<p>It depends. What the FAFSA and CSS Profile say you can pay based on your income (savings, etc.) may be nowhere near what you can actually pay. With expenses such as housing costs, health care, insurance, taking care of elderly parents, trying to save a little for retirement, many parents, even with incomes above $100,000, simply don't have $4,000 a month to send to any college. I know families who have an income level that made their EFC (family contribution) very high, but there's no way they can afford these costs. I know kids who got admitted to Harvard, Stanford and MIT who couldn't afford to go. These are families who live normal lifestyles, live in regular 3 bedroom houses, don't take expensive vacations, drive 10 year old cars and put their kids in public schools. </p>
<p>If your family income is less than $40,000, you probably will get most of what you need to attend a $40,000+ college. I understand that a large part of this country makes considerably less than $100,000, and that amount sounds like a fortune. These families pay more in taxes than many people make. All I'm saying is that you need to understand how much money the colleges think you need, not what you think you need. Use a financial aid calculator (there's one at <a href="http://www.finaid.org/calculators/%5B/url%5D">http://www.finaid.org/calculators/</a>) to get an idea of your actual aid. </p>
<p>I've seen too many heartbroken students and families, and want you to learn all you can about the realities of financial aid.</p>
