College Net Price Analysis€¦ · Web viewCollege Net Price Analysis2011 - 12Prepared especially...

Prepared especially forSusie StudentOctober 20, 2011

College Net Price Analysis

America’s College Consultants, Inc.Peyton Kelly, Consultant


October 20, 2011

Dear Susie,

Welcome to your College Net Price Analysis – custom-prepared just for you!

Using this information, you and (“your family”, “your Admissions Consultant”, name of admissions consultant, “I”) can work together to find the right college – at the right price. I believe that the smartest college choices are made when individuals are well informed and understand ahead of time their out-of-pocket (net) college costs.

Your report includes:

1. A brief Financial Aid Primer, including definitions and explanations of:a. Financial aid – exactly what is it?b. The Financial Aid Process,c. Your Expected Family Contribution (EFC),d. Cost of Attendance/Sticker Pricee. Net Price/Net Cost

2. Detailed profiles of your colleges of interest,3. A side-by-side comparison of all of the colleges in your report,4. An analysis of your Expected Family Contribution (the number that colleges will be using to

calculate your financial aid awards) using your actual data, 5. A glossary of all terms used in the report.

Using the information provided in the report, I hope you will b able to draw some relevant conclusions regarding your colleges of interest.

Best wishes as you pursue your college dreams!

Sincerely,

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What is Financial Aid?

In essence, financial aid is any form of payment for educational expenses that does not come directly from the student and/or the parent.

Financial aid can come from a variety of sources:

The Federal government – Federal Pell Grants, Federal Student Loans, etc. A State government – individual state grants The college itself – institutional grants and scholarships An outside entity such as a church, foundation or business – private scholarships

It can take two forms:

Gift aid – need-based grants, merit-based scholarships, talent- or athletic-based scholarshipsSelf-Help aid – loans and work

What is the Financial Aid process?

As a student, you will complete at least one financial aid application each year. In it, you will list the colleges that you are interested in attending. Different colleges may require additional financial aid application materials, but ALL schools require the FAFSA – the Free Application for Federal Student Aid – for Federal financial aid. Some schools may also require their own institutional financial aid form and/or the CSS Profile.

The one form that almost all students will complete is the FAFSA. It serves several purposes, but its most important function is to determine your “expected family contribution “, or “EFC”. This is the number that schools will use to determine the types and amounts of financial aid in your financial aid award.

After you complete and submit your FAFSA (and other financial aid applications, if necessary), each school listed on the form will receive all of your information, including your EFC. Then, schools begin working on your financial aid award.

Each school will use your EFC to determine your “demonstrated financial need”. They do this by using the following equation:

Cost of Attendance (or Budget or Sticker Price) from the college- Expected Family Contribution (EFC)

Need

Each college determines a “budget” or “cost of attendance” for you. From that, they deduct your “expected family contribution”, which is listed on the results of the FAFSA (and CSS Profile, if you completed that, too).

For instance, if School A costs $55,560 for one year, and your EFC is $15,000, your “need” at School A would be $40,560.

However, if School B costs $20,000, an EFC of $15,000 would mean that your “need” at School B would only be $5,000. You would probably get two very different financial aid awards from School A and School B!

School A School BCost of Attendance $55,560 $20,000

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Expected Family Contribution $15,000 $15,000Need $40,560 $ 5,000

Your Expected Family Contribution (EFC)

Federal EFC = $10,000Institutional EFC = $ 9,043

Based on the data that you provided, your estimated Federal Expected Family Contribution for the 2011-12 academic year is $10,000. This is the number that colleges will use to determine your eligibility for Federal financial aid.

Your estimated Institutional Expected Family Contribution for the 2011-12 academic year is $9,043. Since colleges have the option to use a different Expected Family Contribution when awarding their own institutional grant/scholarship aid, this number may vary for different colleges.

The data that was used to calculate these EFCs is listed at the end of this report. You may find it helpful to use it when you actually complete the FAFSA and/or CSS Profile.

Your “Sticker Price”

This is the amount the price that you would pay if you paid cash (no financial aid) to attend a college on a full-time basis for a full-year. It is the same as the “Cost of Attendance” or “Budget”.

The “Sticker Price” includes:

Tuition & Fees Room & Board (even if you are living at home with your parents) Books & Supplies Transportation Personal Miscellaneous expenses

Your “Net Cost” or “Net Price”

Your “net cost” or “net price” for a college is the “sticker price” minus any gift aid (grants and/or scholarships which do not have to be repaid).

Sticker Price- Free Money

Net Price Once you know the “net price” for the colleges that you are interested in attending, you can begin to compare “apples to apples”. For instance, there are some very good (and very expensive) private schools that give so much of their own free money (in the form of institutional grants and scholarships) that it may actually cost you LESS to attend one of them than an inexpensive public university!

Private College Public UniversityCost of Attendance/Sticker Price $55,560 $20,000Expected Family Contribution $15,000 $15,000Need $40,560 $5,000Institutional Gift Aid/Free $$$ $40,560 $ 0

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Net Price $15,000 $20,000

Now that you know what to look for, let’s see how your colleges compare!

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Hamilton College198 College Hill Rd, Clinton, New York 13323

General information: (315) 859-4011

Website: www.hamilton.eduType: 4-year, Private not-for-profitAwards offered: Bachelor's degreeCampus setting: Suburb: MidsizeCampus housing: Yes

Student population: 1,861 (all undergraduate)Student-to-faculty ratio: 9 to 1

Financial Aid Philosophy:Does the college meet demonstrated financial need? YesWhat portion of need does the college typically meet? 100%Is Admissions Need-blind? YesWhat is the institutional aid awarding methodology? Institutional

Cost of Attendance/Sticker Price:

$30,172 – 2009-10 average annual amount of grant and/or scholarship money from the school

$12,953 – 2009-10 average annual net price for families in your income level ($48000 - $75000)(Average net price is generated by subtracting the average amount of federal, state/local government, or institutional grant or scholarship aid from the total cost of attendance.)

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Your EstimatedNet Price *

$55,560This is the 2011-12 “Cost of Attendance”

or “Sticker Price”. It includes:

Full-time Tuition & Fees $41,280On-campus Room & Board $10,480Books & Supplies $ 1,300

Other Expenses $ 2,500

* For a definition of “Estimated Net Price”, please refer to pages 4-5 above.

Hamilton is a private, liberal arts college. Founded in 1812, it adopted coeducation in 1978. Its 1,200-acre campus is located in Clinton, nine miles from Utica.


Merit and/or Athletic Scholarship Opportunities: This college does not award merit or athletic scholarships.

Loan Information: 46% of 2009 graduates borrowed loans. The average indebtedness for the graduating class was $19,466.With a standard 10-year loan repayment, the monthly loan payments would be approximately $224 per month.Approximately 19% of parents borrowed a Federal PLUS loan.

Miscellaneous Rates and Rankings:

To Apply for Financial Aid:Financial Aid Deadline: Early FebruaryIn order to apply for financial aid at Hamilton College, you will need to submit:

FAFSA Institutional Financial Aid Form CSS Profile W-2s and signed copies of actual federal tax returns for student and parent(s) NY State tax return (if applicable) Business/Farm Supplement for student and parent(s) Non-custodial parent form for students whose parents are divorced/separated or were never

married. As with any college, if you are selected for verification, you may need to submit additional documents. To be sure that the school has not changed its deadlines and/or policies, it is best to check their financial aid office website regularly.

College’s Financial Aid Office Website: http://www.hamilton.edu/finaid

Notes:

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RatesAdmit Rate 30% Very SelectiveRetention Rate 96% Very High4-year Graduation Rate

82.5% Very High

6-year Graduation 88% Very High

US News & World Report RankNational Liberal Arts Colleges #17High School Counselor Rankings

#24

Best Value Schools #20

http://www.hamilton.edu/finaid


State University of New York at Geneseo1 College Circle, Geneseo, New York 14454-1465

General information: (585) 245-5211Website: www.geneseo.eduType: 4-year, PublicAwards offered: Bachelor's degree,

Master’s degreeCampus setting: Town: DistantCampus housing: YesStudent population: 5,665 (5,470 undergraduate)Student-to-faculty ratio: 20 to 1

Financial Aid Philosophy:Does the college meet demonstrated financial need? NoWhat portion of need does the college typically meet? 70%Is Admissions Need-blind? YesWhat is the institutional aid awarding methodology? Federal


$4,155 - Average annual amount of grant and/or scholarship money from the school. Only 8% of the incoming freshmen class received any institutional aid.

$16,094 - Average annual net price for families in your income level ($48000 - $75000).(Average net price is generated by subtracting the average amount of federal, state/local government, or institutional grant or scholarship aid from the total cost of attendance.)

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Full-time Tuition & Fees $ 6,401On-campus Room & Board $10,042Books & Supplies $ 900


Your Estimated Net Price *

SUNY College at Geneseo, founded in 1871, is a public, multipurpose college of liberal arts and sciences. It enjoys an outstanding reputation as one of the most selective liberal arts colleges in New York state. Its 220-acre campus is located in Geneseo, 30 miles south of Rochester, and is one of the smaller of the four-year colleges within the State University of New York system. Geneseo offers a personal atmosphere in which students, faculty and staff are concerned about each other. Most students choose Geneseo for its collegiate environment, excellent curricular offerings and idyllic location. Geneseo gives students the opportunity to study with others who have demonstrated a seriousness of purpose and a high level of academic achievement and to work with faculty on research projects.


Merit and/or Athletic Scholarship Opportunities: This college does not award athletic scholarships, but does award merit-based scholarships. 47.4% of incoming freshmen received an average merit-based scholarship of $2,297, and 35.2% of all undergraduate students received an average merit-based scholarship of $2,068.



To Apply for Financial Aid:Financial Aid Deadline: Mid FebruaryIn order to apply for financial aid at SUNY Geneseo, you will need to submit:

FAFSA New York State TAP application

As with any college, if you are selected for verification, you may need to submit additional documents. To be sure that the school has not changed its deadlines and/or policies, it is best to check their financial aid office website regularly.

College’s Financial Aid Office Website: http://www.geneseo.edu/financial_aid/home

Notes:

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64.2% High

6-year Graduation 78% High

US News & World Report RankRegional Universities (North) #8Best Undergraduate Teaching #1Top Public Schools #2Up-and-Coming Schools #1

http://www.geneseo.edu/financial_aid/home


Princeton UniversityPrinceton, New Jersey 08544-0070

General information: (609) 258-3000Website: www.princeton.edu

Type: 4-year, Private not-for-profitAwards offered: Bachelor's degree

Master’s degreeDoctor’s degree – research/scholarship

Campus setting: Suburb: LargeCampus housing: YesStudent population: 7,724 (5,142 undergraduate)Student-to-faculty ratio: 6 to 1

Financial Aid Philosophy:Does the college meet demonstrated financial need? YesWhat portion of need does the college typically meet? 100%Is Admissions Need-blind? YesWhat is the institutional aid awarding methodology? Institutional


$32,503 – 2009-10 average annual amount of grant and/or scholarship money from the school. 60% of the incoming freshmen class received institutional grants and scholarships.

$14,202 – 2009-10 average annual net price for families in your income level ($48000 - $75000).(Average net price is generated by subtracting the average amount of federal, state/local government, or institutional grant or scholarship aid from the total cost of attendance.)

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Princeton, founded in 1746, is a private, Ivy League, comprehensive university. Its 600-acre campus is located in a residential section of Princeton, 50 miles southwest of New York City. The main campus includes Georgian

and Gothic architectural styles and contemporary structures by I.M. Pei and Robert Venturi.


http://www.princeton.edu/

http://www.princeton.edu/


Merit and/or Athletic Scholarship Opportunities: This college does not award merit or athletic scholarships. All aid is based solely on demonstrated financial need.



To Apply for Financial Aid:Financial Aid Deadline: February 1In order to apply for financial aid at Princeton University, you will need to submit:

FAFSA Princeton’s Institutional Financial Aid Form W-2s and signed copies of actual federal tax returns for student and parent(s) Non-custodial parent form for students whose parents are divorced/separated or were never

married. As with any college, if you are selected for verification, you may need to submit additional documents. To be sure that the school has not changed its deadlines and/or policies, it is best to check their financial aid office website regularly. College’s Financial Aid Office Website: http://www.princeton.edu/admission/financialaid/

Notes:

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89.7% Very High

6-year Graduation 96.1% Very High

US News & World Report RankNational Universities #1Best Undergraduate Teaching #1High School Counselor Rankings

#5

Best Value Schools #3

http://www.princeton.edu/admission/financialaid/


University of California – Los Angeles405 Hilgard Ave. Los Angeles, CA 90095-1405


Website: www.ucla.eduType: 4-year, PublicAwards offered: Bachelor's degree

Master’s degreePost-master’s certificateDoctor’s degree – research/scholarshipDoctor’s degree – professional practice

Campus setting: City: LargeCampus housing: YesStudent population: 38,157 (26,162 undergraduate)Student-to-faculty ratio: 16 to 1

Financial Aid Philosophy:Does the college meet demonstrated financial need? NoWhat portion of need does the college typically meet? 81%Is Admissions Need-blind? YesWhat is the institutional aid awarding methodology? Institutional




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$31,554This is the 2011-12 In-State “Cost of

Attendance” or “Sticker Price”. It includes:



UCLA is a public, comprehensive university. Founded as a Normal School in 1919, it later became the first branch of the University of California system. Programs are offered through the Colleges of Letters and

Science; the Schools of Engineering and Applied Science, Dentistry, Law, Medicine, Nursing, Public Health, Public Policy and Social Research, and Theatre, Film, and Television; the Graduate School of Education and Information Science; and the Anderson School of Management. Its 419-acre campus is located in Westwood

Village, within the corporate limits of Los Angeles. Campus architecture contains Tudor-Gothic, Italian Romanesque and modern styles.

http://www.ucla.edu/


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Merit and/or Athletic Scholarship Opportunities: This college does award merit or athletic scholarships.



To Apply for Financial Aid:Financial Aid Deadline: March 2In order to apply for financial aid at UCLA, you will need to submit:

FAFSA Institutional Financial Aid Form

As with any college, if you are selected for verification, you may need to submit additional documents. To be sure that the school has not changed its deadlines and/or policies, it is best to check their financial aid office website regularly.

College’s Financial Aid Office Website: http://www.fao.ucla.edu/

Notes:

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68% High

6-year Graduation 90% Very High

US News & World Report RankNational Universities #25High School Counselor Rankings

#32

Top Public Schools #2

http://www.fao.ucla.edu/


Nyack College1 South Blvd., Nyack, NY 10960-3698


Website: www.nyack.eduType: 4-year, Private not-for-profitAwards offered: Associate’s degree

Bachelor's degreeMaster’s degreeDoctor’s degree – professional practice

Campus setting: Suburb: LargeCampus housing: YesStudent population: 3,305 (2,150 undergraduate)Student-to-faculty ratio: 14 to 1

Financial Aid Philosophy:Does the college meet demonstrated financial need? NoWhat portion of need does the college typically meet? 67%Is Admissions Need-blind? YesWhat is the institutional aid awarding methodology? Federal




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Full-time Tuition & Fees $21,500On-campus Room & Board $ 8,250Books & Supplies $ 750


Nyack, founded in 1882, is a private, church-affiliated, liberal arts college. Its 64-acre campus, overlooking the Hudson River, is located in Nyack, 25 miles north of New York City.

http://www.nyack.edu/


Merit and/or Athletic Scholarship Opportunities: This college does not award athletic scholarships. It does award merit scholarships.



To Apply for Financial Aid:Financial Aid Deadline: Not listedIn order to apply for financial aid at Nyack College, you will need to submit:

FAFSAAs with any college, if you are selected for verification, you may need to submit additional documents. To be sure that the school has not changed its deadlines and/or policies, it is best to check their financial aid office website regularly.

College’s Financial Aid Office Website: http://www.nyack.edu/fcs/finances

Notes:

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RatesAdmit Rate 100% Not SelectiveRetention Rate 76% Moderate4-year Graduation Rate

30.8% Low

6-year Graduation 42% Low

US News & World Report RankNot ranked in any category

http://www.nyack.edu/fcs/finances


Side-by-Side comparison:

Hamilton College

SUNY Geneseo

Princeton University

UCLA Nyack College

Sticker Price $55,560 $19,243 $52,715 $31,554 $31,196Your EFC $10,000 $10,000 $10,000 $10,000 $10,000Your Need $40,560 $ 9,243 $42,715 $21,554 $21,196Meets Need? Yes No Yes No NoAverage Grant

$30,172 $ 4,155 $32,503 $8,060 $8,929

Your Estimated Net Price

$14,368 $16,346 $11,390 $18,450 $21,890

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What is your Expected Family Contribution (EFC)?

A student’s expected family contribution (EFC) is an estimate of the parents’ and/or student’s ability to contribute toward college expenses. A student’s Federal EFC will be calculated when s/he submits a complete and accurate FAFSA. This is the number that colleges will use to determine a student’s eligibility for all Federal forms of financial aid. Some colleges also require students to complete and additional form such as the CSS Profile. The Profile calculates a different EFC, which schools can use to determine a student’s eligibility for institutional aid.

Your EFC was calculated using the following data:

Student status DependentParents’ marital status SingleFamily size 3# in college 1Student’s home state NYStudent’s age 18Age of older parent 46Parents’ Adjusted Gross Income (AGI) 61850Parents’ Earnings from Work 61500Parents’ Taxable combat pay included in AGI 0Parents’ Untaxed income/benefits 6000Parents’ untaxed social security benefits received for all family members except the student

11000

Parents’ other income (the total of dependent care and medical spending accounts, Earned Income Credit, tuition and fees deduction, additional child tax credit, basic military housing benefits, and foreign income exclusion)

0

Parents’ Child support paid 0Parents’ Education Tax Credits 0Did anyone in the family receive Federal Means-Tested Benefits (Supplemental Security Income, Food Stamps, Free or Reduced Price School Lunch, Temporary Assistance to Needy Families, Special Supplemental Nutrition Program for Women, Infants and Children)?

No

Is either parent a dislocated worker? NoParents’ US income taxes paid 3000Parents’ Medical/dental expenses 0Student’s Adjusted Gross Income (AGI) 1500Student’s Earnings from Work 1500Student’s Taxable combat pay included in AGI 0Student’s Untaxed income/benefits 0Student’s Education Tax Credits 0Student’s work study earnings/financial aid/co-op income 0Student’s US income taxes paid 0Student’s medical/dental expenses 0Parents’ cash, savings and checking accounts 1000Parents’ total value of assets held in the names of the student’s brothers and sisters

0

Parents’ home equity (value of home minus what is owed on it)

3500

Parents’ other real estate and investments (but NOT the 35000

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student’s home)Do the parents own a business? NoDoes that business employ more than 100 FTE? n/aWhat is the value (minus debt) of the business? 0Do the parents own a farm? NoDo the parents live on and materially work on the farm? n/aWhat is the value (minus debt) of the farm? 0Student’s cash, savings and checking accounts 500Student’s home equity (value of home minus what is owed on it)

0

Student’s other real estate and investments (but NOT the student’s home)

0

Does the student own a business? NoDoes that business employ more than 100 FTE? n/aWhat is the value (minus debt) of the business? 0Does the student own a farm? NoDoes the student live on and materially work on the farm? n/aWhat is the value (minus debt) of the farm? 0What is the value of all of the student’s trust accounts? 0

EFC Results:

Federal Methodology (used by schools to calculate federal forms of financial aid:$10,001(Parents’ contribution = $9,901, Student’s contribution = $100)

Institutional Methodology (used by schools to calculate institutional forms of financial aid: $ 9,043

(Parents’ contribution = $7,168, Student’s contribution = $1,875)

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Glossary of Terms

4-year Graduation rate – The percentage of students who complete a 4-year degree in 4 years. A high graduation rate means that students tend to complete their degrees in a timely manner, which is a good thing! If it takes a student 5 or 6 years to complete their 4-year degree, you will be paying for 5 or 6 years of college expenses. The national average for a 4-year graduation rate is 40%.

6-year Graduation rate – The percentage of students who complete a 4-year degree in 6 years. The national average for a 4-year graduation rate is 56%.

Admit rate – The percentage of students offered admissions divided by the number of students who applied for admissions. The lower the admit rate, the more selective the college. For instance, Stanford only admitted 7% of its applicants, while Arizona State University admitted 91%.

Business/Farm Supplement – For students (or their parents) who have a business and/or a farm, some schools require this form.

Cost of Attendance, or Budget – The amount that it should cost the student to attend school for a specific period of time (usually one academic year). It typically includes tuition, fees, room, board, books, supplies, transportation, and miscellaneous personal expenses. Other components (like child care, loan fees, etc.) can be added.

CSS Profile – The College Board’s version of the FAFSA, but for institutional aid rather than for Federal aid. If a school has a lot of its own money to offer, it may require this form in addition to the FAFSA. The Profile is a fee-based application that determines a student’s/family’s Institutional Methodology Expected Family Contribution, and a school will use that to determine the amount of institutional aid it will offer a student.

Demonstrated Financial Need, or Need – The equation to determine “need” is “Cost of Attendance minus Expected Family Contribution”. For instance, if a school’s Cost of Attendance is $25,000, and the student’s Expected Family Contribution is $10,000, the student’s “Need” or “Demonstrated Financial Need” is $15,000. The school can award up to $15,000 of need-based financial aid to the student.

Dependent vs. Independent – For financial aid purposes, students are considered “dependent” or “independent”. The FAFSA asks a series of questions to determine a student’s dependency status. If the student is considered “dependent”, the student’s parent(s) will need to complete and sign the FAFSA. If the student is considered to be “independent”, just the student (and the student’s spouse if applicable) will complete and sign the FAFSA.

Expected Family Contribution (EFC) – You might think that this is the amount that the Federal government or the schools expect the student and/or the family to contribute to the college costs for the year, but that’s not exactly the case. The Expected Family Contribution is just the number at the end of the big equation that is Federal Methodology (or Institutional Methodology). Schools use the EFC to determine “need” and the student’s eligibility for “need-based aid”.

FAFSA – The Free Application for Federal Student Aid. This is the form that all students/families must complete in order to apply for Federal financial aid.

Federal Methodology and Institutional Methodology – These are really just equations to determine a student’s Expected Family Contribution. The Federal Methodology is the formula (mandated by Congress) that a student’s/family’s FAFSA data is plugged into to determine a

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Federal Expected Family Contribution (used to determine “need” for Federal awards). Institutional Methodology is the formula that the College Board and/or individual colleges use to determine a student’s/family’s Institutional Expected Family Contribution (used to determine “need” for institutional awards).

Graduation rate – Colleges calculate graduation rates for 4-year degrees for 4-years, 5-years and 6-years. If a college’s 6-year graduation rate is low, it means that students don’t routinely graduate with their 4-year degree in even 6 years.

Grant – Free money, usually based on need.

Independent vs. Dependent – For financial aid purposes, students are considered “dependent” or “independent”. The FAFSA asks a series of questions to determine a student’s dependency status. If the student is considered “dependent”, the student’s parent(s) will need to complete and sign the FAFSA. If the student is considered to be “independent”, just the student (and the student’s spouse if applicable) will complete and sign the FAFSA.

Institutional Methodology and Federal Methodology – These are really just equations to determine a student’s Expected Family Contribution. The Federal Methodology is the formula (mandated by Congress) that a student’s/family’s FAFSA data is plugged into to determine a Federal Expected Family Contribution (used to determine “need” for Federal awards). Institutional Methodology is the formula that the College Board and/or individual colleges use to determine a student’s/family’s Institutional Expected Family Contribution (used to determine “need” for institutional awards).

Need, or Demonstrated Financial Need – The equation to determine “need” is “Cost of Attendance minus Expected Family Contribution”. For instance, if a school’s Cost of Attendance is $25,000, and the student’s Expected Family Contribution is $10,000, the student’s “Need” or “Demonstrated Financial Need” is $15,000. The school can award up to $15,000 of need-based financial aid to the student.

Need-blind – Before offering admission to a student, some colleges look to see if the student is financially needy. If the student has a lot of financial need, the college may choose not to admit the student because of it. If a school is “need-blind”, it means that they don’t look to see whether a student is financially needy before offering admission. They offer admission based solely on academic merit, and not on the ability to pay for college.

Net Cost, or Net Price – Per the US Department of Education, “The HEOA defines institutional net price as “the average yearly price actually charged to first-time, full-time undergraduate students receiving student aid at an institution of higher education after deducting such aid.” Essentially, net price moves beyond an institution’s “sticker price” and provides students and families with an idea of how much a first-time, full-time undergraduate student who was awarded aid pays to attend a particular institution after grant or scholarship aid is subtracted from the published cost of attendance.

Non-custodial parent, Non-custodial parent form – If a dependent student’s biological parents are divorced, separated or were never marred AND are not living together, the student’s custodial parent – the one he currently lives with, has lived with more in the last 12-months, or who financially provided for him more than the other parent – is the one who must complete and sign the FAFSA for the student. The other parent, who does not complete the FAFSA, is the non-custodial parent. However, some schools still require the non-custodial parent to complete some forms (such as the CSS Profile for Non-Custodial Parents) to determine how much the non-custodial parent can contribute to the student’s education.

Retention rate – This is the rate at which first-time freshmen return for their second year. A high retention rate means that students do well their freshmen year and like the school enough to

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return. A low retention rate indicates that students either don’t like the school, or can’t afford the school. The national average for retention rate is 75%.

Scholarship – Free money, usually associated with academic merit, talent, or athletic ability. May or may not have a “need” component.

Sticker Price – The school’s published Cost of Attendance, which typically includes tuition, fees, room, board, books, supplies, transportation, and miscellaneous personal expenses. If a student doesn’t apply for any financial aid, this would be the amount that the student/family would expect to pay out-of-pocket for a full year.

Student-to-faculty ratio – The number of students per faculty. When this ration is low (12:1, 10:1), it typically means that classes are smaller, and students get more individualized attention.

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Disclaimers

The intent of this analysis is to provide you with the best estimate of your aid, but your final aid will depend on your actual 2012-13 FAFSA (and CSS Profile or Institutional financial aid application) results and your official academic information. Please visit www.fafsa.com to complete your FAFSA and to learn more about the financial aid process.

The net price calculators used estimate your expected family contribution (EFC) and you eligibility for need-based financial aid. The only way to know what your actual financial aid award from a college would be is to apply for admission, be accepted, and complete the financial aid application process. Also, if a college also awards merit-based, talent-based or athletic-based aid, the net price calculator estimate could be very different from your actual award.

It is important to understand that the estimate provided using this calculator does not represent a final determination, or actual award, of financial assistance, or a final net price; it is an estimate based on price of attendance and financial aid provided to students in a previous year. Price of attendance and financial aid availability change year to year. The estimates shall not be binding on the Secretary of Education, the institution of higher education, or the State.

Keep in mind that any unreported outside/private scholarship or financial assistance may reduce financial aid resources.

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http://www.fafsa.com/


Notes

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