<p>How much aid would a student typically expect at a private school (ivies etc.) if their household income was ~ 180k</p>
<p>I foresee no need-based add unless there are extreme circumstances (your family has absurd numbers of pre-college-aged children)</p>
<p>Plus, it can vary widely by school. At Harvard, you’re supposedly limited to 10% of your income. At other schools, you probably wouldn’t get much or any aid.</p>
<p>^^^</p>
<p>I don’t know if that 10% rule at Harvard applies to incomes of $180k. There may be lower cutoff for that guideline. More to the point, someone with an income of $180k may also have significant assets.</p>
<p>If it does apply to incomes up to $180k, then what happens at $185k? Does the family go from paying $18k to paying $50k???</p>
<p>At 180k you’re on the edge/out of range for even the best financial aid.</p>
<p>you will probably get none. Private schools are only a good deal if your family is relatively poor, public schools are a good deal if your family is relatively rich.</p>
<p>Actually, you can get merit aid at many schools no matter what your income, and even with that income, you might get need-based aid at a private school, particularly if you have more than one student in college.</p>
<p>[Financial</a> Aid: 7 Big Myths - CBS MoneyWatch.com](<a href=“MoneyWatch: Financial news, world finance and market news, your money, product recalls updated daily - CBS News”>MoneyWatch: Financial news, world finance and market news, your money, product recalls updated daily - CBS News)</p>
<p>Sorry to hijack this post, but does anyone know what kind of needbased aid I would get at a private school if my family’s income was around 60,000?</p>
<p>It completely depends on the school. Try running some of the online financial calculators. People recommend Amherst’s.</p>
<p>Income is not the only factor at many schools. Assets count also, although different types of assets may be treated differently. They are unlikely to expect you to sell your primary residence to pay for school, but they may expect you to sell or borrow against other property. They are likely to expect you to expend any funds in your name. And so forth.</p>
<p>Our income is roughly $200,000 with two kids in college, and our EFC is around $30,000. Depending on the institution and your situation, it is very likely you may get some aid</p>
<p>30,000 per kid, 60,000 total</p>
<p>From the article linked above:</p>
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</p>
<p>Augh!!! This is exactly what we are all talking about!! This article makes it sound like my family could easily qualify for financial aid–after all, if people making nearly HALF A MILLION DOLLARS A YEAR qualify, certainly we qualify.</p>
<p>But, according to the calculators I’ve run, we absolutely do not. However, had I not run the calculators, I would certainly have gone on believing that I could not possibly be expected to pay >$50k/year per kid.</p>
<p>And yet, I am.</p>
<p>I didn’t read the article, but yeah, the piece you quoted above is pretty misleading, in my experience.</p>
<p>First of all the 5.6% on assets is a federal formula. Private schools will use their own formula and state schools don’t generally meet need anyway, so the 5.6% figure is moot.</p>
<p>I volunteer helping kids with their college and FA applications, and I agree that they hear SO often about all the money that’s out there to pay their way through college… and for the vast majority of kids, it’s just not like that. They are often a little shocked that their choices are so constrained by the money factor. The just don’t see it coming.</p>
<p>^^^</p>
<p>I agree. Any school that doesn’t meet need isn’t likely concerned with any 5.6% on assets formula.</p>