So you’re saying that although I might be offered admission, it won’t be the most affordable.
Let’s break it down.
My most expensive colleges are around 45k. So I minus the 33k that I can (hopefully) pay out of pocket. So 12k. My estimated FAFSA is around 9k, so I’m left with 3k a year that I’ll need to pay for using a private loan. I hope I won’t need one if my business does well or my parents offer to cover it, but even if I do, coming out of college around 40k in debt doesn’t seem to be considering that I’ll already have a business.
Even if I don’t get full need, it’s not necessarily unreasonable.
I’m taking back what I said about not wanting more colleges to add. I feel like I need to diversify my portfolio. Any suggestions?
You may get ZERO need based aid regardless of your FAFSA.
We changed jobs and opened a new business while our son was at school. Our EFC was so low, he got a Pell Grant. That’s the maximum need you can demonstrate. He didn’t receive a dime in other need based aid.
Again: the NPCs don’t tell you your actual cost of attendance at schools that don’t meet full need and don’t provide (meaningful/any) merit aid.
No. Your most expensive public college (UMich) has a COA of $76k. You’re assuming it’s 45k from your NPC but that doesn’t mean that is your COA - because you will get $0 aid. And $76k minus $0 is $76k.
The private schools are more expensive but they do meet need, so you won’t have the same issue there.
UMich does not promise to meet the full financial need of OOS students like you.
They may provide a little bit - most likely as loans. Bottom line: UMich is going to be very expensive.
UIUC: as I’ve said in multiple posts - public schools will not meet the full financial need of out of state students.
The others you’ve listed will.
It’s an out of state public, so you will get zero need based aid. If they’re like Bama as you say, it’ll be merit money.
It’s not impossible, but it’s very improbable. If you do apply and don’t get the aid you need, you’ll be faced with the conundrum of an acceptance that stretches your budget, maybe to the point that it’s harmful to you and your family.
UNC and UVA are the only two public schools in the country that I’m aware of that will give need-based aid to out-of-state students, beyond any federal money that students may be entitled to (i.e. Pell grant and/or loans).
The max Pell grant is about $7400 next year, if you qualify for the max (source). The max federal loan is $5500 for your freshman year ($6500 your sophomore year, and $7500 for your junior and senior years). So the maximum “need-based aid” that you could get from an out-of-state public (outside of UNC or UVA) is less than $13k, $5500 of which would be a loan.
I would email an admissions officer at U. of Michigan and ask them what the highest level of merit aid is available, including for awards that are competitively awarded with extra application materials. If it isn’t at least $50k/year, then you should drop Michigan because it will be impossible to meet your budget. From my quick perusal of Michigan’s website, it doesn’t look like they offer any academic merit awards of that size.
You’re absolutely right @AustenNut
OP has substantial need, and to the best of my knowledge there’s no combination of need based and merit money from Michigan that will be sufficient. That’s why I put it in the “impossible” category.
Bama certainly is a great financial option. You self identify as South Asian. Please be aware Bama reports Asian as 1.54% of their population if that matters.
I don’t recall OP stating race was a factor in his decision. Regardless, most colleges will have far higher Asian representation than that of his home state.
Per ToS, debate is not permitted on CC and back and forth between two users needs to cease or be moved to PM. A number of posts hidden and responses deleted.
Since WVU will be a safety for you (for both, admissions and affordability) - would you be happy going there if all else fails?
Second, would you consider/prefer ‘Bama or Mississippi State over WVU?
As for the rest of your list, my suggestions:
Keep the elite privates that meet full need.
Remove the highly ranked OOS publics.
The gap to fill is target/match schools (those that are well regarded but not as hard to get into as your reaches) that will also be affordable. Perhaps other posters can suggest some.
If all else fail, then I’m going to WVU, but in the case where I get a lot of merit or I get into and elite private that offers a lot of aid, I’ll go there.
WVU isn’t bad, I’ve been there countless times for football, robotics, and my research. I also like the campus and its faculty, but it’s not my first choice.
This is great. So the only schools you should add are those that you would prefer over WVU AND that have the possibility of meeting your budget (whether through merit aid or need-based aid).
So in the sure thing, near sure-thing category, do you prefer any of these to WVU? If so, they can be in your extremely likely bucket. If not, off they go!
