250k household income - did you receive any aid in financial aid packages?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Zero. from FAFSA. I think the previous posters are lying. From FAFSA at 250K HHI I think the D of Ed will say you should fund at 100 percent, which is what happened to us

CSS will give you a lot more, especially if you have multiple kids

Not our experience. Nothing from FAFSA or CSS, even with multiple kids.

Anyone running an NPC can see that you are lying

I ran the NPC at a CSS school for a salary of 450k with two kids in private colleges. It came up with about 10K/year in grants but this was assuming a small amount of assets.

This thread is about people at just over half that HHI - $250k.

[Anonymous]

Anonymous wrote:No not even with two in college at the same time...but we did save for college which may have not been a god idea.

On the contrary, it was a good idea. FA is mostly about HHI.

https://www.savingforcollege.com/intro-to-529s/does-a-529-plan-affect-financial-aid

Assets, including those in a parent-owned 529 plan, play much less of a role than a parent's income in determining a student's eligibility for aid.

[Anonymous]

Other than merit and/or talent money, we are only being offered the federal unsubsidized loan. I think our hhi is just under $200k

[Anonymous]

we are at just under 350, and FAFSA is only showing eligibility for a 6K federal loan per year.

We have friends who are roughly at 250K and my friend told me their FAFSA was the same (which seems not right but what do I know).

That said - I really took to heart the Buyers vs sellers school idea. AND, my kid is an average B student. No hooks; decent activities, though no leadership; no test scores; clearly in the ADHD program at school. She was accepted into 2 50-100 schools - one offered merit ($6K) and the other didn't, and then 4 over 100 ranked schools. The two state schools offered 8K per year. The private SLAC (both ranked below 150, but schools you've heard of) offered 25K and 32K per year.

I say this because this board made me think my b-average kid, with a bunch of Cs, mgiht not get in anyplace and certainly wouldn't get merit.

[Anonymous]

The new provision in the FAFSA about not counting multiple kids makes it really challenging for families with HHI of 200,000 to 250,000. I feel like the rules of the game changed. When we ran numbers of saving for college we always counted that it was a total cost of college by number of kids in college. We have kids one year apart and the oldest is young for his grade. We have always planned for a gap year. Both our kids will be in college at the same time.

So even for public our expected contribution is around $45000. So maybe doable with one child but not with two kids. We didn't used to make so much money and because housing is so expensive we weren't able to save any money for college. If we are expected to pay $90,000 a year it makes more sense for my spouse who makes 95,000 to not work for the years the kids are in college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Zero. from FAFSA. I think the previous posters are lying. From FAFSA at 250K HHI I think the D of Ed will say you should fund at 100 percent, which is what happened to us

CSS will give you a lot more, especially if you have multiple kids

Not our experience. Nothing from FAFSA or CSS, even with multiple kids.

Anyone running an NPC can see that you are lying

dp.. our AGI in 2022 was $160K. We ran the NPC for a $80K school. We got zilch.

We had $140K in the 529 for DC plus some cash savings that was going to go into our 401K and for our retirement reserve (it was like $200K). We are in our mid/late 50s.

I guess the expectation is that we should wipe out our savings for this one kid (we have more than one) to pay for college. Screw the other kids, I guess.

[Anonymous]

We got nothing.

[Anonymous]

We have 160k gross income. 200k savings. About $500k each in retirement. Low mortgage. We got $0.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why? That’s not a small income.

-Only just got to this income recently
-Prior student loans just finally paid off
-Prior car loans (not fancy cars but still)
-All of above meant behind in retirement and trying to catch up
-High cost of living area (did ok for awhile by living cheaply in a high crime area but had to go more expensive when we couldn't take the gunshot sounds anymore)
-Essentially in the "donut hole"

Unfortunately they really don't take that into account. We are similar - just out of residency and they take into account your income from one year (which is prior prior year), not that fact that you made diddly squat leading up to that point.

You're just out of med school residency and have an 18 year old?

[Anonymous]

Anonymous wrote:we are at just under 350, and FAFSA is only showing eligibility for a 6K federal loan per year.

We have friends who are roughly at 250K and my friend told me their FAFSA was the same (which seems not right but what do I know).

That said - I really took to heart the Buyers vs sellers school idea. AND, my kid is an average B student. No hooks; decent activities, though no leadership; no test scores; clearly in the ADHD program at school. She was accepted into 2 50-100 schools - one offered merit ($6K) and the other didn't, and then 4 over 100 ranked schools. The two state schools offered 8K per year. The private SLAC (both ranked below 150, but schools you've heard of) offered 25K and 32K per year.

I say this because this board made me think my b-average kid, with a bunch of Cs, mgiht not get in anyplace and certainly wouldn't get merit.

There are thousands of colleges. Of course he would get in somewhere. Regarding "merit" aid it's a MSRP coupon.

[Anonymous]

Merit at OOS publics. No need-based

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why? That’s not a small income.

-Only just got to this income recently
-Prior student loans just finally paid off
-Prior car loans (not fancy cars but still)
-All of above meant behind in retirement and trying to catch up
-High cost of living area (did ok for awhile by living cheaply in a high crime area but had to go more expensive when we couldn't take the gunshot sounds anymore)
-Essentially in the "donut hole"

Donut hole is a fake term for people who didn't save. You could have saved but choose expensive cars and housing.

[Anonymous]

Anonymous wrote:The new provision in the FAFSA about not counting multiple kids makes it really challenging for families with HHI of 200,000 to 250,000. I feel like the rules of the game changed. When we ran numbers of saving for college we always counted that it was a total cost of college by number of kids in college. We have kids one year apart and the oldest is young for his grade. We have always planned for a gap year. Both our kids will be in college at the same time.

So even for public our expected contribution is around $45000. So maybe doable with one child but not with two kids. We didn't used to make so much money and because housing is so expensive we weren't able to save any money for college. If we are expected to pay $90,000 a year it makes more sense for my spouse who makes 95,000 to not work for the years the kids are in college.

That's not fair to force a child to do a gap year. You save, reduce your expenses and have your kids go to a state school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why? That’s not a small income.

-Only just got to this income recently
-Prior student loans just finally paid off
-Prior car loans (not fancy cars but still)
-All of above meant behind in retirement and trying to catch up
-High cost of living area (did ok for awhile by living cheaply in a high crime area but had to go more expensive when we couldn't take the gunshot sounds anymore)
-Essentially in the "donut hole"

Donut hole is a fake term for people who didn't save. You could have saved but choose expensive cars and housing.

She’s baaaackk

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why? That’s not a small income.

-Only just got to this income recently
-Prior student loans just finally paid off
-Prior car loans (not fancy cars but still)
-All of above meant behind in retirement and trying to catch up
-High cost of living area (did ok for awhile by living cheaply in a high crime area but had to go more expensive when we couldn't take the gunshot sounds anymore)
-Essentially in the "donut hole"

Donut hole is a fake term for people who didn't save. You could have saved but choose expensive cars and housing.

oh, stfu. We saved. $140K to $160K per kid. But that's not enough for the majority of oos, let alone private. Yes, they can do in state, but that's not the point of this thread.