<p>We are Florida residents. We have Florida pre-paid 2+2 (hope to use it at a 4 yr, testing out of some course (AP, etc)). Our quick calculation for the FAFSA is an EFC right at 20K, and that is about what we thought we might possibly be able to contribute. We might be open to some small loans (maybe under 10k a yr). I know that Florida has some good schools, but they aren't what D dreams of. I hear such mixed info about the possibility of financial help from private and out of state schools. Should we really try to steer her dreams toward a Florida school, or is there actual hope for financial help from some of out of states and private schools (the ones who say they are need blind or meet need?)</p>
<p>D won't be applying to college for a couple more years, but we are trying to get a handle on the costs...do some planning, learn the system, &set some goals. She is in the IB program and doing well, and though we obviously don't know what the next couple years will hold, it seems reasonable to expect that she will have a high GPA and test scores.</p>
<p>More important than the cost, per se, is whether you truly can afford your EFC. If you can, you need not rule out Ivies and other peer private schools. The big issue then becomes getting admitted to them. Aside from the Ivies, there are a couple dozen or so other private schools that are full-need, need-blind, and somewhat less selective.</p>
<p>$20K is more than what the University of Florida would cost you. You are unlikely to pay significantly less than your EFC to attend an Ivy, so a Florida state school still would be a relative bargain.</p>
<p>shoboe, Just so I understand correctly: If you daughter attends a private college that doesn’t include merit aid you expect that you will have to shell out $80K over four years. If that’s correct, then the next question yourselves is how will this affect your lifestyle? </p>
<p>As for loans, if you’re going to be working long enough and you can make payments without decimating your retirement fund, then finee. Only you can determine your comfort level with any amount of debt.</p>
<p>Whether a school is need blind or meets full need is not the issue. If a school only offers NEED based aid, then your EFC is going to be more or less the same everywhere. The way to get more is to find schools that offer MERIT aid, and these are for the most part a different group.</p>
<p>The good news is that there are many very good to excellent colleges and universities that give merit aid to top students. They are not ivies and they are not the most selective or, to some, the most prestigous. They do, however, offer excellent an education and excellent career and graduate school opportunities. For starters look at Grinnell, Rhodes, Smith. There are several others of that caliber.</p>
<p>Good input. thank you.,this is helping me to narrow down what it is a I need to think about. I guess what I really need to know is…Is there really a decent chance that an ivy, or other private school or out of state school will offer enough merit or need based aid to bring it the cost down to our EFC or is that just unrealistic? Of course, paying less than 20K a year would be preferable, but that is an amount we might be able to consider.</p>
<p>Yes, there are a number of Ivy level schools that have excellent financial aid policies. However they do not offer merit aid. We are an upper middle class family and my daughter was accepted last year to Yale and Stanford. They both offered very good financial aid packages. Go to their websites and run your data through their financial aid calculator. This will give you the best idea of what type of aid you would receive. You might be pleasantly surprised! However getting INTO these schools might be more challenging than actualy paying for them.</p>
<p>Thank you Midwestpop,
The getting in, if she really wants that…is all up to her, but the money…guess that’s pretty much up to us. 
I have read stories, and can imagine a scenario, where a student gets that acceptance, but then has to turn it down because of finances. I just don’t want to set her up for that. I know that even if it is possible to get the aid, that doesn’t mean she will get it. I just would like to feel sure there is a reasonable chance (odds greater than winning the lottery lol) of that sort of financial help before she gets her hopes too high. Thank you for the advice on the website calculations. I didn’t realize that might be available for individual schools!</p>
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<p>Ivies and most of the top ranked selective privates do not offer merit, period. Need based financial aid is somewhat negotiable and somewhat variable, but you won’t see a huge swing. If your income and assets are fairly straighforward your EFC will be fairly consistent at schools that claim to match demonstrated need. At those that “gap” (do not match demonstrated need) the amount of need based aid offered may be less.</p>
<p>If you want to make a dent in that $20K you need to look at schools that offer merit. These are mostly a different group from the need-only schools. Don’t underestimate them, though. There are some excellent merit schools; they’re just not necessarily the best known names.</p>
<p>Use the calculators on the web sites of the schools that interest you. The ivies and other top privates use Profile too, which often yields a very different estimated contribution than FAFSA. Especially for small business owners and those with lots of home equity.</p>
<p>Try the net price calculators at the various school web sites to get an idea of what they may give you for financial aid.</p>
<p>Some of the Ivy League and other super-selective schools have generous financial aid policies, but the hard part is getting in. But not all private schools are generous; New York University is infamous for its poor financial aid. Each school is different, so you need to evaluate differently.</p>
<p>For out of state public schools, most do not give much financial aid to out of state students (perhaps as much as they do to in state students at best, but that would still leave you to pay the full out of state surcharge). Virginia and North Carolina may be exceptions. A few, such as Alabama campuses in Tuscaloosa, Birmingham, and Huntsville, offer big merit scholarships based on GPA and test scores to attract top students. Some out of state public schools are have relatively low list prices, such as Minnesota - Morris, Truman State, and schools in the Dakotas.</p>
<p>What you probably want to discuss with your daughter is what your contribution limit is, so that she can tune her application list with that in mind. Also, make sure that she knows that large amounts of student loans would be a lot of trouble at graduation. The subsidized Stafford loan limit (currently $23,000 for four years) is sometimes recommended as a conservative limit on student loans; some others suggest that one can go up to the entry level pay per year of a new graduate in the student’s major. She can still apply to some financial reaches (e.g. needs admission and an uncertain big merit scholarship to attend), but she needs to have safeties which are safe financially.</p>
<p>As you can probably see from other threads this time of year, there are some students and parents who are now very disappointed because the student’s only acceptances are to schools which are unaffordable. Careful consideration of finances in making the application list so that it includes some solid safeties (assured admission, certain affordability, and (very importantly) being a school that the student wants to attend) will avoid this problem.</p>
<p>As previous poster said, Ivies do not offer merit scholarships.</p>
<p>Most or all are ‘need blind’ and there is a good chance that scholarship money will meet EFC.</p>
<p>If you can pay it comfortably, there’s no reason not to. It’s an investment in your children. The problem comes about when you talk about $20,000 per year in <em>debt</em>. There is a very, very big difference between paying $20,000 per year and borrowing $20,000 per year.</p>
<p>And if it would cost you $20,000 to attend an Ivy, you’re probably not going to find a university that’s any cheaper than that unless your daughter can qualify for hefty merit aid.</p>
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<p>Absolutely. Good but not great stats. We have four offers on the table, three being actively considered - two non-Ivy privates and one OOS public. Net costs (including allowances for books, incidentals, and transportation) before any loans are about $23K, $18K, $13K.</p>
<p>Your student should consider any school s/he wants as long as a financial/admissions safety is on the list and it is understood what the financial situation is. You might want to run the numbers through PROFILE calculators and call specific schools prior to applying to find out how your specific situation is viewed by specific financial aid offices. </p>
<p>My sons had no problem just throwing out any schools that came out more expensive than what we told them we would be willing to pay, and after they added what they could afford onto that amount. They did not blink an eye. And I didn’t push the full ride schools even though they would have saved us a ton of money. We put on the table what we could pay, and if they could pick what they want with that money right there. They ended up with some pretty nice deals and school from which to pick even with the limits, and the safeties were right there too.</p>
<p>However, the board is rife with parents and kids alike crying because they can’t afford a “dream” school. Some of us have a lot of trouble letting go, So that is the risk. Yes, I’d be one of them if one of mine proclaimed a school out of range in price to be the thing he absolutely wanted more than anything else in the world. Yes, it would hurt. And I don’t know what I would do. </p>
<p>When you are looking for money, you do have to case a wider net than usual and look for different scenarios since you don’t know where you will get the best “hits”. For each kid, we had some surprises. There are also the disappointments in those surprises. But as long as everyone is understanding that there are some schools on the list that are affordable, and will be sure to take the student, the rest is all gravy and dessert. Enjoy it all.</p>