My family income is just about $150k a year and my EFC is about $40k, but between me and my sister (who is a year younger) my parents will only be able to pay $20k a year. Should private colleges and universities like Tufts, Middlebury, and Hamilton even be on my list? Or should I focus on getting in to the CUNY honors program? I know that each school has different financial aid policies but mostly what I’m asking is are any of the top schools in the northeast (excluding ivy) like Colby, Bates, and Northeastern, going to possibly give me double the financial aid determined by my FAFSA?
Try running the NPC for the schools you are interested in. I am finding the results quite enlightening.
Many private colleges give generous need-based FA and/or non-need-based merit scholarships irrespective of income.
@GMTplus7 has it spot on. Look for schools that have solid programs that you are interested plus have generous merit scholarship programs.
@londondad I just barely have a 4.0 gpa and I have a 32 on the act, and have taken/am taking 6 ap classes (3 junior year and 3 senior year). I’m still working on my application and I think I can get in to at least one of my schools I mentioned before, but they are still reaches I would by no means be one of the top students there, I would be pretty average at Tufts, Colby, etc. Should I still pursue merit scholarships at these schools, even though my academics would not stand out much? I’m mostly looking to make myself stand out through essays, recs, and job experience/ecs, but I’m not sure these things could get me merit scholarships, even if they got me admitted
Did you run net price calculators with both you and sister = 2 in college?
You can try and see if you get merit from schools that offer it and your scores may qualify you or you are at the top of applicant pool.
But also apply to schools that your parents can definitely afford and schools with guaranteed merit for your stats that leave an affordable net price.
Unless a parent is self employed, the NPC are pretty accurate from my experience. It is worth applying to some private schools–you will get something (probably some type of grant and loan combination that will bring your cost down from 60K to 40K for the first year).
@mommdc yeah I did and efc has been better than it was on the FAFSA, so I’ll stay optimistic and focus on schools with generous aid.
and that’s good to know @redpoodles , I’ll keep that in mind and apply and just see if I can get any good offers in the spring. Thanks
I don’t know how you just barely have a 4.0 unless that is a WGPA?
You need to look for schools where you are comfortably in the top 25% for merit aid. http://automaticfulltuition.yolasite.com/
Yeah I madea mistake @ErinsDad, I have a 95 WGPA is what I meant to say. And alright thanks so much for this resource 
Are you running the NPC with ONE in college? That will tell your parents how much they’ll pay when only you are in college.
Are you applying to any schools that FOR SURE will give you large merit for your stats?
<<<
Colby, Bates, and Northeastern, going to possibly give me double the financial aid determined by my FAFSA?
[QUOTE=""]
[/QUOTE]
Not likely will those schools give you double the aid determined by FAFSA…not likely at all. Actually, these schools may give you LESS
And when your sister goes, they won’t split EFC 50 50…they’ll split it 60 60
@mom2collegekids no I’ve been running it with two but I’ll try it with one, and yes I’m starting to add more schools that have me in the top 25%.
And those are quite disappointing truths, I’ll just have to mostly apply to schools that are more likely to offer me large merit like you said, and will keep my eyes on the CUNY honors program as well. Thank you
If your parents are only able to pay 20K total per year(10K for you and 10K for your sister), then you need to focus on applying to schools which will leave you with a price tag of approx. 15Kish max. You are eligible for $5500 in federal loans freshman year, 6500 sophomore year, and 7500, junior and senior year.
Schools which only offer need-based aid will not be affordable for your family. Scrutinize the financial aid/scholarship information on each school’s website. They will state whether there are merit scholarships are available and the amounts. If it only offers need-based aid, move on. If your test scores/gpa are in the top 10-15% for attending students, you would have a a good shot at significant merit aid. Run the net price calculators, too.
Also be aware that merit aid does not usually stack on top of any need-based aid awarded to you, it usually replaces need-based aid you would otherwise be awarded. That $5500 federal loan is also included as meeting your need, and does not offset your family’s efc. You need to focus your attention on schools which offer merit large enough to exceed your need and get you to the price your family can actually pay.
My family was in the same boat, and the situation eliminated many schools from our daughters’ lists. They focused their time on schools which we fairly confident would be affordable with merit aid(one got a full-ride and one got full tuition). It is very time consuming and costly to apply to colleges that you can never actually afford. Many students focus too much of their efforts on applying to schools which their families cannot afford, or they never discuss finances at all until it is too late to evaluate more realistic options. You are ahead of the game in this regard and can focus on having some good options that will meet your academic and financial needs.
Your 32 ACT will get you full tuition at the University of Alabama, as well as other schools.
http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-to-automatic-guaranteed-merit-scholarships.html#latest
You also need to keep in mind that for your first year you will be the only college student in your family. It is the last 3 years you’ll benefit from two in. Be aware that your college will ask for verification of your sister’s enrollment plus how much she’s paying when the time comes.
The advice from erin’s dad re: find schools where you are in top 25% score wise is good. You haven’t indicated possible major but perhaps Dickinson or Lafayette. Both can be very generous. There are schools with full tuition packages. University or Richmond for example where you don’t apply but could be selected based on stats. Wasington & Lee and Tulane require seperate apps. All of these deadlines are early. Like december 1st.
We had twins so this was factored in from the get-go. But you might want to ask FA folks at schools you are serious about how having 2 in your sophomore year might impact aid. Also make sure you are aware of any GPA requirements to keep merit $$ in subsequent years.
Good luck. You sound like an excellent candidate and should have options come next spring.
I’m sorry if I misunderstood, I thought sister was already in college.
$150k income is middle class?
So middle class includes the 90th percentile?
Our schools didn’t ask how much we were paying for the other child in college, nor does FAFSA if I remember correctly. They only seemed to care if there were other children in college, not how much those colleges cost (unless it was a military academy). For one child I don’t pay much of the billed costs but her sister still gets credit for having a sibling in college. I’m sure some schools care (CSS?) but some don’t.
Both my kids’ schools did ask for both verification and how much aid. We did have to file CSS. I’m sure it varies from school to school. Just another of those small details to be aware of. We did find having 2 in at once made a real (positive) difference in aid.
The disconnect is that while a percentile ranking is linear, income is not. There’s a humungous range of income in that top 10%. A family earning 150k is not living the lifestyle of Bill Gates.