Parents Refusing to Discuss Finances

Giving you kids a budget, and the information that there is likely to be no need-based aid is fine, as it provides all the necessary information. But for most students that’s not really the case - they need a sense of both the family budget (or at least willingness to pay), and a way of knowing whether the school is likely to meet any need. If you tell you son you can afford $30,000 a year and he’s applying to schools where the COA is $75,000 he needs to know the net price.

It’s all good and well to not want to share the financials with your kids (whether to keep them from knowing how bad it is, or how frugal you choose to be), but there is a point where that information is vital to selecting schools. Even more so with private schools that consider more than just the basic information. While Yale and JHU and others do their best to meet need, their need formula is based on an institutional formula, not just FAFSA