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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] What is your mortgage? The ones who do it at 250k do not “cash flow” it, they have saved little by little for 18 yrs. 250k per year is very doable for one kid in college if one has saved even enough to cover 1/4 of the cost over the yrs, which is also very doable over 18 yrs—the market hs been good the last 10-12. [/quote]
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