Reply to Do families with $250K in income get financial aid? If not, how do they afford college?

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Reply to "Do families with $250K in income get financial aid? If not, how do they afford college?"

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[quote=Anonymous][quote=Anonymous]We are over $250k but only recently and before that had childcare costs and our own student loans. Our goal is for our kids to graduate without loans and we are budgeting pretty tightly just for state schools since we got a late start. We do a lot of things mentioned here- drive old cars, live in our first house, limit meals out, etc. But honestly some of the posts in these threads are extreme. People claiming they NEVER take a vacation or eat out or buy a decent pair of shoes. WTH? Is a private school so much better that you never treat yourself? not so much on this threads but there are others that make the sacrifices seen SO great just to send a kid to a private school where most kids won't think twice about $. I had 2 friends in college whose parents mortgaged homes and businesses to send them.  The stress was immense- one dropped out; the other developed a drug problem. Both moved far from their parents. How about some balance? [/quote]

I agree, it is not smart to leverage yourself to the hilt to attend an expensive private school.  In reality, most in the 200-300K range save for In-state and maybe a bit more.  There is not requirement or need to save for 90K+ schools.  If you have 50K/year saved, your kid can attend a lot of schools and at that income you could cash flow some, and just cut back a bit for the 4 years a kid is in school if that's what you want.

But I wouldn't never vacation, drive 15 yo cars, never eat out so my kid can attend a 90K university.

Also, most of us live where kids can earn $10K/year towards college fairly easily.  Have the kid do that to help with costs.  If they work PT during the school year (10 hours/week) they can earn even more.  It won't hurt your kid to help with school
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