<p>Did you apply to any schools that would give you a big merit scholarship?</p>
<p>What are your stats?</p>
<p>I imagine that with a million dollar home, schools are not going to be very sympathetic about adjusting your aid/family contribution. Keep in mind that those who make these decisions are not living in homes like that. </p>
<p>Talk to your parents about how much they will pay - in total - towards college. With a $130k income, they may not be able to contribute much more than they said if much of their income is already committed to mortgage, property taxes, and other family obligations. </p>
<p>If they stick with the $15k - 20k commitment, then UW isn’t a bad option at all. </p>
<p>Wisconsin - Madison</p>
<p>In-state tuition and fees: $8,983
Room and board: $7,435 </p>
<h2>Books and supplies: $1,040 </h2>
<p>About $18k (could be covered by parents)</p>
<p>Estimated personal expenses: $2,310
Transportation expense: $580 </p>
<p>Personal expenses and transportation costs can easily be covered with a summer job.</p>
<p>He may not even have to take out a student loan.</p>
<p>Mom2…the living status of the financial aid officers has NOTHING to do with conforming to federal and school policies regarding the awarding of need based aid. Your sentence implies that finaid workers are going to be biased against students who have expensive homes because they (the finaid officers) don’t. You are WAY off base on this one…and it’s an insult to all of the financial aid officers in this country who work hard to comply with federal and school policies.</p>
<p>Maybe I’m wrong but I think the UW this student is talking about is Washington, not Wisconsin.</p>
<p>Nuclearpenguins…you need to discuss college finances with your parents. You should know what they are anticipating contributing annually to your college costs. Did you discuss your application choices with them? Are they aware of the costs of attending these schools (not your state U, but the privates on your list)? Once you have a better picture of what your parents are willing to contribute, you will have a better idea regarding how or if these other schools may work out for you. In any event…get the financial aid applications done on time…and hope for the best. Good luck.</p>
<p>The house is actually around 800k, so not exactly a million but back before the housing market had burst it was higher so I was wrong sorry about that. Well because I live only 30 min from U Washington, I would be able to keep my job which pays pretty well for a student I guess, and that plus the savings I have will cover books/personal expenses. </p>
<p>As for transportation I have my own car and insurance is covered for (parents of course), so that won’t be a big problem. Even if I don’t use that the bus system is great in Seattle. </p>
<p>As for tuition and room/board, my grandparents said they will pitch in (don’t know how much, so the rest could easily covered by my parents, and there’s not even a big need for me to take out a Stafford loan. </p>
<p>I did talk to my parents about my choices for privates and they said once acceptances come in + other aid packages they will consider things and see how it goes. </p>
<p>The other thing is I am a national merit semi finalist (probably finalist), and my dad’s company has a $5000 per year scholarship. I’m pretty sure I’ll be able to get that, and I’m applying to a ton of other ones like for the United States Tennis Association and whatnot. </p>
<p>BTW my general stats are 3.91 GPA and 34 ACT/2170 SAT. </p>
<p>Thanks so much for all your comments everyone.</p>
Is the “State and Other Tax Allowance” meant to include property tax? The percentage listed for my state would cover the state income tax and that’s about it.</p>
<p>Thanks for the updated info. You’ll just have to wait and see. U Washington is a fine school if the others don’t work out financially. Good luck and let us know your college choice!!</p>
<p>notrichenough, “state & local taxes”, yes you are correct. </p>
<p>The allowance that is calculated usually never comes out to what you pay for state income tax, property tax & personal property (we are taxed on vehicles in my state). </p>
<p>You may point that out to the financial aid office at your child’s school, they may or may not make an adjustment, that is up to them. I highly doubt a public school would make this adjustment, you would have better luck with a private school, just my opinon!</p>
<p>the living status of the financial aid officers has NOTHING to do with conforming to federal and school policies regarding the awarding of need based aid. Your sentence implies that finaid workers are going to be biased against students who have expensive homes because they (the finaid officers) don’t.</p>
<p>I certainly did not mean to suggest that FA officers are biased. </p>
<p>I was talking about the likelihood of getting some sympathy and an adjustment, which is what sometimes works (not necessarily for fed aid, but for institutional aid). We have all read many stories here of particularly sad situations where a sympathetic FA office gives more aid than it normally would. My point was that when one lives in a million dollar home (and paying the property taxes that go along with that), few are going to feel any sympathy when the an “adjustment” is sought. When people live in such expensive homes and have to pay high property taxes that those homes require, then it truly is a choice to live in such homes. I was in no way dissing FA officers.</p>
<p>^That reminds me of a comment someone once said when discussing self-employed professionals who pay themselves a small salary and then give themselves a big distribution to keep FICA payments artificially low. It was something like “don’t pay yourself less than the IRS agent who is auditing you makes, or drive a car that cost more than his salary”. </p>
<p>If a person has true demonstrated need, the system should account for that. If they just don’t want to alter their lifestyle or are trying to buck the system, that something else.</p>
<p>OP: You have a great state flagship/choice in UW. I know several people who received great educations and experiences at UW – and who would make the same choice again. As someone who has researched many Western states’ colleges recently, don’t dismiss this great option just because it’s in your back yard. Good luck!</p>
Thanks! I know UW will offer me a great education still, and I know I’m lucky that I don’t live somewhere where the state schools really aren’t that good.</p>
<p>*If a person has true demonstrated need, the system should account for that. If they just don’t want to alter their lifestyle or are trying to buck the system, that something else. *</p>