Reply to Our EFC is 500,000????

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[quote=Anonymous][quote=Anonymous][mastodon][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our EFC is 230k.  We don’t even make that much 300k with both parents working + 2 million assets[/quote]

That seems about right? They expect you are able to pay about 40% of your income + 5% of your assets each year.

Whether you WANT to pay that much is a different story. And you aren't expected to pay 40% of your income each year - they assume at that level of income you had the ability to save more than someone earning just $45,000/year.[/quote]
[b]DCUM seems to think the formula should be “what would a UMC family be able to pay without any lifestyle adjustments.” [/b]In reality it’s more of a “what would be possible if it were really really important to you” situation.

Making personal sacrifices for your children isn’t for everyone. But don’t get mad that you are being forced to be honest with yourself about it. [/quote]

This is a perfect summation.[/quote]

Except we've made personal sacrifices for our child and saved a lot of money, as much as we can save while still paying off our loans, saving for our retirement. And it still may not cover 4 years of college in state.

And I'll say it. You should not have to make substantial lifestyle changes just to afford a basic eduction. You shouldn't. Every person pointing their jealous fingers at people making $400-500K a year or more (and to be clear, we make a fair amount but not that much) is being PO'd at the wrong people.

I work just as hard as someone making less than me. I come from barely above the poverty line, have been working HARD jobs since I was 14. Every summer. During school. Every break. I'm talking things like cleaning hotel rooms, picking produce, waitressing, grocery store work. . . . sometimes 2 jobs in addition to school. Why should I have to spend so much more -no aid, no reasonable tuition bill- to send my kid to school? Why should my kid have to spend 2 years at NOVA before going to 4 year university driven solely by money when DC has excelled in school and has earne the experience she wants?

I make no apologies for what I have. No one has handed ANYTHING to me over my entire life. There's no inheritance coming. No help from anyone. But I also don't think I should be financially punished for it just because other people chose other paths that make less money.[/quote]

No, I am not jealous of you making 500,000. We make over 2 million. However, your attitude is off. You should be able to pay for in state college just from monthly cash flow. Please go see a financial advisor and maybe a therapist while you are at it! [/quote]

Um, I don't make $500K.[/quote]

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