Who knew? Negotiating college costs

[LWJ]

I am a life-long sales person. Negotiating is what I do for a living. I like it. I am good at it.

I have a daughter who is in the middle of college applications and such. She is an exceptional student and tests very well. Our household income is at the level that means we are on the hook for everything by the measurement standards of the colleges.

My daughter is insistent on attending a small college. We have 5 acceptances back and 5 differing financial aid offers. I told my wife and daughter early on that I would have discussions / negotiations with the colleges in regards to their offers. WOW. Little did I know that this is really a thing. The one school that I have started with has an appeal process. And, they asked me for our "number."

This has gone from something that is uncomfortable for my family to something that is a natural and daily process for me. What is odd is that nobody talks about horse trading for college aid. Fascinating because there are very large dollars at stake here.

1. I thought it might be useful to spread the word.

2. This may trigger some interesting conversations.

TIA!

[Rick Lee]

Let Mrs. Lee have a shot at them. They'll be paying you. She is from China and will walk from a $5 delta on a $1000 purchase. She makes you feel sorry for the used car salesmen.

[masraum]

I hate negotiating. I rarely do it but have a few times. I'm far more likely to not even bother. If I'm looking to buy X, and I'm willing to spend $Y to get it, I'll ignore anything that's far from $Y. I will wait until I find $Y or very close. I may or may not try to haggle if it's close. I wish I did it more. I've never really seen it happen to understand how. If it came down to $5 for something that was $1000, I'd pay $1005. If it's $1200, I'd just walk. And if a sales person wants to ping pong for days to slowly work down to $1000, it'll never happen because I'll just walk.

I do know that it's surprising at the stuff that you can negotiate on here in the states since it's not a cultural thing like it is some places, but I'd have definitely never have expected it to work at a college.

Are these private or public schools?

[LWJ]

^^^Steve - all private

And to Rick. I bet Mrs. Lee would be amazing. The negotiation culture outside of the US is intimidating.

[KFC911]

I'm like Steve .... and just suck at "horse trading".... usually always giving someone a "deal" when I sell something or just gifting it.

It's just not how I tick. But I will just walk away without a nose too

Good for you .... well done !

[stevej37]

I'm going to give it a try the next time at the gas station.
90 cent spread from reg to prem is absurd.

[flatbutt]

Uni attendance is down, way down. They need to get classes filled. Doing so with a bright kid is a plus for the Uni.

[Tobra]

Everything is negotiable, everything

[stomachmonkey]

I was successful hondling with my daughters school, my sons, not getting anywhere.

[stomachmonkey]

Originally Posted by LWJ

^^^Steve - all private

And to Rick. I bet Mrs. Lee would be amazing. The negotiation culture outside of the US is intimidating.

Many cultures, like the Middle East, will get insulted if you DON"T negotiate.

[PorscheGAL]

I love this.

My son had the grades and test scores to receive lottery scholarship money to pay all his tuition. Big plus to me since I am the one who educated him.

I love Rick Lee's comment.

I wish you luck on negotiating a great price on your daughter's education.

[Crowbob]

Making an offer they can’t refuse works well so far.

[stevej37]

Do you have to talk to the pump screen? Or if having to go inside...who do you ask for?
I get no wheres with the pump screen.

[Crowbob]

Originally Posted by stevej37

Do you have to talk to the pump screen? Or if having to go inside...who do you ask for?
I get no wheres with the pump screen.

The negotiation in your scenario is not about the price of the gas.

It’s about whether you want to drive a car or not.

[stevej37]

^^^ Nope...it's about the price diff between reg and prem.
Very important.

[wildthing]

I need to do this in the next few months. Please share any tips or I can DM you. (There's also a forum where this is discussed called College Confidential.)

I am aware that I need to negotiate, I just need to know how far I can go.

There are also business that have sprung up where you pay them a certain amount and they will negotiate for you - College Aid Pro is one of them.

[Crowbob]

Ahhh.

[Noah930]

Going through the same thing now. Will follow this thread with interest. We will have to negotiate as well. That FAFSA number is almost laughable/insulting/depressing. We may try the "Well school ABC is offering an out-the-door price of $x as you can see by their letter of acceptance. However, you're the school my kid really wants to attend. Can you meet their price?"

[Noah930]

One lesson I've learned (but too late to be useful): if you open a 529 plan for your kid, don't do it in your name/SS#. Have a trusted family member/friend do it under their name, but with your kid as the beneficiary. You can fund it over the years as if it was under your own name. That way, those savings won't be held against you when filling out that FAFSA.

Obviously, that plan won't work out for everyone. But I'm close with my sibling/parents, and Mrs. Noah is close with hers, so no fear that they would abscond with the money.

[Zeke]

My standard final offer comes with this, "I'm here and have the money in my pocket. You want to sell it or keep waiting for a real buyer amongst the tire kickers?"

If they don't acquiesce, I walk.

A good book on this is Never Split the Difference.