How are "assets" weighted in financial aid?

applenana
Sat, 23 May 2015 21:14:44 +0000

Hey all–

I saw that Cornell has a financial aid initiative that tries to limit the debt students will have post-graduation, but this rate is most relevant to students with under $100k in assets. My family’s income is 71k, and our assets include our home and two apartment buildings, which totals to $550k in assets (we still owe the bank $150k; $700k after we pay it off). These apartments had a negative net income of $12k last year, so we can’t depend on that for income. I was just wondering if anyone knows how assets are considered when Cornell analyzes my family’s profile. Any feedback will be greatly appreciated. While understanding that Cornell’s premium price tag is reflective of the experience that is offered, my family cannot realistically fork up more than $20k per year.