Donut hole reality

[Anonymous]

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I just filled out the NPC for Boston College with 180 AGI + 30k untaxed. Total cost of attendance $63K. Not nothing but not $100k.

https://www.bc.edu/content/bc-web/admission/affordability.html

$84,950 is the list price. Why do we need the drama of rounding up to $100K? $85K is bad enough.

List price. It cost over $100k for one year last year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

But if people are supposed to be saving from birth, then people with already-born kids are in trouble with this change, and may not have time to catch up.

My kids are 5 years apart (we literally couldn't afford 2 in day care at the same time, much less college), so I have no dog in this fight, but it's very obvious to anyone how huge a change this is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:30-40 years ago people did cash flow college educations. No one “saved from birth” to send multiple children to college. Why did that change? When did financial aide mean here you go - take out loans? And once the student maxes out their allotted loan amount - here are special loans for the parents? Why do colleges enable this?

My parents saved and grandparents were very generous. We saved since birth.

How old are you? when I was college age it cost about $10k to attend pretty much everywhere.

DP here. Did you attend an public college in Iowa in the 70's?

Not who you're responding to, but my college in the 90s was way under $10K per year. It wasn't in Iowa, either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:PP here. Actually it's $28,041 in 2024 dollars.

You can thank the federal government for the tuition bill that is now 85K at the same school
-fellow NESCAC grad from 90s.

I know. It's infuriating.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

But if people are supposed to be saving from birth, then people with already-born kids are in trouble with this change, and may not have time to catch up.

My kids are 5 years apart (we literally couldn't afford 2 in day care at the same time, much less college), so I have no dog in this fight, but it's very obvious to anyone how huge a change this is.

You choose two kids. Why should you get more money for having two when others choose one and saved.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just filled out the NPC for Boston College with 180 AGI + 30k untaxed. Total cost of attendance $63K. Not nothing but not $100k.

https://www.bc.edu/content/bc-web/admission/affordability.html

$84,950 is the list price. Why do we need the drama of rounding up to $100K? $85K is bad enough.

List price. It cost over $100k for one year last year.

No, the most it cost was $84,950.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

Why shouldn't I? An educated population is a great national resource. Do you have just one kid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

Disagree and I have one child (teen). We need more future taxpayers.

[Anonymous]

Anonymous wrote:We hired a financial planner when DC was born 13 years ago. We were told that when DC is 18 that a 4-year private college would be about $500k. Could not believe it then, but looks like that is accurate. Crazy.

Yep. We are financial planners and opened up 529 accounts before our kids left the hospital. $500 a month until daycare / preschool costs were done and then $1200 w month per kid thereafter. We drive 10 year old cars. Also max out retirement contributions. We spend on vacations but not material goods ( I do not have any expensive purses or shoes and shop at Marshall’s and Kohls).

We have $400k for each kiddo saved.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

Disagree and I have one child (teen). We need more future taxpayers.

They will be taxpayers regardless.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

Why shouldn't I? An educated population is a great national resource. Do you have just one kid?

You can go to community and a state college. Lots of options.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

Ah the elitist who believes only the very wealthy should have children.
Glad my parents who had 7 didn’t listen to you. My dad was a lot better father than Bill Gates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The way siblings are calculated for financial aid completely changed. We have kids one grade level apart. We always thought our oldest might be interested in a gap year so we really thought we would have two kids in college during the same 4 year period.

That is what we planned for and unfortunately for us the way financial aid is calculated has completely changed and we are now expected to pay double what we thought, which we are unable to do. So sometimes you plan but the parameters fundamentally change. So if you have multiple kids in college and are expecting some aid, start calculating again.

This. I think it's disgusting that FAFSA changed this.

No, it’s fair. You should not get rewarded for multiple kids.

Ah the elitist who believes only the very wealthy should have children.
Glad my parents who had 7 didn’t listen to you. My dad was a lot better father than Bill Gates.

No, those who have modest incomes who. House fewer kids who are financially responsible.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just filled out the NPC for Boston College with 180 AGI + 30k untaxed. Total cost of attendance $63K. Not nothing but not $100k.

https://www.bc.edu/content/bc-web/admission/affordability.html

$84,950 is the list price. Why do we need the drama of rounding up to $100K? $85K is bad enough.

List price. It cost over $100k for one year last year.

You didn't cut the check, you're rounding up or you were given an exaggerated number.