I’m just looking for a rough estimate. I transferred to a nescac school that has a 100% need based policy during the middle of my freshman year. The school gave me a $20,560 grant for the second semester. This was just barely enough and left me having to pay about $9,000 for that semester. This exhausted most of mine and my parent’s savings. Do you think my aid will be better when I re-apply for 2015-2016? I know it depends on lots of things and yada yada yada, but is aid for transfers generally lower - especially mid-year transfers? I’m just trying to get an estimate of if my cost of attendance for next year will be the same, higher, or lower than this year. I’m hoping it will be slightly lower as there will be more financial aid available to me as a true sophomore than there was as a freshman midyear transfer. Thoughts?
Oh dear. You should be discussing this with the school. I don’t think you can make any assumptions, I think this should have been discussed before you transferred so you would know if you could afford the school for all the coming years and not have to transfer again due to lack of funds. Did you run the NPC to see what it says? If you halve that does it approximate what your received?
When I transferred here I knew I would have to take out some loans, and I am fine with that. I’d just like to not have to take out too many. I did the NPC last night and it came out much better than what I received when I transferred in, so hopefully it comes out better for this fall. For this current semester the (cost of attendance) - (financial aid) = about double my EFC. I’m hoping it gets closer to my EFC, but as we know 100% need met school meet your need “as determined by the college”
Whoops, point of clarification, for this semester the COA - aid package = about my EFC. But that was only for one semester, hence why I confused it with double my EFC. The gap was twice as large as my EFC would indicate it would be
Talk to the financial aid folks at your college. There is no way we can answer your question.
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pay about $9,000 for that semester. This exhausted most of mine and my parent’s savings.
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If that exhausted the family’s savings, then that small amount wasn’t affecting aid. Unless it was mostly all your money
You need to ask the school WHY they calculated that a low income family should pay $18k per year for college.
Does your family have OTHER assets (lots of equity in a home), or does your family have a business?
Something isn’t right.