How about this one? It says it’s current as of 2023.
Thanks - maybe it’s a guide. So I assume if it says 2x income and OP’s mom makes $65K (and no father income), then they’ll use $130K in the formula?
If a school requires the father (I believe there is one but not in the picture), then that could be problematic too.
So maybe there’s two “qualifiers” to optmizing the list? Just thinking out loud.
That’s how it worked when we used a similar list a few years ago. It’s probably the AGI on the 1040, rather than the straight gross or net income.
I wouldn’t take anything off the interwebs as accurate. You can start with that document, but would still have to contact the school and ask and/or run the NPCs with and without home equity.
I don’t think OP has said how much mom makes, just less than $65K in post #62
Around the 50k ballpark, little less than that
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Oh absolutely! I was intending it as an overview only.
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Realtor.com states that my address (the part of the duplex that I live in) is $436,300. My neighbors address (the other part of the duplex that my neighbors own) is currently worth $401,200.
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It was purchased in 2023. My neighbors part of the duplex was purchased in 1999 which maybe explains the lesser value.
I do have a father, yes, but we have absolutely no form of contact with him and he is waived from paying any child support. My school has records from the nurses office stating that only my mom can contact them and release me home from school early. I do not remember ever meeting him.
The 325k was only for the unit that we live in, our half share of the Duplex.
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Got it. So you will have to report the market value of your unit, the $436K. And think you said your mom didn’t have a mortgage, correct?
Let us know your NPC results once you run those.
Correct, will run NPC results later this afternoon. Thank you for your help once again. What is it looking like so far in your opinion?
It’s looking like you need to figure out who won’t hold equity against you to get a full ride - QB or not.
And to ask QB itself if you’d be filtered out of their program for this?
It’s a significant amount of wealth in a program designed for kids with little or none from what I understand.
But you need to ask them. I’m just making assumptions.
Can you call QB and ask them how they treat home equity in the context of a low income family? My understanding is that the QB app is a lot of work and if they say you are automatically excluded it might not be worth the effort.
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Will do. Fully agree. I don’t wanna waste time haha
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Look, I’ve had a few kids of mine go through this, and I’ll be honest: on paper the GPA isn’t what top schools usually see, and OP knows that. But here’s the thing, QuestBridge, Ivies, and T20s do look at context. If you’ve got a real story, family hardship, low income, upward trend, that does get noticed, especially with a 1550 SAT to back it up. Yes, the transcript shows a rocky start, and it’s clear OP is swinging big partly for the prestige. But the extracurriculars and national awards do matter: founding a nonprofit, published work, serious service, leadership, plus some niche honors — those can offset weaker parts of the record. It’s not a guarantee, and OP shouldn’t act like they’re a lock. But with the right narrative, and solid senior year grades, it’s definitely still worth trying. Just don’t expect the extracurriculars alone to do the work, it’s the story, resilience, and impact that will get you through the door.
What annoys me more are the reeaders insisting OP has “no chance” and isn’t even a shoe in for Rutgers. That’s just as unrealistic. The process is holistic. So yes, shoot your shot at T20/Ivies and have a grounded backup…but don’t let the doomers talk you out of trying.
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Just out of curiousity i put a parental income of 50k and a home equity of 450k into two meets needs schools. One asked for primary home equity and one did not. With no other assets, they both had a zero parent/student contribution.
Would a car be included as an asset?
It was me who said - I’m confident you’ll get into Rutgers, but it’s not a certainty - and it’s not.
Unless it’s a school like Arizona or the Iowa schools, there are not assurances. In fact, @ucbalumnus brought this up before when we were discussing what a safety is - and by his take, Rutgers would be a likely but not a safety. And I understand the logic.
We’ve seen kids, for example, get into UCB but rejected at SDSU. One never truly knows.
Again, I’m quite confident OP will get into Rutgers. Honors, I have no clue.
I think for any QB - it’s a hard reach.
So the GPA is low but test score is high (for QB). But my biggest concern and OP and I talked off line and he informed me about the home and I asked him to ask you all about the home - is that a deal breaker - not for meets need schools but for QB applicant as that level of wealth is not insignificant? And that’s what he needs to ask them, after reading everyone’s responses.
Also, 87% of QB kids get free or reduced lunch. OP never asked about that so that may (or may not) be another thing against.
In the end, 28.5% of applicants were named National College Match Finalists. Then here’s what they say which leads me to believe there is a QB filter which is why it’s important the student finds out now.
Finalists exhibit outstanding academic achievement and qualify financially.
Of these 7288 named finalist, how many matched - I don’t know.
OP has already learned a lot - and we learned a lot about OP to help him dissect issues and steer him in what is hopefully a proper direction. It may be the student can still apply but should do so outside QB.
That’s what the discussion has uncovered - so while you’re entitled to your opinion, I think this thread has been eye opening for OP, myself, and many others. It also goes to show you the importance of asking questions - which I did off line with OP - because everything wasn’t adding up.
Thanks
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If it’s a regular car you use for transportation, not usually (in the last, the Profile did ask for the value of cars, but there was no evidence that this was used in financial aid calculations).
If you have a collection of vintage cars, then yes,…they could be viewed as an asset.