<p>I've been wanting to apply early decision to Cornell for a really long time now, but the one thing that's been holding me back is the money! I know that Cornell is offering families that are making $75,000 or less free tuition and is covering the costs of a lot of other things... but would they look at the assets that my family has? My family's net income is about 35k a year, but we have about 200k in assets because we sold our old house and moved. Anyone know where I would fall for their new plan?</p>
<p>Since your income is under $75,000....student loans would be replaced entirely with grants. However....they might calculate a family contribution based on your family's assets (home, car, savings etc...). In that case...if your EFC is too great for your family to pay out of pocket...then you'd need a loan to cover that. The only way to get a free ride is to have an EFC of 0.</p>
<p>Your assets will go into calculating the EFC. Your family still needs to pay the full EFC. After that, you won' have any loans.</p>