Choate will be upfront if FA need is the reason for denial. I’ve posted here many times that we applied for (partial) FA because we didn’t understand how we could possibly swing it but ended up FP. We were in our mid 50s but, as @vegas1 posted, that is irrelevant. You will not be expected to dip into retirement savings (accounts with penalties for early or non-qualified withdrawals). I believe changes to the 529 plan have been proposed to allow them to be used for secondary education, but I don’t think that is in effect yet. If it does pass, those applying for FA in the future will be affected but, no, your 529 balance will not be considered liquidable. Choate offers a special Icahn scholarship for those needing full aid, and that scholarship includes a travel allowance. “Regular” FA does not. Other schools may handle this differently.