<p>What is the income cut off for Financial Aid? Say, your parents together make $205,000 a year before taxes take away some of it. Would we be eligible for aid?</p>
<p>There are a number of finaid calculators you can use to estimate your expected family contribution. I would suggest you use one of those to get an idea of how much your family might be expected to contribute to your education. </p>
<p>If you want my opinion, I would say it is unlikely that you would be eligible for need based aid with an income in excess of $200,000 per year...unless you have multiple siblings in college at the same time as you will be in college (i.e. four or five kids from your family in college at the same time).</p>
<p>spaz,</p>
<p>It depends on the COA and other aid you receive. I have had several students who have made in excess of the figure you referenced who have received Stafford Loans. Need based aid, such as subsidized Stafford Loans or Pell Grant would probably be out of the question, but you may still qualify for Unsubsidized Stafford Loans.</p>
<p>Nikki, doesn't anyone who completes the FAFSA get offered Stafford Loan? Depending on your amount of demonstrated need, some or all of it could be subsidized. Otherwise it would be unsubsidized...or at least that is what I thought.</p>
<p>It depends on the institution and institutional aid that is offered. I have seen students who have reached their COA with grants and institutional funds and not be eligible for Stafford Loans of any kind. I guess the school could always take away some free money so the student would be eligible for loans, but wh would they want to?</p>
<p>this might be stupid, but what is COA?</p>
<p>COA = Cost Of Attendance. It is an 'average' cost that is used to calculate financial aid - COA less EFC = need </p>
<p>COA generally consists of tuition and fees, room and board, books, miscellaneous expenses, and travel.</p>