Experts on merit-based aid...

[Okra]

Please help!  I'm feeling stressed.  I'm looking for places that offer merit-based aid.  I have a big family, we aren't low-income.  Yes, I'm happy about that.  But, running the net-price calculators on some private colleges have made my eyes bug out, and stress me out.  I have a commitment to all of my children.  It just seems too expensive.

 

Let's take the oldest.  She would qualify for free tuition and board at State University.  Yes, this makes me happy, I'm not trying to complain, but when we started looking at other private colleges, I started getting stressed.  

 

We  need to look at at merit based aid, please help me look toward the right places!  ACT score of 33/34 if that is helpful to anyone.

 

I'm aware that State University offers a sweet deal.  I can't imagine looking out of state at other state universities.  But, what about smaller colleges.  Where to look?  It seems that when I look at some of them  on the net price calculator, even with a scholarship they seem SO expensive!    When I look at the cost of Free vs. Liberal arts college it seems like just too much money.  Are there going to be realistic choices here?

 

Are there any smaller liberal arts colleges, or medium universities that offer really good merit scholarships? 

 

I know there are more experienced people out there.

 

 

[1Togo]

We are doing the same research and have come up with similar results.  For last dc, it seems to be a sweet deal from local state university versus hefty money at in-state private universities even with a strong ACT and an excellent audition for musical instrument and voice.  One mom at our cover suggested checking with private universities to see if they allow scholarship stacking (Whatever it's called.); i.e. money through several avenues.  If so, you can put together money from ACT, music, private scholarships, etc.  Lee Binz has an ebook on this. 

 

 

[In The Great White North]

There's a sticky on College Confidential that talks about automatic scholarships for National Merit finalists.

 

 Honors Colleges at State schools can alos give the small LAC feel to a State uni.

[creekland]

What major?

 

One place we were impressed with was Nova Southeastern in Ft. Lauderdale, FL. They are "newer" at undergrad education having started as grad/professional schools, but they have designed their undergrad with grad/prof schools in mind. ALL classes are small. Profs we talked with told me they know both the first and last names of each student they have.

 

Kids with decent SATs and GPAs get free tuition PLUS you can get more... up to full rides.

 

Another one I know of, but haven't visited is LaSalle in PA. They have a fairly set core curriculum, so check to see if that matches what one`likes. One of middle son's peers is there on a full ride.

[Teachin'Mine]

Is your daughter a junior or senior?  I ask because the applications deadline has passed for some of the colleges which are most generous with aid.  If she is a senior, when you search, be sure to take into account application deadlines.  Ones with rolling admissions might give very nice merit aid for her ACT score.  I would definitely look at the state school and find out about their honors college or other programs she might be interested in.

[Lori D.]

In answer to your specific question: College Data lets you search to find out how much merit aid a college gives out. And here's a helpful past thread on How do you get started looking for scholarships?

 

Branching out a bit on this topic: if money is a deciding factor of where DD goes, then here are some options to consider:

 

1. Scholarship Search

Look for a school that is well-endowed with lots of $$ to give away AND that will accept "outside" money (aid NOT given from "inside" by the school itself) and start applying like crazy for as many outside scholarships as possible -- the "stacking up" mentioned by previous poster. Realize that many schools DEDUCT the amount of "outside" money from what they would have offered the student, with a net result of no additional funds -- in other words, they do NOT allow "stacking".) 

 

Tips to help increase your odds of earning "outside" scholarships: FinAid article "How To Win a Merit Scholarship"

 

CAVEAT: Do be aware that most of those outside scholarships are only 1-time awards, and there are far fewer outside scholarships for students after the freshman year in college.

 

 

2. College Profile

Do a search of college profiles of ACT scores of incoming freshman, and apply to schools where DD's 33/34 would place her in the top 5% for that college. That can earn her more merit aid from the school because her higher ACT score boosts the school's average. Find school profiles: About.com: college profiles (alphabetical list of schools; info includes SAT/ACT scores, and how they award financial aid).

 

 

3. Helpful Colleges

Look for colleges that "go the extra mile" to make it financially possible to attend: College Xpress list. Also look at tuition-free schools: 12 Tuition-Free Colleges; 20 of the Best Colleges Offering Free Tuition. Do be aware that some charge FEES that can be substantial, and you will likely still have to pay for room & board, which is not cheap.

 

 

4. Compare Programs within the School

As you look as schools, realize that some programs within the school have more money to give out than others (usually comes into play in the jr/sr years of college), often in the form on internships. Look specifically at the dept/program through which your student would be earning the degree for the list of scholarships given out through that dept/program. If there are 2 routes for earning very similar degrees, and one is through a program with much more $$ to give out... well, do the math. ;)

 

 

5. Understand Scholarship Requirements

Carefully look over requirements to the monies offered by the State Univ. -- they may require hours of time, minimum number of credits, or minimum GPA, which may put a LOT of stress on your student to keep up with those requirements on top of going to school. Also find out what the policy is on if your student "slips" and can't maintain the GPA or credits for a semester:

 

- Do you have to pay back the scholarship money used already?

- Is there a "grace semester" in which if the student pulls the GPA back up, the scholarship is reinstated?

- Do the requirements increase each year (i.e., requires a higher GPA, more service hours, a project, more credits), making it harder to keep the scholarship in subsequent years?

 

 

6. Accrue Credits in Advance of College

Another way of possibly saving money is through dual enrollment (DE) or CLEP testing while your student is still in high school, reducing the number of credits (and therefore, number of semesters) the student needs to attend and pay for. Important to find out FIRST:

 

- Would it save you money? (depending on what is available to you, dual enrollment may be free/low cost -- or about as much as the university)

 

- Does your DD have the time/interest/desire to study for and take CLEP tests?

 

- Would the credits from either CLEP or DE be accepted at the schools DD is interested in as part of her degree program? Or just as general electives? Or not accepted at all? 

 

 

7. Work-for-Tuition programs

Some companies provide scholarships that pay for your tuition, and in return you work for the company for several years upon graduation: Tuition Reimbursement: 10 Companies That Help Employees Pay for College; 33 Companies That Can Save You From College Debt. STEM students might want to consider the SMART scholarship, which is scholarship money in exchange for working as a civilian researcher for the US Military upon graduation. 

 

 

BEST of luck as you weigh your options! Warmest regards, Lori D.

[Pawz4me]

Please help!  I'm feeling stressed.  I'm looking for places that offer merit-based aid.  I have a big family, we aren't low-income.  Yes, I'm happy about that.  But, running the net-price calculators on some private colleges have made my eyes bug out, and stress me out.  I have a commitment to all of my children.  It just seems too expensive.

 

Let's take the oldest.  She would qualify for free tuition and board at State University.  Yes, this makes me happy, I'm not trying to complain, but when we started looking at other private colleges, I started getting stressed.  

 

We  need to look at at merit based aid, please help me look toward the right places!  ACT score of 33/34 if that is helpful to anyone.

 

I'm aware that State University offers a sweet deal.  I can't imagine looking out of state at other state universities.  But, what about smaller colleges.  Where to look?  It seems that when I look at some of them  on the net price calculator, even with a scholarship they seem SO expensive!    When I look at the cost of Free vs. Liberal arts college it seems like just too much money.  Are there going to be realistic choices here?

 

Are there any smaller liberal arts colleges, or medium universities that offer really good merit scholarships? 

 

I know there are more experienced people out there.

 

I wouldn't rule that out, unless you just don't want her going that far away.  Some state schools give very good merit aid to high stats OOS students.  My DS has applied to and been accepted at one OOS flagship so far, and that school has already offered him in-state tuition, which will make it just a bit less expensive than our state flagship.  Plus the OOS school said that is the minimum he will be offered, and strongly hinted that he should expect to receive more merit aid from them when they send their final figures.

[Bootsie]

I wouldn't rule that out, unless you just don't want her going that far away.  Some state schools give very good merit aid to high stats OOS students.  My DS has applied to and been accepted at one OOS flagship so far, and that school has already offered him in-state tuition, which will make it just a bit less expensive than our state flagship.  Plus the OOS school said that is the minimum he will be offered, and strongly hinted that he should expect more in his final package.

Also, tuition varies greatly from state-to-state.  Out-of-state tuition in some states can be less than in-state tuition in other states.  

[Bootsie]

Are you looking for aid for a particular major.  Some schools have merit aid that applies to a particular major.  Some majors tend to attract much more scholarship money than others.  For example, I know a number of business schools who have scholarship money designated for entrepreneurship majors in the college of business.  Entrepreneurs tend to give more money, than say "managers" and they want it to go to budding entrepreneurs.  

[Lolly]

Do watch out for the no stacking scholarships. The school dd decided she wanted to attend did not allow stacking. AFter our decision was made, dd was sent an award letter with her merit aid. She received the top amount allowed. Then, she was granted a scholarship. We received a new letter which has the merit aid and scholarship on it. THe amount of merit aid was decreased by the amount of the scholarship. With the help of her swim coach....we were able to get the original merit aid back and decline the scholarship. The scholarship had more strings attached (higher gpa to maintain, loss if she changed major, and not auto renewed each year). The school would not have given the merit aid back if the coach had not gotten involved. We would have dropped this school if it had not. It is a completely horrid set-up.

 

Sorry that doesn't help you with your quest. Just wanting to warn you what could happen with merit aid and additional scholarships.

[Gwen in VA]

There are two sides to merit aid -- choosing the right college and helping your child to be the kind of person who colleges want to give money to.

 

*** Select colleges that interest your child (based on major, location, or whatever) and then do the research. Some colleges give a LOT more merit aid than others. Be selective about where your child applies. (After child #1, our kids only applied to state schools or private schools where there was a finite chance (no matter how small) that they could end up with a full-tuition scholarship.) Do remember that SOMEONE has to get that merit money, even if the chances are only 1 in 500!

 

*** Help your child to stand out in the crowd.

1) Does she have leadership experience? (This could come in the form of directing a church choir or debating or Civil Air Patrol or Girl Scouts or being in charge of the audio stuff at your church.)

2) Academics -- your dd sounds like she is a STRONG student, but does she have "outside verification" other than ACT scores? Dual-enrollment classes help colleges feel confident that a student can handle being in a classroom environment. SAT-2's and AP scores will help her be competitive academically.

3) Interesting extra-curriculars? What is her passion? What does she do in her spare time? Does she play the harp at the local hospital or go on search and rescue missions or is she a volunteer firefighter or does she act in community theater or does she train service dogs or.....?

4) Is she active in her community? Does she sing in a local choir or volunteer at a local museum or is she the conceertmaster of a local orchestra or does she lead a Bible study for middle-schoolers or does she help in a soup kitchen?

 

Helping your kids develop their passions will make them stand out in the college admisssions process! (If she is a senior, most of this post is not relevant to her, but it is relevant to your younger kids!)

[Sebastian (a lady)]

Please help! I'm feeling stressed. I'm looking for places that offer merit-based aid. I have a big family, we aren't low-income. Yes, I'm happy about that. But, running the net-price calculators on some private colleges have made my eyes bug out, and stress me out. I have a commitment to all of my children. It just seems too expensive.

 

Let's take the oldest. She would qualify for free tuition and board at State University. Yes, this makes me happy, I'm not trying to complain, but when we started looking at other private colleges, I started getting stressed.

 

We need to look at at merit based aid, please help me look toward the right places! ACT score of 33/34 if that is helpful to anyone.

 

I'm aware that State University offers a sweet deal. I can't imagine looking out of state at other state universities. But, what about smaller colleges. Where to look? It seems that when I look at some of them on the net price calculator, even with a scholarship they seem SO expensive! When I look at the cost of Free vs. Liberal arts college it seems like just too much money. Are there going to be realistic choices here?

 

Are there any smaller liberal arts colleges, or medium universities that offer really good merit scholarships?

 

I know there are more experienced people out there.

Look at Miami University in Ohio (outside Cincinnati ). I think highly of the school, which is often called one of the public ivies. I was pleasantly surprised that their merit scholarships take into account the higher cost of out of state tuition. So a 50% tuition is higher for oos students. The act scores you mentioned would put her into range.