Reply to Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm realizing that the top 50 or so schools are all about $80K+ and none of them offer merit aid, outside of maybe CWRU. 
The rest have 20-50 full-ride scholarships for their most elite students but that's pretty much it for merit aid. 
Then of course there is UVA and W&M which are instate.  And UMD which is ranked just above 50. 
We've in DC so none of these in-states are particularly relevant.

So all this constant chatter about this or that top50 school----are you all paying the $80K/+year sticker price(s)?

College is around the corner for us and I'm realizing that yes indeed, they're all about that much.  Guess I knew that in theory but it's another thing 
entirely to think "huh, they're asking $360K for undergrad.  Are we really going to pay it?"
Sobering. 
Are people really paying it? 
[/quote]

OP, what is the question?  Is the question what other people have in their bank accounts?  Because this question is asked, in one form or another, about each week.

If the question is how to pay for your kid's college, then you look at your bank account, and you decide from there. If you did not save, your kid gets to choose from where you can afford.

Not that difficult to understand. [/quote]

Pick what you can afford.  That number is very different for many people.

Some who make $150K have managed to save $300K+ per kid, others have not.  It is all about priorities and what you chose to do with your money.  If you started at $100K when you had kids and now make $200K, you could have chosen to funnel the majority of those pay increases and/or daycare payments that stopped as your kid grew up, into college savings.  Some do, some don't.   
If you chose not to, then you should have your kid search for merit and pick a school you can afford.

[/quote]

The problem is that if you apply for aid, you may not get aid but the person who didn't save but chose to spend their money will get aid.  That is the problem that I have with the system, it is designed for those who don't save vs. income.  If I accumulate assets they count against me, if I don't accumulate assets then I'm rewarded.  Plus, some jobs, professions and entrepreneurs can hide money better than others.  I know wealthy people who get aid for private HS.  [/quote]

Well nothing large scale can be perfect.  You could choose to not save and hope for more aid for your kids in college.  IMO that is not the best thought out plan, but if you want to try it you could have.    I'm not going to "not accumulate assets" in hopes I might get some FA at college time.[/quote]

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