Ok I lied…I am back.
I just did the NPC for Rice with 2 in college. I plugged in a salary of $250,000 …which is less than what was reported …and I plugged in $1.9 million in non-retirement assets. I got a parent contribution (for one student) of $95,758 and a student contribution of $2500.
There is no way that this family is getting need based aid…
nor should they!!! There is no need! The fact that the $350,000 income is in line with savings means nothing.
As I mentioned, merit is possible if the appropriate schools are chosen. Merit to schools such as Duke etc is unlikely (for most)…there needs to be a lot more than high stats. Everybody has high stats. Of course I don’t have a crystal ball…if these students wish to apply for scholarships…go for it!