<p>your costs for UPenn will be more than this because this is for the current year…each year will have high costs.</p>
<p>On Campus</p>
<p>Tuition and fees… $43,566
Room and board …$12,368
Books and supplies… $1,210
Estimated personal expenses…$2,284<br>
Transportation expenses… varies
Estimated Total …$59,428 …plus transportation</p>
<p>*And I’m sure my dad has put aside money for my college *</p>
<p>Don’t guess…ask…and ask how much he’ll pay each year. And ask how much he’ll pay for each child when you and your sister are in college at the same time.</p>
<p>Penn meets need, though. So if you get in, you will probably be able to afford going there, as they reconsider your financial situation each year.</p>
<p>Actually, he may not have “need” as most Us define it if for some reason he & both sibs were all attending college. I know someone who earned far less & they did not have any “need” as defined by the Us when they had several kids in college. $250,000+ per year is a significant income in the US & most Us expect parents/families to pay for college when they have that level of income. You need to talk with your folks.</p>
<p>S’s HS lab partner was accepted by UPenn & Boston U. Unfortunately, he got insufficient aid from UPenn, so sadly had to decline UPenn & attended Boston U (where he got generous merit +Faid), so I wouldn’t count on necessarily getting enough money from UPenn to be able to attend IF finances are a factor.</p>
<p>rocnation, you can get a handle on predicting costs by looking at the data at [College</a> Navigator - National Center for Education Statistics](<a href=“http://nces.ed.gov/collegenavigator/]College”>College Navigator - National Center for Education Statistics) Take a look at how much Penn cost the last few years. That will allow you to see how tuition and overall COA change in percentage terms from year to year. Then you can take the average rate of increase–or the highest rate of increase, if you want to be super fiscally conservative–and estimate how much each year will cost for the next few years. </p>
<p>You live in Southern California, right? That means you also need to figure living expenses into the cost of Cal in addition to tuition. Figure on $30k a year all in–dorms, meal plan, personal expenses, transportation and books.</p>
<p>$190,000 and up …median total awards $18,010 </p>
<p>Chances are, the students with incomes of $190k+ had 1-2 siblings in college and/or may have been from split families (two divorced households that together earned that much). </p>
<p>The calculations for 2 divorced families each earning $100k ($200k together) would be VERY different from an intact home where there is a single income earning $250k -300k. VERY different!!</p>
<p>and…there’s a difference between someone who earns $195k and has 2 kids in college, then someone who earns $260k and has 2 kids in college. </p>
<p>It’s unlikely that someone with an income of $250k - 300k would qualify for any aid…even with a sibling in college. The student mentioned that the parents likely have college savings…if so, then likely the parents have savings/investments as well. Unlikely going to qualify for anything.</p>
<p>So since my dad makes around $250000 it will be extremely unlikely that I will qualify for financial aid from UPenn especially since I’m doing ED (which generally awards students with less money).
Mom2collegekids mentioned that families at UPenn with incomes over 190,000 had a medium grant of 18000. I shouldn’t expect a similar grant?</p>
<p>You won’t get any need based aid from UPenn regardless of when you apply with your family income. UPenn doesn’t give merit aid.</p>
<p>Re pulling out of an ED acceptance, this student will NOT have any financial need. The school will not NEED to offer aid. Since the family contribution will be in excess of the cost of attendance, I can’t see how this student could be released from an ED agreement because the aid is insufficient. </p>
<p>You will not receive need based aid ANYWHERE…your family income is too high.</p>
<p>If your family would benefit from some kind of aid, you need to apply to colleges where you will get MERIT aid.</p>
<p>If you can get into Berkeley (or UCLA) and pay in-state tuition, I would do that, and save the money for graduate school. You are lucky to be in a state that has great state universities.</p>
<p>Mom2collegekids mentioned that families at UPenn with incomes over 190,000 had a medium grant of 18000. I shouldn’t expect a similar grant?</p>
<p>No, you shouldn’t. </p>
<p>You need to read that post. </p>
<p>My point was that the people who got grants with incomes over $190+ likely had DIFFERENT circumstances than YOU have. They don’t earn $250k… They likely have 2-3 kids in college…or they’re from split families.</p>
<p>That stat does NOT mean that everyone who earns more than $190k gets $18k. It means that SOME get a median grant of $18k because of their unique circumstances. </p>
<p>you seem to think that UPenn is giving $18k grants out to everyone who earns more than $190k. NO! </p>
<p>A single earner (your dad) who earns $250k-300k with one kid in college is not going to qualify for aid.</p>
<p>FAFSA also takes other factors into account including home value. However, you will not be getting any need aid, due to the fact that your income is 250 plus. You are in the top 1-3 percent depending on who is estimating. All the aid you can get will be merit based.</p>
<p>And when you think of the possible circumstances of who those few students likely are…</p>
<p>1) Students with 2 or more siblings in college. </p>
<p>2) Students with an NCP, so two household incomes totaled $190k+. No one should be surprised if CP family income + NCP family income totals $190k+, but the student still qualified for a small grant. </p>
<p>Others can correct me if I’m wrong, but I think the calculation is harsher when a very large income is earned by ONE parent rather than the same total is earned by TWO parents.</p>
<p>On the two-parent vs. one-parent income, at the private high schools in this region, families are told that both parents are expected to work if they are applying for financial aid. It makes sense. I certainly am no expert on financial aid.</p>