On the Cornell FA calculator it says I would get 50k in grants. How accurate is the calculator?
Some people report that the schools’ NPCs are very accurate, but others (myself included) have found very different results. (Note that I’m not talking about Cornell specifically here.)
For starters, it’s only as accurate as the data you enter–and getting the data right is harder than it sounds. Secondly, keep in mind that the CSS PROFILE is going to ask for a lot of additional detail regarding your family’s financial situation; it is entirely possible that that additional info changes the calculation in their minds.
50k in need-based aid probably indicates your family income is in the neighborhood of $45-50,000/year. Does that sound right?
Even though the tool many NPCs direct you to is the Collegeboard’s tool, the colleges set the rules within the tool. You can ask out in the Cornell forum how accurate this year’s applicants have found the NPC, since they all just git their FA packages.
No idea about Cornell but there are exceptions, if your parent is a small business owner or in a partnership with paper losses or depreciation, if your parent is divorced or otherwise gets a lot of un taxes income, it may be way off or it may be fine.
For a two W2 income married couple with modest assets and no real estate or side businesses, that is who it is geared to. With that caveat, go to the Cornell forum and ask.
The College Board just provides the platform for the NPC; the school puts in the parameters and calculations. How accurate they are relative to the school’s actual financial aid depends on the school.