It is almost one year since UPenn and MIT announced that both institutions expand the financial aid for middle class families.
The key part is “Penn will no longer consider the value of the primary family home among assets in determining the amount of financial aid eligibility and will raise the income threshold for families eligible to receive full tuition scholarships from $140,000 to $200,000 with typical assets”
However, if we run NPC for both, we can see UPenn still asks the primary family assets, and it affects the FA packages. And MIT does not ask this.
Did you run Penn’s NPC with and without the primary home asset and the result was a different level of financial aid? It’s acceptable to call Penn financial aid dept and ask these questions.
Not necessarily, maybe the NPC is outdated to take one example.
Regardless, I am sure the FA dept can answer your question as to why Penn’s NPC doesn’t seem to square with the announcement of not looking at primary home equity for FA purposes.
My D26 asked this question to their financial aid office recently because we were also confused. They noted that the home equity consideration was ONLY for those with incomes below $200k. So home equity is considered at higher incomes. We haven’t gone back to run the NPC yet as we’ve been waiting until they all get updated for the new academic year.
I was definitely reading what they said wrong! I did not realize not considering primary home equity was limited to families below the income threshold.
