Schools known for good merit aid

[curmudgeon]

They told me his GPA wasn't as competitive as the other kids. I'm trying to show them the side of my son they don't see through the stats.

Let him have those conversations. If you keep talking he's deader than a duck. There is a place for parents in a financial aid discussion. Trying to sell them on "the side of my son they don't see through the stats" ain't one of them. JMO.

[Chedva]

jamgee, you might want to start a separate thread on this topic; you'll get more information.

I'm thinking some of the kids who got the scholarship may not go to the school, in which case, there maybe additional funds available.

While kids do turn down schools with merit aid, that aid is rarely offered to other students. Schools offer more scholarship money than they actually have, estimating the number of students that will turn them down, just as they do with admissions. Even if there is money left over, that money generally just goes back into the investment fund for the following year.

[mamom]

I agree with previous posters, the schools offer more money than they actually want to give out knowing a certain percentage will not accept. Also, your son should be the one doing the talking/campaigning. Perhaps he can talk to his GC and see if there is anything s/he can submit at this time to suppliment the original rec.

[cptofthehouse]

Jamgee, if you are still trying to negotiate, I want to suggest that you talk to your son's school counselor. My friend's daughter who did not get the package she wanted and really needs to go to her school has discussed the situation with her counselor who is talking directly to the school. It looks like there will be some give.

I know that private schools often have that situation when they do not weight courses, or have a population that is high achieving. In those cases, the counselors at those schools are pretty skilled and experienced at explaining the situation. I know for certain scholarships, many private schools need to have an attachment from the counselor because of depressed grades.

Be aware, however, that it does not always work. UVA, for example, has refused to budge for our school. There has been dialogue a number of times. But sometimes a school will listen.

My son had his merit award doubled when he spoke to his school. Still wasn't a huge amount but that and an independent scholarship made the difference. It's worth the shot.

[MizzBee]

Just saw the tax information that has been posted for the merit aid. Unfortunately parents may not claim the child if child makes more than $3650 or if the parent did not provide over 50% of their support. If the merit aid covered room, board, books and tuition, most parents can't claim the children. However, many of the tax breaks are disallowed for the child if they are filing a separate return. This is one the the things that the IRS is looking at this year in detail.

[ALockwood]

I agree -it's definitely worth a shot. Many parents don't bother taking the extra step.

My advice is to focus on the school's perspective - what it wants - not your needs. The admissions office wants to add to the quality of its student body with high achieving, intellectually curious, diverse kids who say "yes" when they are admitted (the "yield.")

If you can cite specific characteristics and achievements of your child that would augment your appeal. Telling them that your child will attend if they can goose their award to you is also something they should know about.

- Andy Lockwood

[anxiousmom]

or if the parent did not provide over 50% of their support. If the merit aid covered room, board, books and tuition, most parents can't claim the children.

. I believe that the college amounts are removed before considering issues of support. I don't feel like digging for this info, but it's out there somewhere....

[MizzBee]

College amounts related to room and board are generally NOT removed, just as government assitance for low income housing and food stamps are considered for head of household and support issues. The IRS sees this as a third party (in this case the government, school outside scholarship) as providing the support, not the parents. Another tax issue comes when the student gets the loans in their name only so even if the parent pays a significant portion, then 50% support barrier can't be breached adn tax breaks are lost. It is often better for parents to cosign on loans so that they can get the full tax break.

[netthreat]

For many public universities, getting a good GPA (3.5 +) and good SAT (1300+) scores will get you the instate tutition rate at many public universities.

[sk8rmom]

I believe that the college amounts are removed before considering issues of support. I don't feel like digging for this info, but it's out there somewhere....

IRS Pub 501. http://www.irs.gov/pub/irs-pdf/p501.pdf

MizzBee, from what I've read in IRS publications it seems that non-taxable merit scholarships are not considered support (ie. tuition and required fees/course materials) and the $3650 does not apply to qualifying child exemptions, only qualifying relatives. I believe the taxable portion of scholarships (room, board, etc) does apply to the support test, as do student loans. I'm not sure that co-signing would accomplish anything as the loan is still in the student's name. Parent Plus loans would be in the parent's name and would count as parental support.

[MizzBee]

signing on as a cosigner shows that you "have a dog in the race", as it were. I had two clients this year that were audited and lost because their children received full financial aid and made too much in work study. Because even the student loans were student only (no parental signatures), the parents could not claim that they provided over 50% of the child's support. That is all that I am saying.

[kristinehintz]

I point families in the direction of MeritAid.com (where you can plug in a school and get its merit scholarship information) and Kiplinger's Letter which has best college values (for public univs, private univs, and liberal arts colleges).

[nicollec]

I know your post is from 2005, but I am curious where your son ended up going, how much aid he got and if he was happy? My D is a 4.0 (4.75 weighted) GPA, she will have 9 AP classes, all honors Math, and Spanish 4 by graduation, a 35 ACT 1490 math/reading 2280 total SAT 11 on the essay and probably a National Merit finalist. She has some EC but nothing outstanding, some service hours, again...nothing outstanding. We too are in that lost middle class that will get no government $. I am hoping we can get merit $ but D really wants to go to a school with a really tough curriculum, which means she will be up against a lot of well qualified people.
Right now she knows we can not afford an ivy, but has no idea where she wants to go (she is a junior.) Any advice or words of wisdom would be greatly appreciated!

[MD Mom]

I haven't looked at this thread for ages, nicollec, but we were in the same situation last year (financial purgatory, I call it). DD is at Pitt (on a full tuition scholarship) and loves it. Pitt has a great endowment and gives good scholarships to top kids; my D had similar numbers to your D.

Many state schools do offer aid to NMF and some are full tuition, room and board. DD was not interested in any of the schools that sent her information. Your daughter will find that if she chooses a challenging major, she will have many schools from which to choose. There are many, many fine programs nestled into large state universities; the trick is finding them.

I notice that often when people ask on this site about programs, the most famous (and most expensive and elite) schools are often mentioned. What we did, which really helped my daughter, was to visit schools and have DD talk to professors directly. For example, she visited with professor of slavic languages at Georgetown, and she was given all kinds of information that a tour guide or admissions rep would not know.

[J'adoube]

University of Chicago used to offer a full tuition (to about 20-25 students) and a $10k award (to about 100 students). This for a class of around 1300. This year we noticed that in addition to those awards they started to offer $5k awards too. For NM they offer $1k/year for the people that do not qualify for FA and $2k/year for those that do. Awards to students that decide not to attend are not recycled to other students.