Reply to How Good is A Score of 31 on the ACT?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]From Harvard's financial aid page. See the word "loan".  You haven't done the FAFSA, the CSS or the IDOC yet, have you?  I have. It's not as simple as you think. YOu have to report info on your house (date of purchase, current value), your cars, all your assets, bank savings, income from any other source, etc.  It's not as simply as saying HHI of $170 = $20K obligation.  And most of the people on this board make more than $150 so the whole issue becomes moot.

"A variety of options

In addition to need–based scholarships, we also offer financing options such as a parent monthly payment plan, various loan programs, and the opportunity to pre-pay tuition for four years at your freshman year rate.

We will also help you find alternative sources of financial assistance, like research grants and student employment in our libraries, dining halls, museums, and academic departments."[/quote]

[b]Not moot at all.[/b]  65% of students receive some form of aid from the school.  So, if you ignore this possibility you do so at your own peril/expense.  And despite what you think - as this is not the Private School Forum - the majority of us do not make more than $150k (median DC MSA income is about $90k).  Unless, you believe that those at the median should not be included in this discussion.[/quote]

It's moot for many families because dual income families in this area often exceed $150.  So all your protesting that Harvard is cheaper than in-state is only for those families between 0 and $150K witih a dribble over that (note Harvard's wording is very vague).  Our income is at least twice that but we have other kids in college right now, a recent death after prolonged in the family, two other parents that need to go into retirement homes and our own retirement planning is being ignored.  So for that type of family, in-state is by far the best choice because otherwise we will be paying the full frieght of $65K, which we cannot afford.  And yes before you get snotty about "well you should have prepared better", we did by starting trusts when all our children were born (this was before 529s).  Those got decimated in the stock market crash of 2008.  Then we found out one child has Special Needs so upon advice of accountant, drained the college funds to pay for SN treatment, tutoring and private school.  Life's not a bowl of cherries.[/quote]With the financial and other issues you just described, I'm surprised you aren't receiving any financial aid.  I haven't been closely following the comments but did you apply for any no-loan aid?

My niece is at an Ivy with parental income in freshman year over $250k and received $5k in aid.  Family income dropped $100K (one parent stopped working due to serious health reasons) , downsized house (not a ton of equity in the house), and like you, supporting elderly parents.  Long story short, my niece has received $25,000 in no-loan aid going into junior year.  This is a tremendous relief for the parents.[/quote]

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