I do not think you will need to commit without actual real financial aid offers.
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Although some may have to put down housing deposits without a firm FA offer (where early housing commitments are a thing, because of limited supply)
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But housing deposits where housing is limited has always been a happening. Canât really blame this FAFSA mess for that!
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True. It would still be better if they looked at the original inputted financial numbers, and not just the outputted SAI.
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This is where things can get hairy. Thereâs a period of sorting as kids commit at one school, decline elsewhere and open up slots. Most schools have a lot of that baked into the cake but the numbers could be way off this year because aid could be dramatically different.
I know several families who arenât sure theyâll be able to swing it this year because the change in approach for families with multiple kids in school could make it impossible. They wonât know until later in the summer, as usual. So there are a lot of moving parts that need worked out in a matter of weeks instead of months.
Gonna be a train wreck.
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I would recommend they talk to someone in financial aid (especially if some of the kids are already in college) and run each schoolâs net price calculator. Many NPCs are accurate.
Summer is too long to wait. I think it will be well before summer for incoming first years to receive FA packages.
Families can also do the SAI estimator tooâŠthis calculator is accurate:
https://www.collegemoneymethod.com/2024-25-student-aid-index-sai-calculator/
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I hope thatâs true, as it would be ethical. I am a newbie to all of this and was mostly thinking of the emotional toll of thinking we can afford a school based on NPC, holding onto a dream, and then finding out NPC was inaccurate enough that we canât afford it. We are actively talking about Plan B, almost as if this were a waitlist situation, but feel like having some sense of whether a school is probable, possible, stretch, or impossible has less sting in February than the end of April. I am appreciative of schools who are trying to address this amidst all the extra hurdles they are facing.
Also, what happens if choice #2 doesnât move the commit date but choice #1 does and then choice #1 comes back with numbers way off from the net price calculator? It seems like schools are thankfully trying to address these questions.
Regarding housing, can veterans of this process advise how to approach the housing issue at schools that require an enrollment deposit to secure housing? Do you enroll at a financial safety, put down all deposits and then withdraw to commit to the first choice school if financial aid comes through?
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It might help to identify the schools you are talking about. First step is make sure they really require an enrollment deposit to secure housing. If they do, and itâs important to get in the queue for housing, then make those deposits. If your kid decides to enroll elsewhere, then withdraw from the first school (withdraw both housing and enrollmentâŠat some schools those things are separate), and commit to the second. Some deposits are refundable, some arenât. Ask/read the fine print before you make deposits.
Generally, you want to avoid having multiple enrollment deposits out there at the same time.
You can have as many housing deposits out there as you want/need.
Again, if you shared school names, you might get better feedback. Some schoolsâ NPCs are known to be more accurate than othersâ.
Note that NPCs may not be accurate if parents are divorced, own real estate beyond a primary home, or own a businessâŠare any of those the case for you? Many NPCs do not show merit $ either.
Regarding the difference in commitment dates, that is going to be an issue for many this year. Hopefully enrollment deposits at all schools will be refundable (but that wonât happen everywhere).
If you put down an enrollment deposit and then get a better offer from another school, just withdraw from the first school and commit to the new school. I donât think any school is going to require an enrollment deposit before they give you a final FA offer.
Does your student have any affordable acceptances yet?
Yes. Theyâve talked to them. What they are saying is, generally, donât worry about it. Or weâll work something out. But they admit they have no clue whatâs happening.
In one case they have two kids who specifically chose pretty expensive schools based on generous aid packages. Both kids shooting out the lights in terms of grades. So they were pretty close to getting full need met.
But now their EFC went from a family-wide EFC totaling under 30k, to one thatâs over $60k.
They donât have an extra $30k. And for the schools to get them where they were required aid $30k in excess of federally determined need.
Itâs not like itâs $2k, or something the kids can make up waiting tables an extra shift every week.
Itâs a legitimate crisis.
The schools have said they donât know how they handling the siblings issue?
Are they at CSS profile schools? Meet full need schools?
Many schools donât care what the SAI/EFC is.
Thank you for this valuable info! I think we will begin emailing housing offices.
Yes, we have several affordable acceptances at public schools where we expect zero aid or loans only from FAFSA. We have no special factors that you mentioned.
The three schools where NPC accuracy would be helpful to know are Chapman, USC, and U Miami. All three had generous need aid listed in the NPC, making net cost appear competitive with the public schools. Merit is only likely from Chapman.
I will start emailing housing offices. Thanks for the clarifications on deposits.
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Mom was told they have to wait and see. One told her they had developed a 5k grant for students with siblings in college. She said ok youâre replacing $30k with 5k. They said, well⊠just wait and weâll see.
Her daughter will leave for the summer without a number. She normally wouldnât if she was a returning student. But before this sheâd have an EFC and know how the school treated that. Now sheâs looking for apartments snd friends are looking for roommates and she doesnât know if she can come back.
Even if the school ponies up, are they in overaward? Depends what money the school tries to give her.
Will the more-poor kids getting more Pell give the school more institutional aid to work with?
They donât know.
If they did theyâd send her a package. They donât do they canât.
They have no idea what to do.
Federal Student Aid plans to send test ISIRs to schools by the end of this week. That will allow schools to begin testing their systems ahead of the actual receipt of student ISIRs (the schoolsâ version of FAFSA) next month. So schools will be able to get testing underway soon.
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Thatâs encouraging info, thanks for sharing!
Saw this in media. It says this will help fasten the process for colleges.
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FSA running some informational webinars for people next week, register here:
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The multiple kids in college issue is stressing me out as well. I have one who just finished undergrad last semester, but will be starting grad school in the fall, one who will be a junior at UCSB next year, and one who will be a freshman at a California school TBD once acceptances roll out. Itâs tough feeling like things are up in the air. I did the SAI for my freshman and the number was only a tiny bit higher than what the EFC for our kids was last year. Iâm hopeful itâs correct and the impact of removing the multiple kids in college factor wonât be a major issue for us 
**Got this today from Dept of Ed
Sounds to me like they messed up the SAI calculations and thatâs what the delay has been.
ââŠWeâre reaching out to share an update about your 2024â25 Free Application for Federal Student Aid (FAFSAÂź) form.
After submitting your form, you received a confirmation email stating that your FAFSA information would be shared with your selected schools in late January. However, weâre making further improvements to the Student Aid Index (SAI) calculation used by the FAFSA form to ensure students get all the federal student aid they are eligible to receive. Weâve adjusted our processing timeline to accommodate these updates, which means weâll start sending FAFSA information to schools in the first half of March.
Youâll receive another email after we share your information with your schools. You can also check the status of your form by logging in at StudentAid.gov and selecting your FAFSA submission from the âMy Activityâ section of your account Dashboard.
Once your schools receive your FAFSA information, they will determine your eligibility for financial aid and create financial aid offers several weeks later. A financial aid offer tells you exactly what financial aid youâre eligible to receive at a particular college or career/trade school. Most schools will wait to send you a financial aid offer until after they accept you for admissionâŠ.â
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I feel sorry for the financial aid officesâŠ
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