Reply to Do you make $400,000 a year but feel broke?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If they choose to send four children to expensive private schools and thus can't save any money, that's up to them[/quote]
Agreed, but that applies as well to someone at a lower income level.  If someone makes $50k and has four kids, should they be denied financial aid because they chose to have four kids instead of one?  If they chose not to study hard and that's why they make $50k now (or they want a 40 hour a week job instead of one that requires 60 hours), should they be denied financial aid?

No school takes the position that families on financial aid should be asked to spend every available dollar of disposable income on tuition to the extent of not saving a penny for retirement, so I'm not sure why that would change just because a family has a higher HHI.

Either financial aid should aim to give every family a chance to rationally afford it, or it shouldn't.  If it should, then there's clearly some very outlying and rare circumstances where a $400k HHI would need some level of aid.

In any event, I have to go back to generating my $400k now...  [/quote]

The phrase "rationally afford" is doing a whole lot of work here...[/quote]

Seriously. The "rational" budget in the scenario in this thread includes a lot of stuff that the $50k family could never dream of paying for. (And that's ignoring the implicit assertions that only people who "didn't study hard" make $50k, or that only people who make more than $50k work more than 40 hours a week.) Before you even start figuring whether it's "rational" to send four kids to private school if it means you aren't saving any money at the end of the year, maybe you've already made irrational spending decisions on some of the $33,000 a month you're grossing? (OK, fine, the $15,000 a month you're netting after taxes?)

There's always going to be a limited pool of money available for financial aid, so either you can decide that every family gets a small portion of it (in which case, why not just cut the tuition by the per family amount across the board?) or you can have an income past which you don't qualify. That [b]some people here[/b] think that line should be drawn above $400,000 a year is... instructive? Hilarious? Both?[/quote]

I read this whole thread--because it is [i]hilarious[/i]--but definitely got the sense that the pro-FA-for-$400K-income-families poster was just one person, carrying on an argument for 12 pages, against some amazing consistent DCUM pushback. I'll have to flag this thread for the DCUMmys award show next spring. [/quote]

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