<p>I’m talking about 1/2 million to 1 million in assets.</p>
<p>Very reasonable for a thrifty middle income family, or a family that is middle income and received some inherentience.</p>
<p>It surprises me that how many parents could not think straight. </p>
<p>Most of the T20 will meet 100% of the demonstrated needs. I told you that I think their package from those t20 other than HYPSM will be less than 30K. That basically tells you that if one use any EFC calculator, their EFC will be around 30K.</p>
<p>Since EFC is predominately from income… … do you want me to do the math for you? </p>
<p>One more way to connect the dots for you. If your institutional method EFC is around 30K, the data says you should expect 40 - 48K FA from HYS. </p>
<p>Some of you always have a negative mind setting, trying to find faults in everyone’s post and don’t ever think about the positive intention.</p>
<h1>81. any family with $500K cash should not get need based FA. I don’t know how many families with $150K income will have $500K liquid cash. If your 150K is from salary, that means 5 years agao, that was just 130 K, etc.</h1>
<p>And T20s are CRAPSHOOTS. Why don’t you get that?</p>
<p>
</p>
<p>It isn’t necessarily just investments. Rental homes and vacation homes come to mind.</p>
<p>
</p>
<p>And they won’t. Not to worry.</p>
<p>JMY626 you made a very good point
</p>
<p>However, I don’t agree with about the people who are being reckless with their money is foolish. They actually very smart and figure the system out. They are the one who get the others to pay their mortgage, their children’s education, their medical expenses and their retirement. </p>
<p>One friend told me - why do you think goverment wants you to save? because they have a place to get more money when they need. why do you think financial institutions want you to save and invest, because the whole industy lives over your money!!!</p>
<p>You can have 1 million in assets and still cannot afford to send your child to college…?</p>
<p>“It isn’t necessarily just investments. Rental homes and vacation homes come to mind.”</p>
<p>Isn’t your child’s college education more important than vacation homes?</p>
<p>Dad II, I thought you were trying to tell kids to go ahead and try for the top Ivies, because they MAY give you a better financial deal than going to a lower ranked private school. I agree with you. </p>
<p>I know several students whose families have much higher incomes than we have and they are reluctant to let their kids apply. They have been told (with incomes over $100,000, up to $200,000 in assets, and home equity) that they will be full pay. They were advised to follow the merit $. Going after merit $ is a fine option as well, but sometimes students find that the $10,000-$15,000 merit award is all they get. No grants, just students loans and then gapping. </p>
<p>DAD II, I thought you were pointing out that the TOP Ivies (at least) would probably offer a better FA deal. According to Yale’s website, as of the 2009 changes, a family with $120,000 income and $200,000 in assets would be expected to pay $23,050/yr. That’s about what our state university costs us. Ivies DO expect students to make a student contribution and a summer contribution as well, but they don’t include any loans. Keep in mind that work study can be used to fill one of these contributions and Yale’s work study 3 years ago paid $11/hr. When my son was accepted, home equity was not included in our assets - or at least we were told that by another Ivy who took a look at Yale’s generous FA offer. </p>
<p>[Yale</a> Cuts Costs for Families and Students | Financial Aid | Freshmen | Office of Undergraduate Admissions](<a href=“Home | Yale College Undergraduate Admissions”>Home | Yale College Undergraduate Admissions)</p>
<p>Do you think the T20 schools are large enough to accommodate all the students who are smart enough to be “worthy” of them, Dad Ii?</p>
<p>
</p>
<p>I have never seen this, not once. It looked to me like the CSS Profile has seen all the tricks and their questions are designed to account for all the assets. I just haven’t seen what I quoted.</p>
<p>The people I know who are receiving need based assistance are receiving what I would consider an appropriate amount given their circumstances. Those who I would consider to have means are receiving very little assistance. Those who are receiving generous packages need every cent. In the end everyone is eating rice and beans for dinner.</p>
<p>
</p>
<p>It certainly would be for me.</p>
<p>I’m also surprised that people with a million in savings/investments and/or vacation homes are complaining they don’t qualify for FA.</p>
<p>
</p>
<p>Doesn’t DadII mean those parents who spend money recklessly and hence have a huge amount of debt, resulting in lower assets and so on, so that ironically, their kids can go to schools with better financial aid packages? I don’t think he means the parents who try to hide their assets; he’s refering to those who are so reckless and irresponsible that they no longer have any.</p>
<p>PG ref #83. I really don’t thin that is true. beside, this is about FA, not the admission. </p>
<p>Let’s use real examples. A MIF’s EFC is $30K. the student is very smart, work hard, and wants to attend a very well fit program in one of HYPSM. W/o knowing what I posted, the parents wil tell their child - we have a high EFC but we really can’t afford to pay $30k a year. So, don’t even think about. (read #87 again. jerzgrlmom (thank you) got it exactly right, with real example)</p>
<p>With the information, the parent may encourage their kids to include HYPSM in the application target. because their FA would reduce their contribution to less than 30K. </p>
<p>I am tired of writing long disclaimers. Everyone knows that this is a very very complix process and there is no way I could cover every angle. Take the information for whatever it worth for you. you could always find something not covered. I am always of good will and trying to help. if you don’t find what I said helpful, walk away. There is no need to attack me personally. It is not cool to drag out some 5 year old post and use that against me. It is not cool to drag my kids into any of these discussions. They did not offend you in any way.</p>
<p>
</p>
<p>I don’t know that they are. Maybe they are just complaining about how expensive an education at a private college is.</p>
<p>
</p>
<p>Yes, I’ve seen that. The few examples of this I’ve seen were the same people who weren’t that committed to their kids educations anyway and they were full pays at the state schools. I have never seen anyone who lived beyond their means and then got a generous financial aid package to a private college. It may exist, I’ve just never seen it.</p>
<p>jerzgrlmom: POST #80, 87</p>
<p>YOU NEED TO BE CAREFUL WITH WHAT INSTITUTE CLAIMS</p>
<p><a href=“http://www.princeton.edu/admission/financialaid/how_it_works/who_qualifies/[/url]”>http://www.princeton.edu/admission/financialaid/how_it_works/who_qualifies/</a></p>
<p>Even though Princeton claim average FA of $17K for 200K or up. It will not provide FA unless you have more than 1 child.</p>
<p>You don’t even need any savings in bank to not qualify.</p>
<p>
</p>
<p>I clearly indicated that it is about the $150K income or above that these institutes have problem. I can’t talk about Harvard as DD was not accepted there and Yale as DD never applied. But I’m sure that this family listed must be having multiple children in college.</p>
<p>
</p>
<p>The PARENTS aren’t complaining. They saved enough to send their kid to an in-state college.</p>
<p>The KIDS are complaining. They still want to go to Stanford or MIT but their parents are unwilling to pay for an expensive school and the kids don’t qualify for need based financial aid.</p>
<p>
and these are the people who are lower than the dirt on the bottom of my shoe, dadII. By the way, post # 82 was insulting to every poster here. Each day, new insults. Good grief.</p>
<p>My point is that it’s hypocritical for schools like HYP to set up an FA model intended to encourage accessibility to all students when that model is contingent on many of those students’ parents paying a LOT of money. The problem is that the students are adults, not wards of the parents any longer. </p>
<p>For the Ivy FA model to work, it must be assumed that the prosperous applicant’s parents are willing to foot the big bill. Many are not. So if it’s “fairness” that HYP is trying to achieve, they’d better re-think the model.</p>
<p>But you HAVE to assume that the parents will foot the bill. Otherwise, what prevents the rich kid from claiming “my parents don’t want to pay” when in fact they can?</p>
<p>Pizzagirl,</p>
<p>You’re exactly correct. </p>
<p>Basically, what we’re saying is that it is a parental decision as to whether they will send their kids to an expensive private school if given the opportunity, assuming their financial status allows them to pay the bill. It’s not the kids decision.</p>
<p>However, if they qualify for financial aid, then it is the kids decision on whether they want to attend because it brings the cost of attendance to a low enough level that is on par with state schools.</p>