<p>just my 2 cents -- I'd insist that not saving for college isn't always an irresponsible choice. If the income was going for frivolity, yeah, I'd agree. But like many others, we've chosen to invest in the kids' early education -- pre-college -- as probably the more crucial learning time. Good schools, music lessons, math camp, foreign languages, enrichment of all sorts -- from birth on. College can take care of itself.</p>
<p>I want to clarify my earlier post - it was not directed at anyone on CC, but at many people I know who live very extravagant lifestyles compared to mine, and then complain that they have no money to pay for college. I did not mean to be insensitive to people whose income went to pay for necessities or had illness or unemployment crises to deal with.</p>
<p>Re: situations like the OP's--
How common is it for families to have success when haggling (for lack of a better word) for a better aid package from colleges? Are schools apt to work with them, or not budge much??</p>
<p>it depends on how bad they want you and what their policy is
Ds school- doesn't change EFC- or didn't for us anyway- from what FAFSA had identified.
However, other private schools may use their own forms and allow families to advocate for themselves regarding costs & make the case that the package isn't enough to attend &/or that another school is offering more support.</p>
<p>From reading the boards you will get more of a sense of what schools meet 100% need
what schools gap and what is even more devious, make their 2nd year finaid offer significantly less than for freshmen year
which school will say that "loans" are all thats available.
Public schools, even instate schools often don't have much merit & they don't offer much need based either.
If you are out of state, you have even less chance to get aid from a public school, except small amount of subsidized loans.</p>
<p>In our experience anyway.</p>
<p>We had always assumed offers were all four years --
something else we didn't learn until this year on CC.
Another question -
We know a student going to a school chosen in part for generous need-based aid -- basically 100% need met if accepted. However, about 1/3 of the money is in the form of an academic scholarship.<br>
Either way, the school would probably be covering roughly the same amount. Is the academic scholarship used as a reward or incentive to make sure the kids keep up with their work and grades?</p>
<p>I know I would assume that too lspf
But we had to fill out FAFSA & PROFILE ( and submit tax forms) for every year that D recieved aid. Her aid remained relatively constant- but especially schools that don't meet 100% of need may offer lots one year to attract students</p>
<p>Some aid does have a requirement of a GPA, which sometimes is reasonable, but if it keeps the student from trying a different class or if the GPA is pretty high for that school or major- it could really cause difficulties.
I think that may be worth investigating before accepting the scholarship.</p>
<p>Thanks----</p>
<p>"They somehow expect my family to pull $6,000 out of thin air every year for college!"</p>
<p>They expect you to pull it out of past savings and future (higher) earnings, paying off the college bills in depreciated dollars. They do NOT believe you should be paying it out of current income (unless you are in the top 3% of the population.)</p>
<p>How will prepaid tuition plans be handled by colleges beginning for fall 07 admissions? I know that such plans now count as parental assets rather than student assets, but how much and whom (family share or college FA) will those funds really help? </p>
<p>I am a divorced mom with 2Ds. My ex and I have prepaid 3 yrs of state college tuition for our joint D and I have 2 yrs prepaid for my post-divorce adopted D (no dad or child support for her). The girls are both in pretty good shape if they choose to attend the 40K student U of ILL or one of the much lower-ranked ILL state schools. Ds will not qualify for federal grants and my estimated EFC is c $11K. Our 'joint' older D is a senior and has 1/3-1/2 tuition merit scholarships to many LACs (which she would prefer over the state schools), which of course have their own supplemental FA forms. </p>
<p>These forms all ask about value of prepaid plans. Does this mean I can expect the schools to still reduce their FA offer by the yearly amount of the prepaid tuition (which will be about $8K per 2 semesters if used at an LAC) despite the federal change re these plans? In my dreams I had hoped I could apply that $8k against my EFC, but my gut is telling me the schools will consider that amount as being in addition to my EFC even if the fund is considered as part of my assets on the FAFSA. How the colleges figure in the prepaid amounts may infuence the final choice between an LAC or a state school for both girls. Any insights? Some friends say duh--go the state route, but 15K or 40K student body versus a 1300-2000 student body, smaller classes, better study abroad programs, etc complicate the choice at an individual level.</p>
<p>bookmom - Several smaller IL schools are great with finaid. Check around. My EFC was 0, and I attended an LAC. Tuition was about 18K, I think, and of that I took out 3K a year in loans. Everything else was Perkins, state grants, and merit scholarships. It was actually cheaper than if I had attended a public. I also did CC for the first 2 years - depending on where you live, College of DuPage is an excellent CC and has great transfer agreements.</p>
<p>Nervousmommy, I hate to sound like a kill-joy but what you did may not be the smartest thing. As you know, per the system, the more you save, the more you have to pay. </p>
<p>Since there are schools that will meet 100% of your need, why sacrifice your own living to save even a penny for education. </p>
<p>Unfortunately, we did the same thing as you did. As of right now, we are planning some grand vacations and buying luxury cars. Heck, I will even go buy a beer to watch some football today.</p>
<p>laserbrother, Are you serious? I don't think that you are serious, and I know you will get some responses to your post. Seriously though, I know a family whose brilliant son attends a school that meets 100% of financial need. It is a very expensive private. I noticed that 2 years before he attended, the family took their modest middle class home on a tiny plot of land, and rebuilt the inside and outside. I think it would still be valued the same way when using the basic computer program, when one plugs in year of purchase and cost of home at the time of purchase. Now the home has a new kitchen, all new baths, new floors, windows, roof, siding, etc. When I saw the construction (nothing was omitted in that overhaul), I was thinking that they wanted to unload any equity, and cash on hand before sending their son to college.</p>
<p>Please folks...the one thing to remember when "divesting oneself of assets"....when the money is gone on vacations, house renovations or new cars, it is NOT then available for college expenses. AND there really isn't any guarantee that you will receive "free money" finaid to meet your cost of attendance minus EFC (except at some VERY select schools). This, in my opinion, is a huge gamble, and it's simply not worth it.</p>
<p>thumper, I agree with you. The young man I am referring to was an out of the ordinary, Ivy-League caliber student. I guess it worked out for their family, b/c he did go to the school that meets 100% of financial need. They lived in the same home for 13+ years without any renovations. 2 years prior to college, the entire home was rebuilt from top to bottom. I assume that they had alternatives if their FA package did not work out, since the father is a brilliant man. I just think that he planned his finances to max out any aid packages, and I assume that he was successful.</p>
<p>True story...brilliant student, val of class, very high SAT scores, great and committed ECs. Family had limited income/assets and full need schools would have been the best choice. Applied to three Ivies, and one OOS public. Got DENIED acceptance at those Ivies (remember some accept less than 10% of applicants...90% get rejected). Student went to OOS public and it cost them a LOT because, as we all know, OOS publics first have an obligation to their instate students. It all worked out well for this student and he is very successful...but remember that those full need schools are NOT a shoe in for acceptance by any measure or means.</p>
<p>
[quote]
They lived in the same home for 13+ years without any renovations.
[/quote]
Just wondering: wouldn't the house then have needed renovations? Perhaps these folks didn't need to make their modest home a showplace, but when the roof and windows go, they've gotta be fixed, regardless of whether the family is trying to minimize the EFC.</p>
<p>I'm always somewhat skeptical when I hear about families who spend lavishly on cars, homes, and vacations and then are rewarded with a low EFC. I don't think I personally know anyone who's played that game and won. Yes, some families throw money around, but if their income is above a certain level, they're still expected to pay the full cost of attendance, even if they don't have money sitting in a savings account to cover it. Then they have to borrow, change their spending habits drastically, or send the kid to a lower cost school ..... just like everybody else.</p>
<p>frazzled, sure a roof may have been necessary, and perhaps a new furnace was necessary too. We live in a older home and there is always something that needs to be upgraded. We had some remodeling done where needed. I am saying that this house was completely revamped 2 years before college.</p>