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]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]

+1. If you save even half the cost of a private college you may be able to afford it paying the remainder out of pocket. Our experience was that the top schools are pretty [b]generous with financial aid even for folks with 200k HHI. This was our experience anyway[/b].[/quote]

[b]That is the opposite of our exper[/b]ience.[/quote]

+ 1.  Two times through the mill.  Not a penny from top-flight schools.  FAFSA gave us only the minimum $5K loan.  The only merit aid offers DCs received were from colleges they had not applied to who wanted their ACT scores and were willing to pay $26K for them.  Still, it was cheaper to go with UVA than the LACs offering merit.[/quote]

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