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Fireflyscout
Member
| Joined: | Sun Mar 5th, 2006 |
| Location: | |
| Posts: | 184 |
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Posted: Sat May 12th, 2007 11:41 am |
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I've heard so many horror stories about how colleges offer sweet financial aid packages to freshmen, only to reduce them in subsequent years. So it was with quite a sigh of relief when D called with her new package for next year and it was still as generous as the first year.
Anyone else with good news?
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limner
Member
| Joined: | Sun Jul 16th, 2006 |
| Location: | Tennessee USA |
| Posts: | 816 |
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Posted: Sat May 12th, 2007 01:19 pm |
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firefly, your good news is my good news.  I'm happy to hear that your D's finaid pkg. for her sophomore year is still lookin' good.
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DesperateDad
Member
| Joined: | Tue Mar 14th, 2006 |
| Location: | California USA |
| Posts: | 849 |
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Posted: Sat May 12th, 2007 03:08 pm |
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"horror stories..."
One way to reduce the chance of that happening is to pin down the FinAid rep before the college choice is made May 1. Just ask 'em (or send an e-mail so you have a response in writing: 'if our financial situation does not change, will the finaid in future years be the same as this year? ' And, of course, ask if a certain gpa/courseload is required to maintain any merit money.
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CarolynLawrence
Administrator
| Joined: | Sun Mar 5th, 2006 |
| Location: | USA |
| Posts: | 3319 |
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Posted: Sat May 12th, 2007 05:43 pm |
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| If you have the online premium edition of US News Best Colleges, you can also look at the average financial aid packages for freshman and "all students." Although this is pretty generalized information, and obviously won't reflect changes in individual familiy situations, sometimes it is pretty clear that certain colleges tend to "jack up" the amount of loans once you get past freshman year.
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toobusytoday
Member
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Posted: Sun May 13th, 2007 12:40 am |
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I agree with Desperate Dad, the smartest thing to do is to talk to the finaid people before hand. On the back of my son's financial grant contract it's spelled out what gpa he has to maintain to keep the grant. I still talked to the finaid person to make sure that was true. I was concerned because even though son's grants are merit aid I was worried that they were somehow tied to our EFC and I knew our EFC would rise after his sister graduated from college. I was assured that it was merit money, tied to gpa performance and most likely he would just lose his work study job. But, I will feel much better when we get the contract for next year - it's supposed to come this week!
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