<p>So I visited Harvard today and was pleased to hear that they would expect my parents (~$150,000) to only pay about 10% of that. That means an amazing amount of aid. Do any other schools offer great financial aid like this? I heard possibly Princeton? But can't find definite info on it.</p>
<p>Stanford, Harvard, Yale, Princeton, Dartmouth…all have generous need based institutional aid.</p>
<p>But remember, the first hurdle is to get accepted. These schools reject 90% of the students who apply. Their generous need based aid does you no good unless you are among the 10% or so who get accepted.</p>
<p>This is true, but I don’t want to be applying to a top school that doesn’t give good aid. It would be a waste since my parents wouldn’t pay that much.</p>
<p>HYPS are in a league of their own for aid. Though Stanford counts home equity which I don’t believe the others do. Also be aware that the 10% assumes what they consider typical assets.</p>
<p>After that your cost goes way up. Even Dartmouth doesn’t come close at the next tier and has returned to loans at your income level. Most of these schools have aid calculators on their sites. </p>
<p>You’re right, if your parents won’t pay their EFC, and many won’t/can’t, it’s best to know now and not waste your time on apps to schools you can’t afford.</p>
<p>I agree that the only schools that are going to give FA for families that make 150k in income (barring extreme cases) are HYPS. Their policies for mid to upper income families are unique and even schools like Dartmouth, Brown and Amherst will not give similar FA.</p>
<p>Thank you for the responses. My parents are always hesitant with college costs and whatnot. I guess I will try to sit down with them and do an efc calculator. Noob questions…for schools that “meet full need”, EFC is what you will be paying? So you will get financial aid the tuition minus the EFC? If so, what about dorming costs? Thanks</p>
<p>The first aid you get at most schools will be loans and work study. There will also be a student self help component, money you are expected to save from summer work. In a family with $150k income, by the time that $10k or so is factored in, you are unlikely to see more aid. So unlikely to get any free money. If there is any home equity and assets, absolutely forget any real aid.</p>
<p>COA does include room and board, so aid would cover that too.</p>
<p>For these VERY generous schools…there is also a student contribution of several thousand dollars a year. If you are low income (which a student with family income in excess of $100K a year isn’t), you would get work study to offset the student contribution. Otherwise, these generous schools DO expect students to work in the summer and during school to help out in most cases.</p>
<p>Stanford’s need based aid is by far the most generous in terms of the upper income level and the level of support without loans.</p>
<p>
</p>
<p>Any official data/statement that we can look at? I think several schools use the 10% rule, but not sure if Stanford does that too.</p>
<p>[Project</a> on Student Debt: What’s the Bottom Line?](<a href=“http://www.projectonstudentdebt.org/ncoa_chart.php]Project”>http://www.projectonstudentdebt.org/ncoa_chart.php)</p>
<p>^ How accurate is that table? Only 2 schools (HY) are generous to middle- to upper middle income families, not HYPS as a group.</p>
<p>
</p>
<p>That is true, once you start moving above an annual family income of $60,000 aid in most schools starts dropping off considerably and beyond $100,000, EFC’s start going into the $30,000 plus year range. Only HY are different where even at higher income level the EFC is about 10% of income level.</p>
<p>Also remember one thing, these calculations are based on certain asset assumptions, if you have more assets than that, it will impact your EFC.</p>
<p>Does anyone have any guesses to “typical assets” numbers? Is it twice or ten times annual income (if you earned 100K, assets total 200K)? and do assets include 401K?</p>
<p>I have personal experience with P and it was as, if not more generous, than H & Y.</p>
<p>krug,
S states:</p>
<p>[FAQ</a> : Stanford University](<a href=“Financial Aid : Stanford University”>Financial Aid : Stanford University)</p>
<p>This is all I can find for H:</p>
<p><a href=“http://isites.harvard.edu/icb/icb.do?keyword=k51861&pageid=icb.page248616&pageContentId=icb.pagecontent488603&state=maximize&view=view.do&viewParam_name=default.html[/url]”>http://isites.harvard.edu/icb/icb.do?keyword=k51861&pageid=icb.page248616&pageContentId=icb.pagecontent488603&state=maximize&view=view.do&viewParam_name=default.html</a></p>
<p>Thank you. That was very helpful. My experience with Brown (even though we did not expect much need based aid) was surprising. They were not generous at all.</p>
<p>Princeton offers an online Financial Aid Estimator at:
[Princeton</a> University | Princeton Financial Aid Estimator](<a href=“http://www.princeton.edu/admission/financialaid/estimator/]Princeton”>http://www.princeton.edu/admission/financialaid/estimator/)</p>
<p>In my view, Princeton’s potential financial aid for upper middle class families is generous.</p>
<p>
</p>
<p>I attend a school that “meets full need” and the amount I’m paying for college is less the EFC. Also, for me, financial aid = cost of attendence minus EFC. There is, however, a term time job of about $1000 per semester factored into the financial aid package.</p>