<p>Financial aid policy is lame. My family is upper middle class by income, but we live like lower class citizens cause we save and rent an old house. Thus, we get the luxury of paying full price for college. I know another family with similar income, but they bought a huge house and spend money like crazy so they qualify for 100% need aid since their bank account shows 0. Great! Life is fair. </p>
<p>Anyways, so I'm in a predicament. My parents are unwilling to pay for college since in America "no parents ever help out their kids with college finances". Thus, I am looking for some good merit aid. I don't want to go to a "bad" college though just for merit aid. I would like to go to a somewhat respectable college like UCLA or Washington University in St. Louis with some merit aid. </p>
<p>Any ideas? </p>
<p>Chinese male. </p>
<p>I have 2380 on the SAT and so far a 4.0 unweighted and 4.5 weighted GPA. Extracurriculars I am a lot weaker. </p>
<p>I am in an afterschool tutoring program at school(tutoring others) and volunteer at the library and used to volunteer at a center for needy people. I am the activities coordinator of octagon and president of the chess club (not really active). </p>
<p>Sorry for my sarcastic attitude. Any somewhat respectable colleges with merit aid that I have a chance at?</p>
<p>Your stats look good to me. What you lack is something to make you stand out - these are not easy to get (which is why they make applicants stand out).</p>
<p>what would?</p>
<p>Being a published author, doing research, starting a program that helps others in some way, winning national competitions, owning a business, etc.... </p>
<p>The idea is to look passionate about something. What is it that you want to major in?</p>
<p>Not a scout. I am a senior though. I don't really have anything special about me. I plan on either an engineering major or business major with emphasis on finance. I want to keep my logical skills strong. No offense to business majors, but I hear business majors take a lot of fluff classes.</p>
<p>Univ of Southern Calif gives 1/2 off tuition off for NMFinalists, and is very interested in hi stat kids like yourself. They have great undergraduate business and engineering school as well.</p>
<p>By definition, you have to go to a lesser college than you could get into to get merit money. You would probably get a scholarship at any UC other than Cal and LA. Look at schools like Vandy known for buying top students. Look at other Southern schools and schools in the MW that don't get a lot of Asian applicants. Check the merit aid thread on the parent's board for more ideas.</p>
<p>I'll also mention that lots of people with big houses have to pay full fare. In places like California, a house is the fastest, and has been the best, way to make money. The grass always looks greener.</p>
<p>financial aid in college is perhaps the only time in my life when i feel happy about my financial status. I feel very good about being able to manage my own college loans without giving burden to my parents.</p>
<p>"financial aid in college is perhaps the only time in my life when i feel happy about my financial status. I feel very good about being able to manage my own college loans without giving burden to my parents."</p>
<p>i have the same sentiment....but my parents insist... so why start out almost 200k in the hole?</p>
<p>There's not really much around it. My uncle is sending my little cousin to college this fall. His family income is lower upper class and there's pretty much nothing he can do as far as getting need based aid. Its a matter of income, your friend's parents can't have a high income and still receive financial aid. There's just no way it would work with the need based analysis unless they are taking in cash and hiding it from taxation.</p>
<p>I'm not sure of merit based aid but your stats look good and i'm sure that qualifies you for many programs at the UCs such as Regents.</p>
<p>nah. their income is low enough not to kill their chances for aid, but they do not save. and assets are a big portion. homes do not count as assets. cash does. they put all their money into a house and vacations. we just put it in the bank or money market.</p>
<p>You are wrong about house not being counted as an asset in calculations. The equity in the house is counted by the privates. Many of the publics, do too.
Again, as JPNguyen pointed out, the income reported in the tax form is mostly used in EFC calculations. If one person spends all and the other person saves it, then there can be a bit more contribution reuqired by the saver. But it is not a whole lot more.<br>
Quick example: 100,000 family income. EFC is about the same for private colleges for these three cases: (a) 50 K is in the bank (b) 50 K is spent on luxury cruises (c) 50 K in house equity</p>