<p>
At the highly selective colleges we have been discussing, the vast majority of families in the US would qualify for financial aid. According to Harvard’s net price calculator, they give need based aid at incomes as high as $230,000 (without large assets). More specific numbers for some situations are below. In all cases, I am assuming a 3 person family with no other children and a half a year’s salary worth of savings/assets. </p>
<p>Annual Income – Cost to Parents
$65,000 – $0
$100,000 – $8,000
$150,000 – $15,000
$200,000 – $43,000
$250,000 – full price</p>
<p>Harvard’s website says the majority of existing students receive need based financial aid, and those receiving aid pay an average of $12,000 per year. They say 20% of parents have a low enough income to pay nothing.</p>