<p>How do I post a thread?</p>
<p>Thx cpt - my mom will try that today and see how that works out.</p>
<p>The way it works for FAFSA’s EFC is that it is about 5.6%$ or so of assets over a certain amount and qualified pension plans are not included, nor are siblings’ accounts, NCP financials nor are primary home values. Schools that ask for other financial aid application are not limited to those items. Most PROFILE schools do take into account siblings accounts, NCP financials, primary home equity values, and they do eyeball those pension accounts and some schools use them. Though every school I know hits the income harder, getting them to divulge the percentage they hit up assets has not been fruitful. The times I asked directly, I was told, that “it depends”. Which can mean that the % can vary on how much someone has. Schools can do what they want with their money. </p>
<p>I am interested in knowing which schools are spiking upwards in terms of what they expect you to pay when you enter assets. I would like to play around with their NPCs and see what they hit up families assets with the same income level.</p>
<p>Artemis, when i ran the NPC for Rice using a 1040 line income of $100k paying $25K in federal taxes, I get a Rice Grant of $42K for someone with zero assets, and a Rice grant of $39K for someone with $100K in assets. That’s just $3K that Rice is expecting such a family to pay out of $100K in assets whic I think is very, very fair. </p>
<p>The numbers are rather suspect to me since the whole thing comes down to a very low cost that I find hard to believe especially since Perkins loans are involved here, and no DIrect Loans taken into account, but still the fact that income is hit far harder than assets seems to be the rule. I don’t think $100K in assets is an insignificant amount, and what is being asked here is not much at all, doing an apples to apples comparison to isolate the asset impact on the cost. That has been my experience with a number of such calculators.</p>
<p>Pillowfoot, start a thread using the button near the top of the screen in any forum.</p>
<p>JHU Net price calculator, same figs. 100K income - to simplify, only one kid. Net cost to attend: $56000. when savings was zero, EFC came to $17700 and when savings was 100K, EFC came to $22300. However when income was raised to $150K, the EFC shot up to $39100 - the increase is pretty much all the after tax incremental income. for the first scenario, the need was $56000-$17700 = $38300. Out of this, the page said they will offer $32300 in grants, $3500 in loans, and $2500 in work awards. Is it really true that they offer that much reward money for needy students?</p>
<p>Here’s average net price by income data for JHU, from IPED</p>
<p>Average net price by Income 2010-2011
$0 $30,000: $13,611 </p>
<p>$30,001 $48,000: $9,719</p>
<p>$48,001 $75,000: $15,854 </p>
<p>$75,001 $110,000: $27,392 </p>
<p>$110,001 and more: $41,403</p>
<p>I just did Boston coll and for the same parameters they come up with grants of $41K and $38k, one with $100K in assetss., the other with zip. Howver, BC cost is $59K and change. Self help is supposed to take care of all but the about and student expected contribution. BC and Rice both gurarantee to meet need. BC will take into account sibling tuitions to private high schools, however, and they also use pension assets. In this case I zeroed everything out.</p>
<p>My personal experience with these schools has not bee that way. JHU’s numbers seem more realistic to me. This is for a family of 4, 2 kids, with one in college, oldest family member age 50, netting $75K after federal taxes. No complications- zeroes everywhere else except a second go through with $100K in assets.</p>