 years. We are asking the FA office for a projection read on the next four years. Also, would prepaying all 4 years at the discounted rate be something the college would entertain? We are prepared to do that if it will keep the freshman cost stable.
Thank you for your very important insight!!
It looks like this change will happen. Weâve had 2 kids in college at the same time and never received FA besides federal loans, next year will be 3 and yet only 2 (out of about 20) offered any (around $9000 for that particular child). At best we will be paying around $100,000 next year.
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I would call the financial aid office to get clarification. Ask them to follow it up in writing.
The change will happen for the 2023-2024 financial aid year. Here is a link to information about the changes that will happen in 2023-2024: NEW FAFSA CHANGES ARE COMING FOR THE SCHOOL YEAR 2023-2024 | Blog | Association of Certified College Funding Specialists. These are Congressionally mandated changes.
You can always call the school and ask any questions you have. You may need to talk to the financial aid director if you want to discuss something like pre-paying. It wouldnât work at a public school, but for a private school, you never know until you ask.
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Did any of it count toward R&B?
The FAFSA EFC (EFC is also getting a new name) will no longer be divided in half when you have two students in college. Whether this will impact your college costs will depend on the aid awarding policies if the colleges.
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The point of the FAFSA is to determine eligibility for federal aid, and the idea of these changes is to further simplify things. Some changes made will hurt some students, like the fact that number in college wonât be a factor. I suspect ⊠but do not know for sure ⊠that some schools may collect additional information in order to award their own aid. But then again, they may not. It will be interesting to see what ends up happening. I honestly donât know.
Thank you! We actually had a very good zoom session with the Fa counselor at Lehigh who walked us through the financial scenario for the next four years. She also confirmed the changes in the fafsa.
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Lehigh uses the CSS Profile to determine the awarding of their institutional need based aid. If that isnât changingâŠthatâs likely a positive for you!
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it was a great conversation. We did a zoom and she walked us through our assets, coming changes and what each scenario would produce over the next four years. Very helpful. Now to decide where to go!
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Hello,
any suggestion on a custodial parent affidavit, where non-custodial parent is not even in the US? Thank you
I suggest contacting the school or schools to ask.
thank you!
Thank you for taking questions! This is about negotiating scholarships (we do not qualify for aid). Any thoughts on whether GW (George Washington University) would be considered sufficiently comparable to NYU for the purpose of negotiating merit with NYU? Worth a shot or not?
Hereâs a weird question- we donât need loans. But it has been suggested we take the subsidized ones as âfree moneyâ. And pay it back completely upon graduation. Thus allowing our 27K or what it is grow for the four yearsâŠ
It never hurts to try. The worst they can do is say no, and the outcome in that case is the same as not trying. If you get a better outcome, though, it will have been worth asking.
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This is actually not a bad idea. Just be sure to repay before the end of the six month grace period.
I appreciate that advice. We are prepared to do just that but wanted to be sure before going ahead. The FA person at Dâs committed school suggested we do it.
Subsidized loans are less than $27,000. For example, freshman year subsidized are $3500 or less.
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