Reply to Am I doing NPC wrong? Shows decent $$

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s because you’ll have three kids in school. Roughly, they determine how much a family can pay towards college in a given year and divide that number by the number of kids attending school that year. Retirement funds don’t count toward your contribution and many  privates don’t include home equity. In sum, your assets are inapplicable here, and your income, while significant, is countered by the large number of kids in college at the same time. Just beware that need-based grants are reevaluated yearly. If your other two kids graduate college in a year, your third will be the only student and you could go from paying $50k to full freight. [/quote]

This. In their eyes, you basically have a good income, zero assets, and three kids in college at the same time. Makes sense the calculator would give you something.[/quote]
They have $400K in savings (liquid) though? [/quote]

OP said that was money in retirement, which wouldn’t be counted.[/quote]
That was not clear, and above, OP said the $400K included some 529 money. I would be cautious in thinking this estimate is accurate, OP. Maybe contact financial aid office?[/quote]

Even if the $400k is all non-retirement, it’s likely still accurate. Having two other kids in college at the same time significantly reduces your total contribution. I put all of this into Harvard’s NPC (because it’s easy) and it kicked out a $50k total cost, with a $40k scholarship. If you include the home equity as an other asset, you still get a $33k scholarship.

The main factor is the number of kids in college. They assume you pay your expected contribution for each. So if the NPC says your contribution is $50k, it’s really assuming you are paying $150k total across all kids.
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