Does anyone know if full need colleges make any distinction between the EFC for a 2nd child in college who goes to a state u with lower costs and the EFC for the same child who goes to a more expensive private college?
What about if that 2nd child lives in the dorms at a local college vs living at home to save on costs?
How much detail does the full need college ask for in terms of a 2nd child in college? I have heard the EFC can go down 40% or so when 2nd child is in college, but are any of these other factors in play?
Agree with thumper. Some colleges have additional financial aid forms to fill out if a sibling is an undergraduate, that ask for name of the sibling’s school and other pertinent financial information.
This depends on the college. We have one kid at a school that meets full need. This year the sibling is at an in state public living off campus, and next year the sibling will attend grad school at an in state private. We are not yet sure where she is living ( dorm or commuting). Our EFC for the school that meets full need is not dependent upon the school that the sibling attends, where she lives, or whether she is an undergraduate or grad student.
Entirely school dependent. Some are simply more generous.
Some full-need are looking for ANY reason to give less aid, and If the sibling is attending an inexpensive school (low tuition, commuting from home, big merit), then it would make sense (to the school) to determine that the family contribution for child at pricey school to be able to afford more.
If the EFC is based on the amount of the disposable income and available assets, and the amount of disposable income and available assets is based in part on the cost of sending a student’s sibling to college, why shouldn’t it make sense to everybody (and not just the student’s school) that EFC will fluctuate depending on a sibling’s college expenses? If the student’s sibling is in college, but getting a full ride, isn’t it appropriate that the student’s EFC will be very close, or even the same, as it would be if there were no siblings in college?
I have two kids in your similar situation:
It is really based on your universities and income/EFC:
Child A
In-state at public uni,
lives off campus since it is cheaper.
She had to complete a form for Child B's school and have the Registrar, sign and stamp that form, certifying that Child A is a full time student at Child A's public school.
Fees remained the same.
Child B
Private
Lives in "house" dorm
Very Expensive school
Required forms from Child A's school.
Tuition and fees were reduced approximately ¼ the full amount, such that we still pay a huge amount.
In other words, the school determines your need, not the other way around.