How much will my grant decrease?

Paying for College
1

<p>I am entering as a freshman in college next year when my two older brothers will continue to be in college, one as a junior and the other a senior.</p>

<p>From a well known LAC, I received a fantastic grant that my family can afford to pay for my freshman year. However, in my second year in college, my oldest brother will have finished his undergraduate studies.</p>

<p>The grant will most definitely decrease in monetary value.</p>

<p>My question is. How much will it decrease?</p>

<p>This is addressed to those parents out there who had the situation of 3 children in college and then 2. How much did your grant decrease? I know it varies by school, but a rough estimate would be helpful.</p>

<p>Thanks all. Colleges are truly a money-making business.</p>

2

<p>Your parents will be paying the same amount no matter how many students are in college. If your family EFC total is 30k, your parents will be expected to contribute 10k to your education first year, 15k second year, and 30k third and fourth year.</p>

<p>With a 50k price tag and 30k total EFC and 7k self-help, you should receive 33k in grants first year, 28k second year, and 13k third and fourth year.</p>

3

<p>how are they paying the same amount? You just wrote they would have to contribute 10k one year, 15 the next and 30 the third and fourth year.</p>

<p>My parents would obviously have to pay more each year.</p>

<p>the total cost of admission stays constant, but the ratio of parent contribution and grant changes.</p>

4

<p>Sorry I wasn’t clear</p>

<p>This year, if EFC of 30k, parents are paying for 30k for 3 students, or 10k each.</p>

<p>Next year, parents pays for 2 students, or 15k each</p>

<p>Year afterwards, parents pay for 1 student, or 30k.</p>

<p>This is using federal methodology. Individual schools might calculate differently, but the concept should be the same.</p>