Our EFC is 500,000????

[Anonymous]

Anonymous wrote:Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

You make $300K and $2 Million in assets, you have plenty of money to pay for college.

[Anonymous]

We told our daughter instate or out of state with merit(no fafsa). Otherwise loans. I am not paying for my dd to go to a top school, but not very top( think bates or Hamilton, not amherst or Dartmouth) over UVA, WM or WL.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You have assets, therefore, money to pay for school you are just choosing not to spend that asset/money on college. That is a choice.

It’s a wise choice. A college degree doesn’t need to be expensive to be good.

Yes but the underlying thread in all of these OMG MY EFC IS X. Is that they should get some type of aid for schools that they could literally cash flow from their income OR by selling a rental property. But they don't. They want aid. AID

[Anonymous]

Anonymous wrote:We told our daughter instate or out of state with merit(no fafsa). Otherwise loans. I am not paying for my dd to go to a top school, but not very top( think bates or Hamilton, not amherst or Dartmouth) over UVA, WM or WL.

This is what I've told my kids too. Especially in the sciences, there is no value to paying 1.5 - 4x as much on a comparable education. I believe that there still is some value in the cache of an MIT or Stanford, but probably not as much as you would think, especially for undergrad. And considering the total roll of dice gaining entry into these top schools has become, it's not something that I have spend extraordinary money or effort trying to obtain for my kids. They can do all the "right" things and still be denied entry because they didn't happen to be quite the "right" person to fill out their vision of a complete student body. So arbitrary and ridiculous.

[Anonymous]

We have a lot in assets because of an inheritance. We’re telling our daughter that she has 300k for both undergrad and grad. This allows her to go to a school like Hamilton if she wants, but then she will have not money for grad school. This is to encourage her to look at publics and merit aid privates without making restrictions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You have assets, therefore, money to pay for school you are just choosing not to spend that asset/money on college. That is a choice.

It’s a wise choice. A college degree doesn’t need to be expensive to be good.

Yes but the underlying thread in all of these OMG MY EFC IS X. Is that they should get some type of aid for schools that they could literally cash flow from their income OR by selling a rental property. But they don't. They want aid. AID

Not necessarily. I don’t think the FAFSA takes into consideration the number of siblings, whether there are special needs or medical issues in the family, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

You make $300K and $2 Million in assets, you have plenty of money to pay for college.

You are quite presumptuous; I am in the same situation financially and I have worked my tail off my entire life for my assets and income. I support elderly parents and fund my retirement and my children’s inheritance. I have also saved diligently for college but to assume that I can pay full price for college without it hurting is stupid. I will have 3 in college at the same time for a few years (Full price will be easily over 200,000/year). I am sick of people just saying that those with finances need to shut up and just pay pay pay…. I’ve worked so hard to pay my share and your share and your brother’s share and your neighbors share and I am getting really really tired of it.

[Anonymous]

1. If you live in DC, the FAFSA is required to apply for DCTAG, which gives $10K/year towards OOS tuition. We have a high EFC but still qualify for TAG.

2. What a bunch of judgey mcjudgersons. There are lots of reasons a school could be better than an instate public for a particular student and there is absolutely a lot of merit aid out there that should be considered. Have the budget that is right for your family but consider that others could have different criteria and values than you that are also valid.

[Anonymous]

Especially when I have to pay for your test optional snowflake with grade inflation mediocre high school performance when my own high scoring test submitted (after studying diligently) straight A grade earning kid can’t get in because we don’t check the “URM” or “first-gen” or whatever else “needs a chance” box is in style these days.

[Anonymous]

$10K is nothing, big whoop

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

You make $300K and $2 Million in assets, you have plenty of money to pay for college.

You are quite presumptuous; I am in the same situation financially and I have worked my tail off my entire life for my assets and income. I support elderly parents and fund my retirement and my children’s inheritance. I have also saved diligently for college but to assume that I can pay full price for college without it hurting is stupid. I will have 3 in college at the same time for a few years (Full price will be easily over 200,000/year). I am sick of people just saying that those with finances need to shut up and just pay pay pay…. I’ve worked so hard to pay my share and your share and your brother’s share and your neighbors share and I am getting really really tired of it.

Then don’t f’ing whine about your situation

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

You make $300K and $2 Million in assets, you have plenty of money to pay for college.

You are quite presumptuous; I am in the same situation financially and I have worked my tail off my entire life for my assets and income. I support elderly parents and fund my retirement and my children’s inheritance. I have also saved diligently for college but to assume that I can pay full price for college without it hurting is stupid. I will have 3 in college at the same time for a few years (Full price will be easily over 200,000/year). I am sick of people just saying that those with finances need to shut up and just pay pay pay…. I’ve worked so hard to pay my share and your share and your brother’s share and your neighbors share and I am getting really really tired of it.

WTF.

You are happily funding their inheritance but are upset about paying for college.

WT actual F.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

Congrats! You won a lifetime resentment award from your kid!!

Nope. My kids are smart enough to know that a higher price doesn’t equal a better education. There’s no reason for a good student who lives in VA to go OOS, unless they are looking to get far away from home

There are plenty of OOS schools that can match or beat the price of VA public options. Saying "in state only" is dumb. Saying our budget = what an in-state school would cost makes sense. Then it's on the kid to search for schools that can fit the budget. FWIW, My DD applied to several OOS public and private schools. All ended up cheaper for us than William & Mary, the only in-state public she was really interested in. She's going to a private LAC that will cost us about the same as Virginia Tech.

That’s great, but did the OOS school guarantee renewal of the aid package for all 4 years? I’ve heard stories of students learning that they have to pay a lot more after freshman year due to not meeting certain requirements like GPA, number of credits, or program of study.

Yes, just need to take a full load and be making academic progress. You do need to be mindful of high GPA requirements. When evaluating schools, look at the common data set, which shows the average non-need package for freshman and for all undergrads. If there is a big discrepancy then that school is weighting aid to the 1st year and then taking it away for a lot of kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

You make $300K and $2 Million in assets, you have plenty of money to pay for college.

You are quite presumptuous; I am in the same situation financially and I have worked my tail off my entire life for my assets and income. I support elderly parents and fund my retirement and my children’s inheritance. I have also saved diligently for college but to assume that I can pay full price for college without it hurting is stupid. I will have 3 in college at the same time for a few years (Full price will be easily over 200,000/year). I am sick of people just saying that those with finances need to shut up and just pay pay pay…. I’ve worked so hard to pay my share and your share and your brother’s share and your neighbors share and I am getting really really tired of it.

Do you really think you have worked harder than someone earning half of your income? You haven't.

We all have some kind of story. I have a permanently disabled spouse, mentally ill adult child, and still am at full pay at a fraction of your income. We are really getting tired of posters like you being sticker shocked at college costs and EFCs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

You make $300K and $2 Million in assets, you have plenty of money to pay for college.

You are quite presumptuous; I am in the same situation financially and I have worked my tail off my entire life for my assets and income. I support elderly parents and fund my retirement and my children’s inheritance. I have also saved diligently for college but to assume that I can pay full price for college without it hurting is stupid. I will have 3 in college at the same time for a few years (Full price will be easily over 200,000/year). I am sick of people just saying that those with finances need to shut up and just pay pay pay…. I’ve worked so hard to pay my share and your share and your brother’s share and your neighbors share and I am getting really really tired of it.

LOL. Your post is supposed to be satire on entitlement, right? Like other people who have less income and assets than you haven't also worked their tails off and saved diligently using the resources they have? And do you think middle-class (as opposed to UMC) families aren't "hurting" over paying for college costs, possibly even for in-state schools? Plus, if you chose to prioritize putting money away for your kids' "inheritance" versus their education, that's your choice - a choice many families don't have and who aren't whining about the insufficiency of their millions of dollars in assets.