<p>First off, I come from a low income family, I guess. It's not really low, just for the typical person applying to IVYs. So my mom is telling me that this summer I have to get a job to save up to pay for college. My opinion is that is a stupid idea, that I should volunteer all summer instead (I haven't really done much volunteering before), which would improve my chances at top schools. I would rather have a better chance to get into top schools, than $1,000 from working at mcdonalds all summer to help pay for an ivy. So my questions are: how much does getting say 250 hours at a hospital of volunteering help my chances when i've had about only 3 previously? would financial aid be available for me at top schools (the household income is about 40k, my parents are divorced)? couldn't I just take out low interest student loans?</p>
<p>If you need $ for college, the wisest thing to do would be to hold a job -- any job. Holding a job does count as an EC. In fact, it counts as a good EC because holding a job -- particularly the boring types of jobs that most high school students take -- requires a lot of motivation, maturity and responsibility. If one also holds a job to help earn $ for college, that demonstrates a great deal of determination and interest in college. </p>
<p>Frankly, I think that holding a McDonald's job because one needs to earn $ for college would impress adcoms more than would being a hospital volunteer. Many applicants to top colleges volunteer. Proportionately few hold jobs to earn $ for college.</p>
<p>If you are hoping to go to top schools such as HPYS, a $40,000 family income would put you in the low income bracket of students applying to such schools. That's a big plus because the schools want a diverse student body --and that means having students from low income as well as middle and affluent households.</p>
<p>Since far more middle income and rich students apply to top colleges than do low income ones, you're at a distinct advantage. Top colleges cost around $43,000 a year. Most Ivies give need-based aid up to your level of demonstrated financial need. At Harvard and, I think, Princeton, that means that for families making $40,000 and under, the student's parent is not expected to contribute any more to the student's college. The student, however, still is expected to contribute through, I believe, jobs and loans totalling about $8,000 over 4 years. </p>
<p>Even with such generous financial aid, however, you'd probably want to have some money set aside so that you could do things like buy dorm furnishings, visit new friends, etc., not just have enough money to pay for your books and school supplies. That's why it would be to your advantage to work and to put a lot of that money aside for college.</p>
<p>Here's a link to an article about Harvard's financial aid policy that was announced last year. <a href="http://www.news.harvard.edu/gazette/daily/0402/28-finaid.html%5B/url%5D">http://www.news.harvard.edu/gazette/daily/0402/28-finaid.html</a></p>
<p>Even though you want to go to a top college, do keep in mind that the competition for such colleges is very fierce. This particularly is true when it comes to Harvard and Princeton, which are among the most generous with financial aid. Only about 1 in 10 applicants gets accepted, and the majority of applicants to such colleges are very qualified for admission.</p>
<p>Make sure you have a back-up plan: a safety that you know you'd love, could afford, and can get accepted to. For many students who have the stats for HPYS, their financial safety is their state's flagship public university, which may have excellent merit aid for stellar in-state students.</p>
<p>One final comment: If you genuinely want to volunteer, you probably can fit some volunteer work around your work schedule even if you work fulltime. Now doing that would really impress colleges.</p>
<p>If your parents are divorced, they will still want a full contribution from the non custodial parent at most private colleges.</p>
<p>I agree with Northstarmom, schools will be much more impressed by the paid job to help with college from a low income applicant.</p>