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Help this confused Mom please.......

1235

Replies to: Help this confused Mom please.......

  • Skippy00Skippy00 Registered User Posts: 223 Junior Member
    Is it too late for the questbrigge application? It says it's closed. Deadline for juniors was in March. Can we apply as a senior?
  • TTdd16TTdd16 Registered User Posts: 287 Junior Member
    edited April 16
    National College Match program for Questbridge is at the end of September. (Note: it's a very extensive application with many essays--it should be worked on early.) https://www.questbridge.org/high-school-students/national-college-match/how-to-apply (I'm not sure why it hasn't been updated for 2018 yet.)
  • scmom12scmom12 Registered User Posts: 2,970 Senior Member
    Even running NPC I thinking is still most important for you to come with a drop dead amount that you can spend. Then if you want to add the subsidized loan amount that your child’s can take ($5500 max freshman year) and that should be your target. I would dig deeper into each possible school about merit awards. Are they for all four years, what do you have to do to keep them, if merit went a away in year 3 (for ex) could you afford to stay there. You are smart to start looking at this early
  • Skippy00Skippy00 Registered User Posts: 223 Junior Member
    Can someone explain how Questbridge helps?
  • Skippy00Skippy00 Registered User Posts: 223 Junior Member
    Perfect! Thank you
  • Skippy00Skippy00 Registered User Posts: 223 Junior Member
    @scmom12 I wish I could rely on the NPC but everyone is telling me they won't be accurate because we are business owners.
  • intparentintparent Registered User Posts: 34,968 Senior Member
    I have an S-Corp. I plugged in the S-Corp income and the business assets as if they were my own personal income & assets in the NPC to get an idea. The actual aid turned out slightly better than that scenario, but only a bit.
  • Skippy00Skippy00 Registered User Posts: 223 Junior Member
    @intparent I don't know which line the S corp income is on on the 1120? Do you?
  • intparentintparent Registered User Posts: 34,968 Senior Member
    You should get a K-1 from the S-Corp each year that shows the pass through amount beyond the salary. But you may need to add some non-salary S-Corp expenses back into that as well.
  • thumper1thumper1 Registered User Posts: 71,769 Senior Member
    edited April 16
    How many people in your family? With $65,000 income plus your assets...you might NOT be Pell eligible.
  • ColoradomamaColoradomama Registered User Posts: 1,818 Senior Member
    On Quest Bridge, some colleges like MIT will note those candidates and give them some preference for interviews. All 40 schools on the Quest Bridge plan are looking for first generation college students, and cannot find enough. Quest Bridge is a way for them to find good candidates. Its also a vetting process, so I think it may be very helpful, if your son is interested in any of those 40 schools. (and he wants to fill out all their paperwork, and get recommended by them )

    As far as affordability, always apply in state, first to affordable schools. If Amherst does not look affordable for any reason, then add Dartmouth, or Lowell or Boston, just do it for a safety, or ask your son to agree to community college and living at home and transferring. Then look out of state for the best deals. . Small states like Kansas, Wyoming, Oklahoma, and Alabama have great financial deals and lower ranks . Its a wild card though for some of the very top awards at say Tulsa, or U of Oklahoma, and i believe your son is not a National Merit Finalist, which opens doors
    at the mid ranked small state school like Oklahoma and Tulsa.

    The 40 Quest Bridge/high stats schools are not safeties for anyone, so do not dwell on it, but just figure out if
    any might be matches. (Tufts seemed to be as I remember)

    Do not get worked up over any particular school as the "perfect match/dream" there is no such thing. . And its OK in my opinion to go for a financial REACH like Boston U, with an application to the full ride Trustee, if he wants. Why not dream, but just do not hyper focus on low probability options like Boston U. Sometimes students get lucky and get the full ride at Boston U. If he loves it TRY FOR IT. Again its going to be up to your son, though to pick and choose through thousands of good options. And writing many many essays for these full ride Trustee awards at BU etc.
    Those essay are tough!

    He will go to college, and if its U Mass Lowell, he will be fine. Tell yourself that every day, it will be fine. If U Mass Lowell, is not fine he can transfer to another college in one to two years as well. And you just saved a fair amount of money.

    Pick a financial SAFETY school and ask him to apply there as a safety. If thats Lowell, so be it. Bite the bullet
    and just do what will make the most sense for your financial situation.
  • sybbie719sybbie719 Super Moderator Posts: 22,168 Super Moderator
    edited April 21
    Op owns a business and the building that the business is house in
    Highly unlikely that they will be financially eligible for Questbridge.

    Financial Qualifications
    Finalists typically come from households earning less than $65,000 annually for a family of four, and often less. This is not a strict cut-off and we encourage students who feel they have faced significant financial hardship to review these financial details carefully to see if they may qualify.

    All sources of family income are taken into account, including:

    Salaries, wages, and tips
    Business and farm income
    Rental income
    Interest and dividend income
    Retirement distributions
    Alimony
    Child support received

    Students with divorced or separated parents must report the income of both biological parents, as non-custodial parent information is taken into consideration by our partners when determining financial need. The only exception is when the student has not had contact with the non-custodial parent for an extended period of time.

    All assets held by the family are taken into consideration, including:

    Home ownership
    Business or farm ownership
    Cash and savings
    Investments
    Additional properties


    Individual household circumstances are taken into consideration, including:

    The number of people supported by the household income
    The number of students in college (undergraduate only)
    Unemployment or other changes to the household income
    Eligibility for free or reduced-price lunch
    Having been in foster care
    Other non-discretionary financial commitments, such as high medical bills
    Please note that Finalists will need to submit official documentation verifying their financial situation to the colleges to which they apply. A thorough financial review will be performed by QuestBridge and by the colleges for all students who become Finalists.

    https://www.questbridge.org/high-school-students/national-college-match/who-should-apply

    If op's son has leadership and lives in a city that recruits for Posse, that would be a better bet. For students who are accepted to Posse, they offers full tuition scholarships regardless of family income.

    https://www.possefoundation.org/our-university-partners/participating-schools/
  • Skippy00Skippy00 Registered User Posts: 223 Junior Member
    @sybbie719 ....we do not live in Boston.
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