<p>I just found out that our income is somewhere around that number.</p>
<p>What does this mean for us in terms of financial aid?</p>
<p>I thought we made a bit more than that, so I didn't even think twice about getting fee waivers, which would've been a really, really good idea.</p>
<p>Unless you have some serious assets, you're going to get good financial aid packages. For some wealthy private colleges, students with a household income of $40,000 or less will not be expected to contribute to college expenses. So if you get into Harvard or Stanford, it's free.</p>
<p>Re: Stanford</p>
<p>If the family makes under $45K, then the family contribution is $0. The student is still expected to contribute toward his education (approx $6K/year in loans, work study and savings/summer earnings).</p>