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

Forum Index » College and University Discussion

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]we make about 275k and receive 40k in aid annually from princeton[/quote]

People need to understand it’s about liquid assets. $$ in savings, 529s, CDs, brokerage accounts (other than 401k) will disqualify you from financial aid even from generous schools like Princeton no matter how low your HHI. [/quote]

sounds like they punish excessive savers.  :thumbup: [/quote]

Yep. It’s effed up.[/quote]

Not at all. Those able to save that much don't need the aid. They don't punish reasonable savers. We had 200k saved and still got great aid.  Income weighs far more heavily than savings. You'd have to have a lot of assets (vacay home)/savings to lose out on FA, and then there'd be no need for FA![/quote]

200k is too low of a savings threshold at a 250k income to eliminate FA. I’m not tapping my retirement accounts to pay for college but as a taxpayer I don’t appreciate my tax dollars subsidizing people who spend more than they should.[/quote]

Hahahahaha. This is such an entitled perspective.  We only make 140k. If you make 250k, you should be able to save more than that.  Even if you don't,  you can cashflow some and take loans to pay for the remainder. And, if you cashflow some of 1st year, your 529 savings are still accruing interest for the later years.

What happens if I made better choices and investments than you?  If I'm retired at the double nickel with money in the bank, am I or my husband bad people?

If you can do this on 250k with 200k savings, then go in-state or to a school that offers merit. You choose not to save/invest, then fine. [/quote][/quote]

I love that this person thinks that because they make 250k or have more money, it's simply because of "better choices." If you are all set, then why are you talking about tapping retirement accounts? That's not even a consideration.  If you make 250k, you should get some FA and have some savings, more than mine because you make more, dummy, not because of "choices." If you have a million saved because of your savvy choices, great! You don’t need FA. Don't complain here.[/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