Anonymous wrote:

Anonymous wrote:If they use the standard FA forms and service, there is a formula that calculates what you can contribute. Most are going by that formula as a cut off.

aren't you supposed to put in an estimate of what you think you can afford? or does the formula actually calculate this for you?

Both. Some FA companies do ask you what you think you can afford. But they also include an amount they think you can afford to pay.

Anonymous wrote:If they use the standard FA forms and service, there is a formula that calculates what you can contribute. Most are going by that formula as a cut off.

aren't you supposed to put in an estimate of what you think you can afford? or does the formula actually calculate this for you?

If they use the standard FA forms and service, there is a formula that calculates what you can contribute. Most are going by that formula as a cut off.

Determining financial aid takes your entire financial picture into consideration (income, savings, retirement contributions, home, cars, etc....). Every family is different and schools look at each family individually. If you feel that you cannot afford tuition, please have a conversation with the director of financial aid at the school you are interested in. It is the only way to know whether or not you will qualify for aid.

What happens if you own your home?

Is this taxable income or gross?

There's no defined cutoff. Your HHI only tells one piece of your financial picture.

At ours, 150k with one kid. 175k with 2 or more

I've heard rumors that for some schools if your HHI exceeds $175k you will not qualify for any aid. Is this standard?