Reply to Is there a calculator or benchmark for how much college we can afford?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is a topic that really torques me off, OP. Colleges absolutely expect parents to bend over backwards to provide any and all EFC amounts through cash flow. Go through some net price calculators, [b]zero out all savings and home equity[/b], and you’ll still discover that an above average HHI has your EFC skyrocketing very quickly. In other words, colleges DON’T expect you to save for the majority of expenses. Rather, they expect you to reduce your standard of living while your kids are in school to that of the unofficial HHI cutoff values. These are typically around $75K - $150K.

For example, a family with an HHI of $150K or less might receive a very comfortable financial aid package. Whatever you make above this, universities will expect you to pay out. Make $350K HHI? That’s $200K more resources you have vs. the $150K family (maybe $120K after taxes). So University X will figure you can slash your living expenses by up to $120K per year, if necessary, which easily covers tuition/room/board…so therefore you receive NO financial aid. [/quote]

NP. I mean, does anybody here really think you should qualify for financial aid if your HHI is $350K?[/quote]

Education should be free for all. The better schools should be reserved for the students that worked harder to get there. Full stop. [/quote]

Cute. College is not an entitlement. You don't have to go. What's next, free grad school?[/quote]

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