<p>*
Okay, I really shouldn’t be saying this, but I think there may be some confusion about our income. My family’s income is $120,000. Also, my family size is 5.*</p>
<p>Oops…I got you mixed up with another student - similar situation - higher income, bigger family. Sorry…</p>
<p>OK…with that approx income and family size (without big assets), is likely going to have a family expected contribution of about $33k. </p>
<p>So, a school like RH might give him a merit scholarship, but probably not much in a grant. Once a family contribution gets into that range, schools can complete an FA package with student loans, work-study, and a small grant or scholarship.</p>
<p>For instance…if…
COA is $50k
EFC is $33k
then…need is $17</p>
<p>so…“need” can be met with $5500 in student loans, $2500 in work-study, and $10k in grant/scholarship.</p>
<p>Keep in mind that if a $15k scholarship is given, that will reduce the loans or work-study…it won’t reduce the EFC.</p>