Economic Crisis affecting Scholarships?

If a kid commits and then comes back to ask for more money, he'd best be prepared to be shown the door, unless there are truly difficult circumstances (parent loses job or major disability/death situation). I don't think many programs would cotton to that.

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Let's say a kid accepted a verbal offer, and with the economic changes, comes back to the school and says my parents can't afford it now. Either I need more scholarship $$, or I'll have to go to a JUCO or an in-state school.

Or, maybe a current roster player who asks for more for the same reason?

I do think that colleges will see the above scenario played out.

As to them getting more money for the player who gave the verbal, I doubt that will happen.
It would be nice if my doubts were wrong.

A college has 11.7 scholarships to give out, or less if the program isn't fully funded. The general state of the economy isn't going to change the 11.7, and if anything might cause more programs to be not fully funded. (Although I think most colleges have a long time horizon, and their funding of programs in general won't be strongly affected.)

So I don't see how a poor economy makes it possible to give more money to those who need it. I imagine that programs are already using their scholarships as efficiently as possible, in order to bring in the largest number of talented players.

Think about it in reverse: when the economy is better than average, do baseball programs see that as a reason to give some player less money?

Don't be surprised if the coach asks you for financial background before he hands out scholarships.

Players with parents who are financially comfortable are being asked to give up their scholarship money to allow those who don't to join the program.

Things have changed, if a player verballed a year ago and their situation has changed (parent s are unemployed), by all means discuss it with the coach.

This is called the "Financial Fit" portion of recruiting. If a verbal has a change in financial circumstance, good reason to break it. If an NLI has a change in financial circumstance, good reason to get a release. If a current student has a change in financial circumstance, get the hardship exception from the NCAA to transfer without sitting.

The student loan given to kids is about $3000. Parents can borrow the rest. If the parent has lost their creditworthiness due to loss of employment, the student can get an additional $4000-6000 no questions asked. If $7000 of student loan plus the baseball grant and any exempted academic aid amount leaves a deficiency greater than the parents can pay, then the financial fit is iffy at best.

For 2009 grads where parents can't get a loan, your approximate formula is this:

COA less $7000 less baseball grant less exepted aid, for example State University is $20,000, you get a 25% baseball grant and no academic money. You max the student loans at $7000. $20,000 minus $7000 minus $5000 equals $8000 expected family contribution plus ancillaries and sundry such as extra food, travel,laundry etc.

Want to be frugal? I know someone who put all three daughters through college on his Air Rewards credit card, then systematically paid them off with an equity line. He hasn't paid for a flight in 7 seven years of doing this.

If parents had filled out the forms at the beginning of the year for PEL Grants, they can fill out a Change of Circumstances form and potentially get a grant. Unemployment, illness, divorce, death of a parent are all considered.

Yet another reason to fill out those forms every year you'll have a child in college ---- you never know what the year might bring.

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Originally posted by OLDSLUGGER8:
I know someone who put all three daughters through college on his Air Rewards credit card, then systematically paid them off with an equity line. He hasn't paid for a flight in 7 seven years of doing this.

Did his CPA give him that advice?

.

It's true he hasn't paid for a flight in years.

And it's also true that he's lost every single piece of carry on luggage...