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[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not everyone, but if you’ve done a major kitchen and bathroom remodel when those rooms were totally functional but just outdated, and you are driving two fully loaded 50k vehicles and you have a lawn service and cleaning service and your average athlete kids play travel hockey etc etc,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]

If you make 180K and only have 100K in mortgage debt I would say you should be able to cashflow a lot.  Their taxable income is 154,100, their federal tax is about $17500.  Their mortgage is likely less than $1000/month and they take home over $100,000/year.  Just sayin.[/quote]

STOP telling people what they should have saved. You have NO idea what their personal situation aside from salary in the door (before taxes) is. [/quote]

This is a fake family that the PP (maybe you) made up.  There is no personal situation, but if they were real and these were the real facts they would have had plenty of money to make choices with and if their circumstances were unusual they could appeal.  You are mad that the simple calculation meant to show that a very good income leaves no room to contribute to a child’s education shows no such thing.

You appear to want the government to price regulate private colleges or make all private colleges public, I am not sure which.  Maybe you are mad something expensive to provide is expensive for the purchaser and the standard of “need” isn’t one you agree with.  I am not sure how you think you were wronged by the “merit aid” system, which is what we are discussing here.

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