Reply to Moving $200,000 out of cash to improve chances for college financial aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don’t think it will matter. You have to be pretty low income to get FA these days. Otherwise you’re looking at loans, and do you really want that.[/quote]
"Low-income" as in making under $200,000 per year—you know, the 88th percentile of household income in this country. I see you're very in-tune with the average American.[/quote]
It’s not so much income as assets. We have about $180k HHI but our home has gone up more than 40% in value to about $1million and we have a good chunk of retirement and savings. We don’t qualify for FA. Nor should we; that’s what we were saving *for*. We can’t afford a $90k school but we can afford $50-60k. Kid is a very strong candidate and will also be applying to schools a couple tiers below what they could get into in hopes of some merit aid. Then we’ll just weigh options. Kid is well aware of the finances so that they keep it in mind when thinking about schools and there are no surprises for them. [/quote]

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