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Personal Finance

Financial Aid Not Just for Low-Income Families

Think you make too much for your child to get a need-based grant or a scholarship? Even families with six-figure incomes qualify at some schools.

Note: This article is part of Morningstar's October 2013 College-Savings Boot Camp special report. An earlier version of this article appeared March 28.

A key part of the college-planning equation often is whether admission includes an offer of financial aid and the amount awarded. For upper-income families, financial aid may be an afterthought. They may not even bother applying, assuming they make too much to qualify. But financial aid comes in many forms, and even higher-income families get aid in certain circumstances.