<p>*As for financial, we’re not that in great status. We’re living CA!
My ballpark figure is $20,000 to $30,000 would be the maximum we could support. *</p>
<p>I’m from Calif so I totally understand the issue of a high cost of living. However, aid is NOT based on what you can afford, nor is it based on where you live (high cost of living). No margin for that. That’s why I made the point that even if a school is “generous” with aid, it won’t be generous if they think your income/assets are too high. </p>
<p>HYPS are 4 schools that give what I call “super aid.” Roughly, they expect you to pay about 10-15-20% of your income if you earn less than about $160k and have modest assets. However, once you get past that benchmark, you may have to pay full freight. (The claims that these 4 schools only expect 10% doesn’t seem to hold up when incomes are in the $125k+ area…but maybe that’s because those people have assets or larger retirement contributions and maybe “student contribution” isn’t part of the 10%???)</p>
<p>That said, the other schools that meet need (MIT, other ivies, etc) are NOT that generous. If your income is above 100k, they will likely expect about 30% of your income…or more if you have assets. Only those who are lowish incomes pay nothing. </p>
<p>You need to determine whether your income and assets are too high for the aid you need. If so, then you need a strategy. If your likely expected family contribution is much higher than you can pay, then you have to include schools on your list that will work. </p>
<p>If your expected contribution will be much higher than you can pay, then:</p>
<p>Include HYPS…since their formulas are generous for those who earn less than $160k and don’t have many assets.</p>
<p>apply to a couple of top schools that won’t likely give the needed aid, but what the heck.</p>
<p>apply to some UCs…since cost is about $30k.</p>
<p>apply to schools like Santa Clara and USC which give big merit for high stats.</p>
<p>apply to some financial safety schools that will FOR SURE give you large merit for stats.</p>