Hello, I am a current rising senior and considering to apply to the Questbridge scholarship. I was wondering if my family’s assets were too high to be considered as a potential finalist. Please let me know if any of you had any luck with acceptance even with “high” assets!
Parents are divorced
Dad’s financial info
House value - 1.3 Million, mortgage of 300k so equity is about 1 million
Checkings/Savings - about 300k
Income - ~50k for 5 people
Mom’s
Income of ~40k for 3 family members
I don’t see how you’d be considered a low income student if your dad has $300k in the bank and $1 million in equity in a home. And those aren’t “high” assets. They’re high compared to most median income earners and certainly high compared to low income families.
Thank you for your response!
Both my parents are first generation immigrants. The house appreciated in value from around 400k to its current market price, which is why the equity is as high as it is. I qualify for free lunch at my school, assuming that it’s because of the income of my parents.
So with that being said, I’m assuming the odds of being a QB scholar are relatively low? I’m not too sure how to go about this so any advice would help immensely.
"Finalists typically come from households earning less than $65,000 annually for a typical family of four and have minimal assets. "
From the Questbridge website. Please go and re-read the financial qualifications. Your family doesn’t have minimal assets so I don’t see how you’d qualify.