My kid’s best buddy is from a well earning family but they are trying to pay off high mortgage on a fancy house, sending kids to private catholic schools, support two sets of grandparents in Nepal and may be some other reason kid doesn’t know. He is worried that he wont’t get any aid and they won’t pay for anything above local state school so what can he do to earn merit money and some financial aid?
All I could recommend was NMF and taking a gap year. What else?
He should focus on applying to schools that are known for giving significant merit aid.
FYI
http://www.kiplinger.com/tool/college/T014-S001-kiplinger-s-best-values-in-private-colleges/
The reality is that he probably won’t get financial aid. Most merit aid does not depend on family income, so if he has good stats he may get some there. One shouldn’t rule out the many fine public institutions, inasmuch as the parents are willing to pay for those.
With that kind of income, he’s not going to get need-based financial aid. Having a pricy house, sending kids to private school and supporting extended family members aren’t extenuating circumstances. He needs to focus on merit aid. What kid of stats does he have? What does the local state school cost (to help in understanding his budget).
What’s wrong with the local,state school…especially if his parents will fund it?
With $240,000 in income, he will not get need based financial aid anywhere. Was he exacting to get need based aid?
Well…if he got acceoted to Yale, and had two siblings in college, he MIGHT get some need based aid.
He would be smart to look for schools where merit aid for his stats are a possibility. He needs to keep in mind, however, that at the more competitive schools that also give merit aid, it’s going to be a very competitive application pool.
$240,000+ income here. 2 students in college. Receiving pretty good need based aid.
You had to appeal you aid…and it was granted based on extenuating circumstances you presented to your college. Your college made a professional judgment to increase your need based aid.
MOST families with $240,000 in income will not receive need based aid even with two in college.
is this student a senior?
is he a NMF
what is major and career goal
@CaliCash At a school that meets need, where acceptance isn’t to be relied on. OP needs safeties (i.e. schools w/automatic merit)…
Many schools in their NPCs as some non HYP ivies do ask about siblings attending private schools. How is that factored?
DS was all ready to go to state Flagship, but he got Merit Aid from a private school that stated it did not give much merit aid. DS was NMF, but private college said no merit aid based on that. They gave him merit aid anyway. It made all the difference. He is there now, loving his college. We are upper-middle with four kids We are so grateful for the merit aid.
He is a junior. Idk his exact stats but he is in top 1% in a good school so stats should be good too. I think he knows his PSAT but have to wait for NMSF cutoff announcements and current SAT. His parents are hoping to send him to UTD on free tuition merit scholarship and keep him at an uncle’s home to save on housing. He has some better programs in mind and doesn’t like UTD.
He needs to get the details from his parents about how much they are ready, willing, and able to contribute toward his education. It is entirely possible that they don’t have any spare money for that. It also is possible that they do have some spare money, but aren’t going to shell out anything more than what commuting to UTD costs. If that is the situation, then he needs to get real about his options. Here’s another yolasite link he should check out: http://competitivefulltuition.yolasite.com/