<p>Has anyone heard of any move to promote transparency in college costs? i.e. how much will a 4 year degree cost in total, not just year by year.
The packages for the first year are quite clear and understandable. However, this is at least a four year expenditure. Given the FAFSA formula, EFC can vary substantially from year to year with multiple children in and out of college. The finaid offices are generally helpful, but why won't someone just make a firm commitment?</p>
<p>Any ideas of how to figure the variations in the EFC and what a particular college will do? I am very nervous about making a mistake in calculating and finding there are not enough resources to continue all the way through.</p>
<p>If you take away the financial Aide portion of the formula, there are several schools that offer a 4 year pay up front price with a discount.
On the other hand>>
In some cases you could actually get more and more aide as you go further and further into debt ;-)</p>
<p>What about students who will complete their bachlor's degree in less that four years? A four year pay-up-front plan wouldn't work too well for them if that's all their planning on earning.</p>
<p>OP: The yearly cost would rise about 4-5%/year. Unless your EFC fluctuates drastically (parental income, capital gains, inheritance, winning a lotto), the college awards will generally keep pace with the rising cost. For planning purposes a 6-7% rise in your contribution is a good a good number.</p>
<blockquote>
<p>The finaid offices are generally helpful, but why won't someone just make a firm commitment?>></p>
</blockquote>
<br>
<p>Because for need based finaid, there are just too many variables that are out of their control from year to year. For example, DD got need based aid for the upcoming year, but will not qualify for it at all in subsequent years because her brother will no longer be in college. Also, fluctuations in income, inheritances, and other financial windfalls (as mentioned by Simba) are not predictable to the colleges for each student.</p>