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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why in the world would you expect to get financial aid when you make $260,000 a year???[/quote]

Most people don't have an extra $6,000/mo that they don't already have going towards something else.  Being expected to come up with that kind of money is daunting.

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Most people don’t need to pay $70,000 a year for a kid to go to college either. There are plenty of less expensive options.[/quote]

Most people don't pay $70,000 a year even at colleges with $70,000 price tags.  Most people receive some level of financial aid.
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But people with HHIs like OP's family's income do have to pay $70K/year - or look elsewhere.[/quote]

That's why people call the general $150k-$300k range the donut hole.  Obviously there are other colleges, but that's not the point.  [b]The point is that a certain category of college is accessible to the poor, LMC, and the rich, but not to UMC.  
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My parents' income dropped from $75k to $35k to temporary disability while I was in college so, in the grand scheme of things, I'll take having to stretch to pay for my DCs' college and limit them from the more expensive private colleges but it seems disingenuous to pretend the donut hole isn't a thing.

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[b]And that is OK.[/b] No one is entitled to Harvard, or an Ivy, or whatever other elite school he/she fancies. I promise you, your child will be just fine at any one of the 98% of schools that don't cost $70k.[/quote]

Reasonable people can and do disagree about whether it is "ok."

Regardless of your view on that, the fact is that a generation ago, if you could get into a given school, you could make financing it work.  That is no longer true.[/quote]

Yep not F--King okay.  Why should people both richer than my family and poorer than my family be able to afford it but not us in the doughnut hole.  It is BS.  I have twins at a local top private.  One has a good shot at Ivy and the other a well known top 25.  That is 150K a year by time they go.  One more kid two years behind them.  So for two years, I am expected to pay $225,000 a year?  WTF?  And we get discriminated anyway because we are Asian.  Net worth is close to $2,000,000 (1.85 million).  Income is $300,000.  Of that net worth 1.1 Million is in retirement accounts.  So I don't have the money to pay $900,000 for three private schools.

We have about $90,000 each for the older two and around $50,000 for the younger one.  Another about $160,000 from selling two rental properties (doubly screwed because a lot goes to taxes--this is what the net is).  We can get to around $400,000 total and can easily pay for in state in Virginia.  But, why should my kids not have the right to go to the top schools?  Because I am upper middle class?  Those richer than us can do it and those poorer than us can do it.  The whole system is out of order as Al Pacino said in Justice for All.

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