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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Can we just agree that paying for college and the process to qualify for financial aid is one of, if not the most, effed up processes in America? Why are retirement assets not counted? If person 1 has HHI of $150k has the ability to shelter all their savings of $1.5M in a 401k and IRA, Princeton costs almost nothing. Person 2 has that same $150k HHI, but the same savings of $1.5M are unsheltered. They are full pay. And lifetime spending/saving choices with the same income have dramatically different financial aid outcomes, with savers being slaughtered. Spouse and I made peace with and accepted this insanity years ago. We have high income and good savings both in and out of retirement funds. We could do a fully pay private but have long tried to educate DS on the college value proposition. DS will attend UMD this Fall.  [/quote]\

Cost of living!!! without stating the obvious, a $250k HHI is widely different in NYC, DC, San Fran than the middle of nowhere or a small town in the midwest, south.

I never could understand why COL/location isn't part of the calculus.  I mean where you live also can get you in the school---the same places that are remote and not many applying from also get into the school at much higher rates.

When houses in your county/city [i]average[/i] $1 million and rent is 3X the national average---you aren't living like kings on $250k like people with a brand new 4,000 square foot house they purchased for $275k.[/quote]

I think COL may be part of the calculation at CSS schools. 
As for 250k, it's still well off, even in DC.  If we can manage on half that in MoCo, then 250k should still be UMC, even in dmv.
We are savers. More in retirement but a good amount in 529s.  2 kids at Ivies with good FA. Savings did not hurt us because they are reasonable.  [/quote]

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