UrbanBaby - What is the income cut-off to qualify fo...

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What is the income cut-off to qualify for financial aid at a private school?
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05.27.09, 01:54 PM [ Flag ]
- roughly 200K, but there are factors that apply (e.g. number of kids, assets, both parents working, etc.)
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  05.27.09, 02:33 PM [ Flag | link to this post ]
- Is that pretty much a baseline? Anyone know? 200k and below for fa?
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  05.27.09, 03:29 PM [ Flag | link to this post ]
  - figure 10-15% of hhi income toward tuition--with 15% at 200K level
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    05.27.09, 04:31 PM [ Flag | link to this post ]
    - If you have a higher hhi but artistic professional careers (hence need more cushion), would that be considered?
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      05.27.09, 04:44 PM [ Flag | link to this post ]
      - no-if you are a garbageman and make 500,000 you dont qualify
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        05.27.09, 04:52 PM [ Flag | link to this post ]
- my dh makes 125 and i make 84--would we qualify?
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  05.27.09, 04:53 PM [ Flag | link to this post ]
  - How many kids and how much do you pay for each (tuition or childcare)? You're close or over the limit for one child, I think.
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    05.27.09, 05:03 PM [ Flag | link to this post ]
- it is not a straight income test. SSS balances income and assets (including the value and equity in your home if you own one, investments and bank account balances). they also look at your monthly expenses, but they will flag where expenses are out of line with income (ie you are living in a $6000/mo apartment but making $100k). schools use SSS as a guide and then increase/decrease awards based on their own criteria. even second homes do not necessarily disqualify you, but I would say (and I have experience) that as a rule of thumb, anything around 200k or more is a tough sell (although you might get a small award).
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  05.27.09, 06:38 PM [ Flag | link to this post ]