Harvard Financial Aid Questions

Colleges and Universities A-Z Harvard University
1

<p>If you apply early action, do they look at this year's income (2006) or do they look at last year's (2005) when they give you your financial aid proposal? </p>

<p>And since harvard has the free under 60k program, is it true that no matter your assets (as long as you are judged to have need) you get a free ride? If my personal income was 4k, would that raise my EFC?</p>

<p>Would colleges count the money I have in a Roth IRA as part of my investments, since it is technically a retirement account?</p>

<p>THANKS</p>

2

<p>When you apply, you have to send in your 2005 tax info and the Profile. If accepted, you will receive a tentative aid package. You will then have to send in your 2006 return, as soon as it is available. An adjustment will then be made if necessary.</p>

<p>I would venture to say that the 60K figure comes from FAFSA and your tax return. So, yes, your assets will certainly be considered, as they should be.</p>

<p>Not sure about the IRA question.</p>

3

<p>the 60k thing is a bit weird... I used the Pton finaid calculator, and although r income is well below 100000, they want me to pay 30000 each year, that is WAY too much...</p>

4

<p>Pearfire - do it again and see if you left anything out. The Princeton calculator is fairly accurate.</p>

5

<p>So if your parent's income last year was 100k and their income this year was 60k, would they adjust the aid package.</p>

6

<p>@twinmom
so do u think thats way too much as well? wut do u think they would offer?? a rough estimate would be greatly appreciated</p>

7

<p>cc77cc: I would think that they would want an explanation of why there is such a significant (almost 50%) drop in income.</p>

<p>Pearfire: I couldn't tell you. But with all due respect, I do suggest that if you are going to post in forums such as these as a potential college applicant (to Harvard or anywhere) ... you write in coherent English rather than in pre-teen style IM lingo.</p>