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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Often 2/3 of students at top ranked schools are getting need based aid that covers the vast majority of costs, on average.

200k is the typical cut off for need based aid (about the income level of a couple of school teachers at the peak of their careers aka “the wealthy”)

It just seems these schools must be populated primarily with lower income kids and then 1/3 rich kids.

I guess middle class kids end up at state school. 
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Poverty line is $35k per year.  Median American income is $69k. $200 k annual warning is top 10% nationally.  [/quote]
$220K in DC area is considered MC. It depends on where you live.[/quote]

Choosing to live in an expensive zip code doesn’t change what socioeconomic class you’re in.[/quote]
Once again, people don't necessarily &quot;choose&quot; to live in a hcol; they go where the jobs are.  Notice how during the pandemic when people could wfh, a lot of people moved out of higher col areas.  But, now many are returning because companies are requiring RTO.
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220k will get you a 900k house in Silver Spring, IB for perfectly good schools, close enough to the metro to commute that way but also not an insane driving commute, meals out a few times a week, a few nice vacations a year, two cars, and once you've saved up for that first down payment and gotten through the childcare years, you'll be able to max out your retirement and put a ton away towards college (unless you choose to have more than 2 kids, but that is on you friend).

The issue is that those of you in this income bracket don't want to live in a 1950s split level in Silver Spring because you think it's beneath you. You think you are middle class because you are living in a house built for a middle class person in 1955. But this is what happens in high COL areas. It doesn't magically make you middle class. You are living in a house worth close to a million dollars. Middle class peopel can't afford that.[/quote]
OK, but even in Silver Spring, median income is much higher than somewhere like WV.  Like I said, it depends on where you live.[/quote]

I can’t afford to live in Manhattan, Greenwich, Atherton, Lexington or Palo Alto, so I don’t. [/quote]
Indeed, and neither can a person who lives in Silver Spring.  And btw, the median income in Palo Alto is close to $200k but the median property value is $2mil+.

Again, median income depends on where you live.[/quote]

Someone making &lt;$200k has no business living there and is making a bad financial decision for attempting to do so.[/quote]
I don't disagree, but median income does depend on where you live.[/quote]

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