Reply to if you're using private, are you saving enough for each child to go to any college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are just below $200,000 and I am not going to save for college. For us, it doesn't make any sense. I am making a trust that she will have access to after she graduates. That way she will still be eligible for maximum aid.

She will then be allowed to use a portion of the principal to pay off school. The rest will go towards rent.

[/quote]

So nice that you take pride in gaming the system.  I'm sure alumni who donate to your daughter's future school would be thrilled to know they'll be supporting her trust fund.[/quote]

My thoughts exactly.  It's why I think twice about supporting scholarships--because people voluntarily impoverish themselves to get handouts.[/quote]

Wait, so if our hhi is around 200k, and we don't yet have many assets (new to our careers and therefore to this income level, lots of student loan debt), should we consider filing for financial aid when we apply this fall?

Are you talking about applying for aid at private school with HHI of 200k and student loan debt? Absolutely, yes, apply for aid. You will likely get 5k to 10k depending on the school.

Honest question, because we're considering not applying to schools over a certain tuition level because of the need to begin saving a least a modest amount. If folks making around this much as getting 2000-3000 reductions off the price tag that might make us bold enough to submit an application.[/quote][/quote]

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