Is there a cut off for when FAFSA stops giving aid? Also here are the schools that I applied to for business can anyone please tell me which one gives the most (and how much) money through non-need-based financial aid for this income.
Thank you so much in advance!
No chance for financial aid. Are your stats good enough for a merit-based award?
With $600,000 in family income…did you really think you would get need based financial aid for college? Really?
Please talk to your parents. See how much they can allocate of,thy $600,000 a year towards your college costs.
You will not be receiving need based aid at any colleges.
ETA: to receive grant aid in the form of the Pell Grant, your FAFSA EFC would need to be low…very low. Yours is well over $100,000 a year. To get a small portion of the Pell, you would need a FAFSA EFC of less than $5000.
But…if you complete the fafsa, you will be able to take an unsubsidized student loan. For,freshman year, that is $5500.
No need-based aid, but you might be able to get some merit aid based on your grades and test scores. Most of the schools on your list are very expensive - have you talked to your parents about what they can afford to pay for you to go to school?
You will not qualify for financial aid if your parents earn $600K a year. For your second question, most schools give need based aid, not merit. Did you apply this year or are you applying for next year? If you applied this year, did you complete any of the scholarship applications? The only way you may get any merit aid is if you are given one of the highly competitive merit scholarships. For example, BC gives 15 scholarships a year. BU gives 20 trustee scholarships and other scholarships for NMF. Check each of their websites to see what they offer. My approach to this would be to expect nothing and make sure your parents are going to pay your tuition and if you get any merit aid, it’s just a pleasant surprise. The below link from BU’s website may be helpful to you to see how income correlates to financial aid awards at BU.
https://www.bu.edu/finaid/apply/newstudents/incoming/freshman-receiving-scholarships/
@paveyourpath …most schools actually do give merit aid. On the OP’s list, NYU, Wake, IU, Northeastern and BU all give merit aid.
BC, Villanova, and Emory give predominantly need based aid. But BC, Emory and Villanova give some merit awards…but highly competitive…
But at the $600,000 a year income level…NO SCHOOL will be giving need based aid.
This student is a HS senior.
Also…these schools all use the Profile…and the deadlines for submission for institutional aid have passed. But it doesn’t matter…income Is too high for need based aid.(except Indiana)
Yep, @thumper1, I noted for OP some of the schools on the list would give merit aid but that they would be highly competitive. My stating that most schools will give need based aid and not give merit aid was a general statement so that OP would realize that merit aid at most schools is going to be non-existent.
Also, give the kid a break. Not the kids fault that they don’t understand how financial aid works and that they don’t qualify. It’s better that they ask than learn a harsh reality, as we’ve seen many times here before, after the app is filed.
@TexasDA just needs to become educated on the topic and have a discussion with the parents, which includes discussion of the COA because there are many parents out there that do not know what college costs these days.
IU - out of state tuition is 48k, I have gotten $16k in merit money. I am non-Kelley. I do not qualify for federal aid. Did you already apply to IU? If so you should have already received scholarship notification. @TexasDA
According to,other posts…this student is a HS senior. He was accepted to IU already.
@TexasDA is the list here the schools to which you applied? If you completed the fafsa already, you would,have gotten a SAR which would,have given you your EFC number. What was that?
At that income there will be only the standard non-sub loans. Zero FA. A family with that income wuld not qualify for any need based aid on the FAFSA. And non need based aid would be along the lines of merit $ . Different animal.
@redpoodles I have a 3.8 GPA. 32 ACT (superscored).
EC: Top-ranked debater in Texas with a bunch or top wins that I put on my resume.
@paveyourpath I applied for this fall. I got automatic consideration for scholarships for all the schools. Also, Im pretty sure they are going to help me out for tuition and i’m probably going to have to find a job in college to help pay for it.
@redpoodles Also im only ranked like top 20% (out of 700) at my high school cause there is too many stupid smart people its hard to compete
@thumper1 what do you mean “except Indiana”?
@thumper1 I already completed the FAFSA and submitted it anyway
How MUCH are your parents going to help you out? That is an important question to get answered. YOU can take a $5500 loan in your name only for freshman year. Anything above that…parents would either need to cosign or take.
Automatic consideration for WHAT scholarships? I think you might get some aid at SMU…but for,the others…to,be honest, your GPA and ACT score are not tippy top…and that is what it would,take for scholarships…where they are awarded.
And at BC, Villanova, NEU. And Emory…I would say…probably not.
Even so…what happens at these $60.000 to $70,000 a YEAR schools…if you get $15,000 in scholarship money?
Hoping you are instate,for Kelley IU.
@STEM2017 I already got Direct Admission into Kelley but they haven’t sent me anything about scholarships yet
Are you an instate Indiana student??
Lots of other Kelley students applied before you…and were accepted…you missed the deadline for that. Your stats are not stellar Kelley which is a well regarded business school.
I meant…Indiana does not require the Profile for consideration for need based aid.
But really…with $600,000 in income…I firmly believe you will NOT be receiving need based aid. Did you expect to get need based aid?
@thumper1 Yes, these are the schools I applied for (Minus UT Austin (McCombs which I didnt get into 
Screw the top 7% auto-admit system! ). Also, my EFC was something like 180000 or 175000.
So you are instate for Texas…not Indiana…and you have an EFC of $175,000 or so.
Your family will not receive need based aid. You might get some merit aid at SMU. But the others? Well…not assured.
Your family should be able,to pay the full cost for youmto,attend any of these colleges. Is there some reason you think that is not the case?
If he met the priority deadlines and had the right profile, he would earn merit at IU & SMU without an additional application. Merit at many of the others is more competitive, but still possible. SMU is quite generous with merit aid, but that ship has sailed.