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Reply to "Is there a calculator or benchmark for how much college we can afford?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My rule of thumb is that colleges expect you to pay roughly 25% of your income each year. At $175k that would be at least 40k. The poster above had good rough numbers on that split. Another way to look at this is opportunity cost. Plug in the cost of four years of college into a compound interest calculator at 7% for 10 and 20 years. This gives you a sense of how much worth the education costs would be compared to future investment growth. It really reinforces the goal of trying to keep college as cheap as possible.[/quote] Trying to understand the college expectations. Are you saying that colleges expect you to pay 25% of your gross income? If that's the case, no wonder higher education is broken. That's absurd. [/quote] And assets count. [/quote]
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