Reply to What is a "donut hole family"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]new poster here

Wow.  I thought we were a "donut hole" family but I guess not.

What is a step below "donut hole" called?   We make too much to qualify for aid, but paying for an expensive school would involve far more than "liquidating assets."  It would be more like taking on a second full time job, skipping at least one meal a day,  absolutely zero entertainment budget (not even cable tv or netflix) etc.[/quote]
No Netflix?? Surely you are kidding. You are basically describing what lower income families sometimes do to afford even state schools. [/quote]

Yes, that's exactly my point.   Some "lower income" can't afford these things yet still "make too much" to get financial aid.  I thought that was "donut hole" but apparently I was wrong, because it's been posted here that Donut hole families still have assets to liquidate.   
I'm asking what it's called if you don't have those assets yet still make too much for financial aid.[/quote]
Not following. Are you saying you can't afford your state school without financial aid? Because it sounds like you are saying you can't afford an elite school without financial aid, which does sound kind of entitled.[/quote]

+1 but if you really really want that fancy school for your kid you can move into a condo, cancel Netflix, get a second job, and get it done. But it’s not worth it so it’s not worth it.

The “entitlement” is feeling entitled to send your kid to the very best school they get into, because you think that’s what meritocracy means. And it’s a rude awakening to find out that’s not true. [/quote]

Yeah, cancel Netflix and pay a realtor a huge chunk of your home equity and start paying monthly rent instead, and also get a second job even though that is going to get you fired from your first job which disallows moonlighting; that will cover the 80K per year for your kids. Not.

You are so clueless to suggest it is that easy. The donut hole is not about people making bad financial choices -- it's about the real middle ground between the extremely wealthy and the groups that get financial aid (including loans). Just because people are in fact in the donut hole does not mean they have excess money or that they feel entitled to expensive colleges. The whole point of the moniker is that they are stuck in the middle ground of those two extremes.[/quote]

Wow, the resentment and entitlement just oozes from this response! (I mean, not only does it complain about the cost of elite colleges, it also takes a swipe at real estate agents!).

The bitter reality is no one owes you anything just because your kid applied to and was admitted to a school that costs $80,000. Your very first mistake was allowing him to apply in the first place knowing you couldn't pay for it.  Do you go shopping for Lambourghinis and then whine about how they're too expensive but you feel like you are owed one because you're a good driver?

The "donut hole" families that make $80,000 a year work are those who had the foresight to start saving for college when their child was born and are doing some combination of savings, pay-as-you-go and loans.  Others look at that option and go, "nope, it ain't worth it" -- and they're usually right. It's *not* worth it for most undergraduate school experiences. [/quote]

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