<p>My dad retired about 5 years ago. Since then no imcome has been made. My dad worked on some stocks but not much. Some money is carried for interest in the bank. </p>
<p>Does this help my chances?</p>
<p>Anyone, have any idea?</p>
<p>Jonathan – low income is not a hook and it can be a real detriment to a student, limiting educational opportunities.</p>
<p>If you are a low-income student with excellent stats, that can sometimes be a slight tip to schools looking for economic diversity that have endowments and can afford to award the aid (think Harvard/Yale/Stanford) but it is only a very slight tip, if a tip at all.</p>
<p>My guess is that a student whose parents had retired (a choice) and had made enough money in past to invest so that they are able to draw income from investments would not be looked at the same way as a student who has both parents working hard and still struggling to earn their low-income.</p>
<p>It may help you when it comes time to file for financial aid – depending on the age of the oldest parent, the amount in assets and the type of assets. Stocks and bonds are not considered retirement funds and can be determined to be available to pay for school for the student.</p>
<p>I notice quite a few posts from you regarding everything from EC’s at home to this post. Have you checked out some books from the library about college admissions? There are a ton of books that will give you a better overall idea of the college admission process.</p>
<p>I have a friend whose parents are retired lawyers and opened an antique shop and are not making a whole lot. My friend’s older brother went to college a few years ago, and he was saying that the college was digging into home equity, savings, and other places to avoid giving aid. Good luck, because you would basically have to get into Harvard, Princeton, Yale, Stanford, or Columbia to guarantee that you wouldn’t be paying a dime. The only other guarantee that your parents wouldn’t have to come out of retirement would be to get a full ride to a lower ranked school.</p>