Reply to Do families with $250K in income get financial aid? If not, how do they afford college?

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Reply to "Do families with $250K in income get financial aid? If not, how do they afford college?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Question says it all.[b] I have been hearing all of my friends who are federal government workers saying their kids are not eligible for financial aid.[/b] But I don't think this is enough $ in income to afford $70K in college costs per kid per year. And it's not as though these families had extra income before their kids went to college - in this area, a mortgage, saving for retirement, and cost of raising kids will eat up all of that income. Where does the extra $ come from if they don't get financial aid?[/quote]

- savvy investments - I look back and had I held onto my first property that would have covered private college
- family money
- only have one kid
- cash flowing some of it
- taking on a lot of debt/not saving for retirement 
OR
Kids are not attending a 70K or more school[/quote]

Without stating the obvious...two Fed workers with college age kids have a HHI or $375-400k. Ain't nobody getting aid with two Fed salary household.

I have been with the Feds since age 25 and make $200k. Spouse contracts for them and makes $280k.  But even if he were in-house Fed like me we would be making minimum $400k.  He made more when we were young and [b]we still own our first home (rental property)--which is used against us as well for aid.[/b][/quote]Yes assets owned are part of the calculation. [/quote]

As they should be (well except for the first house---because nobody is going to sell the home they live in to send a kid to college). [/quote]

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