How does need-based aid work?

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slawww
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How does need-based aid work?

Postby slawww » Fri Feb 08, 2013 9:05 pm

I am a K-JD and have been dependent on my parents. My dad makes a good 6 figure salary & my mom makes 20k <, so my dad pretty much supports our entire family of four. My question: would I be able to get need based aid if my dad makes a pretty nice salary? Even though he makes great money, expenses are quite high, and we certainly don't live a lavish life. Thanks!

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fatduck
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Re: How does need-based aid work?

Postby fatduck » Fri Feb 08, 2013 9:14 pm

depends on the school, and very few give out need-based aid as it is. i wouldn't expect much/anything with a >$120k parental salary unless your sibling is also in college.

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slawww
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Re: How does need-based aid work?

Postby slawww » Fri Feb 08, 2013 9:25 pm

fatduck wrote:depends on the school, and very few give out need-based aid as it is. i wouldn't expect much/anything with a >$120k parental salary unless your sibling is also in college.


That's what I was thinking. My sister is also in college and will be pursuing her Ph.D next year. Not sure if that will matter?

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fatduck
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Re: How does need-based aid work?

Postby fatduck » Fri Feb 08, 2013 9:32 pm

slawww wrote:
fatduck wrote:depends on the school, and very few give out need-based aid as it is. i wouldn't expect much/anything with a >$120k parental salary unless your sibling is also in college.


That's what I was thinking. My sister is also in college and will be pursuing her Ph.D next year. Not sure if that will matter?

they will usually consider loans that your parents are paying for (e.g., parent PLUS loans from her undergrad). i still wouldn't expect much if anything.

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slawww
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Re: How does need-based aid work?

Postby slawww » Fri Feb 08, 2013 9:34 pm

fatduck wrote:
slawww wrote:
fatduck wrote:depends on the school, and very few give out need-based aid as it is. i wouldn't expect much/anything with a >$120k parental salary unless your sibling is also in college.


That's what I was thinking. My sister is also in college and will be pursuing her Ph.D next year. Not sure if that will matter?

they will usually consider loans that your parents are paying for (e.g., parent PLUS loans from her undergrad). i still wouldn't expect much if anything.


True, that's what I was thinking. Thanks for the insight.




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