<p>Hi</p>
<p>My familys income is only $40,000 so their contribution is only $3,000 this year. </p>
<p>However, next year our income is going to be $80,000-$100,000. Does anyone have an estimate on how much our family contribution will go up? </p>
<p>Thanks. I'm worried it'll go up a lot.</p>
<p>Your parent’s contribution will definitely go up as their income is significantly increasing, and depending on their current income level, you will be required to take out a $3000 loan if it reaches $75,000. Also, the student contribution will go up a bit each year. You can use the FA calculator to get a ballpark idea or talk with FA to plan for this.</p>
<p>I used the calculator based on income of $80k, and the total came out to be $30k. thats 10x more than what the total would be for $40k. :((((</p>
<p>Cornell’s calculator takes into account the equity in your home and any investments/savings.</p>
<p>i unfortunately had an entire year in the bank and got very little aid. if you’re a parent don’t start a college fund, blow it all in vegas or something</p>