Hi, my daughter just received her financial aid package. It turns out that parent contribution almost double from last year. The explanation from financial aid office is that our family income increases. It appears every 1 dollar increase in income after tax, 70 cents go to university as extra parent contribution.
does anybody know the formula how much % of parent income becomes parent contribution?
Thank you.
I’m surprised that the percentage isn’t higher. Perhaps the school is accounting for increased cost of living due to inflation?