Hey all! I'm a junior, and my sister is a year ahead of me. I've been hearing that Ivies tend to be pretty generous when there's more than one kid from the family in college. Anyone has any info to support this? Help would be appreciated!
While it's true that many schools, including Ivies, try to meet the full demonstrated need, the way that this calculation has been done changed recently. With the shift from EFC (Expected Family Contribution) to SAI (Student Aid Index) in the FAFSA calculation, there's no longer an adjustment or 'discount' for having multiple kids in college at the same time.
Nonetheless, each university handles financial aid and sibling situations differently. It is essential to use the Net Price Calculator on each school's website for a more accurate estimate of what you may be expected to pay. This tool can consider factors such as your family's income and the number of children in college at the same time.
Now, about Ivies. Some Ivy League schools like Harvard, for example, offer free tuition to families earning less than a certain threshold - less than $85,000 per year and their parents pay nothing towards the cost of attendance. Families who earn between $85,000 and $150,000 per year will pay between 0 and 10% of their annual income. This generosity can indeed be convenient when you have more than one child in college.
However, specifics will depend on individual circumstances. Monetary support for multiple children in college will reduce the burden on a family, but this doesn't necessarily mean that the cost will automatically be halved or similarly divided.
It's always best to reach out to the college's financial aid office with your family's specific circumstances to get the most accurate information.
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