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College and University Discussion
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]Question says it all. I have been hearing all of my friends who are federal government workers saying their kids are not eligible for financial aid. 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] When we made less than 200k we afforded $3500 per month mortgage, private school of 28k, and still saved 2k per month….saved more as we made more income ; only spend 3-4k a year on vacation and are good at budgeting. The 529 is not huge but 85k per year minus the 28k we are not spending on k-12, plus 529 cash is doable , for 2 kids even… Full pay just takes planning, for the 200k + crowd[/quote]
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