| By fillmore on Friday, February 21, 2003 - 10:29 am: Edit |
Our son will be an Ivy freshman in Sept. and we're receiving a small amount of need-based aid.
If I understand the formula correctly, we can expect the aid amount to increase each year, because:
Our income is stagnant (unfortunately).
Each year we'll use up a bunch of assets to pay for college.
Total cost will go up each year.
So if our income stays the same, assets go down, and cost goes up, that means our EFC will decline slightly each year. If total cost goes up by, say, $1500 per year, our aid should increase by $1500 PLUS the decrease in our EFC - right?
Does this sound reasonable?
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