Reply to What money is fair game for financial aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]The colleges assume that relatively more of the tuition money is coming from your income rather than assets. [/b] So, for example, if you have 100K in savings, they may say that about $10K of that should be used toward tuition.  You can play with a net price calculator for a specific college and see how they assess income vs assets.

Re: the pellionaires.   The AGI to avoid declaring assets for Pell grant is very low, like $25K.  This works for some FIRE crowd who tend to move to areas with low cost of living, but for most other people, even minimal living expenses will trigger revealing their assets.   Also, the majority of  at least somewhat competitive schools, including the publics, require CSS.  If you are considering the kind of school that looks at FAFSA only, you'll likely end up at the same place with merit aid they offer.[/quote]

I don't think this is true. Our HHI is around 250k and none of the cost estimators have us getting any aid. We have two kids who will be in school at the same time, so paying out of income would mean that we would be paying most of our income every year once you account for taxes. We save heavily because there is no way that we could afford college for our kids otherwise. [/quote]

If you earn $250K a year and didn't save for college (which you did) its absurd to expect financial aid.  You could have easily saved $10-20K per child per year and still lived comfortably.  We earn far less than you and still saved for a fully paid state school plus money for graduate school.  Its about priorities.  Your priorities are to save which is great but why should someone else who earns the same income who choose not to save get a free pass because they choose not to save?[/quote]

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