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College and University Discussion
Reply to ""Typical Assets" as considered by University Financial Aid departments"
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[quote=Anonymous]This is OP. I have seen the 200-250k number on several selective college websites as being typical assets for a 100k family but those amounts were dated from 2008-2009. It seems that these 'typical assets" have not adjusted for asset price inflation e.g. upward move in the stock markets and real estate since then. [quote=Anonymous]Per Columbia’s website: “When determining the parent contribution, we take into consideration the parents’ assets which include cash, savings, checking, investments, home equity, other real estate (other than home) equity, and business equity. We do not include retirement assets (i.e., 401K, 403b, IRA, Keogh) in our analysis. For families with an income of $100,000, we would consider typical assets to be approximately $250,000.” So if you bought your house awhile ago, you’re potentially in trouble just with the equity, depending on how they calculate it. [/quote][/quote]
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