Eligibility for QuestBridge? Semi-Low Income, High Assets

Paying for College Access Programs (Questbridge, Posse)
1

Hi,

Basically here are our families stats.
Annual Income: ~$45,000
Primary Home Value: $350,000
Additional Homes (Rentals): $700,000
I will be First Generation to attend college.
Eligible for Free/Reduced Lunch
Family of four, my sibling is currently in undergrad however has a full ride to the school, so I don’t know how that will affect it.

My academic statistics are well off (UW: 4.0, 10th Grade PSAT: 1430, taking rigorous classes)

Would these make me eligible for QuestBridge, or would our assets be considered too high? Both homes are basically paid off and the rentals have a mortgage of less than 100k if that affects it.

Thanks!

2

Questbridge is a program for low income families. Yours has a million dollars in assets and $700k of it is in income producing properties. I don’t think your family will be eligible.

3

Apply and see. What is your EFC? Run a FAFSA estimator and see what that might be. Your rental property assets will be hit at about 6% after asset protection allowance. You may well not be eligible for much if any financial aid. Still, give it a go if you have any doubt.