<p>Ok I always hear and read about how Princeton has such a great financial aid program because of their grant-instead-of-loan deal. I was just wondering: How does that work in this situation?</p>
<p>So, I live in a family where my parents make upwards of 150 grand, but they have already told me that they won't be able to give me a dime (2 mortgages, car/insurance payments, etc.). </p>
<p>So does Princeton still leave me graduating with little to no debt? How does it all break down?</p>
<p>Signed,
Confused and Concerned</p>
<p>Does anyone know? Am I totally off-target?</p>
<p>Thanks!</p>
<p>Nobody?</p>
<p>Or am I just so way off no one can stop laughing long enough to post? :)</p>
<p>there is an early estimator on their website you can use to calculate approx. the aid you are eligible for. depending on what they consider in figuring your EFC, you might be responsible for much or little of the cost. you will receive all the info you need in your admission packet, if you applied and were accepted this year. </p>
<p>With their program, you can graduate debt-free if you don't take out any loans on your own to cover your EFC and/or work study.</p>
<p>Oh ok, so if I can't cover my EFC, I have to take out loans?</p>
<p>That kinda sucks, but its the same at all other colleges I'm sure. Hm, well I hope somehow my EFC is somehow messed up and calculated really low :) ^^</p>
<p>Tell them if you get in to sell the house and "live in a van down by the river":)</p>
<p>Princeton Fin-Aid will look at their income, savings and their age to determine need. They also will consider your savings if any.
One factor they don't count is home equity which can become a big factor at other schools.</p>
<p>What's with your parents? Don't they put a high value on your education?</p>
<p>My parents are kinda young, so I'm not sure how that will work out.. one is early 40s, one is mid 40s. We own two houses, have 2 cars (not including my paid off one) , I have 2 siblings (who will be getting cars probably), and they want a decent retirement. I just wish they had started some sort of savings thing for me.. but they had some major financial issues when I was younger, but still.. <em>sigh</em></p>
<p><em>shrugs</em> They've always stood by their "no paying for college, your grandparents willl give you some money", but in reality my grandparents (the awesome people that they are) only have a few grand saved up (can't blame them at all) as far as I know.</p>
<p>I'll take out the loans if I have to (for Princeton), but of course I'd rather not :)</p>
<p>You will still be eligible for some fin-aid anyway as Princeton is extremely generous. I would also apply to the two top Lac's as their packages are similar to Princeton's. Another plan would be to apply to some of the Universities that offer merit money (UVA comes to mind).</p>
<p>BTW...If they own two houses the primary residence will be the only one they will ignore.</p>
<p>Well, I mean, Princeton is my dream school (I've always thought highly of Princeton and when I visited last summer I knew it was the school for me) and if I have to I'll pay hundreds of thousands to go there - I have no doubt I will be able to pay it off one day. I was just trying to figure out if I'd be in that situation, and by the looks of it I probably will.</p>
<p>But I've already accepted the fact that I'll be a 'loan'er <em>rimshot</em> throughout college if I get accepted to Princeton. Of course I will apply to other good schools that I like in case Princeton rejects me, but if I get accepted, I'm definitely going to go.</p>
<p>I appreciate the response!</p>