New University of Pennsylvania financial aid thresholds

[Anonymous]

Anonymous wrote:Where were all these policies when I went to college. Other than subsidized Stafford loans, I didn’t get crap, despite having two non college educated parents and HHI 60k. Loans for me. It sucked.

At least you got to go. My husband had to do military and did not get his degree till late 39’s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

tell me you have always been uber rich without telling me. good grief.

DP. Totally.

The miss the old days when tuition kept the lower orders out

[Anonymous]

Maybe colleges need to adopt the Finnish traffic fine system where tuition is based on your individual financial situation.

I recall one of the Nokia founders (back in the day) getting like a $275,000 speeding ticket because he was a billionaire...whereas the average guy next to him would have gotten a $50 ticket.

I mean...Bezos' kid is at MIT (or graduated)...we all agree he should pay more than any of us...maybe he should have to pay $5MM per year which is still much less to Jeff Bezos than $90K is to someone earning $500k.

[Anonymous]

Anonymous wrote:MIT just announced free tuition for everyone under 200k.

Why do these universities try to do so much social engineering? How about just giving everyone the same flat rate? (that would obviously be a lot less than current list price)

Because they are trying to avoid money being a reason for the best students not to attend the best schools

[Anonymous]

Anonymous wrote:Where were all these policies when I went to college. Other than subsidized Stafford loans, I didn’t get crap, despite having two non college educated parents and HHI 60k. Loans for me. It sucked.

Did you go to MIT or Penn?

[Anonymous]

Anonymous wrote:Maybe colleges need to adopt the Finnish traffic fine system where tuition is based on your individual financial situation.

I recall one of the Nokia founders (back in the day) getting like a $275,000 speeding ticket because he was a billionaire...whereas the average guy next to him would have gotten a $50 ticket.

I mean...Bezos' kid is at MIT (or graduated)...we all agree he should pay more than any of us...maybe he should have to pay $5MM per year which is still much less to Jeff Bezos than $90K is to someone earning $500k.

Or he could just send his kid to oxbridge instead.
The colleges get their money out of them in other ways.

[Anonymous]

Needed to do something to keep everyone from going to southern schools.

[Anonymous]

What this shows is that essentially no middle class people attend these schools, so they can afford to give these full scholarships to a few students.

[Anonymous]

Anonymous wrote:Where were all these policies when I went to college. Other than subsidized Stafford loans, I didn’t get crap, despite having two non college educated parents and HHI 60k. Loans for me. It sucked.

You didn't go to an Ivy League school.

[Anonymous]

Anonymous wrote:Effective in the 2025-26 academic year, Penn will no longer consider the value of the primary family home among assets in determining the amount of financial aid eligibility and will raise the income threshold for families eligible to receive full tuition scholarships from $140,000 to $200,000 with typical assets.

Question is what are typical assets? How many people make 200k and have limited liquid assets? Or do they intentionally try to keep them out of liquid accounts?

So, middle class people who rent get screwed?

People who haven't poured all their savings into how equity get screwed?

[Anonymous]

How fast does the price ramp up for people slightly avoid the "pay $0" threshold?

[Anonymous]

Anonymous wrote:What this shows is that essentially no middle class people attend these schools, so they can afford to give these full scholarships to a few students.

BINGO!!!

[Anonymous]

Anonymous wrote:What this shows is that essentially no middle class people attend these schools, so they can afford to give these full scholarships to a few students.

I'm middle class, and both my kids attend Ivies. Eliminating home equity benefits the middle class. What this shows is that middle class gets great FA at this schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Penn eliminating home equity is a much bigger change than the income threshold raised $50k.

I bet there were plenty of $150k applicants with $250k+ of home equity. That was why Princeton’s aid packages were always much more generous for two identical families.

This will open up aid to a large group…I gather existing students can now request aid based on these changes?

Actually income change is bigger, IMO. Savings/equity don't count nearly as much as income when it comes to calculating EFC. And they probably already had some factor to treat home equity less than savings. I think a lot of colleges that still consider home equity, even without a cap, somehow qualify it.

+1. As a HoH filer with 145K income, the income difference definitely helps me more. My home equity is also somewhere around 50-60K. Hoping more schools will follow by the time my kid applies.

[Anonymous]

Anonymous wrote:How fast does the price ramp up for people slightly avoid the "pay $0" threshold?

Hopefully no faster than dollar-for-dollar, but there’s no legal reason they can’t just hike the price to $90k for a family making $200,001.