Reply to 2025 & 2026 donut hole families

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What is a donut hole family?  High income nut no savings?[/quote]

Too rich to get aid. But not rich enough to easily pay $90k a year, especially with multiple kids. Usually live in high cost of living areas.[/quote]

And also made the choice not to save but instead increase their lifestyle as their income increased.  Because even in a "hCOLA" if you have been making $250K for the last 5 years, you could have chosen to save $20-30K/year, and likely for more than 5 years
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I've done that and I'm not separating from this money when we can do college without separating from it. it would be utterly stupid when you have more than one child and are not wealthy. Save, save, don't gift it to a greedy overpriced college.[/quote]

We are full pay (and can easily afford it) but I agree. 
If you could not easily save/cashflow a $75K+ school, then you should NOT spend that much. There are literally 98% of universities that your kid can attend for under $40-50K.  Outside the T30-40, most give excellent merit, especially if your kid had the resume for a T30 school.  You can find great affordable (to you) schools and avoid debt and avoid trashing/delaying your own retirement.

That's how I went to college.  I went to the school that offered me the most money.  Now I was LMC/just above poor, so I got FA and took federal loans.  But I had no choice but to attend somewhere that was affordable.  My parents were not going to sign any loans (and it would have been stupid for them to do that).  
We knew our kids would get no FA and are grateful that we earn that much.  So we chose to start saving early so it was not a burden when college came.

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