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[quote=Anonymous][quote=Anonymous]My daughter is a junior in high school, and has her eyes set on Yale.  I was doing some research on the cost of attending and, although they say their goal is not to make families take out loans, I just don't think that is possible.  We live in Fairfax County, as most of you know, the cost of living is very high.  We make a good salary, but not anything special for this area - above $150,000 but less than $180,000.  When I did the net price calculator at Yale, the amount we would pay is around $45,000.

I was wondering if someone who has sent their child to Yale or a similar Ivy League school could provide information on financial aid packages at these schools.  I would have to believe they would take the area we live in into consideration as the income we make here is not really that high when factoring in housing and cost of living.

Thank you.[/quote]

Do you understand that in all likelihood your child won't get into Yale. I know nothing about her, but the odds are VERY low for each and every applicant.

So spend some time considering other schools and helping her have realistic expectations

As far as your Expected Family Contribution...pretty much everyone is shell shocked when they hear what they are expected to pay. That is why you need to save for years in advance. You can't normally just absorb if out of your annual salary.. It is also why so many kids go into debt. This is another reason you have to help your kid with realistic expectations.

And no, they don't take the cost of living in your area into account. You chose to live there, knowing the cost of college lies ahead down the road. Sorry if this sounds harsh. It is just what those of us with kids in college have already learned.

I am fortunate that my child was content going to a lower ranked school that offered her very generous merit aid. It offered her the SLAC environment she sought, and seemed like a good fit. So far, she is doing very well there. So take some encouragement from this (an alternative story than the one you envision).[/quote]

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