<p>All of the schools that I love are small, private LACs. However, most tuitions are about $48,000. That’s a less (but not much less) than what my family makes annually. My parents own a small business and are the only employees there; they work very hard.</p>
<p>I would love to go to one of these schools,and my father keeps encouraging me to apply and financial things will work themselves out with aid and jobs. </p>
<p>But is this really fair? I have a younger brother who will be entering college one year after me. And will we actually get enough aid? </p>
<p>Honestly, do people in my situation apply to these schools? My favorite is Vassar, and I just don’t know what to do. I’m also applying to UPitt, which is obviously much cheaper (in-state tuition), but really am not very attached to it. </p>
<p>Please, any input or advice is appreciated.</p>
<p>Have your parents help fill out this calculator, it will give you a ballpark estimate of what your EFC will be based on your family income etc. Wont be exactly what you will be eligible for but at least an idea</p>
<p>also I’d add do not get stuck on the “sticker price” of the school … what matters is what your family would need to pay. Samiamy’s advice is great … it’s the first step … understand an estimate of your family’s EFC (expected family contribution). Step two, talk to your parents to see how much of the EFC they are willing to pay (EFC’s are pretty harsh … it’s your parents call how they decide to spend their money). Third, investigate the financial aid at the schools in which you are interested. A lot of the most expensive schools also provide the best financial aid … often the bottom line cost for a middle income family like yours is less at some $48,000 per year schools than a lot state schools or other schools with lower “price tags” (because while these other schools start with a lower cost they do not provide enough aid to get your family as close to your EFC as others). (PS - while investigating financial aid at schools be sure to check out how much of their aid is typically given in loans).</p>
<p>Don’t forget that the EFC number from FAFSA might be different than profile. Profile will disallow some of the deductions for small business. The EFC is not just income, the assets play a much bigger role.</p>
<p>You might want to try college board’s EFC calculator.
As for us, Finaid numbers came out to be very unrealistic for EFC when computing for instutional method.</p>
<p>Just make sure that you apply to a RANGE of schools. (Which it sounds like you are trying to do.) You want to be sure that come May 1 you have one that you can afford for all FOUR years, without enormous debt.</p>
<p>Make sure that you check to find out the colleges’ financial aid polices, which you can find on their websites. Some colleges guarantee to meet 100% of students’ documented need (Keep in mind that what you and your parents think you need may be far more than what the college thinks you need).</p>
<p>Also make sure that you have some financial safeties. Even though you love private schools, your financial safeties – schools that you know will admit you, and you’ll be able to afford – are likely to be 2-year or 4-year in-state public universities.You may be able to get some of the benefits of LACs by getting into the honors college or other specialty program at a 4-year in state public university.</p>
<p>From another of your posts, I see you plan to apply ED. That’s a bad idea since financial aid is a consideration. Remember that even if a school guarantees to meet 100% of your financial need, that could be by giving a very loan-heavy package, and the amount of your financial aid may be far less than what your parents feel they can pay.</p>
<p>Amherst
Bowdoin
Davidson
Princeton (I think this is the smallest Ivy)</p>
<p>Note that your parents will usually be asked to pay roughly 20% of their gross adjusted income.</p>
<p>Yes, apply to a wide variety of schools. Include a few where you are in the top 25% of the applicant pool and which offer merit aid.</p>
<p>Also, I agree that applying ED is a NOT a good idea if money is an issue. Early action would keep your options open. You can be happy at many schools, so don’t get fixated on one. Be a wise consumer of higher education.</p>
<p>Check out: [Colleges</a> That Change Lives](<a href=“http://www.ctcl.com%5DColleges”>http://www.ctcl.com) for LAC which offer merit aid. Add a community college honors program as your ultimate safety.</p>
<p>Williams recently eliminated student loans from their aid packages.
I hadn’t heard that Bowdoin has. The Bowdoin website says that the average student contribution per year is $7,000, including $4500 in loans.</p>
<p>Yeah, ED was in the ballpark a while ago, but isn’t anymore. </p>
<p>I know I should have done more research about financial aid to college (starting last year at least) but for some reason I always pushed it to the back of my mind. Now that it’s “judgment time” i’m starting to panic. </p>
<p>The schools I generally really like are schools like Vassar, Oberlin, Conn College, and Wesleyan (all reaches except maybe conn which could be a fit). Can anyone suggest schools that could offer me sufficient aid that is somewhat like those schools? I’ve heard something about a St. Mary’s in Maryland, but it sounds REALLY rural and I’m not sure I’d like that. </p>
<p>Any suggestions? Thanks for your input thus far.</p>
<p>In what state do you live and what are your stats? Probably your best bet for excellent financial aid is an in-state public where your stats are near the top of their admits.</p>
<p>Female, public school 3.98 weighted GPA (i’m really not sure about unweighted but I’m a solid B/B+/A student in honors and APs, except for one unfortunate C+ last year in Pre-Calc).</p>
<p>SAT: 690 CR, 530 M, 690 W –> Retook in Nov and I think I went up significantly, at least 100 pts in math and possibly a few points into the 700s for reading and writing. </p>
<p>ECs:
-Environmental Club (10-12) (President 11-12)
-Thespian Troupe (Secretary) LOTS of time spent on school theater productions (9-12)
-Yearbook (11-12) (Photography Editor 12)
-Chorus (9-12)
-Newspaper (9-11)
-National Honor Society
-Volunteer tutor at Elementary School, about 50 hours (11)
-Volunteer at library (12)
-Worked at a food store (about 12 hours/week) (10-11)
-Currently work at a Veterinary Hospital as an aid (roughly 7 hours/week)
…basically, I’m always at school. Teachers see me and go “do you even ever go home??”</p>
<p>ALSO about the ED…the reason I was (and parents still are) considering it is because my guidance counselor told me if the aid wasn’t enough, we could back out. Plain and simple. But I realized that must be oversimplified because why else would everyone complain that ED is only for affluent people? </p>
<p>Probably your best bet for a financial safety is a Penn. public college, preferably one that offers an honors program or other option that would help you get small classes. I don’t know enough about Penn. colleges to help you, but if you post on Parents Forum, you’ll probably get good advice from some posters who know your state universities.</p>
<p>Why do GC’s tell this to students?? When you make a decision to apply ED, you are basically telling a college that you will accept an offer to attend if one is given to you. when you apply ED, you know the costs of attendance…and you should also have good estimates of your family’s ability to pay these costs. If you can’t meet the costs…don’t apply ED. If you are accepted, you are supposed to withdraw any other applications. Remember the COLLEGE figures out your finaid and this is based on a lot of information. The reality is that you should not apply ED if you have financial considerations. Others here will tell you that need based financial aid packages can vary wildly. You should place yourself in a situation where you can compare your aid packages…not in a situation where you really are obligated to choose only one.</p>
<p>Do you have any safeties? There are a number of small liberal arts colleges in Pennsylvania, and if that SAT math comes up, you could be very competitive for merit aid. With your current SAT scores and GPA, you could receive a full tuition scholarship at King’s College in Wilkes-Barre for example. Granted, that’s not Vassar but it could be an option you want to include just in case. If you are satisfied with in-state publics as being affordable and acceptable then it’s less of an issue. I’d suggest adding another one besides UPitt, some people were surprised to not be admitted last year.</p>
<p>I agree with MomOFour. Right now I don’t think you’ll get merit aid at any of the schools on your list. There are lots of nice LACs in Pennsylvania and Ohio that are much more likely to give you money. Pennsylvania: maybe Juniata, Ursinus, Allegheny. Ohio: Denison (I like!), Wooster.</p>