<p>This is my first cc post! Just discovered cc, after my DS got EA. Wish I had found it before. When we got his admission info snail mail, the fin aid package said we wouldn't get anything from Stanford. Our income is below $100K, but our assets are a bit above the "typical assets for our income", thanks to frugal scrimping, driving old cars, taking super-cheap vacations, etc. Thankfully, we are not nervously awaiting admissions decision, but we ARE anxiously awaiting the fin. aid info. And I am seriously considering not working anymore to keep the income down. I could never earn enough to pay for the tuition, but if I don't work, our income will stay below $100K. Anyone else in this situation?</p>
<p>Gladmom,</p>
<p>Welcome!</p>
<p>My son was also accepted early action. I emailed the financial aid office and they weren't really forthright with what they consider "typical" assets. I would be careful about making major changes (i.e. quitting your job) without knowing exactly how it would affect your son's financial aid package.</p>
<p>The financial aid office was helpful in answering other questions though.</p>
<p>Sorry I couldn't be more helpful.</p>
<p>Welcome! </p>
<p>Here is a link giving info on typical assets:
Stanford</a> | Financial Aid Office |</p>
<p>EA financial aid letters are simply estimates based on the financial aid policy at the time, which has since changed in the last few weeks. I would definitely contact the financial aid office to see if your situation changes.</p>
<p>Also, the $100k income is not a hard cutoff, since there's a sliding scale. An official with the financial aid office was quoted as saying, don't worry if you make slightly over that, you're not going to pay a huge amount. For example, if someone making $200k would pay full tuition, then you would pay 1% of tuition for every $1k income over $100k. I'm just making these numbers up, but you get the idea.</p>
<p>im_blue</p>
<p>Thanks for posting. I've also heard that $100K isn't a magic number and they use some type of sliding scale.</p>
<p>Thanks to all. I'm going to just wait for the financial aid package, which should come at the end of March or beginning of April. They said they are going to get a calculator on their web site over the summer to help you figure out what's up for the next year. If that doesn't help, I'll definitely call fin. aid. I figure at this point there is nothing we can change or do about anything--just wait for the word from on high. I am almost as nervous waiting for this info as we all were for the EA decision.</p>
<p>Just thought I'd finish up this thread with a copy of a post on another thread of mine...</p>
<p>My financial aid obsession is over now, and I have to say that our family is NOT feeling scholarship envy. Stanford's new enhancements lived up to the claims for our household. In the Stanford Daily article that detailed the changes, they said "This formula will smooth out expected contributions so that those earning just above the respective cut-offs will not see a significant increase in expenses. " So true for us. And there were no loans in the package. I wish all students everywhere from middle income families could be treated the same way.</p>
<p>I am Stanford's biggest fan right now. We'll be paying what we would have paid for in-state flagship. The amount we have saved over the past 17 years should cover it and my son gets to go to Stanford! Life is better than good.</p>
<p>gladmom!</p>
<p>So happy for your family!</p>
<p>Hope your son can make it to Admit Weekend!</p>
<p>FresnoMom: Thanks! He won't be coming to Admit Weekend. Believe it or not, he doesn't want to take time off of school--too hard to catch up--multiple AP classes, etc. We said we'd pay for the ticket, but he says no. He does work very hard, but he takes time for what he loves to do as well.</p>
<p>He has been on campus a number of times already--actually spent a week there one summer at a running camp, stayed in dorm and loved it. He's there in mind and spirit already.</p>
<p>Has your son decided if he is going to Stanford? Is he going to Admit Wknd?</p>