<p>Right now on my list I have two Ivies - Penn and Cornell(and Duke which is similar financial aid wise)</p>
<p>At the moment, my dad is unemployed- he quit his job and got a nice severance package because his employer was downsizing, my mom works part time (maybe makes $5k/ year), as do I (1.2k/ year).</p>
<p>My dad's severance package is ending this month, leaving us without a steady source of income. However, he has started up a business, which would have a high income if it succeeds (which it looks like it will at this point). It will take a while though for the money to come in</p>
<p>To colleges, would they consider my family unemployed (meaning i'd get 100% financial aid), or would they look at their earning capability (making us pay for most of it)?</p>
<p>Your financial aid for 2012-2013 will be calculated based on your family’s current income and assets, not “earning capability.”</p>
<p>However, that information has to be refiled and updated annually. If your dad starts making significantly more money next year, your financial aid will likely be decreased for your sophomore year.</p>
<p>Just being “unemployed” doesn’t guarantee 100% financial aid. If your family has extensive savings, investments or other assets, schools will generally require that some of the value of those assets be tapped to help pay for your education.</p>
<p>Polarscribe got it right. If your dad bought a lot of stuff for the business, like a shop or a bunch of machinery or something, it might be counted against you on the business section of the CSS/Profile but IDK how much that could hurt your FA package.</p>