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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Those expensive schools need to prove their worth. Many middle- and upper-middle-class families don’t qualify for financial aid — yet they also happen to have the most competitive kids applying to selective schools. It makes no sense for them to keep funding institutions that give them nothing in return.[/quote]

Top schools give need based aid of some amount all the way up to 300k household income and occasionally higher. That is well beyond upper middle class it’s top 2%! If you cannot afford full pay for one kid above that then you have serious saving and budgeting issues. There is NO middle class donut hole, only an upper class one, a first world problem no one should complain about. [/quote]

They really don’t provide much if any aid to donut hole families. And if you live in a high COL area, a salary of 250k or so doesn’t go far. You also assume the parent was earning 250k+ for years and could save. The fact is that 90k a year for schools is RIDICULOUS and the schools need to fix this. [/quote]

DP:  So if they were not earning 250K for 18+ years (which is most likely true), then as they went from $125K to 250K, they could have chosen to direct a good portion of that to retirement AND college savings.  $20K/year saved for 10+ years and invested in stock funds would allow your kid to attend almost any school. [/quote]
To be fair, that wouldn’t be possible if you also have a large mortgage and/or are paying off student loans yourself and/or have medical debt or any number of big expenses.  $250 k isn’t a particularly large salary in the dmv and hasn’t been for a long time. [/quote]

If they were "living on 125K", they can defintatley continue to do so and use the rest for college savings and or paying of student loans.  They don't have to increase their mortgage (and shouldn't have a "big one" if they were only making 125K).  Point is they likely increased their lifestyle (not wrong, just a choice) and could have chosen differently if they valued education enough 
[/quote]

I guess it's possible to save $300k with that strategy but is it possible to save $600k for two kids?[/quote]

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