We aren’t rich, but we are really not destitute either.
We haven't much set aside attending college savings and we almost never qualified for need-based aid. All of this puts us squarely in the middle, like a large amount of families trying to figure out how to pay for college.
So I’ll share what we should did to afford paying for four kids in college simultaneously.
8 Strategies I did previously Allow us to Purchase College
I followed the strategies specified by the Affording university 101 Facebook group that worked best for us situation.
Here they are:
1. Run the web price calculator (NPC) for every college your student is considering before you decide to do anything else.
If the NPC answers are going to be outrageous, don't even visit, don't even apply. (Unless there is a compelling reason as an unpublished scholarship your student might get.)
2. Encourage (I should probably say require) your student to apply to many REALLY safe-safety schools.
I consider a really safe-safety school to become one where your student’s GPA and test scores tend to be greater than the school average.
This will make your student certainly one of college’s “top recruits”. As being a “top recruit” makes it much more likely that the student could be offered a top merit aid scholarship reaches that college.
3. DO NOT get focused on a “Dream School.”
Be prepared to leave behind any college if a better fit (academically, socially, geographically AND financially) comes along. Falling in love with a dream will not get this to process less expensive for you nor for your student. It simply won't.
[Read Giving Up The ideal College To Graduate Debt Free]
4. Appeal whatever the college's first educational funding offer is.
Contact admissions and ask what the student needs to show or do to qualify for a higher merit scholarships.
Show a GPA upswing on their own interim transcript? Retake the SAT for a higher superscore? Come in for a personal meeting with financial aid officers for possible need aid? Show bank statements? Whatever it takes.
[Read Strategies for Handling Your Student’s Financial Aid Appeal]
5. Meet the people within the admissions office in person, even after your student is accepted.
Especially whether it's a high choice. These are often the same individuals who take a seat on the merit or appeals panel, and when they've actually met the student personally, the chances of getting approved increase.
6. Be specific concerning the amount of money you really want so that you can enroll.
Give the college the precise amount of money that will make your student enroll right then and there.
7. Wait. Oh my goodness, wait!
As long as housing is guaranteed for freshman, have the student follow-up via email and periodic phone calls after you have accepted.
But Don't COMMIT until literally May 1st to the college you cannot easily afford. Here's why: if a college is actually below their enrollment goals, the closer they reach decision day, THEY WILL ALMOST CERTAINLY increase aid offers seeking accepted (yet uncommitted) students to sign up.
8. Conversely, consider applying early.
If you've got a high-stats, middle income student, (particularly if you're lower income), DO NOT eliminate early decision, restricted early action or single-choice early action (ED, REA or SCEA) at elite, deep-pocketed, need-blind admissions colleges that meet 100% of need with no-loans. Those might actually find yourself being your most affordable options!
[Understanding the different sorts of college admissions deadlines.]
Regardless of their exorbitant sticker prices, heavily endowed colleges often have need aid policies that bring costs down far through your EFC – sometimes free, and often less expensive than your State college could be. But the catch is they're nearly impossible to get in, no matter how qualified a student is.
To have better than a 1 out of 20 chance of getting into during regular decision, applying at the begining of decision, restricted early decision or single choice early action can open doors to what had the ability to find yourself being your least expensive option!
Just run the net price calculator on the few elite, or Ivy colleges if you've got a qualified student and also you happen to be middle-class – and find out what I mean. The ED/REA/SCEA chances are still quite slim – however it will be your best shot.
Lastly, I've posted pictures, below, of my oldest four kids within their four different colleges along with information on the particular aid and admissions strategies we actually used to get them there. They cover three private colleges and one public school.
For the 2023/2023 school year, we’re able to pay for all four colleges without loans and no college is expecting more money from us than we have. (Which isn't a great deal, keeping it real.)
I hope this helps answer questions many of you might have but didn't feel comfortable asking!
DS1 (Dear Son, 1st child) a rising Senior at Delaware State University along with a music major. He received a complete tuition scholarship and and his meal plan is included by scholarships/grants. He accepted loans his first couple of years, and can graduate with ~10k in student loans. He was our first. We simply didn't know then what we should know now about chasing additional institutional merit aid.
DD2 (Darling Daughter, 2nd Child) is really a rising Sophomore at the University of Pennsylvania. She's majoring in Electrical Engineering. She applied early decision. Their generous need aid policies make our out-of-pocket costs realistic and affordable for all of us. (Less than half our EFC this past year.) Thankfully, no loans for just about any of us were needed. The biggest issue was getting into at all, and she brought out all stops to go into, including applying during Early Decision.
DD3 (Darling Daughter 3rd child) is an incoming freshman at Albright. She's majoring in psychobiology. She requested their full ride scholarship and won it. (It required: writing a particular essay, providing one more, FERPA-waived non-academic recommendation, an in-person interview having a 4-person panel of judges, and a ending up in obama from the College.) No joke, this kid prepared for those interviews enjoy it was a Fortune 500 job.