Reply to Top Colleges Are Cheaper Than You Think (Unless You’re Rich)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. [b]Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.[/b][/quote]

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

[/quote]

Out of current year's income, yes, probably... but saving for 15 years from similar income?  Should not be.[/quote]

That supposes that you are making that same income for all those 15+ years.  We make that now, with two in HS and are shoveling as much as we can into college savings, but it's a very recent development.

And, many families who are making that income via two salaries by the time their kids are approaching college would have been spending what they might otherwise save for college to pay for childcare.  [/quote]

[b]I suppose it is possible for income to suddenly jump dramatically, but it seems unlikely in most cases. 
[/b]
I do agree $200K in San Francisco is different from $200K in Omaha, and that can seem unfair WRT housing costs.[/quote]

Actually, it is common.  Our HHI is a little more than double what it was when DC, now 20yo, was born.  It has increased over the years.

In the early years, when it was half or a bit more than half of what it is now, a big chunk of it was consumed by daycare, and housing.

This is the most common (not unlikely at all) scenario for donut hole families.[/quote]

This is particularly true if Mom stayed home when the kids were little but then went back to work as i did. I couldn't have saved $70,000 a year when I was making zero  Thousand dollars  a year[/quote]

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