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College and University Discussion
Reply to "What is a "donut hole family"?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People who do not qualify for financial aid, but whose real economic situation means they can't afford expensive colleges even if their kids are admitted. They are the families whose kids turn down Carnegie Mellon and take the merit award at Pitt.[/quote] But can’t they/don’t they take out loans to pay the tuition?[/quote] A family earning around 250k is not going to take out loans to cover the 50k a year difference in cost between publics and privates for multiple kids unless they are utterly terrible with money [/quote] What about student loans? Kids can payoff later? Why won’t donut hole families go for that option? Each kid takes out 50-60k loan per year to cover the cost of college?[/quote] Our DC couldn't get loans. They were all Parent Plus which would be in our name anyway.[/quote]
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