Reply to High income but 3 kids in college at once- financial aid

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Assume they pay just under half in taxes, and they can pick colleges averaging to 60K per year (maybe student takes loans, gets merit, goes to state schools OOS which are <70K, etc). That leaves about 250-180 =70K for two people to live on after taxes. Isn’t that enough? And that’s only for the 2-3 Yrs that all 3 are in college simultaneously. That said, OP I’m sure your kids can find better deals if desired. State schools are generally excellent. And many privates have some merit aid. [/quote]

Doubtful. My mortgage is 5k and I’m close to their income range. Most people making this much money will have a mortgage above 5k, perhaps 7-8. So literally zero money for utilities, transportation, food, etc[/quote]

This is helpful for understanding, but OP came into high income only recently so probably mortgage isn't as high.  But once the three kids are in college, why do they need a 5K mortgage?  Downsizing is an option.  I agree that college costs are insane and out of control, but OP's situation is not a crisis and there are a number of tradeoffs that can be made comfortably.  [/quote]

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