Jump to content

Menu

MyinTuition vs npc


Mom0012
 Share

Recommended Posts

I am getting vastly different amounts using the MyinTuition versus npcs. I’m trying to figure out why because Myintuition seems to account for assets — home, retirement, college savings, regular savings accounts. The MyinTuition tool, which many of the colleges we are looking at link on their websites gives me a significantly lower expected family contribution. Why would this be?

Edited by Mom0012
Link to comment
Share on other sites

Also, an FYI for anyone else using these tools — the year we go from two children to one child in college, our efc doubles. When I had initially done calculations for my dd, I only did the first year, not realizing how big of a jump there will be in what we will be expected to pay once my ds graduates from college.

Link to comment
Share on other sites

4 hours ago, Mom0012 said:

I am getting vastly different amounts using the MyinTuition versus npcs. I’m trying to figure out why because Myintuition seems to account for assets — home, retirement, college savings, regular savings accounts. The MyinTuition tool, which many of the colleges we are looking at link on their websites gives me a significantly lower expected family contribution. Why would this be?

I'm not very familiar with MyinTuition, but when I played around with it using the same financial numbers in the Big Future EFC calculator and the MyinTuition tool, the family contribution seemed pretty close ($32,848 on Big Future and a suspiciously even $30,000 on MyinTution).  The MyinTution tool did have a couple other numbers based on higher or lower amounts in Need Based Scholarship, but it doesn't explain where the data for the range comes from.

I used Notre Dame to compare.  Looking at their NPC vs the Myintuition tool it seems like the amount on the NPC is one of the numbers in the MyinTuition tool.  There is a large range between the low and high numbers they show, possibly as a result of trying to make it quicker and thus taking account of fewer data points.

  • Like 1
Link to comment
Share on other sites

11 hours ago, Sebastian (a lady) said:

I'm not very familiar with MyinTuition, but when I played around with it using the same financial numbers in the Big Future EFC calculator and the MyinTuition tool, the family contribution seemed pretty close ($32,848 on Big Future and a suspiciously even $30,000 on MyinTution).  The MyinTution tool did have a couple other numbers based on higher or lower amounts in Need Based Scholarship, but it doesn't explain where the data for the range comes from.

I used Notre Dame to compare.  Looking at their NPC vs the Myintuition tool it seems like the amount on the NPC is one of the numbers in the MyinTuition tool.  There is a large range between the low and high numbers they show, possibly as a result of trying to make it quicker and thus taking account of fewer data points.

Thank you! I misread one of the questions on the NPC and included all of our retirement income when it said NOT to include retirement income. I am trying to be so careful with this so that I don’t give my daughter false hope about what we can afford and I thought I had really made a big mistake.

Link to comment
Share on other sites

  • 2 weeks later...
On 7/2/2019 at 10:38 AM, Mom0012 said:

I am trying to be so careful with this so that I don’t give my daughter false hope about what we can afford  

Do make sure she understands that all of the calculators only provide rough estimates. If you can just barely swing an estimate, then a few thousand the wrong way can make it impossible. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...