Should I apply for financial aid, or will it hurt me?

Financial Aid & Scholarships
#1

<p>My family is well off. This is going to sound stupid, but my dad makes about 250-300k/year. However, it is about 150-200k from his job, and about 100k from his properties. He also makes a significant amount of money from the stock market that is not included in that number. He also has a lot of assets. I think it is stupid to apply for aid, and it will only hurt my chances. However, my parents seem to think they are going to get aid regardless of their income/assets. </p>

<p>Do you think applying for aid will hurt my chances of getting into my schools, or do you think we might get aid and it's worth it?</p>

#2

<p>You certainly won't get need based aid at that income level, but you can and should focus on merit aid. There are many threads on CC discussing various scholarships and which schools offer them. Good luck!</p>

#3

<p>Just check your schools....some require that the financial aid applications be completed for merit aid as well.</p>

#4

<p>*However, my parents seem to think they are going to get aid regardless of their income/assets. *</p>

<p>Show your parents this thread. They earn tooooooooo much and have toooooo many assets to qualify for need based aid unless you have some siblings in college..</p>

<p>Have them use an EFC calculator if they don't believe us.</p>

<p>FA Calc<br>
FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid </p>

<p>If your parents don't want to pay full freight, then they need for you to apply to some schools that will give you merit scholarships. </p>

<p>Find out how much they WILL pay....that will be your starting point because it will influence where you should apply.</p>

<p>What are your stats?</p>

#5

<p>
[quote]
However, my parents seem to think they are going to get aid regardless of their income/assets.

[/quote]
</p>

<p>You might get MERIT aid if your stats are sufficiently high AND the college actually gives merit awards (e.g. the Ivies, Stanford, MIT to name a few...do NOT give merit aid at all..to anyone). BUT with what you are reporting here for income, your family would not be eligible for any need based aid. Use an online calculator to get a GUESTIMATE of what your family contribution will be. Except with some merit awards....your family contribution will be expected to be paid...by your family.</p>

#6

<p>What grade are you in? Does your HS run a meeting for parents on financial aid? You need to get your parents educated quickly. Speak to your guidance conselor asap. He or she can recommend how to get your parents educated. Your parents can choose not to help you, but they first need to be informed what the situation is. The only aid you are guaranteed (unless law changes) in UNsubsidized stafford loan of about 5K per year.</p>

#7

<p>Going back to the other part of the OP's question, most colleges are need blind for admission.</p>