My kid is a BU grad class of 2007. He received a great merit based award. He received NO need based aid at all. Cost of attendance went up about 4-5% a year while he was a student. His merit award remained the same.
When his sister was a freshman, he was a senior,somwe completed the financial aid forms…fafsa and Profile…again because our “situation changed” (we had two in college). The BU kid’s EFC per fafsa dropped from over the cost of attendance to $22,000.
The school increased his merit aid by $250 for the full year. He received NO need based aid. Ever.
Oh…and we got selected for verification annually as well…because our kid took out the unsubsidized loan…so completed a fafsa.
BU is a great school, and our kid is a proud alum. But really…it’s not a bargain. They do NOT meet full need for all. Lots of students with gaps between aid and cost of attendance.
I agree…have money in the bank…because it is highly likely you will need it.