<p>A while ago, my parents have said they’ll contribute 15k-20k per year. Income is higher than expected this year, though, so maybe that number will actually be a bit higher. They don’t want to talk about it specifically until I receive all my acceptances. </p>
<p>However, the higher than expected income could also reduce need-based financial aid, if any. Also, if the income goes back down in future years, that may force you to drop out or transfer if your college is at the very edge of affordability.</p>
<p>Assuming $15,000 parental contribution, then:</p>
<ul>
<li>Rutgers at $15,000 is affordable with no student contribution (work earnings or student loans).</li>
<li>Maryland at $25,000 to $30,000 would require a student contribution of $10,000 to $15,000. $10,000 student contribution is generally considered the edge of reasonable student self-funding ability ($5,500 direct loan + $4,500 work earnings).</li>
<li>Northeastern at $35,000 to $40,000 would require a student contribution of $20,000 to $25,000. This is generally considered to be out of reach of reasonable student self-funding ability.</li>
</ul>
<p>If your parents’ income is variable or uncertain, or they are not able to give you much assurance about what they are able and willing to contribute (including for future years), then Rutgers is the obvious choice, since you should be able to make up the cost in future years with work earnings and/or direct loans even if their contribution falls to as low as $5,000.</p>
<p>Yup, thanks for the breakdown. I’ll have to clarify how much they will actually contribute. </p>
<p>I think the unexpected rise in income is due to the fact my dad started working recently after being laid off - at this stable job for 2 or 3 years now. Northeastern is definitely not an option at this point. I do prefer Maryland, but I’ll see if costs will really have me attend Rutgers. </p>
<p>Don’t make a decision now. Wait until you have your financial aid award letters. Then come back to post, we’ll gladly give our opinion :D</p>
<p>Seems like your father’s line of work is not that “stable”. Probably safest would be for you and your parents to consider the scenario where he is out of work while you are in college. You do not want to be at a college where you will be forced to drop out if he loses his job.</p>
<p>@MYOS1634 Will do. </p>
<p>My parents work at the same hospital now where my mom as been working for many years, and I’m pretty sure his job is secure. </p>
<p>@MYOS1634
Update: Northeastern is out of the running at 45k a year.</p>
<p>Stevens Institute of Technology (got 30k in merit and into the Scholars Program and can get Bachelor’s and Master’s in 4 years, though probably 5 years since I want to do co-op) is now an option. Stevens costs, after the 5,500 loan 25k/year. </p>
<p>Waiting on Maryland’s financial aid/merit package. </p>
<p>Okay, so: Rutgers, Stevens, or possibly Maryland?</p>