Reply to Speculate please - cost of college 18 years from now

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[quote=Anonymous][quote]Out of earned income? We net $218,000 after taxes and maxing out our 401(k)s. $68K for all other expenses for two people for an entire year????[/quote]

You know, even if it is 75% of your earned income per year, it seems completely ridiculous to complain.  For most people (yes, even in high cost of living areas like DC) 68K is plenty to live on per year for two adults.  The EFC is based on what is left over to live a livable lifestyle, perhaps not the lifestyle you have grown accustomed to.  If living at the level that is far above the level of most of the US is what is necessary to you, yes, you should have planned ahead and saved for this cost.  The government is not subsidizing a luxurious lifestyle.  Why should someone who earns nearly half a million dollars get financial aid when the median income in the US is 50,000?  That indicates a lack of foresight and valuing of education for the past 18 years.  Even if you didn't always make that much money, you probably could have saved [i]some[/i].  Plus with the American opportunity credit, you might get an extra 1-2K, which is something.

Also, it is your choice to max out your 401K.  If you planned poorly for college, you could always, you know, just meet the employer match for four years rather than maxing it out...[/quote]

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