I’m applying to transfer to some schools and I was wondering which schools offer the best FA. I’m aware that many of them are “full need” but when I use the net price calculators, I’m getting wild variations on the estimated financial aid. Better schools with good FA and reasonable transfer acceptance rates that I’ve found are listed below. Are there any others? I’ve seen lists for full need schools, but “full need” seems to be meaningless with the noted variation.
My financial info: 125-150k income, 500k liquid and investment assets other than retirement, parents age 50 years roughly, owns home, no business/etc.
Johns Hopkins: 5-20% range for transfer acc rate, estimated price just 20k (40k aid)
Cornell, UPenn, Vassar, Reed same as above
Example of wild variation: Wesleyan University. Full need like other schools, yet provides a net price of a whopping 40k–just 20k in need based aid.
Are there any other schools that have really good FA packages and reasonable acc rates for transfers? I’m obviously not looking for like Harvard, Stanford, or Bowdoin transfers, where acc rates are below 5%.
Oh, well transfers are different. Some colleges that promise to meet need for freshmen o not do so for transfers. Also the NPC is not intended for transfers, afaik.
I don’t think your estimated price is correct. It should be about 40k just based on your income and then assets factor in. 40k seems more accurate IMO.
ETA…this poster also has another sibling in college. That info sheds a different light onto this equation.
I’m not typing everything over again…but that being the case…$40,000 net price seems accurate. When there are two siblings…and the school is a Profile school (the above listed schools are), the spilt is 60%/60%. So it is very possible that the family contribution is higher than this student thought it would be.
The amount towards your family contribution for college JUST on $500,000 of liquid assets is going to be in the $28,000 range for FAFSA purposes (5.6% of the asset). The amount on $120,000 of income will be aabout $30,000 (25% of that $120,000 income). That equals $58,000 so $40,000 seems sort of low to me!
I would think your net price would be higher than $40,000 with $120,000 in income, and $500,000 in unprotected assets. And I didn’t add in any home equity.
You are a transfer…what has been your EFC up until now.
@thumper1 Two students in college though so only 60% of EFC for OP. So like @mom2collegekids said at some point. Around 30k for assets, around 40k for income (150k), then 0.6 times that for around 40k per year.