Reply to What HHI for financial aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true. [/quote]

Be prepared for the fact that you almost certainly won’t get FA for college. FA in college is generally limited to those who make less than $250k ( and thanks to current FAFSA changes, most colleges don’t care how many kids you have).

It’s kind of crazy that private high schools give FA to families that colleges consider full pay. [/quote]

This is not accurate. At elite colleges, families making over 250k/yr can definitely qualify for aid. At 200k or less, MIT, Penn, and JHU waive all tuition (yes, with typical assets). Tuition alone is approaching 70k/yr.[/quote]

I agree that it’s crazy to expect families making 300k a year to pay $90k tuition, but I can assure you that is the case at a lot/most top ranked privates. In the context of college applications families making $250 ish-400ish are called donut hole families because they are too rich to qualify for financial aid and too poor to be able to really pay the tuition.

A few exceptionally wealthy Ivy type schools may be the exception, but there aren’t many of them.[/quote]

I study endowment spending in elite higher education. They are absolutely getting aid at top schools. They likely aren’t getting an enormous amount, but they often get some. I agree the colleges should be offering more aid or charging less instead of hoarding endowment returns. [/quote]

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