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Reply to "any surprises in terms of financial aid for upper middle class kids?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm wondering whether people with $200-$250,000 in household income (two government employee parents) are getting any financial aid from the schools where total costs are $60,000 plus/year? I know there are tons of factors like how many kids in the family, how much savings, etc., but I'd love to get a big picture sense of whether it makes sense to fill out the FAFSA and whether we could possibly get even $5-$10,000 in aid. By the time the first kid goes to college, I imagine we would have about $100,000 in a 529 plan for that kid, and considerable retirement savings (which I'm told doesn't count) and home equity (which I'm told doesn't count). I know we're fortunate, but finding $60,000 in after-tax money seems pretty hard, with other kids and grad school to think about also.[/quote] Retirement and house equity don't count on the Federal estimate,but some privates use their own and take into consideration retirement, house equity, zip code COL......[/quote] Schools that require the CSS do take e.g. house equity into account.[/quote]
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