My kid is the beneficiary in a $120k trust set up by a grandparent. I ran NPC at a dozen colleges and all came back w/ $37-45k net price; except for MIT and Williams College, which said $9k and $5k. MIT & Williams ignored the trust fund. Is that an error in their NPC?
And are there other colleges like that?
Thanks
I would call and confirm with the FA depts at schools that don’t ask that question on their NPC.
The $120K trust will be reportable on FAFSA and will be assessed at the student’s asset rate (20%) so will increase SAI by $24,000. For colleges like Williams and MIT that use CSS Profile to calculate a family’s need, they might not assess a trust at all, they might assess it at less than 20%, or they might assess it at something between there.
I just looked, both MIT and Williams NPCs ask if the student is beneficiary of any trusts, see last question on each page. Make sure you are running the NPC, not the MyIntuition cost estimator. I guess it’s possible they ask, and don’t use it in their calculation…and I would call to confirm that. Good luck.
Their NPC does ask for trust fund info, so I guess they weight it less somehow. I will call them per your advice. Thanks!
Thanks again @Mwfan1921.
My kid like will not try for those 2 colleges but I was wondering if there was a way to find more like them, where trust fund is weighted less.
I don’t know any database that shows that, so what you did by experimenting with the NPCs is what I would do too (meaning run it with and without the trust and see how/if the NPC result changes).
Since Terms of Service prohibits multiple accounts, I am closing this thread
