What would be the value of assets typical of a 115K USD income per year?

Paying for College
1

Hi, I wanted to find out what would be the value of assets typical of a 115K USD income per year. Colleges usually give estimates of aid saying Y income and typical assets. For this income, I wanted to find out what would be the value of typical assets.

2

Just run the NPCs of colleges you’re interested in. Or MyinTuition for certain colleges.

3

https://fafsa.ed.gov/spa/fafsa4c/#/landing suggests $64,556. However, that assumption may not be the same as what a college may assume.

But, as noted above, you can just run the college’s net price calculator from its web site to get an idea of what financial aid it may offer to you.

4

According to other threads, the OP is an international student. The net price calculators will not be accurate for him.

5

Many of them can be accurate. They ask questions to determine if the student is an international student and then show no financial aid if so.

6

@goldmidnight7 : There should not be a typical answer because there are too many variables that might affect one’s ability to accumulate assets on a salary or earnings of $115,000 per year. For example: Is this a single person or a head of household ? How many dependants ? Where does this person live (big difference if in a major US city such as New York City or San Francisco versus Kansas City or Pittsburgh) ?

7

The person’s age will matter a lot in terms of what a “typical” net worth might be. A couple who had kids when they were 20, and are now 38 with a child applying to university is likely to have a different net worth than a couple who had kids when they were 40 and have a child applying to university when the parents are 58.

Also, where you live will matter. $115 per year is not much to live on if you live and work in Manhattan (downtown New York City). It however would go a lot further if you are in many small rural towns.

I have met people with an income more than twice this who never saved a penny in their life. I have met people with an income less than this who save 20% or more of their income. Lifestyles can vary a lot. The US is a rather diverse country in many ways including lifestyles and views on frugal living.

8

30% less than they were a month ago.

(Sorry, couldn’t resist.)