Reply to where do highly academic $ donut hole students go?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Williams for us - pay $23k with $210k income. Pretty low assets (one govt employee and one assoc prof who rented forever). [/quote]

Then you aren’t doughnut hole. It’s similar salary but with assets, including primary residence you can’t really sell, that make you ineligible for grants but unable to afford $85K a year.[/quote]

in DC area--$300k-450k is a donut hole family.  2 or more kids.  SFHs run you $750k-2 million. COL is very high here.

A lot of pricey private schools offer merit or aid for $200k-once you get to $300k forget it.[/quote]

And agree the assets get you.  Home equity, some include investment/retirement, etc.  Which is why 2 families making the same $210k--one will get aid and one won't.  The big spenders will get the aid and the smart and frugal that saved will get jack-sh*t.[/quote]

Income is weighted more heavily than assets in determining aid.  And colleges only expect you to contribute a certain % of your assets (way less than half).  So despite a difference in aid level, it's much better to have those assets than not to have them. [/quote]

[b]So the trust fund parents with low salaries will get aid in that scenario--while the grinders pay more.  Kind of like paying taxes... donut hole always get screwed.[/b][/quote]

In DC's private elementary school, this was the case numerous times over. One parent had trust fund, other parent didn't work at all, two kids, got FA to attend school. Or families with second/vacation homes getting FA with one wealthy parent and one stay at home. As another poster said: parents who work hard for good salaries (but not outrageous salaries) get penalized the most with college aid.

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That’s…really weird because I stayed at home and the private assigned me an arbitrary income as did the colleges when my kid applied.  The schools also asked us which cars were in our driveway and expected us to drain our assets to pay before giving any aid.  I must be too honest or something.

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