Reply to FAFSA - is middle-class waste time applying?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If my income was $300k I would have zero problems being able to pay for my kid to go to an expensive, private college. You need a dose of reality[/quote]

What is your income? Because you’d have even less difficulty paying for your kid to go to an expensive private college if your income was half that.[/quote]

DP.  I was thinking the same as the PP.  Our income IS half of that. Some schools give us FA and some don't.  My kid worked very hard to qualify for merit at the schools where we don't get FA and to be competitive as an applicant at the schools where we do. We saved enough on that earning level to pay 50k/year with a few fed loans and some pay-as-you-go for each of 2 kids. If we can do that, there is no reason someone earning twice what we do can't pay 80k. We started saving when kids were little, and live economically,  even though we live in a high cost of living area. (Just because someone makes double what we make, doesn't mean they have double the COL -- their costs are probably similar to ours). Someone on 300k can afford this, but there should be more info out there when kids are born (or starting preschool or starting kindergarten) to start saving.[/quote]

It’s not about savings, it’s about actual cost. If your income is $150k, Harvard COA is capped at 10% of HHI, or $15k. If you make twice as much, Harvard costs five times as much. [/quote]

That's not accurate, and who would base costs on getting into Harvard? As I said, we counted on spending up to 50/55k per kid and make 150K. If we can do that, someone on 300k should be able to save for 80K.[/quote]

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