Reply to making $250-$400K in NW DC and paying for college out of Wilson High school or similar

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Reply to "making $250-$400K in NW DC and paying for college out of Wilson High school or similar"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Here's the problem:

1) If you are medium HHI and living in a less expensive area, you aren't expected to make any sacrifices to send your kid to a private.

2) If you are high HHI and living in a high cost area, you are expected to make tangible sacrifices to send your kid to private.  And you are expected to subsidize #2.[/quote]

Edit: [b]subsidize #1[/b].[/quote]

How so?[/quote]

This:

[quote]"People do this at YOUR income level by saving 2/3 up front over the course of 18 years and cash flowing the rest, using loans as a last resort."[/quote]

Why should the above quote only apply to the high HHI folks?  Why is it that only the "YOUR income level" folks need to be doing this?[/quote]

? Because lower income folks will qualify for financial aid? This is a weird thread.

Financial advisors recomend saving 4 figures a month per kid for college for a reason, you know. How did this escape your attention?[/quote]

There are plenty of ways in which both #1 and #2 could live normal lives for their location and have little left over each month.  There is an expectation here that only #2 should be making sacrifices.[/quote]

This is insane. Yes of course high HHI folks should be expected to pay full freight! Typically those who get full or close to financial aid have families that make less than 120k. OP makes at least double if not triple or more. She should have been saving, end of story. She knew this expense was coming up. Sounds like she wants her dd to go to an expensive school (Smith) so yes, to make it doable she should be saving around 1k a month for that one child. How else can you make it work without loans? [/quote]

You are assuming that all people who are expected to pay full freight have the ability to save the amounts that are expected.  If they live in high cost areas, pay high mortgages, pay for private schools vs publics, etc...they might not.  "Should have been saving" makes plenty of sense if they have anything left over.[/quote]

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