How much F.AID could i expect ??

nycexsteve · 10-12-2008, 05:31 PM

so im planning on applying to around 9-11 schools right now, but im pretty sure i can cut that list down based on money..

my list so far:
Penn
Georgetown
UNC
UVirginia
UMaryland
Penn State
Cornell
UMiami
Boston College
Northeastern

i know many of the ivies (including Penn and Cornell) have that new financial aid program so that shouldnt be a problem, but based on your prior knowledge of these schools' financial aid/grants/etc., around how much aid could i expect as a student living in New York with parents income around 75,000? i know with the financial situation these days it may be hard to tell but any approximation would be nice

Erin's Dad · 10-12-2008, 05:43 PM

You should run one of the FAFSA calculators to see what you EFC is and compare to the cost per year. The fact you live in NY is, for the most part, irrelevant except for in/out of state tuition or if the school uses the Profile which may take into account house equity.

nycexsteve · 10-12-2008, 06:04 PM

Thanks yeah the only reason I said NY was so you knew that i was out of state for most of the colleges up there

sueinphilly · 10-12-2008, 06:47 PM

Out of state only matters for state schools, of which at least Penn State is on your list. Private school costs are the same for in or out of state students (costs for travel obviously will differ)

FinAid | Answering Your Questions | No Loans for Low Income Students
tells about how some schools are doing things

FinAid | Calculators | Expected Family Contribution (EFC) and Financial Aid
Fafsa only schools are more like the Federal Methodology
Profile schools will be more like institutional

the 'no loan schools' may have their own form or formula.