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Can My Daughter get Financial Aid if parents have lo income and high assets?

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Replies to: Can My Daughter get Financial Aid if parents have lo income and high assets?

  • Mom2aphysicsgeekMom2aphysicsgeek Registered User Posts: 3,703 Senior Member
    edited October 10
    Oops. I copied and pasted the wrong lines in my last post. Too much multitasking. You should look at line n)
    Number of students in line a who had no financial need and who were awarded institutional non-need-based scholarship or grant aid (exclude those who were awarded athletic awards and tuition benefits)
    on the CDS.
  • momof2leftiesmomof2lefties Registered User Posts: 23 New Member
    edited October 10
    @gearmom, a few that come to mind are Denison, Viterbo, Evansville, DePaul, Otterbein...I am sure there are many more if you do the proper searches. Not all of them are strictly LACs, but close. Many of them offer to meet full need and also give out significant merit awards.
  • thumper1thumper1 Registered User Posts: 63,081 Senior Member
    @momof2lefties

    Which of those schools guarantees to meet full need for all accepted students? I'm quite familiar with the list you posted in post 198. Yes, there are kids at those schools who do receive generous merit aid...but it's not a guarantee...for anyone.

    You will find kids at almost every college on full rides (some with need based aid...some with merit aid). The problem is...these are not plentiful in number...they just aren't. And they are not all that easy to get.
  • momof2leftiesmomof2lefties Registered User Posts: 23 New Member
    edited October 10
    Denison claims on their website, and in many published articles, to meet 100% need. (Need can include loans, of course, in the world of financial aid). A number of the others offer partial tuition merit scholarships automatically once you meet certain GPA/ACT thresholds which it appears the OP would achieve. (I have spoken extensively with several of the financial aid offices I named, as my kid is applying to some of them. I don't think that they are deliberately misleading me.) One that I did not mention, Berea, also guarantees to meet 100%. Obviously, not everyone will get a free ride, and I didn't say that in my post. But many of the smaller, less-known schools do give a significant amount of aid to a large percentage of their students, especially kids whose parents' net income is as low as the OP.
  • lookingforwardlookingforward Registered User Posts: 24,145 Senior Member
    edited October 10
    Meet 100% need with 560k assets?
    I mean, one can't let the "100%" mislead.
    And again, until this family revisits "Northeast" and "city," I just don't think we've hit the right suggestions, if any.

    Some eager college outside Chicago, maybe.
  • Dodgers1Dodgers1 Registered User Posts: 12 New Member
    I like the in-state and midwestern LAC suggestions. One other school to consider might be McGill, in Canada.
  • sybbie719sybbie719 Super Moderator Posts: 20,706 Super Moderator
    edited October 11
    keep in mind that the overwhelming number of schools that meet 100% demonstrated need will use either the CSS profile or their own forms to determine how to disburse their institutional aid.

    while OP may meet the threshold for simplified needs test for the FAFSA where they will not look at the family's assets for federal aid, schools will not ignore the $500k in assets when it comes to disbursing their own funds.
    Post edited by sybbie719 on
  • pamelamkpamelamk Registered User Posts: 16 New Member
    @gearmom She went to Suffolk U in Boston and Nova SE for MBA
  • gearmomgearmom Registered User Posts: 1,887 Senior Member
    @pamelamk Well that explains the current predicament. A pre-inheritance entrance into college?
  • DadTwoGirlsDadTwoGirls Registered User Posts: 2,301 Senior Member
    "One other school to consider might be McGill, in Canada."

    McGill is an academically very strong and very demanding schools with an excellent international reputation. It is also very reasonably priced as long as the student is either a Canadian citizen, Canadian permanent resident, or a citizen of France. However, for international students it is somewhat more expensive than many other Canadian schools and it would probably be above OP's price range.
  • gearmomgearmom Registered User Posts: 1,887 Senior Member
    The irony is that UF is a much higher ranked national university in comparison to Suffolk. #42 vs #181
  • Dodgers1Dodgers1 Registered User Posts: 12 New Member
    @DadTwoGirls You're probably right and it's probably not in her price range. U of F is a very good school, excellent price for her, but seems like she wants to go farther away. McGill seems to meet some of the items that many colleges on her daughter's original list seemed to have in common (BC, BU, Northeastern, Tulane, Columbia, U of M)-- well-known schools with interesting academics, many with an attractive campus, in unique, engaging cities, (mostly) out of Florida. It is bigger then most of the schools on her list, of course, and it's probably too far away and not what she is looking for. Anyway, I suggested because I thought the OP mentioned that she was going to have about US $25K per year to work with. She also said her daughter was interested in marketing or communications major, which would be a BA. I think that puts tuition fees at about $20K Canada and room + board at about $15K Canada-- all of which adds up to $34K Canada, which is about $28K US. I believe you can use FAFSA for McGil, which would allow OP's daughter to add a student loans to her budget. I probably made an error in there somewhere, for sure.Some other Canadian schools are a better value, true.
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