FAFSA aid discrepancy - estimated vs actual aid completely different - Parent Plus loan advice?

same thing happened to my daughter last year!! the net price calculator said we'd get like $9k in need based but we only got $2k. its such a scam honestly, they get your kid all excited about the school then hit you with the real numbers after they've committed. so frustrating

This happens a lot, unfortunately. The discrepancy is usually due to one of these issues: 1. The Net Price Calculator uses different formulas than the school's actual financial aid methodology 2. You might have entered something differently on the NPC vs the FAFSA 3. The school ran out of institutional need-based aid (this happens a lot with schools that aren't fully need-blind) 4. Your financial situation changed between estimate and award As for Parent PLUS loans, they're generally better than private loans because they offer more flexible repayment options and forgiveness possibilities. The interest rate is fixed at 8.05% for 2025-2026, which might be higher than some private loans, but the federal protections often outweigh the rate difference. You can always refinance later if rates improve.

omg schools do this ALL THE TIME they just want to get your deposit and then they dont care what happens after that. my son got way less aid than what they said at first too. we ended up having to take out like 3 different loans just to cover everything its ridiculous

You should definitely call the financial aid office and ask for an explanation! Sometimes there are errors in how they processed your FAFSA data, or they might have institutional funds they haven't allocated yet. Don't just accept the first offer - I was able to get an additional $6,800 in institutional grants just by asking for a review. Schools have appeal processes for exactly this type of situation. Also, if your financial situation has changed at all since you filed the FAFSA (job loss, medical expenses, etc.), you can request a professional judgment review.

I had the EXACT same issue trying to reach our financial aid office! After getting disconnected 5 times and waiting on hold for hours, I finally tried using Claimyr (claimyr.com) to connect with them. It actually worked - got through to a real person in about 10 minutes. There's a video showing how it works here: https://youtu.be/TbC8dZQWYNQ It was seriously worth it to finally get answers about our aid package. They discovered they had incorrectly calculated our SAI score and adjusted our package with an additional $7,200 in institutional grants.

This is unfortunately common, but there are steps you can take: 1. Request an official review of your financial aid package. Use specific language: "I'm requesting a formal review of my financial aid award due to a significant discrepancy between the estimated and actual aid." 2. Ask what specific factors changed between the estimate and actual award. 3. If you have any special circumstances (medical expenses, job changes, supporting other family members), document these thoroughly for a professional judgment review. Regarding Parent PLUS loans vs. private loans: - Parent PLUS pros: Income-based repayment options, death/disability discharge, potential for Public Service Loan Forgiveness - Parent PLUS cons: Higher interest rate (8.05%), 4.228% origination fee - Private loans pros: Potentially lower interest rates for good credit, sometimes no origination fees - Private loans cons: Few consumer protections, limited flexibility in repayment, variable rates can increase One strategy many families use is to start with the Parent PLUS loan for the federal protections, then refinance to a private loan if you find a significantly better rate later.

Parent plus loans are AWFUL don't do it!!!! The interest is insane and it starts accumulating immediately! My parents took them out for my brother and they're still paying 12 years later!!! Go with private loans from a credit union if u have decent credit.

Update: I finally got through to the financial aid office today. They explained that their institutional funds were depleted by the time they processed our application, even though we submitted everything by the priority deadline. Apparently they process in batches and we were in a later batch despite submitting early. They agreed to review our package and put us on a waiting list in case additional funds become available. They also suggested appealing based on the fact that we have another child starting college next year, which wasn't captured in this year's FAFSA. Regarding loans, I'm leaning toward the Parent PLUS for the federal protections, but I'll compare rates with a few private options first. Thank you all for your advice - it really helped me approach this conversation prepared!

wait i'm confused about something... doesn't the FAFSA already tell schools what your SAI is? how can they estimate one amount then give you something completely different if they're using the same formula? something doesn't add up here