where do highly academic $ donut hole students go?

[Anonymous]

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Low assets on that income makes no sense. You have a spending issue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Low assets on that income makes no sense. You have a spending issue.

Wow thanks so much for your insight! I stayed home for 14 years and just went back to teaching 3 years ago. We spend zippy except for tuition and mortgage.

[Anonymous]

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Then you aren’t doughnut hole. It’s similar salary but with assets, including primary residence you can’t really sell, that make you ineligible for grants but unable to afford $85K a year.

[Anonymous]

My 4.6w/4.0uw (rigorous private school), 35 ACT, 5s on every AP, great ECs--likely in-state UVA or W&M. He is not going into STEM. He fits WM profile more-- smaller school too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Then you aren’t doughnut hole. It’s similar salary but with assets, including primary residence you can’t really sell, that make you ineligible for grants but unable to afford $85K a year.

+1

in DC area--$300k-450k is a donut hole family. 2 or more kids. SFHs run you $750k-2 million. COL is very high here.

A lot of pricey private schools offer merit or aid for $200k-once you get to $300k forget it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Then you aren’t doughnut hole. It’s similar salary but with assets, including primary residence you can’t really sell, that make you ineligible for grants but unable to afford $85K a year.

+1

in DC area--$300k-450k is a donut hole family. 2 or more kids. SFHs run you $750k-2 million. COL is very high here.

A lot of pricey private schools offer merit or aid for $200k-once you get to $300k forget it.

And agree the assets get you. Home equity, some include investment/retirement, etc. Which is why 2 families making the same $210k--one will get aid and one won't. The big spenders will get the aid and the smart and frugal that saved will get jack-sh*t.

[Anonymous]

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

you're not donut hole.

[Anonymous]

Anonymous wrote:We have saved since birth and will pay for a state college and graduate school. How hard is that to get you need to save early on.

We did too. We are still donut hole. We have enough for each kid to pay in-state for full amount out of 529 (35-40k/year).

But- for $85k-95K/year --the extra $160k for each kid would be loans since we'd get zero $.

We were socking $ into 529 since they were born.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have saved since birth and will pay for a state college and graduate school. How hard is that to get you need to save early on.

We did too. We are still donut hole. We have enough for each kid to pay in-state for full amount out of 529 (35-40k/year).

But- for $85k-95K/year --the extra $160k for each kid would be loans since we'd get zero $.

We were socking $ into 529 since they were born.

Oh and that 529 $ and our home equity and investments--are part of the reason we are screwed for any aid.

[Anonymous]

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Nice! There’s a current thread where some posters claim that you can’t get aid at $200k HHI.

[Anonymous]

Anonymous wrote:The worst are expensive OOS publics. They generally reserve grant aid for in-state students and cost close to a private.

We are not finding this to be true as all but the very top give merit aid to top students.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Nice! There’s a current thread where some posters claim that you can’t get aid at $200k HHI.

We live in New Haven, CT and not DC so it should be even more likely to get aid in DC with our income. The bottom line is run the NPC for each school before you add it to the list.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Low assets on that income makes no sense. You have a spending issue.

Wow thanks so much for your insight! I stayed home for 14 years and just went back to teaching 3 years ago. We spend zippy except for tuition and mortgage.

Where exactly is all your money going? We make far less than you and still managed to buy a small house (probably where you wouldn't live) and save for college and retirement (and on one income so child care isn't an excuse).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Low assets on that income makes no sense. You have a spending issue.

Wow thanks so much for your insight! I stayed home for 14 years and just went back to teaching 3 years ago. We spend zippy except for tuition and mortgage.

Where exactly is all your money going? We make far less than you and still managed to buy a small house (probably where you wouldn't live) and save for college and retirement (and on one income so child care isn't an excuse).

And, now since you are used to living on one salary you take all of yours and save it for college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever).

Then you aren’t doughnut hole. It’s similar salary but with assets, including primary residence you can’t really sell, that make you ineligible for grants but unable to afford $85K a year.

+1

in DC area--$300k-450k is a donut hole family. 2 or more kids. SFHs run you $750k-2 million. COL is very high here.

A lot of pricey private schools offer merit or aid for $200k-once you get to $300k forget it.

And agree the assets get you. Home equity, some include investment/retirement, etc. Which is why 2 families making the same $210k--one will get aid and one won't. The big spenders will get the aid and the smart and frugal that saved will get jack-sh*t.

Income is weighted more heavily than assets in determining aid. And colleges only expect you to contribute a certain % of your assets (way less than half). So despite a difference in aid level, it's much better to have those assets than not to have them.