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Reply to "What is your EFC and what can you actually afford to pay?"
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[quote=Anonymous]Our HHI is 300K. We have prepaid MD tuition for both of our kids (5 years each). In addition, we will also pay no more than $50 K for each child per year, for 8 years of college each. We did not apply for any aid whatsoever, though DC1 got full merit scholarship for undergrad. We expect the same for DC2 next year. We were clear that kids could either go to state or Ivy and we would pay for it. We have finite ability to finance their college and it is on them to maximize their education dollars. Our expectation is that they will incur minimal education debt and will complete graduate or professional school after their undergrads. We also expect them to study something that will get them high paying and secure jobs (Yeah, I know. Shoot us!). So, we would not finance undergrad in Art Appreciation in an Ivy school. Their choice in such a case would be to use the prepaid tuition only and make what they want out of that. [/quote]
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