CSS Profile- Canadian Citizen, Married Parents live in different countries

@philotharrison>(taxation is theft guys)>

Ah Canada. You pay for what you get. Your education in a canadian uni (wow, love those rates, Quebec? Mcgill wow), UHC (well, U ish). It seems duals don’t do so well, but that might be a warning really, for you if you want to spend some of your life in the USA. The taxable income type of life. The taxation as theft is ironic when you want someone else to pay for your top (ish) US school, no? It makes me sad to hear that kind of comment from a kid who should look at any way possible to make the future more equitable. Canada has probably been so good for almost any immigrant. Your parents might get to say such a thing, but from a kid? That sounds ugly. And even I don’t like the look of Canadian taxes for dual US/Canadians.

Good luck. Your primary residence is where YOU reside. That is with your mom. Your parents have made a choice to live apart for job purposes…AND own a second piece of real estate. Oh…and it’s worth is about a million USD.

You have a million and a half dollars of real estate…with a $770,000 mortgage balance…so your parent have roughly $750,000 in home equity. Let’s say…that and their $300,000 in savings puts you over the $million mark!

Do you really think U.S. universities give need based aid to families with a million dollars in assets?

The net price calculators are not particularly accurate when international students use them. So take the results with a grain of salt.

Go ahead…apply wherever…but understand…the money might not be forthcoming from the colleges just because YOU think it should be. Colleges do not give need based aid to subsidize ownership of second homes.

In addition, a large number of Profile schools also assess part of your primary home equity in their equation for awarding need based aid.

Hoping you also have some affordable schools on your list!

You can apply to Cornell…and wait and see. Maybe we are all wrong…and they will give you tons of money to attend. How much do you need??

The equity will be subtracted from the value, but either parent will be expected to be able to sell their residence when they retire.

You can look for Universities with merit scholarships but I’m not sure they’d be better than Canadian universities.

(Please don’t say taxation is theft. It doesn’t sound good from a kid who benefited his whole life from the Canadian system and has excellent, affordable universities thanks to it.)

This is NOT the college’s problem. Oh…and while your dad will be required to retire from his current job…who is to say he won’t get another job while also collecting his pension. Colleges are NOT going to award you aid based on your crystal ball.

You have to understand that US colleges don’t have the money to subsidize US citizens whose parents own a 2nd home, or have a million dollars in assets, or who will retire at 55 with a pension. Your family has all of that and you’re an international student. Do the colleges in Canada offer a lot of need based aid to internationals? It’s wonderful if that’s affordable for them. That isn’t the case here.

If US colleges are too expensive for your family, make sure you have financial safeties lined up in Canada and/or Hong Kong. You want to make sure you have options in the spring.

Did you apply to places where you would get significant merit aid…like University of Alabama? They give their merit awards to international students…and family finances don’t enter into the picture at all.

But the flagship campus deadline has passed. That was December 15.