What are the Major Factors that Determine the Flexible Tuition Range?
• Income. Income refers to pre-tax income from wages, business, or investments. The formula considers certain costs against this income in calculating a familys ability to pay, but they are not exactly the same factors as used by the IRS to calculate taxable income, so all the data must be submitted. If two parents reside in separate households, the income and expenses of both households are considered in the calculation. • Assets. If a family has major assets, savings, and/or investments, the formula will compute an income supplement that will be added to the calculated gross income. Should the student have assets (savings, trust accounts, etc.), the formula would include these assets in calculating the amount that parents can pay. The treatment of home equity is not matched to actual market value in the Bay Area, but calculates a value based on the price paid for the home and the years it has been owned. The income assumed to be generated by assets also takes parent age into account
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- What are the Major Factors that Determine the Flexible Tuition Range?
