<p>Does anyone know if any of these schools usually give more money to people w/ around 100k income?
Northwester, WashU, Cornell, Chicago, Stanford
thanks!</p>
<p>I'm really confused, all my life my parents have done their best to teach us how important education is. We have scrimped and saved and done without what most of you on here consider needs. We don't eat out, (not even McD), have never had a "latte", don't know when the last movie was, have one car(1979), use public transportation etc. but we own our home, valued at $150,00 and pay cash for everything. We have saved enough for one year of college and therefore it appears we will not qualify for any need based aid. I am sick, I want so badly to go to an elite college and to surround myself with opportunities. Any advice on getting aid?</p>
<p>I suggest using the online calcuators to estimate EFC using the federal or institutional methodology josmith.
Some schools have additional forms that can either identify more assets or more need.</p>
<p>Greenone good job for your parents paying off their mortgage, That is quite an accomplishment. Still schools will then see that the money that most people have for a house payment, could go to tuition
FAFSA mainly looks at income- it is PROFILE that adds in home equity.
You should probably also consider schools that don't look at equity</p>
<p>Also after you spend your college savings ( which is what it was for) I would ask about the possibility of then qualifying for aid.</p>
<p>green, i agree with you. I have found out that the more responsible financially one family is, they more or less get penalized by not being able to get financial aids. I will have both of my sons in college next year and I was hoping we could at least get a little help, but according to the EFC calculators, no such luck.</p>
<p>Thanks for your replies, we have done the calculators, but I think it came out to 0. Although my parents earn about 100k gross, they still pay 20k in taxes. They just don't get the planning and arranging $ to the best advantage. They tell me we should live within our means, period. I'm so scared that they will use their savings my first year and then an emergency will hit. The money saved is enough for one year or ??? it is not like they have other money set aside. It's so hard to hear about the aid packages some students get while driving BMW's and shopping as recreation. I think I heard there are even caps on how much loan $ a student can take out.</p>
<p>Some schools are actually doing something to aid some families who are middle class.
[quote]
Reinforcing its commitment to opportunity and excellence across the economic spectrum, Harvard today (March 30) announced a significant expansion of its 2004 financial aid initiative for low- and middle-income families. Beginning with the class admitted this week, parents in families with incomes of less than $60,000 will no longer be expected to contribute to the cost of their children attending Harvard. In addition, Harvard will reduce the contributions of families with incomes between $60,000 and $80,000.
[/quote]
</p>
<p>My daughter was also able to receive a large enough need based grant from Reed college ( although it apparently depends on more than need), for her to attend.
However, if that aid package had not been doable- she had other choices that were more affordable and didn't rely on PROFILE as well as offered merit aid.
While it is helpful to have the general idea of EFC that the calculators give you, they are not a substitute for the aid office</p>
<p>* unfortunately- I don't think that paying 20K in taxes is unusual- especially when you add in state and local taxes to federal monies owed*
<a href="http://money.cnn.com/2006/03/07/pf/taxes/payers_nonpayers/index.htm%5B/url%5D">http://money.cnn.com/2006/03/07/pf/taxes/payers_nonpayers/index.htm</a></p>
<p>Hello greenone. i just enrolled back into college after being out for 6yrs. I was able to get my college cover thru Sallie Mae and the schools financial program. I was also able to get a grant.(small) I'am know searching for whatever i can find for the next semester. I worked a low paying job last year and that seem to help me when i did my taxes. I believe if you research well and maybe get a part time job and claim yourself i think you will find more ways to pay for it.</p>
<p>Sven don't even think of getting a scholarship</p>