Financial Aid at Top School with Middle Class Parents

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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mrsharveyspecter

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Financial Aid at Top School with Middle Class Parents

Postby mrsharveyspecter » Fri Feb 02, 2018 9:37 pm

Hey yall. I'm looking to attend either Stanford or Harvard at this point (and Yale if I get in). Leaning towards Stanford.

I graduated college a couple years ago and have been working in the finance industry, but I don't have too much saved up. Or at least not enough to make a dent out of tuition.

My parents make around ~$250K per year combined and they have a bunch of non liquid assets.

How much financial aid would I reasonably expect with this background?

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taxman14

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Re: Financial Aid at Top School with Middle Class Parents

Postby taxman14 » Tue Apr 10, 2018 11:15 am

I've applied for aid at both S and H - you'll be getting nothing once household income > $180k. So given your parents are in the 200s, I would expect no aid whatsoever, or maybe a tiny amount of minimal aid.

DerKatze

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Re: Financial Aid at Top School with Middle Class Parents

Postby DerKatze » Mon May 28, 2018 2:44 pm

I don't have any personal experience on the matter, but I think it would be helpful to point out that your parents are by no means middle class. The median household income (including both parents) in the United States is roughly 59K per year. 250K would put a household at the 95th percentile, so your parents would be in the top 5% of all US households.

Lawgirl811

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Re: Financial Aid at Top School with Middle Class Parents

Postby Lawgirl811 » Mon May 28, 2018 6:50 pm

My parents ( dad and stepmom) have a combined income of $245,000. Georgetown did not include my stepmoms income in their calculations and just used my dads income. He makes $140k. I have 2 siblings in undergrad and I got a substantial financial aid package.

vattah

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Re: Financial Aid at Top School with Middle Class Parents

Postby vattah » Tue May 29, 2018 3:10 pm

Not sure where that's middle class, maybe NY or CA (even there that is pushing it), but for the majority of the rest of America, that's not middle class.

vattah

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Re: Financial Aid at Top School with Middle Class Parents

Postby vattah » Tue May 29, 2018 3:12 pm

There will be substantially poorer applicants for whom they'll prioritize financial aid. Just being honest. Especially when looking at HYS, which have no real incentive to offer financial aid.



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