<p>Hi so I was wondering if I will receive any financial aid if my family's income is around 190K?</p>
<p>Here is a list of the colleges I am applying to:
-Johns Hopkins
-Cornell
-Carleton
-Haverford
-Wellesley
-Smith
-NYU</p>
<p>If your family income is $190,000 per year, and you are the only kiddo in your family who is in college, your family contribution will likely compute to be $50,000-$60.000 or so. I seriously doubt that you will get need based aid with that income. BUT the only way to know is to apply and see what happens.</p>
<p>P.S. each of these schools has a net price calculator. You can put your family financial information into these and you should get an estimate of the aid you will receive.</p>
<p>my income is 330000 and my EFC is 44000…depends on your family situation</p>
<p>As I mentioned, if you have multiple siblings attending college at the same time, or a family with 8 children (and therefore 10 family members) this will affect your EFC.</p>
<p>FAFSA EFC won’t really tell you anything about aid at these schools - they all use CSS Profile.</p>
<p>NYU gives notoriously poor need-based aid, so the chances there are not good.</p>
<p>And if your income is higher but your family owns the business, you may find that your family contribution is well above the FAFSA EFC. Some business deductions allowed by the IRS for tax purposes are added back in as income for financial aid calculation purposes.</p>
<p>Since the schools listed by the OP also use the Profile, it is also possible that some will factor in primary home equity to a greater or lesser degree.</p>
<p>my income is 330000 and my EFC is 44000…depends on your family situation</p>
<p>Is that a FAFSA EFC? If so, it’s not going to matter for a CSS school AND it indicates more than one child in college.</p>
<p>If it’s the “family expectation” from a CSS school, then again it sounds like there are more than 2 in college and both kids are attending schools that very generous…like HYPS. The OP hasnt applied to any of those schools.</p>
<p>Collegebound…If you are the only child going to college, then you will not likely get much or any aid from the schools on your list. Your “family contribution” will be about 33% of your income.</p>
<p>Beautifulchick…</p>
<p>Do you have any siblings in college? </p>
<p>Also, since it doesn’t look like you’ve rec’d any FA pkgs yet, it looks like you’re going by your FAFSA EFC. Your dad is a doctor earniing big bucks. He likely also has investments and his practice has value. Don’t be surprised if you find out that you don’t get any or much aid from a CSS school unless you have a sib or two in college.</p>
<p>If you don’t have a sib or two in college, then likely you made a mistake on FAFSA.</p>
<p>Yes and one in a private elementary school hence why i said depends on your family situation</p>
<p>Some colleges do NOT consider money for private elementary or high school in their financial aid calculations. Some colleges do. YMMV.</p>
<p>The vast majority of colleges will not consider that private school tuition for high school or below (unless the child has a special need that requires this). Schools are in the business of providing need based aid to families with financial NEED. They are not in the business of providing need based aid to wealthy families who have made a choice to spend money on schooling that is an optional expense.</p>
<p>My sister is austic…sooooo…yeah…and she has a rare chromosome disorder…plus my brother goes to UCLA OOS… plus most of my families expenses are medical…to take care of my sister…so i wouldnt call that an optional expense? would you?</p>
<p>The special needs sister’s expenses are likely not optional…at least in part. The choice to attend UCLA as an OOS student, however, is a choice.</p>
<p>Plus, your sister’s medical bills would be viewed as a special circumstances consideration by each college to which you applied. It is not reflected in the FAFSA EFC.</p>
<p>Yes and one in a private elementary school hence why i said depends on your family situation</p>
<p>The private elem tuition isn’t figured at all on FAFSA, and so far, that’s all the results that you have.</p>
<p>How many students (including yourself) did you list as going to college? 2? 3?</p>
<p>Did you include your sister’s private elem school in some way? It sounds like you did because you’re using that as a reason why your EFC computed as it did. It could only compute that if you somehow included it. </p>
<p>Did you list your sister as being in college since she has tuition???</p>
<p>Your brother attending UCLA (regardless of cost), just counts as a sibling in college. So, the FAFSA EFC splits 50/50. </p>
<p>CSS schools do not use a 50/50 split AND CSS schools are going to consider OTHER things, such as maybe the value of your dad’s medical practice and investment retirement accts, and probably the value of your home. </p>
<p>With your dad’s income, your EFC with ONE child in college would be more than $80k, so likely a mistake was made somewhere. And, your sibling’s medical expenses would not have been figured in at this point.</p>
<p>As for your sibling’s medical expenses, only those not covered by insurance will even get considered. Then, after that, there is a formula that takes into acct your dad’s income…I think it’s something like 10%…so in your case over $30k. So, your sibling’s unreimbursed medical expenses would have to exceed that number. And even then, the reduction in EFC is NOT dollar for dollar. It’s much less. Kelsmom might chime in on this with more info.</p>
<p>I just want to point out beautifulchick who everyone is answering is NOT the OP. She answered the OP and people started running with her info.</p>
<p>Yes, we’re aware of that. We just didn’t want the OP being misled by what Beauty wrote.</p>
<p>I wasnt trying to mislead anyone i just wanted to share my opinion that every FA situation is different…</p>
<p>Thanks for all the input! Yeah, I will be the only person of my family of 6 going to college next year. Also, my parents do not own businesses or any investments. They are college professors. Will this hurt my chaces of getting FA?</p>
<p>Does either of your parents qualify for a tuition exchange program of some kind? One os those can almost negate the need for traditional fin aid.</p>
<p>No, they both work at a public university, so I get free tuition at only that university. However, the school does’t really, so I hope I can go elsewhere.</p>