full pay at HYP in diving market - do I have any case?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those schools are losing hundreds of millions in cuts so I doubt they will give you anything.

And their endowments have taken the same market hit as op. Plus they are eyeballing possible taxes on their endowments.

You can always ask, but I wouldn’t expect anything more than empathy.

These schools need to stop forcing parents to subsidize other people and drops prices across the board

during an accepted students yale info session, they said it costs them 140k a year per student. so everyone is subsidized to one extent or another. and full pay aren't paying for any other student.

Then they should raise the prices to $140k/yr , no finaid. let the market decide.

Agreed. As a donut hole person I am very bitter about the whole thing. Made huge sacrifices my whole life to be fiscally responsible and save and I get nothing. People saved nothing to take fancy trips and drive ridiculous cars and have more kids than they can afford and they are getting money left and right. I don't think there should be allowances for multiple kids - shouldn't have had more kids than you could afford. I am more supportive of helping those who truly have need but that bar has crept up a lot. If you can't afford it, go to State U and let your the next generation prosper.

I would love to see a whole new calculator:

Send us 7 years of tax returns. You have to have those anyway. So it's not really what you saved or didn't, it's what you could have. We'll take x% of income per year in the could have saved. That's box A

Then we'll use most recent tax returns for income. What you can cash flow. That's box B.

Then I dont care if your net worth is in home, car, retirement, vanguard, 529. that's up to you. but just add it up, and colleges take 1%. That's Box C

Colleges will use A, B, C to figure out FA

would prefer this. I hate how colleges count some assets one way and some another. "we don't expect you to sell your house!" is meaningless for half the people who dont own homes or dont own expensive homes. Especially when they def do expect you to sell your stocks.

[Anonymous]

Important to keep in mind that almost half the families at these schools ARE paying full price, which is not so different a percentage than a generation ago. The families receiving aid are receiving much more generous aid (no loans) but even now it’s not generous for all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those schools are losing hundreds of millions in cuts so I doubt they will give you anything.

And their endowments have taken the same market hit as op. Plus they are eyeballing possible taxes on their endowments.

You can always ask, but I wouldn’t expect anything more than empathy.

These schools need to stop forcing parents to subsidize other people and drops prices across the board

during an accepted students yale info session, they said it costs them 140k a year per student. so everyone is subsidized to one extent or another. and full pay aren't paying for any other student.

Then they should raise the prices to $140k/yr , no finaid. let the market decide.

Agreed. As a donut hole person I am very bitter about the whole thing. Made huge sacrifices my whole life to be fiscally responsible and save and I get nothing. People saved nothing to take fancy trips and drive ridiculous cars and have more kids than they can afford and they are getting money left and right. I don't think there should be allowances for multiple kids - shouldn't have had more kids than you could afford. I am more supportive of helping those who truly have need but that bar has crept up a lot. If you can't afford it, go to State U and let your the next generation prosper.

I would love to see a whole new calculator:

Send us 7 years of tax returns. You have to have those anyway. So it's not really what you saved or didn't, it's what you could have. We'll take x% of income per year in the could have saved. That's box A

Then we'll use most recent tax returns for income. What you can cash flow. That's box B.

Then I dont care if your net worth is in home, car, retirement, vanguard, 529. that's up to you. but just add it up, and colleges take 1%. That's Box C

Colleges will use A, B, C to figure out FA

would prefer this. I hate how colleges count some assets one way and some another. "we don't expect you to sell your house!" is meaningless for half the people who dont own homes or dont own expensive homes. Especially when they def do expect you to sell your stocks.

but not if the stocks are in your 401k?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Plus I think you are overstating the generosity of FA. Many families getting FA are quite hard up. The number with big houses and fat retirement accounts but low income who receive FA (which you seem to be thinking about) is going to be a very small group, and not a sympathetic one.

this is a large-ish group actually. or people who have small business who take 40k of income during these years (and 600k other years - my dentist does this)

I think you'll be stuck this year but if you buy a 3mm house, you'll pay nothing 25-26.

People have gamed it. Putting $ Cayman islands +

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those schools are losing hundreds of millions in cuts so I doubt they will give you anything.

And their endowments have taken the same market hit as op. Plus they are eyeballing possible taxes on their endowments.

You can always ask, but I wouldn’t expect anything more than empathy.

These schools need to stop forcing parents to subsidize other people and drops prices across the board

during an accepted students yale info session, they said it costs them 140k a year per student. so everyone is subsidized to one extent or another. and full pay aren't paying for any other student.

Then they should raise the prices to $140k/yr , no finaid. let the market decide.

Agreed. As a donut hole person I am very bitter about the whole thing. Made huge sacrifices my whole life to be fiscally responsible and save and I get nothing. People saved nothing to take fancy trips and drive ridiculous cars and have more kids than they can afford and they are getting money left and right. I don't think there should be allowances for multiple kids - shouldn't have had more kids than you could afford. I am more supportive of helping those who truly have need but that bar has crept up a lot. If you can't afford it, go to State U and let your the next generation prosper.

Source?
Whom? Who is getting money left and right?? They got into a HYP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Plus I think you are overstating the generosity of FA. Many families getting FA are quite hard up. The number with big houses and fat retirement accounts but low income who receive FA (which you seem to be thinking about) is going to be a very small group, and not a sympathetic one.

this is a large-ish group actually. or people who have small business who take 40k of income during these years (and 600k other years - my dentist does this)

I think you'll be stuck this year but if you buy a 3mm house, you'll pay nothing 25-26.

People have gamed it. Putting $ Cayman islands +

or just in 401K or IRA...

[Anonymous]

Isn't Harvard offering free tuition to families making $200kor less? Presumably if you are just over $200k you would qualify for some aid. What did they offer already?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those schools are losing hundreds of millions in cuts so I doubt they will give you anything.

And their endowments have taken the same market hit as op. Plus they are eyeballing possible taxes on their endowments.

You can always ask, but I wouldn’t expect anything more than empathy.

These schools need to stop forcing parents to subsidize other people and drops prices across the board

during an accepted students yale info session, they said it costs them 140k a year per student. so everyone is subsidized to one extent or another. and full pay aren't paying for any other student.

Then they should raise the prices to $140k/yr , no finaid. let the market decide.

Agreed. As a donut hole person I am very bitter about the whole thing. Made huge sacrifices my whole life to be fiscally responsible and save and I get nothing. People saved nothing to take fancy trips and drive ridiculous cars and have more kids than they can afford and they are getting money left and right. I don't think there should be allowances for multiple kids - shouldn't have had more kids than you could afford. I am more supportive of helping those who truly have need but that bar has crept up a lot. If you can't afford it, go to State U and let your the next generation prosper.

Source?
Whom? Who is getting money left and right?? They got into a HYP.

+1

So much complaining about schools that are a "lottery ticket" for admissions anyhow.
If you are a "donut hole person", yes you can afford to save for college. Maybe you cannot do $90K/year but you likely can do instate/$40K/year. That is so much more than 80% of the USA.
Do you also complain that "it's not fair that my neighbor can afford a BMW/Mercedes, but I can only afford a Toyota"? You live with your life choices and focus on making yourself fiscally responsible.
It's not your choice how Harvard decides to give money. You are not entitled to aid from them....they get to choose. Be glad you have the opportunity to pay for $40K/year and not be financially strapped---much better than living on $100K/year and oh if you get into Harvard, most of it will be paid for. Because outside the T25, that isn't the case...that person won't be applying to a 30-40 ranked school that is $90K, because they cannot afford it

[Anonymous]

Anonymous wrote:
If you are a "donut hole person", yes you can afford to save for college. Maybe you cannot do $90K/year but you likely can do instate/$40K/year. That is so much more than 80% of the USA.
Do you also complain that "it's not fair that my neighbor can afford a BMW/Mercedes, but I can only afford a Toyota"? You live with your life choices and focus on making yourself fiscally responsible.

Um, yes, if that person with a BMW/Mercedes has it because it is subsidized!!!!!!!!!!!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:
If you are a "donut hole person", yes you can afford to save for college. Maybe you cannot do $90K/year but you likely can do instate/$40K/year. That is so much more than 80% of the USA.
Do you also complain that "it's not fair that my neighbor can afford a BMW/Mercedes, but I can only afford a Toyota"? You live with your life choices and focus on making yourself fiscally responsible.

Um, yes, if that person with a BMW/Mercedes has it because it is subsidized!!!!!!!!!!!!

Exactly. I am all for economic and other forms of diversity at colleges. But I think they have gone too far too accomplish this at this point. Should a rock star kid from a poor inner city or Appalachia family get some help so they can afford to go? Awesome! But the system currently involves gaming by UMC families and that should not be the goal. Going to a top school is a privilege, not a right.

When I chose to have kids, I almost stopped at one, because I wanted to be able to fully provide for them. We decided we could make two work and have been fortunate to be able to do so, though it involved some sacrifices and compromises. I didn't expect handouts because I chose to have more kids. Mind you, I am a lifelong Democrat.

Sorry - I'm currently working on wrapping up my taxes so this is all top of mind.

[Anonymous]

Anonymous wrote:Isn't Harvard offering free tuition to families making $200kor less? Presumably if you are just over $200k you would qualify for some aid. What did they offer already?

that;s only if your assets are under 250k. which leaves out most people

[Anonymous]

Anonymous wrote:

Anonymous wrote:Isn't Harvard offering free tuition to families making $200kor less? Presumably if you are just over $200k you would qualify for some aid. What did they offer already?

that;s only if your assets are under 250k. which leaves out most people

But those assets exclude primary residence and retirement accounts

[Anonymous]

Anonymous wrote:

Anonymous wrote:Isn't Harvard offering free tuition to families making $200kor less? Presumably if you are just over $200k you would qualify for some aid. What did they offer already?

that;s only if your assets are under 250k. which leaves out most people

Yes, I kind of hate the "free tuition if you make less than $200k" because it's very misleading.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Isn't Harvard offering free tuition to families making $200kor less? Presumably if you are just over $200k you would qualify for some aid. What did they offer already?

that;s only if your assets are under 250k. which leaves out most people

Yes, I kind of hate the "free tuition if you make less than $200k" because it's very misleading.

It's all about the headline, and I hate that they get the headline. The NYT article that followed this announcement didn't even mention the "typical assets" bullshit. In what way is 250k typical assets for a family with adults in their 40s/50s making 200k a year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Isn't Harvard offering free tuition to families making $200kor less? Presumably if you are just over $200k you would qualify for some aid. What did they offer already?

that;s only if your assets are under 250k. which leaves out most people

But those assets exclude primary residence and retirement accounts

even those, only to a point.