Appologies to the OP… I know we are way off course from your request.
@Mwfan1921 - No problem, I was worried about that too as real estate prices in our area went up significantly and so was worried about what years 2,3, and 4 would look like. Please note, this observation is concerning families with incomes topping out at about $250 to $300,000 with “normal” assets (no second homes, small businesses, family farms, etc…) From school websites, several financial aid sessions we zoomed in last year with colleges, financial aid packages for my own kids and where I work, and other strands on CC it looks like colleges that meet 100% of demonstrated need and use the CSS are shifting to income based for a percent. I will try to find an article that was in one of the Higher Ed news feeds I get at work, but here are a few things for you.
It seems like more colleges T20/T5O Colleges that meet 100% of need have added statements in recent years like Harvard and Yale have here - there seems to be some pressure to take away the mystery for the middle and upper middle class with financial packages varying widely.
Harvard - sounds like they go up in percentage of income from this level:
- Families with incomes between $65,000 and $150,000 will contribute from 0-10% of their income, and those with incomes above $150,000 will be asked to pay proportionately more than 10%, based on their individual circumstances.
- Families at all income levels who have significant assets are asked to pay more than those without assets.
Yale:
- Families earning between $75,000 and $200,000 (with typical assets) contribute a percentage of their yearly income towards their child’s Yale education, on a sliding scale that begins at 1% and moves toward 20%.
- There is no income cutoff for financial aid awards. Some families with over $200,000 in annual income receive need-based aid from Yale.
https://admissions.yale.edu/affordability-details
And from this site, not sure when it was updated:
Schools that Ignore Home Equity
- Bard College
- California Institute of Technology
- Cooper Union
- DePauw University
- George Washington University
- Hamilton College
- Harvard University
- Massachusetts Institute of Technology
- Princeton University
- University of Chicago
- University of Virginia
- Ursinus College
- Whitman College
Schools That Hit Home Equity Hard
- American University
- Babson College
- Bentley College
- Boston College
- Emory University
- Holy Cross College
- Lehigh University
- Loyola University Maryland
- Northeastern University
- Sarah Lawrence College
- Tulane University
Schools That Limit Home Equity
- Amherst College (1.2x)
- Barnard College (1.2x)
- Bucknell Univesity (2x)
- Cornell University (1.2x)
- Dartmouth College (1.2x)
- Emerson College (3x)
- Haverford College (1.2x)
- Kenyon College (4x)
- Lewis and Clark College (2x)
- Rice University (2x)
- Tufts University (2x)
- University of Rochester (3x)
- Vanderbilt University (2.4x)
- Wake Forest University (2x)
- Washington University, St. Louis (2.2x)