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 9:38 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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Sinatra

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Re: Financial Aid at Top School with Middle Class Parents

Postby Sinatra » Sat Feb 03, 2018 2:44 am

Full ride scholarship so long as u maintain a 3.7+ at these schools

SolemnMan

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Re: Financial Aid at Top School with Middle Class Parents

Postby SolemnMan » Sat Feb 03, 2018 3:32 am

Surely you're joking about the middle class part, right?

Hikikomorist

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Re: Financial Aid at Top School with Middle Class Parents

Postby Hikikomorist » Sat Feb 03, 2018 2:50 pm

SolemnMan wrote:Surely you're joking about the middle class part, right?

OP is probably borderline middle class (as opposed to UMC).

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emkay625

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Re: Financial Aid at Top School with Middle Class Parents

Postby emkay625 » Sat Feb 03, 2018 3:17 pm

250K is approximately the 96th percentile in terms of household income.

bokampers

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Re: Financial Aid at Top School with Middle Class Parents

Postby bokampers » Sat Feb 03, 2018 3:28 pm

Hikikomorist wrote:
SolemnMan wrote:Surely you're joking about the middle class part, right?

OP is probably borderline middle class (as opposed to UMC).


LOL at borderline. OPs parents are UMC af.

True Middle class in this country is prob like 75-150k household. Whereas LMC is 40-75k.

To answer OP, you will get 0.

Hikikomorist

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Re: Financial Aid at Top School with Middle Class Parents

Postby Hikikomorist » Sat Feb 03, 2018 7:48 pm

emkay625 wrote:250K is approximately the 96th percentile in terms of household income.

Middle class is incredibly expansive in America, because lifestyles don't differ that much between $100k and $250k, assuming you live in an averagely expensive city.

bloomsday

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Re: Financial Aid at Top School with Middle Class Parents

Postby bloomsday » Sat Feb 03, 2018 7:52 pm

bokampers wrote:
Hikikomorist wrote:
SolemnMan wrote:Surely you're joking about the middle class part, right?

OP is probably borderline middle class (as opposed to UMC).


LOL at borderline. OPs parents are UMC af.

True Middle class in this country is prob like 75-150k household. Whereas LMC is 40-75k.

To answer OP, you will get 0.


This (the last part) is wrong. It depends on a ton of things other than parents' income, like age of the OP, whether the parents are paying other tuitions, mortgage, etc. Based on the single number OP gave us, they could very well get something.

To OP: as much as HYS make it sound like they have some formula, it's impossible to predict. As an anecdote, S offered me over four times as much as H, based on the exact same information. Just apply, and if you have some time crunch on deciding on other schools' scholarships, let them know and they'll get back to you quickly.

bokampers

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Re: Financial Aid at Top School with Middle Class Parents

Postby bokampers » Sun Feb 04, 2018 1:37 am

bloomsday wrote:
bokampers wrote:
Hikikomorist wrote:
SolemnMan wrote:Surely you're joking about the middle class part, right?

OP is probably borderline middle class (as opposed to UMC).


LOL at borderline. OPs parents are UMC af.

True Middle class in this country is prob like 75-150k household. Whereas LMC is 40-75k.

To answer OP, you will get 0.


This (the last part) is wrong. It depends on a ton of things other than parents' income, like age of the OP, whether the parents are paying other tuitions, mortgage, etc. Based on the single number OP gave us, they could very well get something.

To OP: as much as HYS make it sound like they have some formula, it's impossible to predict. As an anecdote, S offered me over four times as much as H, based on the exact same information. Just apply, and if you have some time crunch on deciding on other schools' scholarships, let them know and they'll get back to you quickly.


Willing to bet? Were your parents anywhere near this income level? OP, don't get your hopes up. 250k income + assets will get you NADA(!!!).

Please update us when you hear back.

Hikikomorist

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Re: Financial Aid at Top School with Middle Class Parents

Postby Hikikomorist » Sun Feb 04, 2018 2:06 am

bokampers wrote:
bloomsday wrote:
bokampers wrote:
Hikikomorist wrote:
SolemnMan wrote:Surely you're joking about the middle class part, right?

OP is probably borderline middle class (as opposed to UMC).


LOL at borderline. OPs parents are UMC af.

True Middle class in this country is prob like 75-150k household. Whereas LMC is 40-75k.

To answer OP, you will get 0.


This (the last part) is wrong. It depends on a ton of things other than parents' income, like age of the OP, whether the parents are paying other tuitions, mortgage, etc. Based on the single number OP gave us, they could very well get something.

To OP: as much as HYS make it sound like they have some formula, it's impossible to predict. As an anecdote, S offered me over four times as much as H, based on the exact same information. Just apply, and if you have some time crunch on deciding on other schools' scholarships, let them know and they'll get back to you quickly.


Willing to bet? Were your parents anywhere near this income level? OP, don't get your hopes up. 250k income + assets will get you NADA(!!!).

Please update us when you hear back.

The fact that law schools are blind to economic realities shouldn't be surprising.

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Wild Card

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Re: Financial Aid at Top School with Middle Class Parents

Postby Wild Card » Wed Feb 28, 2018 11:45 pm

This reminds me of AutoAdmit threads.

The median (i.e., "middle") household income in the United States is, like, $60,000, and your parents make $250K, and you yourself probably made $120K a year.

It's insane to consider yourself middle class, absolutely insane.



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