<p>So this question is mostly going to be about if my financial situation qualifies, since my academics most definitely do. Here's my situation:</p>
<p>-low income (almost no income except investments, both parents have no jobs, but they are both professionals, just due to the economy)
-above average assets (my parents have paid off on our own house and investment real estates for a total value of around $500,000)
-it will be impossible for my parents assets to translate into money for college since they are both unable to find jobs, which they have tried for 5+ years now, and the money is simply just draining away, as I understand, it is much harder for older people to find jobs in this economy
-although my parents cannot pay for college, since it is a huge significant amount, we live a nice middle-class lifestyle which I am very thankful for
-after my four years of college, my little sister immediately starts her college, that would be $400,000 over 8 years........ $500,000-400,000=$100,000 for my parents to use for the rest of their lives</p>
<p>Does this qualify me for Questbridge? Since I do not come from poverty or inner city areas? Thank you so much for your help, I am trying to figure out if applying to Questbridge would be worth it, or if I should just apply ED to my dream school.</p>
<p>Actually, the question is, are you a member of the underrepresented group that the QB colleges are interested in seeking out - namely academically high achieving students from low income families. $60,000 is the approximate income limit that QB set, with “average” assets. A sad story is not necessary. </p>
<p>Your chances, as with all applications, depend on how you compare with the other applicants this year. The only sure way not to qualify is not to apply.</p>
<p>You may well qualify as a Questbridge finalist; I don’t think you have to submit any financial paperwork to QB itself. Nevertheless your family’s assets might disqualify you from being accepted during the Match Round where a free ride is guaranteed. Some colleges won’t take you in the Match Round unless your EFC is zero.</p>
<p>In the RD round, your assets will be analyzed via the CSS Profile and the amount of financial aid you receive will vary by college. This could vary greatly in your situation, so apply to numerous schools. Home equity may or may not count. Usually 1/12th of parents’ assets per year are expected (and 1/5 of the student’s assets), but there is some exclusion allowance for retirement reserves as parents approach 60. Money in a retirement account is often exempt. </p>
<p>You’ll certainly get some financial aid, but perhaps not as much as you’d like.</p>