I had a kid who was in the NICU many years ago when bills were a LOT cheaper. His total cost was in the $200,000 range for just the hospital stay. I seriously doubt that your dad paid that much for this NICU stay out of pocket. What insurance has a $200,000 deductible?
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I don’t know I just know he did a payment plan for it and was paying for it for a while. I doubt it really makes much of a difference though and I don’t know many details, so I probably can’t answer any more questions!
Ok I had no clue how much they cost so “most” is in accurate, but enough to be a problem financially.
I think your other thread is helpful. Look for schools where you will receive significant merit aid. At many of those places, you won’t even need a FAFSA as merit aid is based on the strength of your application.
Read through those suggestions and continue to post questions.
Good that you are looking at all of this now…and not at the last minute.
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I believe our income was around $100,000 when our oldest started college in 2014, 5 kids, zero FA. It’s higher now (not as high as the OP’s family, much lower), and even when we had 2/3 in college at the same time (several years) the only benefit I saw was some of the student federal loans were subsidized. We reached the max of our health insurance deductibles last year ($15,000 in and out of network). My kids attended less selective colleges to get merit since financial aid wasn’t going to happen.
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It definitely depends on the college, their endowment, their formulas, etc… we triggered need based aid with two in college with higher income than you shared at selective and highly selective private colleges. But we do not trigger any of the other formula “monkey wrenches” - no 2nd home, not farmers, not self-employed or business owners, no rental properties, etc…. We even triggered some need based aid at a few state flagships, but it was much less generous, but the total cost was also less.
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