<p>If my family's income is under 45K but our home equity is about 500K, do I still qualify for no parent contribution? I'm so confused about all this!</p>
<p>Thanks!</p>
<p>My family's income is under 45 k and home equity is roughly same as yours, and my parents have to contribute about $6,000 in addition to my $3,000. I also got about $1,000 worth of loan. So no parent contribution rule only applies in the most ideal situation where you family "only" makes 45k /year and it is not very realistic.</p>
<p>well, you can't say it's not realistic. there ARE single parent families or very poor parents out there with students that go on to stanford and ivy league schools. not sure how many, but obviously enough to make these schools have this policy. </p>
<p>i'm guessing it also boosts admission since families in your guy's situation assume it means just job income and then don't feel discourage to apply and its good PR and also encourages those that really do make less than $45000 to apply.</p>
<p>anyway, it is highly unlikely that you'll qualify if your parents actually make $45000 from their job. this is b/c stanford, and every other school that uses fafsa and the css profile, look at accounts, benefits, bonds, and other random crap your parents probably have. home equity as well as you can see...</p>
<p>My parents make a little over 45K and we have about 70K in savings, but they have never owned a house because they wanted to save for my college tuition. My parents right now don't have to pay anything to Stanford and I get some money refunded (of course that doesn't cover books, plane tickets and some very small expenses). Still, I'm glad that the financial aid has taken a lot of burden off my parents; we've always lived in apartments and I know my mom has wanted a house, and now hopefully they can think about buying one now that they know they can afford my college fees.</p>
<p>I think if your parents made under 45K and their home equity is anything under 2.5 times that much (something like that) you don't have to pay anything. I could be wrong though.</p>
<p>hmm, i'm confused, i'll call them to ask... cuz i come from a single parent family (mom makes 21K) and our house's value jumped the past 10 years cuz well it's california. i also have an older sister in college so i hope i can still qualify for it (if i get accepted <em>crosses fingers</em>). thanks for the responses!</p>
<p>^yeah just call them that'll help :)</p>