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College and University Discussion
Reply to "How are normal people paying for college? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Normal people make $70k a year. Their kids go to state schools or community colleges. [/quote] People in that HHI bracket get FA. [/quote] Not really. I just put 70k household income, $30k in investments, no savings, kid has no money into the EFC calculator and came up with like $3,500 for an EFC. Okay, well that sounds reasonable. So I went to the Penn State net cost calculator (https://cce.ais.psu.edu/netprice-calculator/) just as a for-instance, and plugged in my $3,500 EFC: It's telling me total cost is $33k. Estimated scholarships and grants - $5k Estimated student loan - $6k And then it recommends $22k in parent loans. A family making $70k taking out $22k PER YEAR for their child's undergraduate education is absolutely insane. Talk about a broken system. Your only hope at that income is merit aid. College is becoming out of reach for middle class Americans. [/quote]
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