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College and University Discussion
Reply to "Why do donut hole families"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]I think it’s insane that our $250K family did not get 1 penny FA for a $60K/year school.[/b] We were also not always $250K family, we were closer to $160/year, then $180K for a few years. Plus the $250 includes one of us having 2 jobs. My H is a cop and I was a GS-13 most our lives so we could not really save that much.[/quote] Were you surprised by the outcome? Did you just assume your child would get a lot of financial aid the entire 18 years they were growing up? I am honestly curious because so many people screaming “donut hole” seemed shocked and outraged when college comes around and they are not getting financial aid. Were you reading newspapers or financial magazines or anything for the last 2 decades?[/quote] I was most surprised when my income increased so much in 4 years. We mostly made $160-$180K so we knew we were screwed either way. Making $250K is all in the last 3 years . But the donut hole issue we saw it coming. Luckily we have an athlete and gamed the system that way. He got a 60 % scholarship too a T 30 school. My other son did the SEC in state route. I’m not shocked or outraged at out situation. I do think it’s an outrage that if a child’s mother marries some dude when she is in college she has to drop out because his income invalidates her FA. My H a cop. I’m a govt worker… I had no expectations of a T30 school. But I can still look at a system critically and see it is set up badly. [/quote] Or the parent can wait until the child leaves school. I know folks who've done this.[/quote]
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