Reply to ok, don't crucify me.. question about financial aid.

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[quote=Anonymous][quote=Anonymous]I am also interested in this. Is there a formula to it? I would love to see it. We might go private at some point if Arlington can't figure stuff out.

Our HHI is 220K, we work full time, modest home with 2nd mortgage, 2 kids that we need school, no debt outside home.[/quote]

There's really no formula that is publicly accessible.  The different financial aid companies (SSS and TADS are two big ones around here) have you input all of your financial info (debts, assets, income, etc) and they provide the school with a readout of your data along with an "expected family contribution" - basically a calculation of how much disposable income you have (it is a little more complicated than that, but this is a broad brush answer).  The school then applies its own financial aid policy (what is the budget for financial aid, how long will they have to carry you, what other financial aid requests are there for a given year, etc etc).  The school will then make an offer of aid (or not).

As someone else suggested in this thread, it isn't a pure function of your HHI.  What other assets do you have, including equity in your home, retirement, and savings accounts?[/quote]

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