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But really...here is my real,suggestion. When the time comes...have your kid cast a broad net! You need to set you net price cost limit with him...because really that’s what you can contribute. The only REAL financial aid offers are the ones you actually get with acceptances from the colleges. So...apply widely. Hunt down those guaranteed merit awards that will bring the costs to your price point. Sure...add in some schools that are maybes...because...you never know.
Finalists typically come from households earning less than $65,000 annually for a family of four, and often less. This is not a strict cut-off and we encourage students who feel they have faced significant financial hardship to review these financial details carefully to see if they may qualify.
All sources of family income are taken into account, including:
Salaries, wages, and tips
Business and farm income
Interest and dividend income
Child support received
Students with divorced or separated parents must report the income of both biological parents, as non-custodial parent information is taken into consideration by our partners when determining financial need. The only exception is when the student has not had contact with the non-custodial parent for an extended period of time.
All assets held by the family are taken into consideration, including:
Business or farm ownership
Cash and savings
Individual household circumstances are taken into consideration, including:
The number of people supported by the household income
The number of students in college (undergraduate only)
Unemployment or other changes to the household income
Eligibility for free or reduced-price lunch
Having been in foster care
Other non-discretionary financial commitments, such as high medical bills
Please note that Finalists will need to submit official documentation verifying their financial situation to the colleges to which they apply. A thorough financial review will be performed by QuestBridge and by the colleges for all students who become Finalists.