Need help understanding financial aid

<p>What is the amount of financial aid most people get </p>

<p>My father is unemployed and my mother is a nurse who earns about 70-80k per year (not net income)</p>

<p>Go to the colleges you think you might apply to. There will be a net price calculator on EACH separate college site. Run your family finances on those calculators. They will give you a good estimate of potential aid and net cost for THAT school. Do each one for EACH college as the formulas vary.</p>

<p>This will help you get started a bit.</p>

<p>On another thread you indicate your family has money and you have a college fund. Is the college fund a regular savings in YOUR name? How much is in that account. Savings accounts in students’ names are assessed as assets at 20%. What kind of college fund do you have?</p>

<p>When did your father become unemployed? If you are going to start college in fall 2014, 2013 is the base year and you will have to include his income for 2013 if he worked at all. You also need to know the assets you and your parents have, cash, checking accouts, CDs, stock accounts etc. Don’t include any assets in formal retirement accounts, 401k, IRAs etc.</p>

<p>What most people get isn’t relevant, you need to know an estimate for what you will get.</p>

<p>You can also read through this thread to get an idea of how finaid works:</p>

<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1486647-financial-aid-faqs.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1486647-financial-aid-faqs.html&lt;/a&gt;&lt;/p&gt;