<p>Many of these suggestions are to schools that don’t meet need, so unless the merit is HUGE, any merit is just going to go towards need and then there will likely be a gap that is in addition to the EFC.</p>
<p>This family’s goal is to only pay $10k per year since they have another child in college. That essentially means that the merit scholarship would have to cover ALL of tuition and perhaps a bit more. </p>
<p>Additionally, the family needs to find out if Child #1’s school is going to increase aid once that EFC drops. The school may not increase aid and then the family may find that they still have to pay $20k+ per year for that child’s school plus pay whatever Child #2’s school expects. And, as we know, returning students often don’t get their aid packages until nearly summer! </p>
<p>Sometime back, a dad posted his situation with his 2 kids. He let Child #1 choose a school that cost about the same as his EFC, thinking that when Child #2 went to school that the first school would give a grant due to reduced EFC. When he asked he was told that Child #1 wouldn’t receive more aid. So, now Child #2 needed to attend the huge merit scholarship school because the family can’t pay 150% of their EFC. The entire budget plan fails because there was no reduction in actual family contribution for Child #1. Since most schools do not meet need, this often happens. And, again, at CSS Profile schools, the split isn’t 50/50…it’s 60/60 according to THEIR calculations.</p>
<p>The student needs to apply to schools that meet need, schools that have a low COA, and to schools that give HUGE merit scholarships.</p>