Donut hole reality

[Anonymous]

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

At 300k you can afford it. It’s those of us making half that

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That’s not donut hole. That’s a comfortable family. The rest of our kids go to state schools.

This. If you have sticker shock, but the ability to pay you aren't really a donut hole.

Ability to pay when that ability means constant struggle, isn’t really comfortable.

Families with more than one kid and $250-300k don’t get financial aid. Paying $180-200k/year for kids’ tuition isn’t easy.

You save starting at birth, consider your spending and live way below your means.

Or you decide you don't want to pay this much because you can pay so much less at a state school and get a perfectly great education there. Imo it would be incredibly foolish at that income bracket to throw this much money out the window for a $$$$$ education when you can have it for less. I consider it spending beyond one's means, and I have enough savings that we could theoretically do it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That’s not donut hole. That’s a comfortable family. The rest of our kids go to state schools.

This. If you have sticker shock, but the ability to pay you aren't really a donut hole.

Ability to pay when that ability means constant struggle, isn’t really comfortable.

Families with more than one kid and $250-300k don’t get financial aid. Paying $180-200k/year for kids’ tuition isn’t easy.

You save starting at birth, consider your spending and live way below your means.

We did. We can send both kids to in-state public university for 4 years with what is in their 529s right now...around $130-140k each.

But not $360k each. Which is fine. We own two homes--just not selling one or pulling equity out. Building wealth requires choices. Solid in-state and then $ for a good grad or house downpayment.

Owning two homes and complaining is tone death.

[Anonymous]

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

That is not UMC. That is wealthy families not wanting to make sacrifices and save.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

Is this really true? Colleges are such an insane cost because the people who pay full price are also covering the costs of poor kids?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

That is not UMC. That is wealthy families not wanting to make sacrifices and save.

Disagree. I shouldn’t have to subsidize other peoples kids. Let the government do it or the schools endowment.

[Anonymous]

There is a thread like this every year. The top privates have no problem finding full pay kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That’s not donut hole. That’s a comfortable family. The rest of our kids go to state schools.

But not really. The whole reason people talk about a donut hole is that extraordinary kids from lower middle class families (up to $85k, which is 55th percentile HHI) go to elite private universities for free, and extraordinary kids from true middle class families (up to $150k, which is 80th percentile HHI) go for $15k or less. Those kids are not going to state schools. They’re going to elite private schools, because for them it’s cheaper than going to state schools.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

Is this really true? Colleges are such an insane cost because the people who pay full price are also covering the costs of poor kids?

Yes! How exactly do you think it works? Look at the financials of these universities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yeah, it's ridiculous. Send your kid to a decent public school - there are plenty of them.

Decent public schools are 30k per year. Mind boggling

Is the good grades not great grades student now going to get squeezed out of the decent public school market?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

Is this really true? Colleges are such an insane cost because the people who pay full price are also covering the costs of poor kids?

The college is a business. It wants a diverse population. Yes some underprivileged kids are subsidized directly by the university in the form of endowed scholarships and things of that nature. And that’s great. Do you want more of that. It tells you the school is using its own money to get these kids.

But sadly that’s not the case for most schools. The true cost of attending is a blended rate. It is not simply the cost of educating your child. It’s the cost of attendance for a diverse population.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

Is this really true? Colleges are such an insane cost because the people who pay full price are also covering the costs of poor kids?

Yes! How exactly do you think it works? Look at the financials of these universities.

Then why aren't schools like High Point or SCAD that offer virtually no grant aid cheaper?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of why it's gotten so insanely expensive to go to many colleges is because families that are UMC are expected to shoulder not just the cost of their own kid attending but all the kids that are attending for free or at low rates. I want those kids to go to college too but that should be funded from either government money or endowments not jacking up tuition on other families struggling to pay for school too.

💯

That’s the big secret of the schools that no one talks about. Who is really funding all of the need blind awards. It’s not the endowments. And it’s def not the government.

It’s the fact that tuition goes up every year and insane amount and families with over $300,000 in income are expected to be full pay. That is robbery from one group to satisfy the other.

Is this really true? Colleges are such an insane cost because the people who pay full price are also covering the costs of poor kids?

Yes! How exactly do you think it works? Look at the financials of these universities.

Then why aren't schools like High Point or SCAD that offer virtually no grant aid cheaper?

I don’t know. Look at their financials. And figure it out.

[Anonymous]

Anonymous wrote:I'm worried about affording those very good public schools, let alone the private ones!!!

this