Financial aid unlikely?

mom2collegekids
Thu, 17 Jan 2019 04:56:58 +0000

We make just over 150 K, our apartment is worth over $2 million (bought 25 years ago in NYC). Any chance at Financial Aid from a good LAC or should we just assume we’re not getting anything?

We have a lot of retirement…but that shouldn’t count?

Is that $150k your net or your gross? Does it include your annual retirement contributions?

Do you own a business or take any business deductions?

How much do you have in NON-retirement protected savings/investments (protected savings would be IRAs and 401ks/similar)

A NY apartment worth over $2M would have very high property taxes, wouldn’t it?

Also…you seem to be solely concentrating on “need based aid”…why is that?

Are you aware that your kids could get merit based aid at a variety of schools? If so, why aren’t you pursuing any?

Please answer the Q’s so we can really help you.