Is College Board's Institutional Methodology good indicator of CSS Profile?

Paying for College
1

<p>Based on IM, it looks like our EFC would be around $22,000. We’ve encouraged Junior D to focus on schools that meet full need without loans or limit loans. Is this realistic?</p>

<p>(Her PSAT should qualify her for NMSF & her grades are in top 3%. We will insist on some financial safeties & are visiting schools listed as generous to NMF. Right now she’s in dreamland and thinks she will get a great scholarship to non-ivy prestigious universities. Top dream is one of the Claremont Colleges. We’re hoping that she can get into a strong LAC for around $22,000 if she sticks to the schools that meets full need w/o loans.)</p>

2

<p>It depends. Each school uses the CSS profile info with their own formulas. Do you have a lot of home equity? some schools expect you to use more of that. Do you have any other unusual situations…such as owning your own business or large amounts of assets?</p>

<p>We’ve encouraged Junior D to focus on schools that meet full need without loans or limit loans. Is this realistic?</p>

<p>There aren’t many of those and those schools seem to be the most selective. Applying to some is fine, but to limit to only those schools may mean that her only acceptances will be to safety schools.</p>

<p>Her PSAT should qualify her for NMSF & her grades are in top 3%. We will insist on some financial safeties & are visiting schools listed as generous to NMF. Right now she’s in dreamland and thinks she will get a great scholarship to non-ivy prestigious universities.</p>

<p>These schools get a TON of apps from NMFs so your D’s SAT/ACT scores would also have to be top/top to be in the running for great scholarships at non-ivy prestigious univ’s. Some of these schools don’t award many, and sometimes reserve them for highly desirable students…such as high stats URMs, students from unusual states, students with amazing ECs/hooks, etc.</p>

<p>And, if these are full need schools, then getting a merit scholarship may not mean anything. What good does getting a $20k per year merit scholarship at a full-need school when your need is over $30k? </p>

<p>What are her SAT and ACT scores?</p>

3

<p>I think your strategy is excellent. Just make sure that you include some financial safety options as well. This forum is filled with kids who were accepted to schools that their families can’t afford. It’s alway nice to have some choices that want you and are affordable. My son is basking in that situation right now. He’s surprised and upset that so many of his friends are stressed and upset because they are backed into a corner with undoable options.</p>

4

<p>SAT scores come out next week. I will PM you her score and our finances once we have SAT</p>

5

<p>Just FYI - the Claremont Colleges (at least Pomona and CMC) do pledge to meet need with no loans regardless of income. Additionally she can get $2k for NMF which would count towards the “student contribution”. These schools shouldn’t be considered safeties but their financial aid is great for admitted students. There is a FA net price calculator on CMC’s website to give you an idea.</p>

<p><a href=“Net Price Calculator”>Net Price Calculator;

<p>This is pretty accurate for this school only. You may want to look at the promises some schools have made regarding financial aid here
[Project</a> on Student Debt: Financial Aid Pledges](<a href=“http://projectonstudentdebt.org/pc_institution.php]Project”>http://projectonstudentdebt.org/pc_institution.php)</p>

<p>Good luck.</p>