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Reply to "Down and Out on $250K/year...."
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[quote=Anonymous]What sickens me is that we save a ton for college while another family doesn't. The savers end up paying full price while the non savers get a huge subsidy.[quote] I don't know what you mean by a "huge" subsidy. Financial aid takes assets, family size, etc. into account, but the lion share of what determines how much you get is income. Also, 529s affect financial aid less than custodial accounts in the kid's name, trusts, and taxable investment accounts. It is effectively a sliding scale, based on how much people can pay. It is certainly possible that someone who saved would have to pay a little more than someone who didn't, but people whose income is over 150K aren't getting that much in the way of grant aid anyway. And as a PP mentioned loans are eventually paid back, and subsidized loans are much of what you get when you receive financial aid at the higher income levels.[/quote]
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