We are a two-income household making right around 7 figures. We did not submit the FAFSA for our D23 but I remember having to submit our W2s for the common app. Our S25 has lower stats than his sister and I’m just wondering if high income could be considered a negative in the context of colleges expecting better GPA/test scores. Or is this not a factor in admissions? If its not, why do we need to submit it in the first place?
I don’t think this is something you need to worry about. Presumably your son will be applying to schools which are appropriate based on his stats…and therefore having enough income to be full pay is ONLY a positive.
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True - but even schools that seem “appropriate” based on his stats (3.9W GPA, 1450 SAT) seem like they could go either way on admissions! If its just in the context of if you can afford to pay, then see what you’re saying. Thanks.
Please clarify this. I’ve never heard of W2 forms being submitted with the common application.
@Mwfan1921 have you heard of this?
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I was wondering as well, we’ve never submitted any financial information across 3 children applying to college in the last 5 years.
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You mean with the common application, right?
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Yup. Nothing on the common app asks for that.
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Maybe the OP is mis-remembering and the form they filled out is the CSS Profile?
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@COMom3 did you submit the CSS Profile (another financial aid application form) and we’re you asked to submit W-2 forms via IDOC?
That is what I thought. The CSS
For which college? This is the first I’m hearing of this, so would be good to know.
If you’re a high income family you don’t need to submit any financial docs. We didn’t.
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We have never submitted a W2.
Full pay is generally an advantage in admissions. I would not spend another minute lamenting this scenario.
Do you report income on the common app? Maybe I’m misremembering? Or maybe it was for a scholarship application. My D23 did everything on her own but I definitely remember her asking for our HHI for a form she was completing. In any event, sounds like it’s a non issue. Thanks!
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NO!
To answer your question, for many schools, being wealthy is a great thing.
Some - publics and top privates - don’t factor finances into decisions.
His performance vs his school and other applicants will matter.
But schools seeing $$ will rarely hurt you - even at the ones seeking a more diverse student body. Many of those schools exceed 50% full pay.
Best of luck to your student.
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You don’t report your income or submit your W-2 as part of the common app (or any app that I know of). You only submit that information if you are applying for financial aid. Being full pay is never a negative - at worst it is a neutral, and at some schools that are need aware, it is a positive. That doesn’t mean your child will get into every school he applies to because they are looking at more than stats, but in cases where he is rejected it won’t be because he is full pay.
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