<p>What kind of financial aid, if any, do LAC's like Barnard and Middlebury an Reed college offer upper middle class families that can in no way pay 50k+ per year for college? Is there any hope?</p>
<p>They do offer good FA, but they also expect families to pay a fair share. The schools will look at the family income and assets and determine a “family contribution”. If your family can’t afford to pay that determined amount, then you won’t be able to attend. </p>
<p>The term “middle class” is a broad one. To some, it means those who earn around $50-60k per year. To others, it can mean those earning into the 6 figures.</p>
<p>Have your parents use the Net Price Calculators found on each school’s website to determine the aid you’d get and the amount they’d have to pay.</p>
<p>edited to add…I just noticed that you wrote “middle class” in your title and “upper middle class” in the body of your post.</p>
<p>What do you mean by “upper middle class”? A school may determine that your family should pay most or all costs.</p>
<p>Do run the net price calculators . . . but be aware that your family is expected to pay for college from three sources: current income, past income (savings), and future income (loans). If your family doesn’t have savings or isn’t prepared to borrow, you may find that your EFC (expected family contribution) is unaffordable.</p>
<p>If that’s the case, then you’ll want to focus on the many, many colleges (both LAC’s and state universities) that offer good merit awards.</p>
<p>Little incense…</p>
<p>You’re a soph in high school so you have time to find a workable solution…even if it’s not what your first or second choice might be.</p>
<p>Ask your parents how much they can pay each year. </p>
<p>Since you say “upper middle class”, a rough estimate will be that schools will expect your family to pay at least 33% of their gross income. So, if their income is $150k, then they will likely be expected to pay about $50k per year …this is a rough estimate…just a guideline.</p>
<p>So, if your parents say, "well, we can only pay $20k per year, " then you’ll need a strategy. Schools that mostly only give need based aid won’t work for you. You’ll have to find similar schools that give BIG merit aid for your stats so that the REMAINING costs will be the amount that your parents will pay.</p>
<p>Lacs do not all handle financial aid the same. Some, like the schools you mentioned, tend to use their money to meet what they consider to be the financial need of students. Use the net price calculators but, if your family is upper middle class, you may find that you cannot afford what they think your family should pay. Other lacs give merit aid to attract students they want. If you really want to go to an lac but need merit scholarship money, you need to try and find the schools that will want you. Obviously, the higher your grades and test scores, the more schools will want you. But you will also want to target schools where students like you (whoever you are) are unusual. For example, boys are often at an advantage when applying to lacs (girls can be at an advantage applying to engineering schools) but, since you’re willing to look at women’s colleges, that may be of help. There may be a women’s college that is generous with merit scholarship. Look for schools that may be interested in you for geographic diversity. Also, if you have a talent (sports, music), that could make you more desirable to the right school. Poke around cc and schools’ websites to see.</p>
<p>Colleges that meet full need expect families to sacrifice, i.e., no new cars, no exotic vacations, fewer meals out while receiving aid. Home equity loans. Life won’t be normal. In some cases it just doesn’t work out.</p>
<p>Great advice here that should be read by all parents/students before they start the college hunt. I know a number of “upper middle class families that can in no way pay 50k+ per year for college” who are, because they didn’t follow a strategy and let their child aim too high, thinking merit money would magically fall from the sky. By the time the acceptances rolled in, they didn’t have decent financial safeties and ended up having to make uncomfortable life changes to afford their child’s school.</p>