| $450K per year is about nine times the national average for a family income. Even with three kids in college at the same time, that income will not likely net you need based aid....which is all that UPenn gives. Your other sibs in college will be factored into the formula determining your need and is NOT an extenuating circumstance.
Now...having said all of that...I have several questions...
1. Have your parents told you that they hope you will get need based aid? What is their basis for feeling you have financial need?
2. If you REALLY want to be able to compare financial aid packages...regardless of your income...do NOT apply ED. ED is binding and you know the rules before you apply...and the costs. When you apply ED, you agree to attend the school with the financial aid the SCHOOL determines you need.
3. Have you considered applying to schools where you might be in the running for merit aid? If you truly have the stuff to gain admittance to UPenn, you likely have the stuff to get a decent merit award at other schools.
4. Do you think that your financial aid packages (even if your family income is really $450K) will be different at a school that meets full need if you are accepted ED? If so, you are wrong. If the school meets full need (as UPenn does) your financial aid package should be the same if you apply Regular decision.
5. If your family income is really $450,000 per year, WHY are you afraid of the cost of attending UPenn?
Lastly, you should really post this on the Financial Aid and Scholarships section of this board...where you will get more info. |