<p>Below are net cost estimates from College Abacus, using hypothetical inputs for the following kinds of schools:
- an out-of-state public university (Illinois)
- 2 in-state public universities (Michigan State, UMichigan)
- 2 very selective, expensive private schools that claim to cover 100% of demonstrated need (Holy Cross, Boston College)
- 1 super selective, expensive private school that claims to cover 100% of demonstrated need (Chicago)</p>
<p>Assumptions
MI resident
$80,000 family income (all earned by the OP’s Mother, who is divorced; Father’s income unknown);
$1K Father’s contribution in first year of college
$0K in untaxed income
$60,000 in financial assets; $20K in cash/checking; $40K in investments
$240K current value of home (purchased in 2000 for $150K; $75K owed)
$8K paid in federal income taxes
$8K itemized deductions
2 children (including applicant; sibling aged 14)
GPA=3.9, ACT=30
Fall 2015 admission</p>
<p>Estimated Net Costs of Attendance
$47,995 U Illinois ($1,785 total aid, all in grants)
$26,208 Michigan State ($0 aid; in state)
$24,122 Boston College ($37,250 total aid, all in institutional grants)
$23,932 Holy Cross ($33,900 total aid, all in institutional grants)
$23,560 UMichigan ($4,300 aid; in state)
$20,200 Chicago ($42,600 total aid, all in institutional grants and scholarships)</p>
<p>Your Mileage May Vary
Note that these estimates do not account for the OP’s Father’s income. A divorced parent’s resources, home equity, and business assets are three areas that may be handled very differently by different schools.</p>
<p>If my assumptions are close to the OP’s reality, then in my opinion his best shot may be either at a private school that claims to cover full demonstrated need, or at an in-state public university. If the OP’s father’s income is counted, the advantage could shift clearly to in-state public universities.</p>
<p>Note that Holy Cross does not have engineering programs. Chicago has 1 new, unusual engineering program.
An ACT score of 30 may not be competitive for UChicago. It would not meet eligibility requirements for the University of Alabama full tuition Presidential merit scholarship (which requires a 3.5 GPA plus 32-36 composite ACT). 3.9 GPA + 30 ACT may be good enough for merit aid from a LAC like Hendrix or Lawrence (but maybe not enough to make these schools cost-competitive with Michigan State … and they do not offer engineering).</p>