Reply to What is a "donut hole family"?

Forum Index » College and University Discussion

Reply to "What is a "donut hole family"?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think one of the biggest flaws is that the calculator assumes that your current income is the income that you have had since your kid was born, and bases the amount that you could have saved on that. For many families, especially if they had their kids in their 20s, that just isn't the case. [/quote]

That's not my understanding of the way any calculator works.  They don't look at your income and make some sort of backwards projection.  They look at your income. and assets, and determine the EFC based on that.  [/quote]

If you run the EFC with savings vs no savings with the same income it comes back exactly the same.

You are correct they don't look backwards, but they should.

For 7 years i was paying about $35K out of pocket for a medical condition for my H and he did not work those years. When he went back to work our HHI went back up to $200K from $100K, we had to refinance the home to not lose it.

But it doesn't matter to the EFC, we make $200K, they don't care that we have no savings and our house (at 50) has 25 more years on the mortgage.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics