Reply to UVA vs Cornell, Georgetown, etc. for in-state

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]If you make $300k+ and can’t afford an Ivy if your smart kid gets in it’s because you spent 18 years trying to keep up with the Jone’s.[/quote][/b]

You're not taking federal, state and property taxes into account.[/quote]

[b]BS and you know it. [/quote][/b]

Where's the BS.  Take 300K.  Half it for federal state and property taxes.  You're now to 150K.  Subtract 65 for Harvard, you're now down to 85K.  Do you have other children to support whether in private or public school?  Or in college, too?  Subtract that.  Do you have elderly parents you are taking care of? Subtract that.  Now subtract your mortgage, life insurance, food, clothing, Christmas budget, vacation budget (in our case nonexistent), money allocated to retirement (hah!), utilties . . . the list goes on and on.  Try that with two or three kids in college at the same time who want to go to grad school.[/quote]

Why it is so hard for you to understand?! A person with the type of finances described above and 2-3 kids in college would qualify for substantial need-based aid at the ivies. [/quote]

I[b]f you don't have much in terms of assets, yet.  A $300K income with $1M in non-retirement assets gives you zero financial aid for 3 kids in college at Harvard.
[/quote][/b]

Precisely.  And we did liquidate children's trust funds to pay for private schools and tutoring.  We filed the FAFSA and got zero financial aid.  Now if we grossed only $65K a year, we would have received it.  FAFSA applies across all schools.  We received nothing from Harvard, Ga Tech, Purdue, Cal Tech, UVA, Penn State (safety), and Yale.  Nada. Those promises of need apply only to a very select group of people. We have need but our kind of need (two kids in college, elderly parents in nursing homes, too high income) doesn't count.[/quote]

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