Let’s say for a private university, like Emory. How much financial aid, if any, will students from wealthier families get?
Definition of wealthy?
Parents combined $200,000
What did the Emory Net Price Calculator tell you? It would know better than us.
Each school has NPC on its website. Run your numbers and see.
Some schools give non-need-based MERIT aid that is awarded irrespective of family income. Emory is not a generous giver of merit aid.
The only money I have seen at many schools is merit for wealthier families.
Students from wealthier families may get FA if there are two or more students in college at the same time. This does not apply to all schools.
With one student in college, your son would likely get nothing from Emory. Run the NPC. If you have retirement contributions, add those in
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I’m looking for some good universities for CompSci/Cognitive Sciences with Artificial Intelligence focus. My son has a 32 ACT with a 3.8 GPA. Could you give me some reaches and matches? No public universities or Ivy League levels! Thanks!
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I don’t remember if Emory gives merit, but his stats would not be high enough.
$200,000…is that after or before taxes?
Regardless…in terms of need based aid…younorobablynwontnsee need based financial aid even at the most generous colleges.
Were you expecting to receive need based aid with a family income of $200,000?
If you couldn’t afford the private schools’ tuition & fees, try in-state public school
Emory is also an CSS Profile school. They will also factor in the equity in your house (at least they did in our case).
If you run the college board EFC estimation tool, the institutional method EFC will be the center of the range of prices you will get from top colleges.
If you have a strong academic record, you can look for merit aid at schools a notch or two down on the prestige scale. The collegedata.com website is good for identifying schools where large numbers of students get merit awards and typical amounts.
If your family cannot stomach paying 65k/year, then do NOT apply to any private schools where there’s no possibility of merit aid.
Every year I read on CC about students who apply to a pricey “dream school” just to see if they can get in. When they discover to their surprise that they are admitted, a lot of heartburn/heartache/bitterness ensues when the parents make them turn down the admissions offer.
And also be realistic. Just like you may apply to a school that is a reach for you, your likelihood of merit aid may also be a big reach. If you get in but do not get the aid, you have to accept that and move on to something else if there are not funds to be full pay.
From other threads, it appears that the OP is the student’s parent.
So…to this parent…if you canto or won’t pay full price at an expensive private university that does NOT give merit aid…perhaps those should not be on your child’s application list.
If you have a college budget, please make that clear to your child BEFORE he sends applications out. Make it clear that you can pay $X per year. He can apply to and attend any college where that budget amount is met.
With $200,000 in income…it’s not likely you will be seeing need based aid…anywhere.
What are your kiddo’s SAT or ACT scores…and GPA? It is very possible he is a contender for decent merit aid at some colleges. There are plenty of colleges out there that cost less than $65,000 a year…and plenty that would cost less than that with merit aid tossed in.
If finances are an issue…target schools where merit aid is offered for your kid’s stats.
Read the links in this thread. But do check the colleges to see if these awards are still available.
With a $200,000 a year income and one in college, you will not get FA from Emory. The good news is that if your son/daughter can get into Emory, there are likely other schools out there that will give him/her some merit.
My daughter got into Emory with FA for year one (two in college) but no merit. Her FA was going to disappear as soon as her sibling graduated. She was able to get a very significant merit award from Lehigh.
I think the OP’s son has an ACT 32 and a 3.8 GPA. CS major. I think the family will only consider private univs
^^ If that’s the case, the OP needs to be prepared to be paying $60k a year, at least until a second student is in college, and perhaps even then. The ONLY schools that will consider FA to families at that income level are the uber-elite (HYPS) and the student does not appear competitive for one of them.
Do we know what state this family lives in? So many flagships (and other public research unis) have good CS.
The student can apply to Emory scholars, that’ll give him an idea of how competitive he is for merit aid at top schools.