NO merit-based financial aid?

t-boneParent
Mon, 14 Jun 2010 13:21:14 +0000

Hi Shannabana,
My S is attending NU in the fall as an entering freshman. There is little to no merit aid and my son turned down full rides to 5 other state/private schools to attend NU (his reach school). We were thrilled with his acceptance to NU and that he is going there - it seems to be the best fit for him and his interests and talents. I was worried as a parent how we would pay the COA, but please have your family file the FAFSA and CSS profile paperwork during the application process - you may be surprised what you will qualify for. You can also go to college board website and use their simulator (it was pretty accurate for us) and you can get a “feel” for your parent contribution. NU’s parent contribution assessment was within $10 of our FAFSA EFC. The EFC seemed to run at about 20% of your parent’s gross income and the CSS Profile takes into consideration beyond that your family assets (after an asset allowance level is subtracted) and any other extenuating financial circumstances. I felt like NU was extremely fair and reasonable in what they asked us to pay. Thank goodness S received some outside scholarships that will keep us from having to take the loan out. Although, NU was the BEST college in terms of the amount of loan they put in the FA package. There was 3500 of Sub Staf loan and 2500 of work study (his outside scholarships have erased those). Be aware, though, that whatever EFC NU decides will be your expected family contribution - outside scholarships in excess of the loan/work study amount(s) will apply FIRST to their NU need-based grant/scholarship portion before any $$ will subtract from the parent contribution amount. That said - again, in our experience, NU was pretty accurate in their assessment for us - we will cover our portion with a mix of current income and college savings - not ‘cheap’ in terms of cost but is “doable” for our family.

YMMV… I did notice in another forum (“making a C”) you stated you have no need for financial aid, though, so I am not sure what advice you are looking for - but I am posting the above to also perhaps help others looking at NU. It is a AMAZING school and my family is thrilled about joining that educational community.