Reply to What do you mean when you say you "can't afford" a college?

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[quote=Anonymous][quote=Anonymous]For the average family earning between $30-65k, the net cost of attendance after all grants, scholarships, and discounts is about $23k.  With some debt, a family might squeeze by paying 30% of their income for college, but 70% of income is just not possible for four years.  [/quote]

So interesting about the $23,000. Where is that figure from? We are a single-parent family with an income of about $85,000, and the financial aid for most schools DC is admitted  to comes out to $23,000. That's including merit aid, but I'm subtracting out the federal loans and, for some, work study. It doesn't matter if they are private or state schools in other states. In-state, is just slightly cheaper. I was hoping we'd get a little more aid, but it is what it is. I did not allow DC to apply to private schools where I could tell there wouldn't be much scholarship/grant money available.

So to answer your question: We really can't afford these colleges. Is DC still going to one of them? Yup. I will have enough in a 529 to cover the first two years and then we are loan land. Yes, two years of community college would be a bit more fiscally responsible, but just felt too much like more high school to DC and I do worry about the low transfer rate to four-year colleges. Still hoping some private scholarships come through.

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