Because you have to apply to schools that meet need. Not all do—they simply don’t have to |
Substantial assets? |
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We have $300K combined income. 3 kids. two of them are twins. We got substantial discount for having multiple kids in colleges at the same time. (doesn't need to be the same college) I think it's called sibling discount. Public schools don't offer this. See if you can take advantage of this. |
FAFSA was 'reformed' to remove that discount |
That's why I said ' Public schools don't offer', however most private schools with CSS still do. So my kids were able to say no thank you to UVA VT and go to OOS Privates. One kid probably needs to full pay for the last year though. |
So if you're a family that can afford in state, but can't afford private school tuition, the solution is worthless. If you can stretch enough, then the solution is to send kid 1 to public school as a freshman, have kid 1 transfer to private and tell kid 2 to apply only to private, and then make kid 2 transfer 2 public after kid 1 graduates? |
Well I mean it’s tied to both. |
Well it really worked out nicely for me as I have twins and another one only 1 year apart. I only have full pay for 1 kid for 1 year. If you have two kids back to back. Kid 1: full pay for 1st year, then discount for 3 years. K2 2: discount for 3 years, then full pay for the last year. With the discount, cost is similar, little higher, or even cheaper compared to public. Cost more than all public, but still a good option. |
30K a year is quite a lot for most middle class families. |
That is middle class but having 4 kids is a choice. Most of us stop at 2 so we can afford our kids needs. |
That's good it was reformed as at $300K, you can save. |
We stopped at one. And still will be punished for it. Even in state schools are $30/year. And then forget any grad school on top of it. And no, DC should not have to work and defer grad school (delaying the benefits that come with a full career, including retirement, health benefits, home ownership) just to save for an education. DC would be saving the rest of DC's life to afford it. |
Grad school is optional. Any one worth attending pays a stipend (not a grand one, but a decent amount) or is worth the loans i.e. US MD school. Grad school right out of undergrad is not necessary for CS, nursing, accounting (can get 150 credits during undergrad) and multiple other fields. |
Should a child in a family of 6 be punished? |