Twin also going to college financial aid?

[acidghost]

I have a twin sibling that’s also going to college at the same time as me. What does this mean? I’m worried about the aid my family can get, we only make 16k a year and I don’t think we can afford to pay something like this. Any advice? :<

[lkg4answers]

Linking to other thread for reference

Chance Me - CA, Low-Income, 3.96UW/4.2 W for Ivy Leagues/UCs (Business OR Biology)

Demographics US Permanent Resident Genderfluid/non-conforming CA Public, online high school White Low-income (16,000/family of 4), Twin brother Intended Major(s): Biology → Optometry Track, Business, or Mech Eng (yes I’m all over the place I don’t know for sure what I want to do) GPA, Rank, and Test Scores HS GPA: 3.96 UW / 4.2 W | UC GPA: 4.0 UW / 4.22 W (GPA is probably dropping to 3.94 UW this year, physics teacher has it out for me) Class Rank: 5/33 (likely 3/33 by the end of the year) ACT/SAT Scores: Not taken, looking at 1440-1550 on practice tests. Coursework 16 dual enrollment classes, completed IGETC requirements (basically associate’s degree). 6 honors classes (school offers no AP/IB) Awards Questbridge College Prep Scholar Principal’s Honor Roll (9th-11th) TeenInk Editor’s Choice Prose Extracurriculars [REDACTED] County Student Advisory Board - Board Member Led group of 5 other students, created PowerPoints and worked as a team. Surveyed and interviewed peopl…

[ucbalumnus]

@acidghost

I’m worried about the aid my family can get, we only make 16k a year and I don’t think we can afford to pay something like this.

If you and your twin get into schools with better financial aid, they may assume a $0 parent contribution based on the income level. So double of $0 is still $0.

However, the schools typically assume a student contribution. For the best financial aid private schools, the assumption is usually $4-5k from student work earnings or work-study. For in-state UCs, the assumption is usually $8-10k from student work earnings or work-study and federal direct loan ($5.5k). In-state CSUs are likely to be very inexpensive for commuters, but may be more than UCs if you live in the dorm or otherwise near the college away from parents.

You can try the net price calculator on each school of interest.

Not all schools will give good financial aid, however.

[Mwfan1921]

The text you posted is misleading. College costs aren’t going to double, what changed is that the FAFSA SAI (formerly EFC) won’t be split by the number of siblings in college. Rather, each sibling will have the full SAI. Example: pre 2024/25: Family SAI/EFC of 30,000 would result in each twin having an SAI/EFC of 15000. From 2024/25 on: Each twin will have an SAI/EFC of 30000 if family SAI/EFC is 30000.

FAFSA SAI is used to determine eligibility for federal financial aid. While some colleges will use FAFSA SAI when deciding upon institutional financial aid amounts, many colleges don’t. FAFSA only schools do not meet full need for all students.

Because your family has low income ($16K from your previous thread), I expect your SAI is going to be -1500 (which you mention on your other thread), assuming ‘typical’ assets. Get an SAI estimate here if you haven’t already: 2024-25 Student Aid Index (SAI) Calculator – College Money Method

The schools that meet full need, like all the Questbridge schools, use the CSS Profile and the college’s own formula for calculating need. CSS Profile asks for more detailed information than the FAFSA (which you still have to file for CSS schools). Some CSS Profile schools still do consider how many siblings are in college when calculating need. Run each school’s net price calculator (NPC) to get estimated costs for your situation. Since Yale is on your list, here is their NPC: ClearCost

I agree with ucbalumnus that many financially generous schools will expect some type of student contribution…summer job earnings, work-study during the school year, and some will expect you take the federal student loans…max of $27K total (for most students) over the four undergrad years.