Reply to Middle class families - Are you willing to take on a ton of debt for a top college?

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[quote=Anonymous][quote=Anonymous]Yes, what is middle class in this case? 170K, 500K, 75K per year? Let's say it is around 150K.  How can you justify taking a loan that is possibly half the cost of your house if your house is 400K, which is a modest house in DC metro? How can you possibly hope that you can repay that if you are mid 40s and have mortgage payments and income will not increase, but decrease with retirement. Are you going to sell your house and pay off that Parent Plus Loan and be without any savings?  What am I missing?  Even a cheaper in state college, with dorm, is at least 26K, and to me even 100K is a ton of money, having two kids, we are talking about 200K anyway with a regular in state school, unless you are lucky and live close to the college. Tell me how do you plan on paying that off?  I certainly wouldn't consider 500K middle class, even if it might be here in DC. And I know from our own FAFSA that with an income of 150K DC got only 5K in Direct student loan for school that was over 50K per year.[/quote]
According to this thread middle class are those who are paying 50% taxes on their income. [/quote]

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