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College and University Discussion
Reply to "Why do donut hole families"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think it’s insane that our $250K family did not get 1 penny FA for a $60K/year school. We were also not always $250K family, we were closer to $160/year, then $180K for a few years. Plus the $250 includes one of us having 2 jobs. My H is a cop and I was a GS-13 most our lives so we could not really save that much.[/quote] Well if you still lived as if you earned $160K/year, you could cash flow the $80K/year with the extra. You could have chosen to save the increases in income for college (or at least part of it). [/quote] We do still love the $160k/year life. $250-$160= $90K - taxes, SS, etc = $45K/year. Two kids in college = $40K/year/kid = $80K. So we are still in the hole $35K/year. [/quote] Well obviously you can’t afford to cash flow college. Who can?? That’s why “college fund” is a term that everyone in America understands what it means. [/quote] So explain to me how I would have "saved for college" when our HHI was $120? because it was not $250 our whole lives it literally took 25 years to get to that. $160 wasn't much better becasue we moved out of our apartment and had day care. So are you saying just don't buy a house that's a luxury? Don't get promotions because you can't get FA? explain to me how I sace making $120 or even $160?[/quote] You’re saying that you were saving $0/mo for college when you were making $120k? Not even an extra $50/mo in a 529?? 😮[/quote] I was saving for a house. I lived in a group home. then I bought a home with 20% down. Did somebody gift you a home, do you not know how this works in the US? You think i owned a house and had kids at 1st?[/quote] Why weren’t you putting away babysitting money for a house down payment during your teenage years? That’s what most of us were doing.[/quote]
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