<p>The data from the Oberlin link posted earlier gives both average total aid (grants plus work-study plus loans) and average grant. You can get a rough idea of your actual cost by subtracting the average grant for your income level from the cost of attendance, which was about $35K back then. At Oberlin, you can also lower the cost of attendance by a few thousand dollars by joining the housing and dining co-ops. They require a few hours of work per week, but on average the amount saved divided by the hours worked comes out to a better salary than any of the work-study jobs, it is not taxable and you learn some valuable life skills to boot.</p>
<p>These numbers are also completely independent of merit-based aid, which is given to about a third of conservatory students in the amount of $8K to $12K per year, renewable for five years for double degree students. If she is good enough to get one of these, the cost per year could be a good bit less than your EFC. If you can afford to pay even $10K per year toward her education and she works over the summers, then I think the debt at graduation would be a lot less than you think.</p>
<p>The likelihood of getting at least some aid can be estimated by dividing the number who demonstrated need by the number of aid applicants. It is pretty good for family incomes up to $100K.</p>