At what HHI level do you not receive financial aid?

[Anonymous]

Also, is financial aid only given at private universities with a large endowment? Such as Harvard?

[Anonymous]

I think the chart below can be used as a starting point for calculating expected family contribution (EFC).

See the full information in this Forbes article about financial aid: http://www.forbes.com/sites/troyonink/2017/01/08/2017-guide-to-college-financial-aid-the-fafsa-and-css-profile/#16a68c1f4ccb

[Anonymous]

Question. Do they only look at income when determining financial aid?

What stops someone 50 years old and HHI $250k with say 3-4 kids and net worth of $2 million (not too much, not too little) from quitting their job so that HHI is $0 and getting lots of ginancial aid for all theor kids? In this hypothetical scenario, it would make sense vs. working and shelling out 100k or more a year on tuition. Thoughts?

[Anonymous]

That chart is super interesting - and feels out of touch with the real world!

[Anonymous]

Anonymous wrote:Question. Do they only look at income when determining financial aid?

What stops someone 50 years old and HHI $250k with say 3-4 kids and net worth of $2 million (not too much, not too little) from quitting their job so that HHI is $0 and getting lots of ginancial aid for all theor kids? In this hypothetical scenario, it would make sense vs. working and shelling out 100k or more a year on tuition. Thoughts?

They look at net worth as well as income.

[Anonymous]

Anonymous wrote:That chart is super interesting - and feels out of touch with the real world!

Its meaning is this: If you are too rich to qualify for FA, and too poor to pay full price (or the EFC), and unwilling to take on $$$ in Parent Plus loans, then

(1) look for merit aid at second & third tier schools, or
(2) send your child to a public college or university.

[Anonymous]

They look at net worth as well as income so no in your hypothetical scenario PP, I don't think that would help much.

[Anonymous]

Anonymous wrote:They look at net worth as well as income so no in your hypothetical scenario PP, I don't think that would help much.

+1

Also, you would be looking at a lot of loans.

[Anonymous]

Anonymous wrote:That chart is super interesting - and feels out of touch with the real world!

Actually, we have a $125K AGI and two dependent children and this jibes pretty well with what we've been seeing on various NPCs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That chart is super interesting - and feels out of touch with the real world!

Its meaning is this: If you are too rich to qualify for FA, and too poor to pay full price (or the EFC), and unwilling to take on $$$ in Parent Plus loans, then

(1) look for merit aid at second & third tier schools, or
(2) send your child to a public college or university.

Yeah, public universities are still quite expensive though.

[Anonymous]

Anonymous wrote:Also, is financial aid only given at private universities with a large endowment? Such as Harvard?

Harvard is different. Use their NPC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Also, is financial aid only given at private universities with a large endowment? Such as Harvard?

Harvard is different. Use their NPC.

Harvard and a small number of schools with very, very large endowments are able to give financial aid to all students who qualify in the form of grants.

Harvard, the Ivies, and extremely selective universities and SLACs do not give merit scholarships, just financial aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Also, is financial aid only given at private universities with a large endowment? Such as Harvard?

Harvard is different. Use their NPC.

Harvard and a small number of schools with very, very large endowments are able to give financial aid to all students who qualify in the form of grants.

Harvard, the Ivies, and extremely selective universities and SLACs do not give merit scholarships, just financial aid.

right, and those who qualify are all under $120K or so (I'm not sure of the exact number but it's around this). There's no way your'e getting a dime on a $200K DC income.
And there's no merit aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Also, is financial aid only given at private universities with a large endowment? Such as Harvard?

Harvard is different. Use their NPC.

Harvard and a small number of schools with very, very large endowments are able to give financial aid to all students who qualify in the form of grants.

Harvard, the Ivies, and extremely selective universities and SLACs do not give merit scholarships, just financial aid.

+1

The NPC makes Harvard unaffordable for us (HHI $225K). Too bad, because our DC is qualified.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Also, is financial aid only given at private universities with a large endowment? Such as Harvard?

Harvard is different. Use their NPC.

Harvard and a small number of schools with very, very large endowments are able to give financial aid to all students who qualify in the form of grants.

Harvard, the Ivies, and extremely selective universities and SLACs do not give merit scholarships, just financial aid.

right, and those who qualify are all under $120K or so (I'm not sure of the exact number but it's around this). There's no way your'e getting a dime on a $200K DC income.
And there's no merit aid.

Nor should you. $200K is a lot of money.