<p>with that income, your financial aid will not be a lot. my friend neal lenarcic parents' make less than that and received no aid whatsoever, just unsubsidized loans.</p>
<p>your friend is upper class.....lol.... if 40,000 a year is middle class.....140,000 is middle class.....a little over a million has to be upper class by a long shot......</p>
<p>my mom doesnt work...my dad makes 250,000(WAT HE owns a party rental company w/ 2 other people!!!)</p>
<p>My mom is a stay-at-home mom (she's also a freelance editor, which I'm sure we'll put down, but hasn't done that in a while) and my dad works with franchise training and pulls in about $85,000 a year. Do you think we would still qualify for financial aid? (I also have two siblings, one who's 15, the other 10.) We sure need it.</p>
<p>Weezerfan, with two siblings still at home, you should qualify for some financial aid. You could try out one of the EFC predictors to get an idea how much.</p>
<p>Where can I find these EFC predictors?</p>
<p>And thanks again, we're hoping for some good financial aid! (Otherwise, unfortunately, cost of a school will play a great influence in where I choose to attend.)</p>
<p>If you don't qualify for need based aid and have good stats, check out Case Western and Brandeis for great merit scholarships at well regarded, medium sized schools.</p>
<p>If my parents have a combined income of around 65000 a year, and the school I choose is around 40,000, do you think I could qualify for some good aid? Assuming I have avg. stats and that I am not a sports superstar.</p>
<p>Blythe, if the federal government doesn't grant you aid, you will surely qualify for institutional money from the school. There is no way a family earning $65,000/year could afford to pay full tuition out of savings and income.</p>
<p>i know most of the private schools give out pretty good financial aid....but what about a student that has parents that make around $40000 a year....and goes to a public school.... can that student get pretty good aid or will that person not get that much aid because it is a public school and it costs much less?</p>
<p>i don't think private schooling would affect financial aid because it is a personal choice to attend a private high school.</p>
<p>If you leave siblings behind in private school when you go off to college, they will consider any tuition that your family pays for them.</p>
<p>Actually, it depends on the college and the forms they use, but many will consider all sibling (and even parent) tuition when dividing up the EFC. The EFC is for the entire family, so generally if two kids are in college the EFC will be divided between them.</p>
<p>The whole is $100K middle, or upper middle, or wealthy, discussion really doesn't mean much. What counts is the EFC, and the way the college calculates their aid. Parental income is a significant factor, as are student income and student assets. Parental assets are also in the equation. The fact that you've got a killer mortgage payment really isn't a big deal. It's merely a choice you have made in spending your income. </p>
<p>To get a rough idea of the FAFSA EFC, go to the CC EFC</a> Calculator. Keep in mind that this is an estimate, and that many colleges also use the CSS Profile and/or their own application and forumulas to modify the EFC.</p>
<p>Even if you are upper-middle class, can having a lot of siblings help you get aid? I am the oldest of four children, and while we appear somewhat wealthy on paper, my parents would have a hard time paying 40K a year for my education alone. We don't live an "upper-class" lifestyle. No golf, mansion, designer clothes, jewelry, luxury cars, plane trips, etc.</p>
<p>Emswim, of course your parents "would have a hard time paying 40K a year," but they can pay it. Most finanical aid is reserved for those who would find it impossible to pay. If your parents are making over 100K a year, I would not expect any substantial aid.</p>
<p>how much do u think ill get from one of the top 20 colleges if my dad makes a 10,000$ a year?</p>
<p>
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how much do u think ill get from one of the top 20 colleges if my dad makes a 10,000$ a year?
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</p>
<p>Prachi</p>
<p>Being from India, you are an international student which means for many schools your ability to pay will be a factor in the admissions process. Your father making $10,000 per year can really hurt you because you will not be able to get a visa unless you can show how your education is being paid for.</p>
<p>Only a small hand number of schools are need blind to international students. Of the schools which are need blind H,Y, P
MIT, williams, etc. </p>
<p>The schools that are the most competitive as far as admissions with the number of international student being around 6% (in most cases less than 100 students internationally)</p>
<p>The 2004 census showed that income throughout the country fell into the following 5 income quintiles (by definition, people in each quintile represent 20% of the population).</p>
<p>1st 0-24116
2nd 24117-42056
3rd 42057-64999
4th 65000-98199
5th 98200+
top 5 170082</p>
<p>By this definition, a national consensus of middle-income should be the middle group, 42,057 - 64,999. Interesting to note that most families earning that amount would not consider themselves middle-income, nor would families earning more consider themselves anything other than middle-income.</p>
<p>That said, many families who are in all five income quintiles qualify for financial aid. Remember, the consideration is not income alone. Much more goes into the formula.</p>
<p>thnx sybbie</p>
<p>I have a Q
why wouldn't families earning $42,057 to $64,999 consider themselves middle income? what else would they be? That isn't low income.
A family of four would have to earn much less to qualify for free or reduced lunch- the standard for many subsidized programs.
A family earning that much has at least one full time worker ir not two, probably at decent jobs with some benefits.
Yes, it is probably hard to pay the bills in some areas particularly if you are in a high cost urban area, but many of the jobs in the "new economy" pay in that range & that is with years of experience.</p>