Interesting "formula" for Financial Aid

hsmomstef
Tue, 06 Nov 2007 12:53:55 +0000

seems difficult to figure out – if I had an AGI of $42,000 (just above the cut-off) then I come up with a figure of .21 or 21%. with no other sibling costs – and a boarding school costing $38,000 – the family would be expected to pay $7980. That seems very high to me for a family making $42,000 – and I know for a fact that with that type of AGI, the Princeton method yields and EFC of closer to $3000 or less (no assets).

It also seems odd that they don’t take into account assets.