Reply to "Typical Assets" as considered by University Financial Aid departments

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[quote=Anonymous]It's my understanding that each college calculates a family's assets differently, which can result in very different financial aid packages. This is particularly true for home equity.

I work for the government and have a middle-class income. But the house that I bought in 2014 has more than doubled in value, making it a seemingly big asset on paper. It's far from the worst problem to have. Still, for a school like Vassar, it means we'd get almost no financial aid. On the other hand, Skidmore does not seem factor in home equity in the same manner, and thus provides more than twice as much financial aid despite having a much smaller endowment than Vassar. These are just two examples, but I've gotten very different financial aid estimates from peer schools.

Anyhow, most people can get a pretty good sense of potential financial aid by taking out their tax returns and using a school's Net Price Calculator. I've found that many school's financial aid officers are very willing to have a call or Zoom to discuss things in greater depth.[/quote]

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