Reply to Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?

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Reply to "Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]These schools may not offer merit aid, but they all offer need based aid and many are need blind.  What's the issue?[/quote]

Because donut hole families in high cost areas are screwed!!

Their kid can get into Ivies, Hopkins, etc., but will have to be full pay at $85-90k because at $175k HHI they aren’t considered in need.  $360k for each kids’ undergrad is not doable without major loans even with $150k in each 529.  In fact, the asserts and 529 count against them too.[/quote]

Someone making $175k will receive significant aid at an Ivy.  Not sure why folks continue to spread this myth.[/quote]

This. Our HHI was around 190k and our kid got substantial aid. We live very, very frugally and had saved most of the ~55k/year that was our contribution. The top schools give aid packages that don't include loans, so while we still live very simply, our child received a fantastic education with no debt.[/quote]

Also, less expensive schools offered less generous aid packages, so they wouldn't actually have been much cheaper. We're in DC, and UVA's aid offer was basically just DCTag. Our kid also was offered a full tuition scholarship to a popular (but not especially elite) SLAC, but the living expenses would not have been covered, and the overall price wasn't much lower than the far richer experience she had at her very selective university.[/quote]

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