<p>Hi, I'm wondering how much FinAid I would get from Cornell, UPenn, Columbia, Harvard etc. BTW the reason I chose those schools is because they claim to offer financial aid to Canadian, American, and Mexican students equally. I'm just wondering generally how much my family would be expected to contribute. I know the figures will vary but I just want a ballpark.</p>
<p>Stats:</p>
<p>Family income: $160,000 USD/yr
House: $720,000 USD, No mortgage
Parents age (at my time of enrollment): 53, 57
Savings: ~$100,000 USD
Single child
My dad works for an American company (I don't know how this will affect anything?)</p>
<p>Really? We will have to pay full? Thats like $50,000+ Canadian a year. I don't think that even with our income and assets that will be reasonable considering my parents are nearing retirement. Will need-blind universities really consider this reasonable?</p>
<p>Yes, I'd be shocked if you got a cent. The salary alone, but no mortgage on a $700K home? Only child? My guess is nothing. Colleges assume your parents have been saving for college.</p>
<p>Well I guess I'm not going to college in the states... :'(</p>
<p>The reason my parents only have around $30k CAD saved for college is that university in Canada only costs around $15k CAD a year...</p>
<p>Oh no what am I gonna do!?! They will NEVER foot a full tuition bill... I guess thats the problem with being completely self motivated. My dreams are crushed :'(</p>
<p>I just hate these stories. Were yor parents honest with you from the start? Try outside scholarships and schools with merit money. They may not be ivies, but there are lots of good US colleges that give merit money, Duke most notably. If you can get into an ivy, schools like Wash U and Vandy are likely to offer you merit aid. Don't give up!</p>
<p>My parents were honest with me I guess... Its probably my fault for not telling them at 14 that I had Ivy Aspirations. They only really laid it down for me straight recently though: 50k Cnd/yr, not happening! The problem with merit money is how inconsistent it will be. This is really crushing for me... 2 years of college research and prep, all the clubs and volunteer hours, studying, and now it looks like I'll be going to McGill, where everything except Gr 11 Avg means jack ****. I guess there always my grad degree. Another question, how bad is it to graduate with 100k in debt? Will a grad from Columbia/Cornell be able to pay off 100k in debt with a good job in a reasonable time period? Thanks,</p>
<p>Family income: $160,000 USD/yr
House: $720,000 USD, No mortgage
Parents age (at my time of enrollment): 53, 57
Savings: ~$100,000 USD</p>
<p>Median household income in the US is about 46K USD. Very few have homes that are paid off, and few have 100K USD in savings.</p>
<p>Your family appears to be in great shape financially-- probably in the top 5% income in the US. Congrats!</p>
<p>Financial aid money doesn't come from nowhere-- federal financial aid comes from taxpayers, mostly high income taxpayers (like your family-- although I don't know whether your family pays US taxes), and goes to more needy applicants. I'd focus on merit-based aid.</p>
<p>Wow, you are in better shape than nearly everyone I know. You're min MUCH better shape than our family & we don't qualify for any FAid & have 2 kids. Merit aid is a possibility, but ivies DON'T give merit aid (non-ivies of similar rank sometimes do).</p>