Cost Calculations

[thegirl1]

Hi everyone! I’m checking out different net price calculators at the moment. Does anyone have an idea of when they are updated? For example, Emory’s calculator says the annual tuition is $79k, but the news says it is expected to increase to $81k??

Also, I know that the costs are based on tax forms from previous years, but I’m curious in the general sense, have colleges adjusted their prices due to extenuating circumstances? For example, my family isn’t sure about job security due to higher-ups changing WFH policies (which isn’t possible since the company is in VA and we’re in CT) so my dad may lose his job within the next 6 months. Obviously, not planning to take the risk and ED until we get more stability- I’m just asking out of curiosity.

Lastly, I’m looking at this webpage when trying to figure out the new FASFA changes. Is this accurate, or am I being misguided? Also, do the new FASFA updates account for income tax(es)? The webpage says, “Another change that is overlooked is the elimination of the state and local tax allowance. In high tax states, this will cause a big decrease in financial need, to the tune of thousands of dollars difference in financial aid, especially for middle and high-income families.” So it is gross income that will be assessed, even if net income makes the SAI fall by $30k-$50k (a lot)?

Thanks!

[tsbna44]

A school cannot change someone’s aid based on what ifs.

If it’s not affordable currently, then assume it will stay the same.

If something changes you can appeal.

But maybe my dad will lose his job is not basis for change.

You should be applying to schools that will be affordable, whether or not your dad loses his job. Therefore it may not be schools you desire. But that’s secondary to affordability.

Good luck.

Ps - CSS schools like Emory will use the CSS form. FAFSA is required but it won’t be the basis of your aid determination.

[thegirl1]

@tsbna44

But maybe my dad will lose his job is not basis for change.

You should be applying to schools that will be affordable, whether it not your dad loses his job. Therefore it may not be schools you desire. But that’s secondary to affordability.

Yes, I understand. I’m was just wondering what would colleges say if that actually happens, not maybe, because at this point it is close to being confirmed within the next 6 months, amid application time.

Also, thanks for differentiating CSS w/ FASFA!

[skieurope]

@thegirl1

I’m was just wondering what would colleges say if that actually happens

The FA office won’t deal in “what ifs.” They’ll simply say to contact them if the situation changes.

[tsbna44]

Each will be different.

They’ll use the old tax return.

Some may bend but there’s no assurance.

You need a hard budget and to ensure you apply to two schools that are affordable and safe.

Don’t count on job loss as a savior.

[Mjkacmom]

I’ve had kids in college for 10 straight years now, expect about a 4% increase each year from many.

[thegirl1]

@tsbna44

You need a hard budget and to ensure you apply to two schools that are affordable and safe.

Don’t count on job loss as a savior.

I don’t think a job loss is a savior Otherwise, I wouldn’t be as concerned about financial changes.

I do have two affordable safeties, UConn [in-state]and SUNY Binghamton (I’ll get lots of financial aid from them according to my counselor due to AP Credits/merit aid as my GPA is much higher than the averages).

[tsbna44]

Ok great - so both are affordable even with job loss ?

Are you a CT resident ?

[thegirl1]

Yes to both questions.

[Mjkacmom]

I’m guessing he thinks you will get merit aid since that’s for great stats, financial aid is for financial need, two different buckets.

[twogirls]

Are these schools affordable without merit aid (just in case)?

[thumper1]

@thegirl1

Does anyone have an idea of when they are updated

Usually sometime in August after they have set the new tuition rates.

@thegirl1

I know that the costs are based on tax forms from previous years

When you do your financial aid forms, you will use prior prior tax year data. So for the 2025-2026 academic year, the 2023 tax year is used.

@thegirl1

so my dad may lose his job within the next 6 months.

If your dad loses his job, you will do a special circumstances request…make sure you have all the necessary documentation from each college.

@kelsmom might be able to explain the tax info you are reading.

[kelsmom]

Federal income taxes paid are still considered in the FAFSA formula to determine the SAI. There is no longer a state income tax allowance. There are a number of changes to the formula effective 2024-25, so it is pretty difficult to say what effect removing the state tax allowance actually has - since other changes might offset this change.