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[quote=Anonymous][quote=Anonymous]Our HHI is $145K, but we have [b]$350K in savings outside of retirement accounts[/b]. Three years ago, we were denied any aid at every private college including Yale. The FAFSA said we could pay $59K. Ha. Ha. Ha. We're very close to retirement too. 
Our youngest child is going in-state with merit aid and a bunch of scholarships. We would not allow DC to apply to any private colleges because even with merit, in-state would always be cheaper. 
I really don't get what "qualifies" you for FA, especially at very wealthy colleges (think Northwestern, HYPSM, Haverford, etc.). We're middle class, live in a small house, drive old cars, live frugally. Why should we spend most of our savings to send our DC to a fancy private college? Why do the colleges think this is reasonable? [b]We'd be crazy to do so, especially so near to retirement[/b]. It would be irresponsible of us to spend down our rainy-day fund. What if one of us gets laid off? We'd have no savings to fall back on.
Thank God for in-state colleges!!! [/quote]

Why do you put such a large sum of money outside of retirement accounts?  Why can't you put it into your retirement accounts if retirement is what you worried about?[/quote]

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