ivy/self-employed ?s

momofthreeboys
Fri, 12 Apr 2013 18:33:20 +0000

Why don’t you call or e-mail the questions? I’m convinced many colleges add some percentage of depreciation back in (we generally show a small amount of rental income as gain but not a huge percentage of total rental income) but YMMV and some will add back some percentage of insurance paid through a business, but each college can do things how they like. Different colleges treat home equity differently in terms of the multiplier. I think there are threads on this topic that cover the schools you are asking about. How your business income is viewed might depend on how you have treat the business (LLC, S Corp, 1099 income on Schedule C). There are many ways to value a sole proprietor consulting biz. We own our home and rental properties and H is “self employed” and through 3 kids we have seen many variations in the private colleges determination our “need” or “lack of need” depending on your perspective, BUT we have not had to deal with the Ivy League so don’t rely on my anecdotal experience. Ask, question, and ask again if you are dealing with a sports recruit.

There are also threads about how people with rentals and self employed or small business are seeing results compared to the NPCs. You might want to read the threads. I would vote for the NCPs to be conservative for someone in your situation, but again your best best is to ask the questions.