LOW Income, HIGH Assets FAFSA & CSS HELP

thumper1
Sun, 09 Oct 2016 16:48:12 +0000

BUT the main source of the problem is the price of our house valued at more than 2,500,000.

Is the house completely paid for? No mortgage at all?

What is your consulting parents’ total gross income? As noted above, there are deductions allowed by the IRS that are not allowed for financial aid purposes for the self employed. Some deductions could very likely be added back in as income.

Really, if finances are a significant consideration, do NOT apply early decision. You well get ONE acceptance and ONE financial aid package…and you will be given a very short window of time to accept or decline the offer. The problem is…this could be the best aid offer you will receive with the lowest nest cost…or it could be the worst. You will have no way of knowing.

I hope you understand that Emory is a big school. The intro classes there…gen ed require,wants everyone needs to take…won’t be teeny classes either.

And even at the biggest UC, the upper class classes in your major will be a smaller size.

If your income is REALLY $30,000 or so…AGI…you would qualify for the Calgrant. Your costs to attend any UC would be quite. But less than Emory…which does consider home equity in their equation.