Reply to Financial aid for net HHI of $150K

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Reply to "Financial aid for net HHI of $150K - $200K?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Thanks for this information. Yes, our net income after taxes only is about $200K. [b]Other deductions like retirement contributions, [/b]health insurance, etc. account for about $50,000, so our net take-home income is about $150,000.

Do schools adjust the parent contribution amount differently than what is shown on the Family Contribution Report that we see to account for cost of living in high-cost areas, etc.?[/quote]

If you're maxing out 410ks, schools (and colleges when the kids get older) view that as money you can use for tuition. [/quote]

This is not true. My children receive financial aid and we’ve been told multiple times that the schools view retirement as off limits. Home equity, on the other hand, is factored into FA awards. [/quote]

Most retirement plans are not voluntary so that makes sense.  There is a big difference from someone in this area buying a $400-500K house and a million dollar house on the same income.  [/quote]

No.  Retirement plans are voluntary for most workers.  The exception is if you have an ownership stake in the company.   You can’t be forced to contribute to a 401k plan.[/quote]

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