<p>I've always assumed that private schools were much more expensive than public schools in the long run, but my friends have been telling me that private schools generally give a lot more financial aid and scholarships and end up being less expensive than large state schools in the long run. Is that true? I'm not sure that it would be true for me. The top public schools I'm applying to are UNC, UVA, and William and Mary, and my top private schools are Vanderbilt and Boston College. Could I potentially go to BC for less than UNC?</p>
<p>I don't know much about financial aid, but I assume I wouldn't get much need based aid since my family makes about 90k a year. Although I do have 1 sibling currently at Notre Dame (who didn't get much aid) and 2 younger siblings. I could get a lot of merit aid at other schools since I have a 34 ACT and a 3.9 GPA UW, but I'm not sure if any of these schools give much merit aid. I want to be an elementary school teacher, so I don't want to graduate with a ton of debt. Anyone have an idea on what would be the best college to go to for me or how much aid these schools would give?</p>
<p>You need to run the net price calculator for the schools on your list to see what they show. If you have another sibling in college at the same time, your aid would probably be better (just remember that when he graduates your cost would go up). The calculators are on the school website in the financial aid area. You will need help from your parents to run them.</p>
<p>What state do you live in? That makes a difference, obviously (are UVA, William & Mary, and UNC in-state or out-of-state for you?). If you are an in-state student to a public school, tuition is lower than if you are OOS.</p>
<p>You should visit the financial aid websites at each college also to see what they say about merit aid. I don’t think of any of your colleges as strong on merit aid, but honestly they were not on my kids’ lists so I have never looked at them specifically.</p>
<p>You definitely don’t want to take on a lot of debt if you plan to be a teacher. So you will want to look hard at your in-state public options, or private schools that give good merit aid AND where your stats put you in the top 25% of their applicant pool (or higher).</p>
<p>but I assume I wouldn’t get much need based aid since my family makes about 90k a year. Although I do have 1 sibling currently at Notre Dame (who didn’t get much aid) and 2 younger siblings. I could get a lot of merit aid at other schools since I have a 34 ACT and a 3.9 GPA UW, but I’m not sure if any of these schools give much merit aid. I want to be an elementary school teacher, so I don’t want to graduate with a ton of debt</p>
<p>Are you sure that your parents don’t make more than that? Is that their gross or net income? Or do they have a lot of savings or home equity?</p>
<p>The reason I’m asking is it would seen that ND would have given a good bit of aid.</p>
<p>Are your parents happily paying for your sister? Or does she have debt?</p>
<p>What are they saying about how much they can pay for her and for you attending college at the same time? If not, ask them</p>
<p>You’re not likely going to get merit at your listed schools.</p>
<p>Since you have high stats and you want to be a teacher, you should also apply to some schools that have good Col of Education AND give good merit…those can be your financial safeties.</p>
<p>If you are instate for UNC-CH, I seriously doubt you will get a better deal at any of the other listed schools. Your sister is attending ND, a school with generous need based aid. If she isn’t getting much aid, it is possible you won’t either…and if you get aid it will likely NOT bring the costs below that of instate at UNC…which is a terrific bargain for a terrific school.</p>
<p>How much IS your sister getting? At a school like BC that meets full need, it is possible you would get a similar amount. The years two of you are in college, it is possible that the need based aid will be more.</p>
<p>If you haven’t run the net price calculators on these college websites, do so ASAP. If your parents are self employed or own a business, are divorced, or own real estate other than your primary residence…the NPC might not be so accurate.</p>
<p>Have you applied to any schools with guaranteed merit aid? Have your parents given you a budget for college costs…and how much they will be able to contribute? Is there some college savings for you?</p>
<p>The cost of attending ND is in the $50,000 range. I have a hard time seeing a family with an income of $80,000 doing that sort of cost each year without substantial savings as well. I hope they arent funding ND with loans.</p>
<p>Thank you all for your answers. I’m out of state for all of my schools. It’s just an estimate; I’m not exactly sure of how much my parents make. When my brother started college at ND my dad had a 6-figure paying job that he’d had for 15 years, so we have a lot of savings, but he has since left that job and makes less now. My parents are willing to pay for a good bit of our college expenses, but they want us to have to be accountable for 10 or 15k a year or so depending on the school. So if I were to get any scholarship, that would come out of the amount I’m responsible for. I know we haven’t taken out any loans to pay for my brother at ND, but I don’t know how much aid he’s getting.</p>
<p>My parents are willing to pay for a good bit of our college expenses, but they want us to have to be accountable for 10 or 15k a year or so depending on the school. So if I were to get any scholarship, that would come out of the amount I’m responsible for. I know we haven’t taken out any loans to pay for my brother at ND, but I don’t know how much aid he’s getting.</p>
<p>??? how is your sibling covering that $10k-15k per year? That’s $40k-60k total??? </p>
<p>Anyway…what schools are you applying to that your know FOR SURE will give you a lot of merit??</p>
<p>You don’t seem to have even one financial safety in your mix or any schools that offer really good merit aid that I am aware of. Your parents have taken an income hit, and you don’t want a lot of debt. Seems like you need to rethink your school list. What state do you live in?</p>
<p>Notre Dame and the schools you are looking at are all pricey for out of state schools. As you want to be a teacher, I would think that 10-15K of debt per year could be pretty crippling. Teachers don’t make a ton. With your scores you can get pretty substantial scholarships at lots of schools and still get a fine education. </p>
<p>Just move down the rankings a bit and target schools from say 50-150 on the US News scale and your scholarship amounts will grow significantly. You’ll qualify for honors colleges at all of them. You’ll get great training and come out debt free!</p>
<p>I’ll change my opinion. Since you are OOS and looking at expensive private schools AND you already have a sister attending a school where she is receiving little aid, you really need at least ONE affordable option…just in case your current high priced list doesn’t come through with the money. </p>
<p>The schools on your list all use the CSS Profile…which will look very closely at family finances when determining aid. BC also uses primary home equity in their equation.</p>
<p>As mentioned…run the net price calculators. See what they say. Then certainly apply if you wish to. But you really need to discuss college finances with your parents. And be prepared to walk away from any offers that are unaffordable.</p>
<p>You can take a $5500 loan freshman year, $6500 soph, $7500 junior, and $7500 senior years. Anything above that your parents will either need to cosign or take themselves.</p>
<p>Also, view college for the FOUR year duration. While you may receive more need based aid while your sister is also in college, your aid will be reduced when she graduates. Can your parents absorb that cost after having paid for both of you for several years? </p>
<p>You also might want to look at your instate options, especially of you plan to teach in that state. Teacher prep programs in that state will align with certification requirements in that state.</p>
<p>Yes, I made that mistake. I read “sibling” as “sister.” oops.</p>
<p>Yes, the student needs to apply to some big scholarship places. The idea of having the student contribute $10k-15k per year as an elem teacher is too much. The early years of teaching just don’t pay well in most areas. </p>
<p>Sounds like the parents have a lot of savings which is driving up their “family contribution”. Maybe the home also has a lot of equity or is paid off?</p>
<p>The OP stated she must come up with $10-$15K, which can include merit and/or need-based aid:</p>
<p>
</p>
<p>OP with your stats, I would look at only at Instate or auto-merit schools since merit aid is next to nothing at public Us. With your stats, there are numerous schools below the top 40 LACs that would throw merit aid your way in the $20K+ per year range.</p>