<p>We just don't see how our family could possibly send Son to Colgate. And it breaks our heart. From afar it really looks like the ideal place for him. But...</p>
<p>Even if we reach our $100K forecast for savings
and if we cash flow $6K - $10K per year
and if son borrows the unsub Stafford max,
and if son wins some outside scholarships...</p>
<p>We're probably still facing a $50K - $70K gap. So, since Colgate doesn't offer merit aid, there's really no point in applying. We just can't justify that much debt for an undergrad.</p>
<p>Anyone else face this situation? Did you come to the same conclusion?</p>
<p>I don't know your situation, but I can tell you that Colgate practices what on this board is called "preferential packaging." IF your son is likely to be among the top applicants to Colgate, he will have a shot at being offered admission as an Alumni Memorial Scholar. While the designation doesn't officially come with any additional aid (other than $5,000 for independent research), it's been my experience that AMS students are offered superior aid packages. My D is an AMS. My S, who was admitted, did not get this offer and his aid package was inferior (he will be attending another school). </p>
<p>It's my understanding that AMS has specific requirements that aren't published. I don't know specifically what they are, but I would say a student needs 1500 plus on the SAT's, high class rank, and some significant accomplishment in at least one EC.</p>
<p>FWIW, D's senior package was actually better than her previous ones; her need was met without loans.</p>
<p>Again, you might be in a financial situation where you have no "need," in which case none of this helps.</p>
<p>I would certainly say to apply and see what happens before coming to this conclusion. There are many stories of students the school wants receiving good financial aid packages.</p>
<p>I guess is a definition of terms, but I would not agree that 'Gate practices 'preferential packaging' in the same vein that schools like NYU and George Washington do. Yes, Colgate offers a one-time lump sum research grant to the top few % of its class, but other than than, it meets 100% of need if accepted (Colgate is not need-blind on the margin). Schools that practice 'preferential packing' (cough, cough NYY, GW) can and do meet a family's "financial need" will all loans, including a PLUS loan. However, for kids that they really want, NYU and GW can be extremely generous with grant aid. That, to me, is preferential packing.</p>
<p>In contrast, Colgate will mix a grants, work study, summer earnings and a Stafford.</p>
<p>Doug:</p>
<p>run the finaid calculator on collegeboard and see what it calculates for you. While every college is different, it can give you a good idea of your efc. Good luck.</p>
<p>I'm no expert and this is purely anecdotal, but D's financial aid was significantly better at Colgate than most other colleges and was the best of the offers she received. Colgate's calculation of "need" was greater than those of the other schools. Conversely, for the same school year and for the same family, S's financial aid offer from Colgate was middle of the road and significantly lower than D's. Yes there was one difference in that S has some savings, but I compared D's original offer - where she was in a very similar situation - with S's now, and D's was quite a bit better.</p>
<p>That, I think does meet the definition of preferential packaging. Yes, Both their needs were met; it's just that D always had a greater "need."</p>
<p>Dad, I doubt Son would be in Colgate's top X% of applicants. But, I'd like to think he is a strong candidate. Thinking realistically, Alumni Memorial Scholar may be out of his reach.</p>
<p>gellino, I see where you're coming from. And I'm willing to have him apply. But, H is so pessimistic I'll have to wait for just the right time to float the idea of a "let's just see" application.</p>
<p>bluebayou, yes! I'd love to run an EFC calculator to see just how much we're talking about. Thing is, I don't understand our finances enough to put in the right numbers. (Self employed H with S-corp just for starters.) Our 2007 taxes will be finished soon (yes, extension), so I guess I'll try again.</p>
<p>D chose not to attend Colgate, but Colgate's fin. aid offer was the best of all the schools that accepted her, and that included several schools who offered merit aid.</p>
<p>It's been said on these boards that if Colgate chooses to offer you aid (they want you badly enough), that they are quite generous.</p>