If our EFC turns out to be 30k, would Penn State and Rice each assume the EFC for them is 15k?
<p>Ok, if your current FAFSA EFC, then each child’s EFC will be about $15k, but you won’t get anymore money from PSU. You’ll still be full freight there. </p>
<p>And, as for Rice, they use CSS Profile, so they use another formula, and they don’t split 50/50. They split 60/60. So, if they figure that your family contribution is $35k for one student, they might say that when you have two in college, the amount that you’ll pay them is $18k</p>
<p>So, there’s a large possibility that you’ll be paying full freight at PSU plus maybe $18k for Rice.</p>
<p>TBH, that isn’t a good idea. You could end up with no affordable schools for Child #2 because the total for both kids is too much.</p>
<p>Your post sounds like you could be facing an unaffordable situation…It sounds like you’re expecting aid from PSU once you have two in school, and that’s not likely going to happen. PSU is notorious for little/no aid beyond Pell…and your EFC is way too high for Pell. </p>
<p>This situation reminds me of a dad who posted about a year ago. He let his first D go to UIUC because he thought that when his S started college, they’d get aid from a splitting EFC… But…once he ran the NPCs with 2 in school, he realized that he wouldn’t get any aid for either student…and he couldn’t afford to pay that much for both kids. So, then he had to tell his S that he had to choose a school where he’d get very large merit because the option of moving the D wouldn’t result in lowering her costs. He felt horrible because D got to go where she wanted, and he was having to severely limit S’s choices. </p>
<p>Run Rice’s NPC two ways…once with 1 child and once with 2 kids in college. (However, if your child has a NCP or you take business deductions, then the NPCs will not be accurate. Also, run PSU’s NPC with 2 in college. </p>