<p>How much does it save to have a sibling undergraduate going to school at the same time? My daughter is now going to have a 16,000 dollar cost off of 57,000. When he graduates next year how much is it going to probably cost us? I know there are other complicating factors, but is there a general rule about how much less you end up paying with two in school at the same time?</p>
<p>Please clarify…</p>
<p>right now, do you have 2 in school?</p>
<p>Do they both go to schools that “meet need”?</p>
<p>How much do you have to pay for each child?</p>
<p>BTW…there is no “general rule”…because most kids aren’t going to schools that “meet need”. So, most people don’t see any or much discount with 2 in college.</p>
<p>How about with a school that meets ‘100% of need’?</p>
<p>My brother graduates from State U. next year, and I was wondering if that would effect the amount of FinAid I would get from a school that boasts a 100% need award. Note, he has a full scholarship and my parents has only required my parents to pay ~$2000 total during the last four years. Will my aid decrease after he graduates despite the fact that he wasn’t really effecting our family’s ability to contribute?</p>
<p>Your school doesn’t care that he had a scholarship. That was a “bonus” for your family. While getting this big scholarship discount, parents should be setting aside money for when Child #2’s cost will rise. Child #2 is you.</p>
<p>your aid will decrease significantly when your bro graduates because the school will be comuting its formula based on one student in school.</p>
<p>So, during this next year, your parents probably need to start setting some money aside as if they were paying for your brother’s education because your costs are going to go way up when he graduates. If your parents are now paying - say - $15k for you, they will likely be paying about $27k for you in the future because not only will your brother not be in school, but your family size will shrink by one member.</p>
<p>One goes to a Canadian school for 13k a year and will be a senior. My next one is starting as a freshman at a school that meets needs, expecting us to pay 17k of over 50k tuition, so I was wondering how much it will go up the year after the senior graduates.</p>
<p>If your income/assets stay the same, and your household size decreases by one (when older child graduates), then you might expect that the school will expect you to pay about $34k (plus or minus a few thousand).</p>
<p>
</p>
<p>mom2collegekids: I don’t have a lot of experience with this, but I think at least some schools might care if a sibling had a scholarship; OP might want to check with the school. Our family will have 2 in college this fall and some of the “meets 100% of need” LACs D2 applied to asked for quite a bit of detail about D1’s college expenses (both last year and anticipated for this year), including total cost, as well as how much was covered by scholarships vs paid by D1 vs paid by my husband and I; it’s hard to believe they didn’t plan to adjust D2’s awards based on that information. </p>
<p>D2’s awards met full need in line with her FAFSA EFC which I figured was due to D1 being essentially full pay. I can’t be sure D2’s awards would’ve been less if D1 had been a scholarship recipient, but it would seem odd - why ask for all the details re: who paid how much last year if it wasn’t going to be considered?</p>
<p>Private colleges may care very much if a sibling gets a scholarship. It just depends on their own methods for calculating need. The CSS Profile asks specifically how much the parents paid for the sibling’s college in the previous year and how much they expect to pay in the coming year.</p>
<p>Just generally speaking though, it’s probably misleading to ask “how much less will we have to pay” with two in college. Theoretically, you won’t be paying less over all, even though you might be paying less for one of both the kids individually. The parents’ total bill for combined college costs will not be lower in any given year than if just one was in college.</p>
<p>I’ve seen numbers all over the place for families with two in college. It can become very tricky when the two schools use different methodologies. When a school does not guarantee to meet need, a family may get no increase in aid when another student starts college. .</p>
<p>That’s very true. I have one in a school that does not meet need, and the only effect of her brother also being in college, is that our FAFSA EFC is lower for her – it is for each kid individually (but not collectively.)</p>
<p>On the other hand, my son’s school -which does meet full need- increased his aid when his sister started college, because our “need” increased.</p>