<p>I'm curious, why would they do that though? What's the point, I mean they could probably tell I wouldn't be able to pay the full tuition. So why did they let me in?</p>
<p>Colleges do that all the time. They do it to control their admit stats for rankings. And if you decide to attend and have to drop out after a year well they got one year of full tuition and room and board. </p>
<p>Not saying Clark would do that but its been known to happen. To a search on admit deny.</p>
<p>They do it because some families come up with the money, even though they can't afford it out of current income. Some families have grandparents offer to help foot the bill, or take out a home-equity or PLUS loan.</p>
<p>Anyone who is disappointed on any basis with their financial aid offer is welcome to post here. I'm learning more about the process by browsing through the posts, and I hope other parents are too.</p>
<p>What I figured out based on our EFC, distance away from home(ie plane fare costs), that the figures completely agree and what looks like a better merit offer/grant is sucked up in travel expenses, for us to go and or the child to come home.
Quite obvious the stats put your kid over the 75% range will gain you full tuition, then some instrument playing bonus merit, wining and dining your child on the telephone weekly, but unless the kid is head over heels in love they wont go. </p>
<p>Even at one school a one point ACT improvement in Math gained 5,000 extra money.</p>
<p>Neighbors and friends that have been thru this one IVY kid another top LAC, they say year 3 and 4 nearly killed them financially, the financial aid got much more stingey and loans piled up.</p>
<p>Merit awards
Lehigh - $6,000
Case Western - $18,000
Marquette - $12,000
Rose-Hulman - $7,000
Purdue - $1500</p>
<p>"UChicago Aid Is... Horrendous. "</p>
<p>ethanrt,
There must be something wrong in the aid calculation. UChicago aid EFC is 2K less than our estimated EFC, 7K less than Duke EFC. you can ask for review.</p>
<p>Reed's FA was $15 K less than either Carleton or Kenyon and $19 K less than St. Olaf. Haven't heard from U. of Chicago yet, but I seriously doubt their FA offer could be more of a slap in the face than Reed's. For the record, Wesleyan U's was not too hot either.</p>
<p>Removed for not so obvious reasons.</p>
<p>Our experience with Reed was that they were right on the FAFSA EFC. Even though I whined about even paying that much.
THe rest of package was small work study, small Perkins loan & subsidized Stafford and the rest was a grant, for all four years.</p>
<p>Of course she applied RD, even though they had stated that they gave most aid to returning and ED students. We didn't want to be in that position.
So RD, but Reed was also the only private school she applied to, so they may have guessed that she would attend if the package was right.</p>
<p>I applied to Pace in NY for the fact that I wouldn't have to wonder all the time about what could've happened and because I heard sometimes the pricey schools have more to give. They managed to met 33k/47k COA with a Scholarship, A grant, work-study, and a Stafford loan. I was actually pretty happy. But then they smacked me with a 14k PLUS loan (Like my mother has had anything to do with this at all) and now my dreams are crushed. </p>
<p>I think it's wrong to pretend to meet full-need by filling a huge gap with a PLUS Loan, something the student can't even do anything with. One school down, three more left to disappoint me. Two of them for the second time in a row.</p>
<p>Majesa, Pace does not meet full need. For incoming freshman, Pace meets 87% of need on average.</p>
<p>In addition loans (even PLUS loans) are considered financial aid and count toward meeting your demonstrated need.</p>
<p>I don't see how a PLUS loan can be considered "financial aid" - they are available to all parents with good credit. Need is not a factor.
Same with "alternative" loans.
If PLUS loans are considered financial aid then every school could meet 100% of need.</p>
<p>Also - if a college includes a PLUS loan to cover the COA - remember that that is the Maximum your parent can borrow by law. Many of the numbers in the COA are fluid. When I compare my kids FA packages I look at tuition, room and board. They are responsible for their books and personal money anyway so I don't count that but the school does.</p>
<p>^^I take the opposite approach. We're looking at tuition, room, board, books, personal expenses and travel. Travel costs can vary, as can school schedules. So we're looking at the school schedules to see when they have breaks scheduled and how long the breaks are. We're finding out if dorms and dining halls are open during breaks other than the Christmas one. If they aren't, or if meals will not be covered by the eating plan, then budgeting for that is part of our overall cost consideration.</p>
<p>2blue, I agree with you about transportation. There are schools out there who figure in $500/year for average transportation costs. That might be realistic if one takes bus 4 hours away, who splits gas with someone whose parents provided a car! If plane fare or Amtrak is involved those costs can add up to be several thousand/year in a heartbeat. I am currently looking at a potential school which offers a nice award that my son would be in the running for. It also means $4,000/year in flight expenses for 5 flights/year (This includes transportation to and from the college of $90 each way since this school doesn't provide transportation on breaks). That 4k expense quickly eats into the award and it makes it much less attractive. I arrived at 5 RT flights/year because there are 2 breaks/semester plus the between semester break.</p>
<p>About plus loans, sybbie, are you sure that they qualify as meeting need? Our son received a letter from one out of state public telling us that we are eligible to "apply" for a plus loan for the full out of state cost of attendance (28k,2 years ago). No other aid was offered besides unsubsidized Stafford loans. It seems to me that all schools could do this, and then everyone would be meeting 100% of financial need. I doubt that would be how it works. Oh, and obviously my son is not attending that OOS public U!</p>
<p>I know they don't officially meet full-need, but when they fill my gap to come up with the exact COA as my aid package, that's their personal little way of saying "Look, we met your need." As opposed to a few other schools, who just left a huge gap in the package and said nothing else.</p>
<p>I don't mind my Stafford Loan or taking on the loans, it is my education afterall. I wouldn't be too mad about the PLUS if it were for ME. It's for my "parent", whom they have had zero to do with at all. I was hoping to pay about 10k a year in loans, but perhaps that was reaching for the stars.</p>
<p>2blue, don't be surprised if your college student doesn't come home much during breaks. Many kids choose to stay at school or go away with friends. </p>
<p>Many kids wind up spending spring break with their friends and often, kids only have a few days off for Thanksgiving - those living nearby may go home (and may bring a roommate/friend home with them). Sometimes, professors invite kids over for Thanksgiving/Easter/Passover. I remember one year cooking an Easter feast with my dorm floor. </p>
<p>Some kids even choose to spend summers at school, taking classes, doing internships or research. Housing is often free/cheap, since apts are rented on a 12 month basis.</p>
<p>^^^^^
yep - one of mine is 600 miles away - the airport is very small and flying is prohibitive. She didn't come home for Thanksgiving her first two years - not enought time and too far. She even stays at school for most breaks. Now she has a car - she always has riders to help with gas and it is easier.
After we dropped her off freshman year she has always carpooled to get home. </p>
<p>Anyway - just my own parental policy - I find a way for tuition, room and board and they have to work for the rest. Even books. </p>
<p>If your kids are really far - the travel may just be to much to expect them to come home for every break.</p>
<p>Majesa - Freshman can only borrow $3500 on their Stafford Loan max. There is a Perkins loan but you need to be really "needy" and it is usually for only a couple of thousand. No way can YOU borrow $10,000 unless you already have good credit established.</p>
<p>Anyway - just my own parental policy - I find a way for tuition, room and board and they have to work for the rest. Even books.</p>
<p>Our parental policy is the same--we pay tuition, room, board---he pays
for books and other living expenses. We do pay the interest on his unsub Stafford and his car insurance</p>