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Reply to "Maximum HHI for obtaining financial aid?"
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[quote=Anonymous][quote=Anonymous]I think it depends heavily on the endowment for the school and the financial aid applicant pool. That said, it will probably be an uphill battle given what you say about your finances. We thought we'd qualify for FA and we were essentially laughed at - the amount they said we could pay, according to the FA calculators was absurd unless we sold our house and spent all of our assets. One of the issues is that your house, your 401K, your savings, all come into play when it comes to estimating what you can afford. It's all considered accessible income. So if you have little debt and the HHI you described, I'd find it hard to imagine you would get FA. But yes, do apply! That was our approach. If they want you, but they don't want to give you FA, they will just say that.[/quote] Typically, your savings would absolutely be in play, but your 401(k) and your home equity would not. I think that’s reasonable. [/quote]
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