<p>With the likelihood of people reconsidering private uni over the next few months with the economic down turn - you think schools with such large endowments are going to be more willing to hand out Fin Aid, and more generous packages. Right now i am slated to transfer to UM next semester but really want to go to ND instead. One thing will be getting in, the other will be paying for it. Think Privates will be more helpful with funds since the applicant pool could potential shrink for at least the next few years?</p>
<p>My family is 9 kids 3 of which are in college - my sisters attend school combined cost 25K and then UM 40K but nd is pushing 50K</p>
<p>My mom is retired and my dad used to pull in 6 figs but with the eco downturn that is substantially less. most of our assets are in property and trusts which we wont dissolve for college.</p>
<p>Think that i can get some substantial package from any of them?</p>
<p>Run the numbers to find out your family's EFC. Don't expect that schools like ND will be any more generous with financial aid than they have been in the past, especially considering that their endowments have been adversely affected by the market decline, and it is likely that more students will be applying for financial aid.</p>
<p>Much depends on your family's income. ND would most likely have better need based aid overall, since UM is a state school & ND is private. However, if your EFC is high, it doesn't matter how good ND is with aid - you wouldn't qualify, anyway. You can apply, fill out the financial aid paperwork, and decide once you get offers to compare.</p>
<p>how does an efc of 47 work? it isn't that my parents income is low.. it isn't my dad does very well for himself. my mom is retired - but there are nine kids in my family - none adopted and well, we are catholic haha. But 3 including me are in college and another will be in college in 2 years.</p>
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<p>most of our assets are in property and trusts which we wont dissolve for college.>></p>
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<p>You still have to list these assets on the financial aid forms. Even the FAFSA expects properties (not your primary residence) and the values of trusts to be listed...even if you don't intend to use them for college. The reality is that if you HAVE the money in a trust or property, it is your family's choice not to use it for college purposes. The choice not to use this money is not considered by the colleges when computing financial aid.</p>
<p>Your family must have some assets somewhere to be paying for the three kids in college. If there are others in college already, you should have some indication of what your financial aid will look like...if they applied for financial aid.</p>
<p>If you have substantial assets the FAFSA is useless for aid. I ran the numbers for our son's first year and EFC was $80 to $90 thousand. I don't really don't make that much either.</p>
<p>I actually think that a Catholic college might be an excellent financial aid bet for you, if you are, as you imply, Catholic. Overall, though, I am not sure how your family will pay for
3 kids in college, low EFC or not! I would expect to be offered loans and work study, most definitely, and I would read over kelsmom's various responses to you on the other thread to determine if any current aid you receive will follow you to the UM.</p>