<p>Since you live in Alaska, does your family also get the annual “per person” oil royalty? If so, are you including that amount in your parents’ income?</p>
<p>When you go to college, will you be able to use YOUR “per person” oil royalty towards your college costs?</p>
<p>BTW…savings ARE assets.</p>
<p>A 30 ACT is a great score for a lot of schools - my S got a full tuition package at a private school with a 28 - and your GPA is high if that is unweighted. Some nice ECs, a geographic advantage for many schools…you should be able to get some nice private school FA or FA-merit packages.</p>
<p>^^^
I don’t think that school has engineering. Yes, there are some privates and private LACs that would give full tuition merit for an ACT 28, but not often the ones with engineering.</p>
<p>My son’s college is a small uni and he is in the music conservatory. But he got “almost as good but not quite as good” offers from other LACs and two of them offer a 3/2 year (and this one also has a music conservatory): [Pre-Engineering</a> - DePauw University](<a href=“http://www.depauw.edu/studentlife/firstyear/academic-life/pre-professional-programs/pre-engineering/]Pre-Engineering”>http://www.depauw.edu/studentlife/firstyear/academic-life/pre-professional-programs/pre-engineering/)</p>
<p>The other: [Pre-Engineering</a> - College of Wooster](<a href=“http://www.wooster.edu/academics/areas/pre-engineering]Pre-Engineering”>http://www.wooster.edu/academics/areas/pre-engineering)</p>
<p>S isn’t interested in engineering, I posted mainly to say that a 28 (and just under 3.0 GPA in fact) got him several full tuition or nearly so offers. These were a combo of merit and need based aid. If your dad’s savings is just sitting in the bank then you may not get those offers. But if it’s in retirement or a 529, you might.</p>
<p>3+2 engineering programs bring more cost and financial aid uncertainty – you do not necessarily know what the financial aid offer will be like at the “2” school.</p>
<p>That’s true, plus you may not want to leave the “3” school.</p>
<p>Nonetheless, a 30 ACT and a 3.88 GPA should get you some decent options beyond the examples I gave, especially if you determine that the savings is in a 529 or retirement account, in which case you are very likely to get need based aid as well as merit.</p>
<p>The bottom line in all of this is that the OP needs a lot of aid whether it is need-based or not. As such, he should “cast a wide net” focusing on schools that are generous with FA and/or merit aid. And of course apply to his financial safeties as well.
I think his income level qualifies him for significant FA, regardless of the savings account unless there are other factors that haven’t been discussed (small business, real estate beyond the house etc.)
Good luck!</p>
<p>Yes, cast a wide net. Many of the schools (with engineering) that “meet need” are the hardest to get accepted to.</p>
<p>Also, if the parents’ money is not protected, the EFC may be higher than what they’re willing to pay.</p>
<p>Also…since travel will be from Alaska, it’s unlikely that the COA of most/any school will include transportation that would cover one or two trips to and from Alaska, along with local travel during the school year.</p>
<p>How much will your family pay each year?</p>
<p>My mom will maybe pay 5 grand out of her savings (she is a waitress)
my step dad (he is a small restaurant manager) is not willing to pay any. He’s a cool guy, but he is my step dad and I wouldn’t want to put that kind of pressure on him anyways. So I guess I’m on my own. I’m hoping for a lot of scholarships and financial aid.</p>
<p>Your mom might contribute the $5k that she has in savings towards your college costs? </p>
<p>What is your mom actually SAYING? Ask her how much she’ll pay EACH year.</p>
<p>If the $5k is a ONE TIME contribution, then you will very likely be short for your EFC. So, even with “good aid” you could still be quite short if EFC isn’t covered.</p>
<p>If you do get the Oil money, they your “share” should go to you for college. It’s not much (maybe $1300 per year), but it can go towards EFC.</p>
<p>
</p>
<p>Did anyone say they weren’t? We were drawing a distinction between the way savings in an unrestricted account are treated and savings in a retirement account.</p>
<p>But I am now too confused about who is and is not being counted in terms of income…the parents are divorced, the mom is remarried, but the kid doesn’t want to count his income, the mom may be willing to contribute $5k once or perhaps every year…OP, it is likely that schools will count your stepdad’s income whether you like it or not. And if your dad has a wife, her’s too. At this point I have no idea wher that initial $55K figure came from. :)</p>
<p>^^^</p>
<p>Well, the OP seemed to have the two things confused:</p>
<p>*My parents don’t even have any assets… </p>
<p>With my dad’s savings ($100k)…
*</p>
<p>OP: You need to take the SAT exam since the science portion of the ACT destroyed your score & there is no science section on the SAT.</p>
<p>As an Alaska resident, you should apply to Duke University. (Trust me on this one.)</p>
<p>Also try USF, UCF, and Stetson in Florida. Stetson isn’t in a large city, but it’s less than an hour from Orlando and about 30 mins to the beach. Beautiful place.</p>
<p>OP: Don’t sell yourself short. The only reason that you’re not looking at the Ivies & Ivy calibre schools is your ACT science section score. Take the SAT & enjoy just about any college or university in the lower 48.</p>
<p>Are you considering any Canadian universities ?</p>
<p>Thank you guys so much for your response. It’s amazing that this many people are willing to help out. I’m sorry for the confusions I have caused. I will straighten them out.</p>
<p>1)My dad’s savings is just ‘sitting around’ in his savings account. Not retirement fund.
2) Yes we do get yearly dividends in Alaska. This year it was about $900(It keeps getting less and less lol). And Yes I will put that towards college.
3)As for my family, I live with my step father and real mother. As for my biological father, I’ve only seen the guy like twice in my life, and last time was back in like kindergarten. I don’t even know if he’s alive, my mom says she doesn’t know either(don’t have contact.) So he can’t count for income. The 56k/year is from my parents that I’m living with(step father and mom)
4)I’m sorry I said my parents don’t have any assets. I thought assets were like farms or real estates. I didn’t know savings were assets too. So I guess my parents do have assets.
5)I’ve already taken the SAT’s, it’s pretty low (1900’s) I think I’m better off with a 30ACT (although I do wanna retake the ACT if it’s not too late).
6)I have not considered Canadian universities, wouldn’t they be expensive for me?</p>
<p>And a question: What is a 529?</p>
<p>Oh, and the 5k is every year from my mom. my step dad doesn’t wanna pay any. And I work every summer teaching swimming lessons and lifeguarding, and make around 4k.</p>
<p>Duke university seems way too over my head. How would being an Alaskan resident help?</p>
<p>Oh, and the 5k is every year from my mom. my step dad doesn’t wanna pay any. But I work every summer teaching swimming lessons and lifeguarding, and make around 4k. So that’s about 9~10k I can put towards college every year.</p>
<p>Alaska doesn’t have a law school, the Alaskan Law Review is at The Duke University School of Law. Duke, I have heard, has a great connection to Alaska.</p>
<p>Do NOT write a school off your list because of sticker price. It is best to apply and find out what financial aid package they actually offer you. Schools do not always announce all of their aid options. Being from Alaska you are a rare addition to any school and will provide a new perspective.</p>
<p>Looking at Engineering schools the best ones in New York are RPI, Clarkson, RIT, Cooper Union, and SUNY-Buffalo.</p>
<p>Also in New York is Houghton College, a small school with a great music program that has a 3+2 program with Clarkson University for Engineering. I know a lot about Alfred University and I would not recommend it for an engineer, unless you are interested in ceramics. I, honestly, think it is the second best engineering school in the little village of Alfred, NY (the other being the State University of New York, College of Technology at Alfred known as Alfred State College). Binghamton is a very good school but not known for engineering. Rochester should be on the list, no doubt. Remember from their music video: they’ve “got Eastman, right down the street.” (If you don’t know what I am talking about, look up the video)</p>
<p>In all reality, you won’t find a real good mix between top engineering and music unless you’re at a school like Cornell, maybe. </p>
<p>If I were you, I would apply to about five schools in New York that you may be interested. It is always better to get the information from the school than to take them off the list because you may not be well informed. I have seen many kids get great packages from schools they never expected to be able to afford and I have watched as many kids didn’t apply places because the sticker price was too much money.</p>
<p>Coming from Alaska, I wouldn’t be too concerned about finding a school in a city. You don’t need a city to have a different experience and as an engineering student you will not be out doing much anyways. It doesn’t matter what school you go to, the majority of your fun time will just be “hanging out with friends.” If you go to a big city you won’t be able to afford the cost of housing. There would be nothing worse than going to NYU-Poly and then being a broke student and you can’t afford to go out to hangout with friends.</p>
<p>OP, so dad=stepdad in your posts. </p>
<p>I am not an FA expert, but I am virtually certain that colleges are going to regard that $100K in savings as $$ available to pay for college, and they will expect your family to pay at least $25K per year for four years. That’s the way it works. If you don’t want that to happen–and I don’t think that it would be very fair for that to happen to a family with your income–your stepdad needs to move the money into IRAs or other retirement investments ASAP. (Frankly, I’m somewhat amazed that he has that amount of money in a savings account in the first place, just from a financial planning point of view. Maybe it is in long=term CDs or something.) Please, I urge you to get your dad to consult the FA forum here right away.</p>