Should I apply for financial aid?

mom2collegekids
Tue, 09 Aug 2011 03:28:34 +0000

*Is is true that if I don’t apply for financial aid this year then I won’t ever be considered, because my sister will enter college in two years and perhaps we will be eligible for some aid by then. *

Yes that is true for a number of schools. They don’t want people “gaming the system” by not applying for aid for YEAR 1 (to gain an admittance edge), then paying their entire college savings for that one year, and then qualifying for massive aid for YEARS 2 - 4.

Using various EFC calculators I’ve always had $0 in financial aid, but to varying extents.

What are your parents saying? Are they saying that they’re fine with paying $55k+ per year for various privates? If so, that’s good. Will they pay for more than that when you and your sister are both in school? If they aren’t fine with that, it’s good to know that now so that you can take that consideration.