Your aid estimate won’t go down. it will only go up.
This is from three years ago…so I’m not sure if it will apply to your situation, but I’m happy to give you the dates and increases my daughter experienced her Freshman year.
On March 6th she got her first aid estimate that put her cost to attend after gift aid…at about $17,800. She was also offered loans and work study that, if taken, would leave $10,800 outstanding.
On April 3rd she got her official Award Notice. It was identical to the estimate.
On April 18th she was given a Revised Award Notice with a $5,000 private donor departmental scholarship. This put her estimate to attend after gift aid…at about $12,800. BUT…it also reduced the amount of loans available to her. After loans and work study, if taken…it left a balance of $8,900.
On July 10th she was given her Final Revised Award Notice. Her gift aid was increased by $1000, and her loans available were decreased by $1000. So her balance to attend was still $8.900…but the revision reduced her loan debt.
Their estimated cost included $3000 for books and supplies. I think my kiddo spent about $2000 on books and supplies, buying used and looking for bargains.
So yeah…her total cost that first year…was about $8000.
She worked full time all summer and made $3000. She used $2500 from her college savings, and we chipped in $2500 on the payment plan.
Don’t mean to be offensive discussing exact costs…but I know a LOT of people desperately want this specific information when they’re starting out, and people rarely share it.
There are many families that feel overwhelmed by college costs. And students who despair about how to afford the excellent school they worked hard to get into.
Just wanted to break down how a typical middle class family did it.
For the record, at U of M, she qualified for some need based aid. At other colleges she applied to, she did not.