Reply to Harvard Will Make Tuition Free for Students of Families Making Less Than 200K

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Despite everyone thinking that all Harvard alums are rich, I guarantee you that there are many of them who make just above $200k and live in expensive metro areas. So this does nothing for them as the cost of tuition keeps going up 5% a year.

If you have a big mortgage and high property taxes (both required to live in a decent school district, unless you are paying for private), some money saved but not a lot, and are making $250k-$300k, you are hosed.

No one is crying for us, but there is a growing donut hole of those too rich to qualify for these programs, but not rich enough for paying almost $100k a year to be easy.

This is a performance by Harvard. Typical.[/quote]

Big mortgages are a choice.  They should be looked at.  &200k is more than many of us make and we still manage to save.  [/quote]

The cost of living somewhere with good schools is high. Whether it is rent, mortgage or whatever.

Let's say you took out loans to go to Harvard then took out more loans to go to med school. Had a kid near end of residency at age 30. Good practice but nothing extravagant - $250k HHI. Paying off loans until your kid is well into elementary school then finally start to save a bit. Live in a nice town with decent schools but nowhere fancy, but in a major metro area with high home prices/rents and taxes. You will qualify for little of any aid but paying that tuition, especially if you have multiple kids, is very difficult.

Setting these arbitrary cutoffs where there is such a binary is silly. But it makes for great headlines.[/quote]

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