Reply to The New America: Elite Privates forever out of reach for UMC?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Classic “I don’t have any money left after I spend it all” thread.

College pricing is now more differentiated than ever. [b]The donut hole that existed when I was a kid has actually been fixed.[/b] You just don’t like being asked to save what you could have, if you had made it a priority. [/quote]

Oh, really? Then this entire thread and all these posters' experiences are just made up stories?

Kid, someday when you grow up, you will realize life is not fair. Most people don't jump straight into 6 figure salaries upon graduation with no debt. There are things like life expenses that get in the way. There are things like bad economies and unemployment. There are things like oh, Mom needs financial help. There are many, many things that get into the way of being able to build up the kind of savings to pay for an Ivy degree without assistance while still being responsible for your retirement and having a decent place to live and living a decent life.

Shrugs. No one is entitled to a fancy degree. We all know that. But whining that parents didn't save enough money and should be shamed is a childish thing to do when you don't have any clue as to what their life story was. [/quote]

But a lot of the PP's experiences are based on fears of what they think will happen rather than what they have directly experienced.  Or they chose to not try for private schools because of these fears.  As someone who has gone through the process, the net price calculators for each school are dead on--or slightly less generous than reality-- to what we received as a family whose income is considered in the "donut hole" and who have assets.  Private elite schools had more generous financial aid policies, less elite private schools had more generous merit aid policies.   There are places to write about extenuating circumstances in your financial aid application (for instance expenditures on parents).  So the best advice is to go to the net price calculators and see what they say.  In our experience, a portion of the aid for some schools will be direct unsubsidized loans through the govt--but these have maximums ($5,500 freshman year, slightly higher each year after--no more than $27K total for undergrad education) but the rest of the aid is grants at many elite schools.  
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