<p>I just ran a preliminary FA check on H and P’s net price calculators. I was getting between 0 and 7k in FA (since I had to guesstimate I tinkered around a little bit). I feel that anything under 15k in FA would be very hard for my family to work out. I am going to get some external scholarships, but won’t these not change my EFC and just make my FA go down? Are these schools just underestimating their financial aid? I want to go to some of these schools and I think I have a good shot of getting in to one or two, but it would be a shame if I had to go in to unsubsidized debt to attend one.</p>
<p>I’ve been thinking about the admissions process for a while but only just started with the financial-side, so forgive me if I’m being dumb.</p>
<p>I already know my safeties. I just like these schools the best. Fwiw I am NMSF, basically guaranteed nmf, and for that UK will give me a full ride+</p>
<p>I know that I need financial safeties. I’m wondering if I can trust the NpC estimate, that’s all. I should have a more accurate estimate tomorrow.</p>
<p>If anyone of your parents is married/divorced/remarried, is self employed, or owns properties other than their primary residence (in particular rental properties), the net price calculators are not particularly accurate.</p>
<p>No. From what I’ve heard, that at those schools that comfortably meet full need, the formulas are as good as the info going in, is what I have been told. These things are new, so there’s no real track record that I can see, but there really isn’t game playing on this at the top schools. When you throw in schools that do not meet full need for everyone or have merit in the mix, that’s a whole other story.</p>
<p>My parents aren’t divorced, don’t run their own business, and don’t own rental properties. We have a high income, but when I enter the income alone we get some decent aid. I think the problem is our investments. I’ll have to get more accurate info from my parents, but even when I think I underestimate I basically lose all decent aid. I mean, it’s not like we are millionaires. </p>
<p>The third and fourth years would be better since my brother would enter college then. </p>
<p>I guess I’ll ask here: are there any third-party merit scholarships (either application, essay, speech, etc.) out there that I can apply to? I’m participating in Intel STS but that doesn’t pay unless you are a finalist.</p>
<p>The way it works with assets is that your parents get an asset protection allowance based on the oldest parent;s age and the number of dependents in the family. Anything over that other than sometimes the primary residence is hit at about 5.6%. The family home value over any mortgage is often capped at 1.2 or 2.4 times the income figure, though sometimes it is not counted at all, and sometimes no cap is given, and other caps may be used. </p>
<p>If a school does guarantee to meet full need, it generally will increase the amounts when a second student enters college. But a school that does not guarantee to meet need, may not give you another dime even when your need changes in future years. Make sure you are clear on what each school’s policy when you are putting your list together. I’ve known families who were outraged when they got a measily $500 more when the second student started college or were just given loans they were already taking, but some of it got subsidized. Or some work study money.</p>
<p>Those colleges, H and P, are among the most liberal for FA. With a low/0 projected amount your parents must have really high income and/or very high value of assets. Check with them about the assets. I don’t know if H and P count assets that are in retirement accounts but they might.</p>