<p>Here's the deal. My family income is less than 60K a year, but our assets (including house, not including 401K) are more than 300K. We live in a nice house in a fairly well off neighborhood. My parents are both in their 60's and one of them is retired and on pension (health reasons) so we only have one stream of income coming in, but are sitting on my parents' life savings. And as strange as this may sound, they want to have some money to live off of after they turn 70, and yet they're still all for me applying to Columbia ED. Am I screwed, or will the financial aid office (assuming I somehow get in) understand? Has anyone else been in the same/a similar situation?</p>
<p>damn your parents had you in their 40's?</p>
<p>Pfft, that's nothing for my family. My grandpa on my mom's side had my youngest uncle when he was 78.</p>
<p>christ.</p>
<p>anyway, i'm pretty sure columbia only checks your income and not your assests at your income level. incidently, if you get accepted, you get a full ride cause your parents make less than 60k.</p>
<p>^ this is BS and illogical, it absurd to think that very rich retired parents pay nothing (not saying yours are very rich). VanChoc, call up columbia get in touch with someone with FA and ask them their procedure / system. Just explain the circumstances, while yours are not common, they'd definitely have seen several Financial profiles like yours.</p>
<p>ah. guess i remember i read the financial aid enhancements wrong. i thought i remembered it saying that they didn't include assests in their considerations; my bad.</p>
<p>Clearly assets count. I know a number of CU kids whose parents were filthy rich and had no W-2 income (i.e., they don't go to normal jobs and collect a paycheck on every other Friday). These kids wouldn't be able to get aid in such circumstances.</p>
<p>alright, thanks for the info. my mom called them up a few weeks ago actually, but she has a funny accent, so i'm not sure how accurate the info she gave and received was: i'll call them again to make sure.</p>