<p>If you can bring up your math/critical reading scores to 1400 or higher, Pitt is likely to give you a full tuition scholarship, leaving you with only about 10k to pay in room/board… roughly.</p>
<p>Do you have a job? You could make a few grand in the summer if you work full time. That, plus Stafford loans, plus work during the year could get you up to almost $50k- which covers the VAST majority of schools in the country. Congratulations! You are very lucky.</p>
<p>ETA: No, you should not take out $40k in loans. You shouldn’t take out more than the loans you can get in your own name without a cosigner (ie Stafford loans). If you don’t think your parents understand tuition increases, try showing them the school’s website with the COA.</p>
<p>OP, I’ll give a different answer.</p>
<p>Your parents were clearly stunned by how much COA has increased since your sister attended college. Based on what you’ve written, there are two possible reasons for your parents giving you a $40k budget. They could have financial issues that you don’t know about, and $40k really is the limit of what they can afford. Or, they want you (like your sister) to have some skin in the game, and they want to treat you and your sister in an even-handed way by giving you each the same level of support. </p>
<p>If their budget really is constrained, then you have to live and work with that. If, on the other hand, they could afford to pay more but want you to feel the consequences of your choices, you could find out if it would be possible for them to increase the amount they’re willing to pay per year so that your total indebtedness would be the same as your sister’s–a different way for them to treat the two of you equally.</p>
<p>Your job is to talk to them in a calm and adult manner…and then abide by whatever budget is set. I agree with others that Penn State and Pitt are good deals and good schools. And you can reduce (even eliminate) the amount you’re in debt by working during the summer, part time during the year, and/or going to a less expensive school. </p>
<p>As for the kid who told you that his parents snuck money out of their bank accounts so that he could get a free ride, you’re right to be skeptical. Expected Family Contribution overwhelmingly depends on income. Some students might be self-confident enough to say that yes, they got a big financial aid package because their family is poor…but others are going to feel embarassed, and will come up with some other story. Like, for example, how their parents managed to hide all their savings to cheat the system.</p>
<h1>1 - 40k is a lot of money for your parents to contribute: congratulations!!!</h1>
<h1>2 - our family earns in very low 6 figures and recieves need-based aid; you gotta apply for it to get considered . . . so apply.</h1>
<h1>3 - there are many many many schools that provide merit aid . . . your job is to find schools that you like that are also likely to offer you merit-based aid</h1>
<p>In our family’s college searches we instituted the concept of “financial aid safety schools” . . these are schools where the NET cost (full price minus need-based aid minus merit-based aid) started with a "2 (i.e., below $30k) </p>
<p>Here are examples of financial aid safety schools
OSU - total cost all in for OOS ~$35k minus total ot $8k need-based and merit aid = $27k
McGill; $27k all in
Oberlin - $55k all in minus $12k need-based aid minus $15k merit aid = $28k</p>
<p>Here are examples of schools that were not:
U Michigan - $47k all in OOS minus $6k need-based aid minus $6k merit aid = $35k net
UVM: $44k all in OOS minus $4k need-based aid minus $3k merit aid = $37k net
Vassar: $55k all in - minus $16k need-based aid = $39k all in (Vassar does not provide merit aid)</p>
<p>Some schools that are generous with merit aid include:
American offered 36% of applicants “non-need based aid” averaging $16,086
U Rochester offered 73% of applicants “non-need-based aid” averaging $9,620
U Richmond, 11% and $29,539
Davidson, 21% and $19,079</p>
<p>So, to answer your question . . what you need to do is expand your college search to include financial aid safety schools . . . like with clothes: NEVER PAY FULL PRICE!</p>
<p>*Some schools that are generous with merit aid include:
American offered 36% of applicants “non-need based aid” averaging $16,086
U Rochester offered 73% of applicants “non-need-based aid” averaging $9,620
U Richmond, 11% and $29,539
Davidson, 21% and $19,079</p>
<p>*</p>
<p>*3.87 UW, 4.4 W
2000 SAT (1350) awaiting Nov </p>
<p>*</p>
<p>The student needs to look to see where a 1350 falls in these schools’ stats. </p>
<p>For instance, at Davidson…</p>
<p>SAT Critical Reading: 630 - 720
SAT Math: 630 - 710
SAT Writing: 620 - 720 </p>
<p>A student needs about a M+CR 1430+ to be in the top 25% - the range where merit might be awarded…since 21% get some merit.</p>
<p>I also think that PSU or Pitt are your best bets unless you get enough merit elsewhere to reduce costs below $40k.</p>