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College and University Discussion
Reply to "What money is fair game for financial aid?"
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[quote=Anonymous][quote=Anonymous]How much are students vs parents expected to contribute? FWIW my parents paid $0. My wealthy father wasn’t factored into financial aid bc he contributed nothing to college or much else for that matter except my step mom and step kids. Mom took out a small loan which I paid back within 2 years of graduating. All the rest was me (loans, work study and summer jobs), scholarships and a little financial aid. I know times are different but there must still be a line item on financial aid that separates parent versus student financial contributions.[/quote] Student contributions will generally involve federal student loans ($5500 max for freshman year), summer earnings of a few thousand, and sometimes federal work-study during the school year. Student contributions would also include some portion of student assets, though most students don't have much - I don't know the percent. If you use a college's Net Price Calculator, you can look through the details of an estimate yourself. Much better than generalizations.[/quote]
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