Reply to What is a "donut hole family"?

Forum Index » College and University Discussion

Reply to "What is a "donut hole family"?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I feel like a broken record on this thread. Before you assume you don't qualify for need-based aid, do a net price calculator. A non-school specific non-profit one is available here: https://myintuition.org/quick-college-cost-estimator/.

For most (all?) of the most selective schools, families with HHI of up to and even in some cases OVER $200k ARE receiving need-based financial aid. The families who are not are the families with significant non-retirement assets (savings or investments). If someone tells you they aren't receiving need-based aid with a $180k HHI income at one of these kinds of schools, they have big $$ in accounts somewhere (EXCLUDING retirement...financial aid does not consider retirement $).

There are persistent rumors out there that families making $100-200k are not receiving financial aid when it's not the case at the most-desired schools. I don't know why this misconception is so ubiquitous. [/quote]

To drive this point home, just did the calculator -- for a family with $250k HHI, $200k in savings, and $200k in non-retirement investment funds, they WOULD STILL RECEIVE FINANCIAL AID AT BROWN. ($13k in financial aid a year, no loans)[/quote]

At 250K a year there is no excuse they aren't saving more except for rare situations.[/quote]

It wasn't $250 a year when my kids were born. It's $250,000 NOW. When my kids were born, we were making $105,000 a year as a family. (Nurse, public defender) DS1 had medical problems that were expensive.  We funded a bunch of therapies out of pocket. We had our own student loans to pay.  We bought a modest house in a good school district and sent the kids to public schools. We bought used Hondas and drove them until the wheels feel off.  We elected to fully fund retirement, and that was pretty much all the savings room we had.

[/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