Reply to MCPS competitive college acceptance very poor

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[quote=Anonymous][quote=Anonymous][quote]The Ivies don't offer merit aid or FA for family income under $120K. 
Could you please provide any reference? I know that HYP offer FA to low income families. Here is a calculator for estimating FA from Harvard. https://college.harvard.edu/financial-aid/net-price-calculator [/quote]

The ivies and several other top institutions don't offer merit aid, only aid for demonstrated financial need.  Sometimes this aid includes subsidized loans in addition to scholarships/grants and work-study, so this is "aid" but perhaps not as most parents who don't want to give their kids a high debt burden see it.  Schools with large endowments like Harvard tend to be more generous for qualified students, but one thing to keep in mind is that there are a variety of things that might come into play when you are talking about financial aid.  For example, assets, number of people in the family, number of kids in college.  For an HHI of $120K, the aid picture is going to look a lot different for a family of 3 where the parents have a healthy amount in savings and assets in the stock market than it will for a family of six with limited savings and a couple kids in college.  Perhaps for a typical situation in this area (small family, healthy amount of savings and assets), the aid package might not be super doable for an upper middle class family that is financially risk-adverse.  These things are so situation dependent that it's hard to make generalizations--just apply where you are qualified and look at the financial aid packages.[/quote]

That was my post above. Yes, FA is very dependent on your family's situation, and I sort of glossed over this issue when I cited $120k. If you have another kid in college, for example, this may qualify your kid for FA, but having siblings in private school won't help.

Harvard and maybe a few other Ivies have promised to help middle class families with grant aid. But the range of generosity varies. I think it's the case that Harvard, which has the biggest endowment and offers the most generous FA, has promised aid to any family with HHI under $120 (and presumably depending on things like having other siblings in college). This aid is on a sliding scale, so the kid from a family with HHI=$50K is going to get a better package than the kid with HHI=$120k. As I say, Harvard has a huge endowment and can afford to be more generous with FA than any other Ivy. And, of course, your kid has to get into Harvard....[/quote]

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