<p>We are very lucky that D2 will be able to take advantage of a tuition reimbursement benefit from one of our employers. I've talked with the HR dept and I understand how it works on their end, but they didn't know how it would affect things on the schools end. I'm guessing I'll end up having to contact the schools directly, but I figured I'd ask the CC experts first ;)</p>
<p>We are not full pay based on income, but the tuition benefit should cover the difference between our EFC & the COA for all schools. In my mind that makes us look like full pay on paper. Given the chatter on CC this year about how being full pay could be a tipping point at certain schools, should we disclose this somehow during the application process? Do we just not check the FA box on the application? </p>
<p>Do you need financial aid to go to certain schools? Are you going to be applying for financial aid? IS that tuition reimbursement guaranteed? </p>
<p>The way I look at it, is that if we cannot afford a certain school unless we get financial aid for which there is a possibility of getting, gaining admissions is a total waste of time. So if you need financial aid, you tell them that you do. If you do not need money from them or abolutely do not qualify for the money, then you do not. Even if you do not apply for financial aid through the school or check that little box, you will be eligible for PLUS and your student for STAFFORDs and PELL, if you are so qualified. THe box you check on the app is for the school financial aid. </p>
<p>Schools that are need sensitive for admissions tend to meet most or all of the demonstrated need or they turn down the student. So if you think there is a benefit to being accepted without getting an aid package from the school, you can just not check FA on the box. But then your student will not be getting a financial aid package with funds from the school. Plus a number of such schools will not permit you to change your mind and apply for aid even in later years without some change in financila situation. They are well aware of the ploys that people use to up admittance chances and then try to get financial aid when the did not file at the onset.</p>
<p>Are you sure that your tuition benefit will cover the tuition at all of the schools on your child’s list? Does your employer place a cap on the tuition benefit (contact your HR department, because policies change from year to year. I remember my former employer going from uncapped tuition reimbursement one year to a cap of $10,000 year, prorated by gpa-100% for A’s, 75% for B’s, 50% for C’s).</p>
<p>I agree with Cpt, that you need to contact the financial aid office of the schools in question to find out how this will work for your situation, including honoring your employer plan for your child’s 4 years. </p>
<p>You want to know if your child decides to go abroad, if you will still be able to use the plan? What happens if your child does a study abroad outside of the “university sponsored” study abroad program? Will your plan cover it?</p>
<p>I would recommend going a step further and asking about obtaining an early read, so you have an even better idea of whether or not you can afford to pay everything outside of tuition out of pocket, or if you will have to borrow.</p>
<p>These programs do change from year to year. My friend who works for a college that used to give an allowance equal to their tuition for employees’ kids who go elsewhere to college, now is in some complicated tuition exchange situation where you enter a pool and if your child is accepted and is going to a school where another kid whose parents work at that school your kid has selected,then there is that exchange. The process was so complicated that I could not get how it worked. In any case, her daughter did not win anything in that lottery so it came down to going to the school where mom worked for free tuition, or being like everyone else. </p>
<p>I’m not panning the benefit, in that it is a benefit and those who study it well and focus on it, can get an award but it does require work, chance and the willingness of the student to accept what come available in light of other choices, in such cases.</p>
<p>On the other hand, another friend’s workplace offers a flat amount towards other schools tuition, up to the actual tuition and fees charged, if less. They absolutely needed financial aid for the private schools, as the amount was about $8, and they did qualify under most private schools financial policies for about another $20K. There was no question about not going for that amount of money by not applying for aid just to possibly get a leg up in admissions to a given school. There really are not all that many need aware schools, and if your student doesn’t get accepted due to financial need, well, that is just the way it goes, unless you have a stash you intend to use for that purpose.</p>
<p>When your student’s acceptances come rolling in next year, all this emphasis on trying to get into any given school become moot as you try to figure out how to pay for the choices. I see this each year. Right now you are focused on the chances of getting accepted rather than how to pay for the acceptances. THis focus is truly short lived whereas the other is one that can be in your life and the student’s for a very long time.</p>
<p>I did a lousy job of explaining Yes, it is a guaranteed benefit and it is totally portable & applicable to any school that is accredited for up to 8 semesters. The $ amount is only available for tuition (not room & board) and is for a set percentage of tuition up to a pretty high amount. It is changing for people being hired after the next fiscal year, but that doesn’t apply to my house.</p>
<p>I ran all the NPC’s a few weeks ago, then double checked with the HR dept. to make sure that I know how they handle merit aid in combo with the tuition benefit (D2 will probably be a NMSF and her test scores qualify her for automatic scholarships at some of the schools on her list.) </p>
<p>Even in the highest price tag scenario, at schools that don’t offer merit aid, the net price for tuition - our benefit + room & board comes in under what our EFC looks like. Which is still an amusing number </p>
<p>Sybbie: I haven’t heard about an early read. Can you tell me more? The only thing our HR department had mentioned is that I could send a copy of the tuition policy in to the schools that she’s applying to, so that the schools would know ahead of time. </p>
<p>While it would be nice to get a “boost” for looking like a full pay, I’m just really trying to get a handle on how this really works so we can be as realistic with D2 as possible.
Thanks guys!</p>
<p>Apply for fin aid. It’s never a bad idea. If the benefit is changing for new employees, it may very well change for current employees before your d finishes her 8 semesters. You want the option to apply for aid open if the future in the unlikely event that you need it.</p>
<p>You’ll have to report the tuition policy upon applying to financial aid anyways so you are not likely to be able to double dip. If you don’t apply for financial aid, there is no reason to send the tution policy. If you do apply, you’ll likely have to include it in your financial information, and it will come off of any aid that might be given.</p>
<p>The policy won’t apply for merit money. </p>
<p>I would apply for financial aid because you don’t know where you will be job wise at the end of the year, or what the fate of this benefit will be. If you want to throw in a few schools without asking for aid, then do that as well.</p>
Yes, it is a guaranteed benefit and it is totally portable & applicable to any school that is accredited for up to 8 semesters. The $ amount is only available for tuition (not room & board) and is for a set percentage of tuition up to a pretty high amount. It is changing for people being hired after the next fiscal year, but that doesn’t apply to my house.</p>
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