Reply to How much do you make and how much FA do you receive?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Wow, this thread was an eye opener.  Full pay parent here for two kids in Catholic private - about 40K per year.  Our HHI is over 500K, and assets are close to 5MM.  I am completely onboard for FA for socioeconomic diversity.  I am amazed that people making 250K+ are getting FA.  That's not diversity, and it's not reaching out for students whose lives you can really change with an education.   250K HHI is solidly middle class, and it sounds like FA is a way to make private an affordable luxury, versus going to what is probably a really good public.  If that's URM and 250 HHI, that starts to feel like window dressing to me.  This has really spun my head around on FA.

I guess another question I have for the folks in that range - private HS still not free.  Even at 50% tuition, with a couple kids in school that 20 or 30K a year.  How do you save for college?  Do you just plan on loading your kids up with debt?  I know for some debt is the only way through school, but if you are making 250K a year you should be able to put your kids through at the very least a state school debt free.  [/quote]

It has been shown that children of families with your HHI will shun the kids that are URM, but the kids from $100K-$250K families will not, because they have diversity in their family/neighborhoods/lives. They often are the only ones in their family with that income or the 1st ones. So they get a $2/4K break and it makes it affordable and they bridge the gap between the 1% and the URM -1%ers.

The $100K-$250K parents may have some college savings depending on what other expenses they have house/medical/etc, (and some have little retirement savings) but they will either work for the rest of their lives to pay for college, or they have an ethical ethos that kids need to have some "skin in the game" and they will need to take out some loans. 
[/quote]

+1. This is us. We are at $190 HHI and are recieving FA. We have exactly what you describe in our family and neighborhood in terms of economic diversity, and while we live more comfortable than some there are a lot who live better than us so we are in no position to judge others. While we are saving a modest amount for college and retirement we absolutely will be working for the rest of our lives to pay for college to help our kids pay for college expecting them to also contribute by either taking out loans or working part-time. [/quote]

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