<p>Ok, so according to some EFC calculators online, my middle-upper middle class family is expected to cough up $36,000/y. There is now way that we can afford that, especially since we have just moved to the states and are looking to buy a house as well. If i apply to Cornell, and am accepted, will they expect me to pay $36,000? And will this also be the case for most of the private universities?</p>
<p>Cornell will use your EFC, in conjunction with the CSS Profile, to decide your aid award. The Profile takes into account income and assets. You may also want to look at this other thread:
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/597398-financial-aid-cornell-university.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/597398-financial-aid-cornell-university.html</a></p>
<p>If your EFC is $36,000 as computed by CORNELL (no way to know what Cornell will compute as they use the Profile which does not give an EFC per se), then YES the school will expect your family to pay that amout.</p>
<p>The colleges feel that they should be your family’s financial priority. </p>
<p>Bottom line is that most middle and upper middle class families feel they can’t afford what colleges think they can which is why state schools are so popular.</p>
<p>Though if you buy a house with some of the assets included in determining the EFC, you would have a lower EFC at Profile schools until the hose appreciates in value.</p>