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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I get this is not everyone, but if you’ve done a major kitchen and bathroom remodel when those rooms were totally functional but just outdated, and you are driving two fully loaded 50k vehicles and you have a lawn service and cleaning service and your average athlete kids play travel hockey etc etc, you threw yourself right into that donut hole yourself. [/quote]

In a high COL area, the donut hole hits families who could never afford a 50k car or major renovations. Around here, a teacher married to a cop can earn enough to hit donut hole status  [/quote]

This is true. Our closest friends are a teacher and a non-profit grants manager with a HHI of <180k. They live in a tiny, dated, starter house in Silver Spring, drive 10 year old cars (which they bought used) and have only been on one long-weekend trip to Europe, paid for by her parents. All other years they spend a week in Ocean City. They qualified for zero financial aid. [/quote]

So - an AGI of 150k or less let’s you attend Columbia at no cost.  Most top schools (the ones OP is complaining about) do give financial aid at that income level absent significant non-retirement assets.  At a state school perhaps no financial aid but at private schools yes financial aid at a HHI of 180K (with an obviously lower AGI). [/quote]

I just rank 180k with no savings, a 400k house with a 100k remaining mortgage balance through Wellesley's calculator and the expected parent contribution was 43k a year in addition to a loan. To me that's a fairly crushing amount of money for a 180k hhi. [/quote]

Agree.  However, colleges seem to expect you to have saved for the kid's education over the past 18 years.

It's funny how they all act charitable with their 'we meet your full "demonstrated need"' BS when they get to define what that "demonstrated need" is, regardless of where you live!  And we, the people, fund their huge tax breaks!  Pathetic.[/quote]

Amazing how that works.  Colleges expect you to save for your kid's education, or at least top ones do.  If it's so important for your family and you make $180K, then perhaps you should save.  Maybe you wont get to 80K/year, but you might save $160K, which means you could take loans/cash flow the rest if it's truly that important to you.  Or better yet, you now can attend a school just below T25 with minimal to no debt[/quote]

The assume that you've had those salaries long enough to save. A teacher married to a cop may have a 180k HHI, but that's once both of them accrue years of service. Starting out they'll make half that which makes saving much in somewhere like DC impossible. [/quote]

Top schools take assets into account too when making these determinations. [/quote]

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