to apply to colleges where the NPC still shows upwards of $10k remaining cost? Is it ever even possible - if my daughter is on the high end of the college’s stats - that they would make up that large of an amount? We are stuck between being high financial need, average gpa/test scores, and needing a very specific program (direct admit nursing).
^You can’t afford this school; unless the parents borrow.
How about the nursing program at your CC?
The waiting lists are years long at the CC. She’d be able to do a year’s worth of pre-req’s and then wait upwards of 3+ years to get into just for ADN. It’s a possible option but isn’t a plan that is ideal for her as a student.
I guess what I’m wondering about is preferential packaging for financial aid. If she is on the high end of the particular school’s stats would they ever find a way to make up the difference in what the NPC lists?
Only if the school really really want her!
So we should cast a wide net and see what shakes out in the aid offers, correct? There are several schools in the same area with the same direct admit style programs. I’m thinking that might be helpful if she is accepted to them all and can use that leverage depending on what they each offer for aid. There is also a non-direct admit school that nearly meets full need but is a stretch for her academically (thus the possibility of not getting into the nursing program). Finding the right strategy for our situation has been interesting, to say the least.
I was surprised by some NPCs that gave us a certain family contribution but when the official offer came, they did MUCH better than anticipated. Some, with S’12, were FAFSA only, some with D’15 were Profile/NCP schools.
So yes, in my experience, it’s possible.
That is encouraging @OHMomof2 ! We’ve already gotten two acceptances with merit aid higher than anticipated so I’m thinking it’s worth a shot just to see what the offers turn out to be. Even finding a financial safety school has been difficult for us (though truly CC would be the fall back financial safety option if needed).
What about her $4k in summer job earnings to help close the gap and modest parent loan?
Since she’s high stats, she should apply where her stats are very high.
Are the NPCs showing only grants? or are they also showing merit?
Are the net costs showing loans as well?
What are her stats?
And why is Direct Admit necessary?
A $10,000 net price with an EFC of $1,000 means that the ESC (expected student contribution) is $9,000. Meaning that they expect the student to use federal direct loans and work earnings to cover the ESC of $9,000.
Different schools have different ESCs, as shown in the net price calculators. Many (though not all) schools will apply merit scholarships in place of the ESC first.
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where the NPC still shows upwards of $10k remaining cost? I
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@ucbalumnus we don’t know if the OP’s “net price” already included student loans and work study.
Often when people report their “remaining cost” they mean after ALL aid is applied…including loans and WS
The NPCs are all showing merit, grants, student loans and work study included. The near $10k remaining for some of them is AFTER all of those have been applied and we cannot do a PLUS loan for much, if any (I still have high student loan debt myself).
Direct Admit is necessary because she is not the kind of student who will be able to easily qualify for a spot her junior year when the non-direct programs are accepting only 50% of the applicants a year. I’m realistic about her study habits and ability (3.5gpa/uw/24ACT) that I know she can pass her classes, but when the students getting the open nursing slots have upwards of a 3.8 and higher, she has no chance. She also wouldn’t fare well doing a year or two and then putting it on hold while she waits on a waiting list. We have such high financial concerns that she really needs to be able to come straight out of her four years with her BSN. I’ve had schools just poo-poo it and say she can get a psych degree and just go to grad school, but that’s too iffy of a road for her. If the CC wait lists weren’t so long, that would be a strong option but still require at least 5 years for ADN Rn to BSN vs. straight 4 of the direct admit programs.
That’s what I thought about the remaining costs…after student loans.
OK…where is she applying where her stats are high?
She already has acceptance to Carroll University (WI) and St. Catherine’s (MN) where she is average to slightly higher than average range for stats and has their NPC’s about $7-10k remaining. She’s applied to Berea (KY) and Capital (OH) where she’s right at their averages (and would be a financial safeties if she were accepted). St.Olaf (MN) a reach but a financial safety.
The schools we are considering where she is higher stats are Alverno, Cardinal Stritch (she’s highest at these two), and Carthage and Concordia - all of which are in WI, our home state but not near where we actually live. Their NPC’s range from $5k-$13.5k.
I’m using collegedata.com for the average admissions stats, if that matters or if anybody has a better option?
You could also use College Board
Look over the details of what’s included in the COA. There may be some wiggle room to cut costs.
Look at what the DIRECT school costs are…
Then look at books and see if there are ways to cut there (rent, borrow, buy used, buy online, etc)
Then look at personal expenses and travel…can those be cut?
How much can your DD earn/save over the summer?
What about Valpo? Do they still have direct admit? Do they give good aid? My SIL got her BSN there.
OP, you mentioned that she got some merit offers. If she is also getting need based aid, you need to know how the college handles that. Some colleges reduce the need based aid by the merit amount, leaving you with the same cost of attendance as before. The college websites often do not say, so ask.
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We've already gotten two acceptances with merit aid higher than anticipated so I'm thinking it's worth a shot just to see what the offers turn out to be. Even finding a financial safety school has been difficult for us (though truly CC would be the fall back financial safety option if needed). <<<
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What were the results of those schools’ NPCs? Do they ask for stats?
In the COA I generally take their word on the books/supplies estimate, though I know they can be done for cheaper, but I don’t want to short our expectations ahead of time. I do our own estimate for the personal expenses/travel because many of them seem much higher than reasonable. Valpo does have direct admit but I ran their calculator and it’s at almost $14k remaining.
My DD is a CNA so she will be able to earn a fairly significant amount over the summer if they give her the hours. However, does that then run the risk of reducing her aid even further when we file for the following sophomore year? Is there a sweet spot between earning enough to help out, but not so much that she actually hurts her future aid?
@ intparent, thank you for the heads up on the merit aid issue. I’m pretty much going off each schools NPC as near gospel (though some are still showing 2013 or '14 numbers, so that’s frustrating). As far as I can tell, they are all showing both merit and need based as a complete package, so I would hope our actual aid offers reflect that or better.