Financial Aid Packages

I have no interest in Alabama or Pitt. And I also don’t know my EFC but I think it is somewhere from 20,000 to 30,000.

Pick a few schools that meet full need and try the NPCs. The number that you get once you finish is an approximation of what you will be expected to pay (there are exceptions depending on your family circumstances).

For example, if OOS tuition for UVA is $50,000 a year and room/board is an additional $15,000 a year (I am just plugging in numbers, I didn’t check) that makes the total cost of attendance $65,000 a year. If the NPC comes up with $25,000…that is the number (approximate) that you will be expected to pay.

Here is my suggestion…besides the SUNY schools…which by the way should be high on your list.

  1. Try the NPCs for schools that meet full need. This number may vary from one school to the next.
  2. Look into schools that may give you merit: Alabama, Ohio State (maybe), Pitt (maybe), U of SC (maybe).

I’ll stick my neck out. Room and Board are typically less than $20,000 a year. If that is your family contribution, then you won’t be getting need based aid to cover that $20,000…

You might get merit aid. Which SUNY schools would give you merit? Buffalo might…not sure about Bing.

You wrote this:

Are you sure? Look at the eligibility for the Excelsior award. It is for families with incomes below a certain amount. If you are eligible, the SUNY tuition costs would be covered…and your parent contribution of $20,000 could cover your room and board costs.

@sybbie719 any help here?

So most likely no matter what happens I have to pay room and board right?

I think the OP will get some merit from Buffalo…based on what I have observed. I also think this student will make honors. Binghamton will not give merit.

OP can you give us a firm number that your parents can pay? Try the NPCs and see if the number is affordable.

Pitt is an outstanding school, and Alabama has a lot of OOS students who attend because of the generous merit. Again…try the NPCs. It will be hard to get enough merit in the northeast to bring the cost down to less than $20,000.


Did you read my response?

If you qualify for the Excelsior award, your tuition will be covered…and any remaining costs at a SUNY should be able to be covered by the $20,000 you think your parents can contribute annually.

That fits your budget.

You aren’t open to places where you could get aid to cover additional costs…well…unless you plan to apply to some generous colleges that meet full need for all. At your income level, schools like HYPSM etc would likely give you decent need based aid…if you get accepted.

What are your criteria…so folks can make suggestions that might actually meet your standards?

$20,000/year maximum. And Alabama is not happening.

Some schools have merit awards that cover tuition. Other schools have a need based FA award that covers $xx toward the total bill, and that might pay some r&b or might not. Some schools with full rides (for example, for NMF) cover everything, including R&B. My daughter had some awards that could only be used for tuition, so her school applied those first and that left some of her merit award that could be used for r&b.

In NY, the excelsior only pays tuition.

Excelsior only covers tuition, not room and board? And forget criteria I have most of my list down already, but thank you.

Got it, thank you.

I will try to answer your room and board question:

Thumper is right about SUNY. If you qualify for Excelsior then your tuition would be covered. You would have to pay for room and board…it appears that your parents can pay for that. Buffalo is an outstanding option.

If you use the NPC for schools that meet need and come up with a price tag (approximate) of $22,000…that is your cost. There is no distinction between tuition and room/board. The NPC is based on the total cost of attendance.

If you are looking for merit, you will need a full tuition scholarship …or close to it…in order to get the cost down to what your parents can pay. It is very hard to find this type of merit in the northeast. You have to be willing to expand your geographic preferences…and even then it can be tricky.

Look at the U of Miami. My friend’s son got one of the huge awards and is having an amazing experience.

Thank you, this was all very helpful. Does Buff a good undergraduate business program (specifically finance)?

I know students who recently graduated from the business school at Buffalo ( don’t know the specifics) and are now employed in their field, living independently.

So it’s definitely a good safety school for me. Any other good undergraduate business program that have an acceptance rate of 45% or higher and are relatively affordable?

SUNY Albany is the “business” campus and you’d make honors, meaning that some of R&B may well be paid for.

Is Albany or Buff a better school? Which has a better reputation? And which has better job prospects/placement?

Buff is better known for Engineering and Albany for Business and government. However both have roughly the same level of reputation.

Temple in Philadelphia has a good business program, so does Ohio State and Miami of Ohio, and Pitt, all of these might give you merit.
Apply early.
Don’t be like the many students that face the reality in April of senior year of not being accepted to the schools they like or not being able to pay for the schools they were accepted to.
You have great stats, apply to some of the aforementioned schools and see what you get.
It’s good to have options.

Nick, it’s very simple. If we’re just talking about NEED-BASED aid (not merit), financial aid is awarded based on your ability to afford the cost of attendance (COA). COA includes tuition, room, board, mandatory fees, books/supplies, and personal expenses. For every college in the U.S., those are the components of COA. Need-based financial aid does not distinguish among these various components. They just determine – based on their own formula – what your family can afford to pay.

The second thing you need to understand is how universities bill you. You don’t get a bill for tuition and then a separate bill for room &board. You get one master bill from the college that will include tuition, room & board, and mandatory fees. The other components of the COA are paid by you on an as-needed basis (with your own money or with financial aid funds that are provided).

Merit is a different story. You can get a flat-rate merit award, such as, say, $25k. It doesn’t matter which components of COA it covers. It’s $25k toward your COA overall. Some colleges structure their merit as full tuition or half tuition or “full ride” (which can mean total COA or total of tuition, room, and board).

I gotchu, thanks.