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

Forum Index » College and University Discussion

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][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]

The aid packages say no loans, but that plenty still have to take them. We have a similar HHI and two kids, so they will be taking loans if they want to go to a school that costs more than our EFC. I would love to meet the person who managed to save twice their current hhi in addition to funding retirement [/quote]

You're responding to me. Granted that I don't think we could have done it with two kids. Our limited resources were the reason we stopped at one. For my family, being able to pay for a superior undergraduate education even though we're government/non-profit types was part of a large plan with many moving parts. [/quote]

Unless your kids are very young, the rules changed after they were born. FAFSA used to take siblings into account, now it doesn't which means that each dollar in either 529 is theoretically available to simultaneously pay both tuitions according to the new calculation[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics