<p>I can't give you a breakdown of the schools but I can give you some advice in evaluating financial aid at different schools. (sorry in advance for the length)</p>
<ol>
<li><p>I think that you should use a financial aid calculator (maybe the one on the college board) to find out what approximately your EFC will be. Run all 3 times using the federal methodology, the institutional methodology and both (you will see how your numbers varies.</p></li>
<li><p>Keep in mind 'good aid" is a relative term. what you may find as good aid may be totally out of the ball park for other families.</p></li>
<li><p>If possilbe, you should check out the common data set (if available) for each school you are interested in </p></li>
</ol>
<p><a href="http://talk.collegeconfidential.com/showthread.php?t=76444%5B/url%5D">http://talk.collegeconfidential.com/showthread.php?t=76444</a></p>
<p>note: BU's CDS is listed as Brown.</p>
<p>Section H of the school's Common Data Set addresses financial aid (especially for incoming freshmen). </p>
<p>The CDS will tell you:
[ul]
[<em>]The school's methodology for determining financial aid (federal, institutional or combination of both)
[</em>]How many students, applied for financial aid
[<em>]# of students in the schools opinion had a financial need
[</em>]# that recieved FA # that received gift aid (scholarships and grants that do not have to be repaid)
[<em>]Average package (up to need)
[</em>]Average need-based gift
[<em>]Average need-based self-help aid (work study & loans)
[</em>]Number of eligible students whose need was fully met
[<em>]Average need-based loan
[</em>] average amount of student debt upon graduation
and what I beleive is most important **Average % of need met for need-based aid recipients **. Not meeting 100% of demonstrated need is considered gapping. When a school "gaps" it is up to you as the family to fill the gap.
[/ul]</p>
<p>Be careful of the word average because a school may state their average aid package as one thing you will most likely get something different (because school don't state the average income/assets, etc. that the package was based on). Remember one family's $6000 grant aid package and another family's 30,000 package still gives an average of $18,000.</p>
<ol>
<li><p>You want to look at how financial aid is handled in subsequent years (sad to say that some schools give you a great package to get you in the door and subsequent years the package is not good). Are scholarships renewable? what happens if you have a change in your financial situation (loss of job) ? These IMHO are important things to know up front.</p></li>
<li><p>Make sure you check the school's FA policy especially as it pertain to these groups: transfer students, international students or a student that did not apply for FA as a freshman. </p></li>
</ol>
<p>[ul]
[<em>]At some schools if you do not apply as a freshman, you are not eligible for FA in subsequent years
[</em>]In the event your schild is considering transferring to a school. Many schools do not offer merit to transfer students, Some schools offer no FA to transfer students.
[li]If you are an international student, (very few schools are need blind to international students so your ability to pay will be a factor.[/li][/ul]</p>
<ol>
<li>If you are looking at a school that offers merit or athletic scholarships make sure that you fully understand the provisions associated to keeping the scholarship.</li>
</ol>
<p>If your child is on an athletic scholarship, gets injured and can no longer play, how does this affect his FA. If your child feels that they no longer want to continue the spot, how will this affect aid.</p>
<p>If you are getting a merit scholarship, what is the GPA needed to keep the scholarship. Some schools gradually let students work their way into it 2.75 first term 3.0 next term etc. Other schools, students are required to maintain 3.5/ 3.6 off the bat. Big difference if you are taking courses in basket weaving vs. taking courses in rocket science. what happens if the GPA drops? Do you lose the scholarship right then and there or is it a probationary period?</p>
<p>7.You want to see how your aid is packaged. Keep in mind that ifyour student gets a stafford loan (subsidized or unsubsidized) that the amount of money they are able to borrow goes up each year so the loan component will most likely increase. $2650 freshman year, 3500, sophmore year, $5,500 junior year until graduation . Their student contribution will also increase over the years because the colleges do beleive that students should be active participants in the financing of their education. </p>
<ol>
<li> Pay attention to what the school is requestion as far as information from both parents (especially non-custodial ex-spouse or never been married to the father/mother). Colleges are of the mindset that the first responsibility lies with both parents. A parent's unwillingness to pay or statements that they are only going to pay "X" amount because that is what the support order states, hold wery little water with the FA office. It is not easy to obtain a non-custodial waiver.</li>
</ol>
<p>Hopefully others will add tips or guides. I hope that this helps</p>