<p>We have. But in my experience, most parents don’t. They kind of leave it up in the air saying it will work itself out. Que sera sera. </p>
<p>We did both, but D was also applying mostly to private schools where she had high likelihood of receiving merit aid, so NPCs really weren’t that useful. The LACs she was applying to don’t give guaranteed merit aid or even guarantee amounts at different levels (presidential, trustee, and so on), so we didn’t know if the schools would end up affordable until well after acceptances were received. She knew going in that attendance was contingent on meeting certain financial parameters, and we felt comfortable that at least some of the schools would come through based on our research. When the merit awards came in, I did a spreadsheet comparison of total COA, amount grandparents were contributing, amount parents could pay out of savings/current earnings, amount she was expected to contribute, and we discussed what was left over. She had options that would not have involved her taking out loans, but ended up (for solid reasons) choosing a school that required her to take some unsubsidized federal loans (which we expect to be able to pay for her after graduation, since we won’t be paying for school anymore). I feel for kids who get in to lots of great schools, only to find they have no way to pay for them.</p>
<p>Money constraints were talked about well before the senior year. All 4 have been keenly aware of what our limits are; sadly enough we use our flagship as an example of unaffordability so they knew they would have to find merit money at schools that would come in under that price or have an extremely solid reason for choosing a more expensive school. </p>