<p>I'm referring to Harvard, Yale, and Princeton's policy to only require parents to pay 10% of income with incomes 120-200k...however, I also hear people include Stanford in this group (hence HYPS) that 'provides very generous aid to the upper middle class'. </p>
<p>So, is Stanford really a part of this group of HYP (in other words, is its fin aid policies typically as generous)?</p>
<p>I thought the generous financial aid faded away for those with incomes in excess of $150,000 a year (there might have been one school where it went up to $180,000 a year). </p>
<p>Also, remember these policies also say “with typical assets”…whatever that means.</p>
<p>So, even if that’s true…does a person with a $200k income pay only $20k, but someone who makes $205k pay $55k? WTH? That would be weird!</p>
<p>I am quite sure that the generous financial aid incentives do NOT go up to the $200K level of income.</p>
<p>Re: what they pay…remember…these are considered need based institutional awards.</p>
<p>Sorry, I meant up to 180k income level.</p>
<p>“Families with incomes up to $180,000 have an average expected parent contribution of 10 percent or less of their income and, as we continue to take individual circumstances into consideration in our assessment of financial need, many families in even higher income brackets also receive substantive financial aid.” </p>
<p>[Harvard</a> College Admissions § Financial Aid: Harvard Financial Aid Initiative](<a href=“http://www.admissions.college.harvard.edu/financial_aid/hfai/index.html]Harvard”>http://www.admissions.college.harvard.edu/financial_aid/hfai/index.html)</p>
<p>At Princeton, the 140-160k income bracket was expected to pay 16% of tuition, and less % for below that bracket…</p>
<p>[Financial</a> Aid - Princeton In Brief](<a href=“http://www.princeton.edu/pr/admissions/u/brief/aid/]Financial”>http://www.princeton.edu/pr/admissions/u/brief/aid/)</p>
<p>“…families earning $60,000 to $120,000 will typically contribute from 1% to 10% of total family income. The contribution of aided families earning above $120,000 will average 10% of income.”</p>
<p>[Yale</a> Cuts Costs for Families and Students | Financial Aid | Freshmen | Office of Undergraduate Admissions](<a href=“http://www.yale.edu/admit/freshmen/financial_aid/yale_cuts_costs.html]Yale”>http://www.yale.edu/admit/freshmen/financial_aid/yale_cuts_costs.html)</p>
<p>Is Stanford’s typical aid similar or not to HYP?</p>
<p>At some schools, assets are key and nobody has a clue what typical assets are.</p>
<p>
[quote]
many families in even higher income brackets also receive substantive financial aid."[/qjote]</p>
<p>I think THIS part of your quote answers that question about those who earn more than the “limit” for the “generous” 10% limit.</p>
<p>Yes, Stanford has similar aid. One difference a family I know encountered was that some of these schools count home equity and others don’t. This made a difference as that that seems to push many beyond their definition of ‘typical assets.’</p>
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<p>So, what happens if you make $165,000? does the 16% jump to 100% or what?</p>
<p>I do not know for sure about Princeton, but generally when there’s an upper income limit for aid, the increases above that income are incremental. Otherwise familes can just cut back on their income and save more money then they’d make if they remained just above the limit.</p>
<p>You can always call and check on that at any specific school, but that’s normally how it works.</p>
<p>A quick Google Search for “Financial Aid Typical Assets” turns up the below from Stanford’s website: [FAQ</a> : Stanford University](<a href=“http://www.stanford.edu/dept/finaid/site/faq/index.html#faq_1]FAQ”>http://www.stanford.edu/dept/finaid/site/faq/index.html#faq_1)</p>
<p>What do you mean by “typical assets”?
For applicants who report total annual parent income up to $100,000, we generally consider “typical assets” to be an adjusted total net worth of less than $250,000. Adjusted total net worth usually reflects the sum of the following amounts:</p>
<p>Cash, savings, checking
Investments
Home equity, capped at 1.2 times annual income
Equity in real estate other than the home
Business net worth</p>
<p>We do not include formal retirement assets (401k, 403b, IRA, Keogh) in our analysis. The Financial Aid Office reserves the right to make the final determination of the expected family contribution, in consideration of all factors affecting a family’s overall financial situation and ability to pay.</p>
<p>I guess the BIG question…do you folks who are asking think that families with incomes of greater than $160,000 a year should get need based aid? I don’t.</p>
<p>Some feel that schools that offer generous merit packages are “buying” top students. Maybe this “pseudo-need” policy for higher income families is a twist on this same approach at the top schools who don’t offer merit aid.</p>
<p>“I guess the BIG question…do you folks who are asking think that families with incomes of greater than $160,000 a year should get need based aid? I don’t.”</p>
<p>A HYPS tuition would be 30% of their income, so no, they probably wouldn’t be able to afford it out of current income. We don’t know how long they have earned that amount, how well they saved before now, or how many years they have before retirement to pay back loans. </p>
<p>They might have an EFC below 50,000 and would qualify for some need-based aid.</p>