<p>My parental income is over 200k, and I was wondering if I could still apply for financial aid at the IVIES or other such top colleges. Would this be frowned upon by financial aid offices?
I recently heard IVIES meet full needs financially.</p>
<p>you can certainly apply for FA -- and schools that are need-blind won't care one way or another.</p>
<p>However -- if your parents have income of over $200,000 and own any assets, it is unlikely that you will get any FA. All students qualify for unsubsidized Stafford loans (about $3500 a year or so). They may also give you some work-study money or offer your parents some low-interest loans. </p>
<p>put some numbers into these calculators (use institutional methodology for Ivies) and see what your EFC is. That is amount that your parents are expected to pay. <a href="http://www.finaid.org/calculators/finaidestimate.phtml%5B/url%5D">http://www.finaid.org/calculators/finaidestimate.phtml</a></p>
<p>When I put in $200,000 in income, no assets (which is unlikely) and 2 kids in the family, but only one in college -- the EFC ends up to be $44,555.</p>
<p>thanks! my parents can afford the tuition, but it would just be nice if i got financial aid. :)
we have assets and 2 kids (great guess!). my sister though is in a very expensive private school, and it would not be good when she goes to private school while i go to college.</p>
<p>it doesn't hurt at all to apply, but the likelihood of you receiving need-based finaid is worse than Bush being reelected.</p>
<p>Perhaps with two in college, your family might qualify for some aid. File the forms and see....you never know. $200,000 income plus assets, however, makes this seem a bit unlikely from a need-based aid standpoint. But you would be offered an unsubsidized Stafford loan at least. Give it a try.</p>
<p>If you have the stats for the Ivies, you may also want to shoot for some schools that give merit aid, which doesn't depend on your parents' income or your "need." Check out the sticky at the top of this forum.</p>
<p>I didn't add my usual advice, so I thought I would post it now.</p>
<p>Sit down with your parents and have a frank discussion of what they plan to do regarding paying for your college -- and make it an in-depth, sit-down discussion with actual EFC and COA figures (not just a "of course we will help you, sweetie") Give them the link to the FA calculators and ask them to input accurate numbers from this year's tax forms. See if they have money set aside for your college, ask what you will be required to contribute -- many families ask that the child borrow the unsubsidized stafford loan amount or the student works over the summer and/or during school to pay for personal expenses and books. Every family has a different approach -- NOW is the time to find out what your parents approach is so that you can apply accordingly. Just because your parents have the money, doesn't mean that they plan on spending it for your college education (as many kids find out each year). An honest discussion NOW, before college applications are sent out, can save you a great deal of heartache later.</p>
<p>I also suggest the book "paying for college without going broke, 2007".</p>
<p>thanks for the advice</p>