My twins both got into BU honors with no merit or FA so we have to pass. I wish I had good advice but am looking at this same dilemma myself…only more like $40k/kid at the schools they will likely end up attending (both received big merit scholarships other places). We have saved some but will be taking big loans.
Based on some counseling we received, you are in a perfect position…the merit aid is the most important to get because you do not have to reapply for it…as long as your D gets the grades, it should be guaranteed for four years. Regarding FA, you have to reapply for that every year so if you switch jobs and your income changes dramatically as you said, you will likely qualify next year. You can probably do one of the calculators and see how it would change with a $20,000 loan and your new expected salary. e
MANY people on this site will tell you that if you can go somewhere for free you should. Every time. No exception. But depending on your D’s major, future plans, what state you are in, etc, I think sometimes it’s good to go to the higher ranked school. If she’s premed, get the free education, focus on high GPA and MCAT score. I know that for sure! Good luck!