It probably would include a free grant and a student loan. The more savings a family has, the less aid it normally will get. The size of the aid package also depends on whose name is on the savings account. Every year, the child is expected to use as much as 35 percent of it. In each subsequent year, the school would expect 35 percent of the remainder.
Some families try to hide their money from the aid officer's laser eye.
They do it by tucking their money into assets that some colleges don't count. For example, the form for federal aid doesn't ask how much you have in retirement accounts or in tax-deferred annuities. It also ignores the equity value of your house or farm. I think it's unethical to take that approach. Parents who have money, but hide it, should not get as much financial aid as parents who earn less.