Need based aid question

[kingkong6712]

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If my family makes 30k a year while renting BUT we have a real estate property worth 300k that makes 16k in rental income a year. Am I considered wealthy enough to get below the average aid at BU SOM? If my parents do not have a property, I am surely getting. 55k a year in need based grants but because of the property, I feel absolutely cooked. My parents have no retirement, no other significant assets other than this house. Will BU straight up give me below average aid and ask my parents to sell the retirement house to fund my med school education? I'm crashing out rn because their financial aid is closed until January

 

[CliveStaples]

The page you are referencing is indicating that the average scholarship award is $30,895, not that scholarship is provided on average to students whose families make that much annually.

You may or may not end up with a scholarship from BU, but your ability to have government aid for the remainder of your cost of attendance uses a standardized form to determine how much financial aid they expect you to get from your parents. You can run an estimate here:

https://studentaid.gov/aid-estimator/

 

[Mr.Smile12]

So how large is the class? I think 116-117? So the infographic says everyone gets something. The important statistic is the range, and to me, a MEDIAN scholarship number is more important than the AVERAGE. (When it comes to disbursing scholarship money, do you want a statistical bell curve (average would be okay)??? In all likelihood, it is distributed so that more people get smaller amounts.

The more interesting number is the upper limit. How much off tuition or cost of attendance is that amount? That's the upper limit for how much you or any entering student gets to reduce their student debt. Overall scholarship budget every year is $3.5-3.6M.

(Please correct me if my math/reasoning is off.)