Paying for College

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are the “donut hole “ family income.
UMI families 150k-300k to rich for financial aid and to poor to pay full tuition.

Absolutely, and for the record the donut hole starts lower than 150k, anything over 100k is in the hole.

No, its a term to justify not saving for college. Many of us save on $100-150K and we tell our kids they will go to state schools that we can afford.

Wow. You’re a good little sheepling who knows their place, aren’t you?

That PP makes let’s say $125k, they can afford instate tuition but only if the child lives home. Which is fine. Not ideal, but a good option for lower income families.

That's not lower income. Do you not understand that? We've had that income for many years and just recently increased. We have enough saved for instate tuition via a prepaid plan and enough in a 529 to cover room and board with money left over. You can do it if you choose to save. We live in a small house and rarely take vacations but we do spend a lot on activities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are the “donut hole “ family income.
UMI families 150k-300k to rich for financial aid and to poor to pay full tuition.

Absolutely, and for the record the donut hole starts lower than 150k, anything over 100k is in the hole.

No, its a term to justify not saving for college. Many of us save on $100-150K and we tell our kids they will go to state schools that we can afford.

You still didn’t receive financial aid, and saving or paying outright is felt by your family. Still in the donut hole.

We aren't a donut hole. Donut hole are for complainers who prefer larger/more expensive houses and vacations to saving for college. I have no idea if we will get aid or no as ours are in elementary school and we've been saving since birth. I tell my kids they can apply out but ultimately it will come to money as we don't want them taking loans.

Okay idiot. Stay in the elementary school board, cause you obviously do not know what you are talking about.

I know exactly what I am talking about and that's why we started saving really early on.

[Anonymous]

Anonymous wrote:You cannot be saying that 125K is lower income. I work with lower income kids. Lower income is a family of 6 living on 20k a year and I know hundreds of families in that position. Or the family of 4 living on 25K.

Low income is a family of 2-3-4 under $40-50K. They have no concept of low income. They put themselves in bad financial situations by buying expensive houses claiming its for the schools and then screaming poverty for college as they are house poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are the “donut hole “ family income.
UMI families 150k-300k to rich for financial aid and to poor to pay full tuition.

Absolutely, and for the record the donut hole starts lower than 150k, anything over 100k is in the hole.

No, its a term to justify not saving for college. Many of us save on $100-150K and we tell our kids they will go to state schools that we can afford.

No, probably most UMI families saved enough for instate tuition.
But most can’t afford elite private or OS colleges because they are expected to be full pay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are the “donut hole “ family income.
UMI families 150k-300k to rich for financial aid and to poor to pay full tuition.

Absolutely, and for the record the donut hole starts lower than 150k, anything over 100k is in the hole.

No, its a term to justify not saving for college. Many of us save on $100-150K and we tell our kids they will go to state schools that we can afford.

No, probably most UMI families saved enough for instate tuition.
But most can’t afford elite private or OS colleges because they are expected to be full pay.

No, most cannot afford private or some OS but it depend son the OS college. Most UMI should be able to save 4 years of tuition and room/board if they make an effort early on and watch their housing and other expenses. If you buy a $400K house its much more doable than an $850K house.

[Anonymous]

$125,000 income per year is wealthy.

Low income is $30,000- $40,000 for a family of 2-3-4
and there are many families in this bracket in the US.

[Anonymous]

Anonymous wrote:$125,000 income per year is wealthy.

Low income is $30,000- $40,000 for a family of 2-3-4
and there are many families in this bracket in the US.

125k in annual income will put you in the top10% of income in the US.
But for DMV with high tax and cost of living that is not wealth income.

[Anonymous]

I think Yale would give you more than that. Just apply and see what happens.

[Anonymous]

Anonymous wrote:I think you are the “donut hole “ family income.
UMI families 150k-300k to rich for financial aid and to poor to pay full tuition.

OP Isn't a "doughnut hole" family.

The estimated cost of attendance for one year of Yale is $78,000.

OP did the net price calculator and got back and expected contribution of $45,000. That's significant financial aid, even if it isn't as much as OP needs.

"Doughnut hole" families get told they have to pay the full $78,000 but have a hard time doing so.

[Anonymous]

Anonymous wrote:$125,000 income per year is wealthy.

Low income is $30,000- $40,000 for a family of 2-3-4
and there are many families in this bracket in the US.

And these families will pay nothing to send their children to Yale.

[Anonymous]

OP, how much have you saved for your child’s college education?

[Anonymous]

Anonymous wrote:I think Yale would give you more than that. Just apply and see what happens.

NO!!! Run the NPC before you let your kid apply.

[Anonymous]

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[Anonymous]

Anonymous wrote:

Anonymous wrote:$125,000 income per year is wealthy.

Low income is $30,000- $40,000 for a family of 2-3-4
and there are many families in this bracket in the US.

And these families will pay nothing to send their children to Yale.

And their kids have to live with being low-income for the first 18 years of their life. Happy now?