<p>I will be filling out the CSS (Canadian Profile) for financial aid some time in the next few months. My parents’ income after taxes is about a hundred thousand a year, and my sister is also in college, but doesn’t that mean that I will probably not get any need-based aid? And so what’s the point of even applying to the Ivy leagues (spending about $75 for the application) when you know that you’re not going to be awarded any aid? (since 40 k a year is unaffordable)</p>
<p>It is not only income, but the assets that will determine aid. I think they want income before taxes. Even if you do get aid, it may not be a very large percentage of the total cost.</p>
<p>Only you can decide if you want to go to an ivy without any aid.</p>
<p>It’s certainly worth a try. You may get more aid than you think, especially due to the high cost of ivies and because your sister is also in college. Best of luck!</p>
<p>With two in college, there is a chance you and your sister may get some aid, even if it may be in subsidized loans. You and your parents should run the numbers through some of the aid calculators, and see what the financial picture for you is. You then need to have a sit down talk with your parents to come up with a gameplan for your college apps. Is one of the most selective US schools something you really want for yourself. Do you want to give the app process for some of those schools a shot? </p>
<p>Regardless of the conclusion, you should have financial safety schools for yourself so that you have choices that are affordable. But don’t give up any dreams out of hand.</p>
<p>Well, I sort of disagree with some of this ^^^. </p>
<p>For many kids, yeah, there is no point in applying to schools they KNOW they can’t afford. Better to concentrate on making a balanced, strong list of schools where you have a good chance at getting merit money AND meets your educational goals.</p>
<p>If you’ve done the financial aid calculator, and you know there’s no possible way you can swing $45,000+/year, and you are reluctant to take out loans (understandable) then I’d encourage you to build a better list of schools.</p>