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It would help if they also considered whether that income was from one or two people, and divided it by the number of kids so larger families with parents worki
by nitrogen 10y ago
It would help if they also considered whether that income was from one or two people, and divided it by the number of kids so larger families with parents working multiple jobs aren't penalized.
- sokoloff 10y agoassets and income are two different things.
- nitrogen 10y agoBut correlated. A two-parent, four-income, six-child family in a house just big enough to hold everyone might have $125k in assets, but in no way would they be able to help their kids pay for school, especially the older kids.
- sokoloff 10y agoThey can probably pay for some of the kid's food (because they have been up until now, possibly more efficiently than a college meal plan, but in any case, the household expenses go down when the 18 year old moves out). Some of that money can go to college costs. I assume GGP was posting the "at no cost" threshold and that doesn't mean that $125,001 in assets and you get no help. It's been a long time since I appli d for financial aid, but I do recall that other kids in college (though perhaps not college-bound) was definitely a factor in financial aid calculations.