My experience, after going through this with two kids with about average to slightly higher than average grades/scores relative to the schools being applied for and for reasonably above average but not top tier schools:So basically no aid for expensive schools unless it’s merit. My worry is not being able to pay for some of these fancy schools that command $50k+ a year. Thanks for the input!
My suggestion is to focus on having children who excel academically. My guess is that you can afford college when the time comes.
All private schools are expensive ($50K to $75K). FAFSA was not an option due to income and assets, so I did not bother. I have four thoughts/observations:
While I do not have direct evidence, I do believe that we had an edge in getting acceptances because we did not need the aid. I was surprised by the number and quality of acceptances.
We did get what I thought was a reasonable and non-trivial amount of merit scholarships from all of the schools that were of interest, about 1/4 or more of the list price.
I was able to get more than what was offered for one kid by speaking with the head of the scholarship department and saying that the decision to choose their school would be made a lot easier if they can make their grant a bit more more competitive
A grant (whether need based or merit) for part of the cost was for me much preferable to a full loan.
Statistics: Posted by skeptical — Thu Jan 04, 2024 3:46 am — Replies 34 — Views 1750