Reply to Did you folks not do ANY saving?

Forum Index » College and University Discussion

Reply to "Did you folks not do ANY saving?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Aren't most people still working when their kids are in college? I'm saving for both my kids, but I'm also assuming that large amounts of my paycheck during their college years will be going towards paying their college expenses. Why are people thinking they need to have saved the total amount by the time their kids start college?[/quote]

+1. By the time my kids go to college, we're projecting that'll we have saved about half about their college expenses. Which makes it easier to pay the rest from our salaries. If college is $74k a year, half of that is $37k, which is basically what we paid during the daycare years with no savings at all, and when we both earned so much less than we do now. [/quote]

I opted to be a SAHM. I only recently began working. Not sure how we will make it since we are by definition a donut hole family. Seems unfair that our current income is counted against us. Considering staying home, again, until kids are out of college. May make more sense, tbh. Then we can get FA.[/quote]

Holy crap.  Read this again, PP.

You are complaining that it's unfair that your current income is counted against you, when you removed yourself from the workforce for years.  Moreover, you're considering doing it again, so you can get aid?

You aren't ashamed of yourself, typing this out?

Since you went without your income for so long, and apparently comfortable doing so again, you should be able to direct that income entirely to college.  That'll help.

Again, giving low income kids a hand - great.  Giving "aid" to families who decided to not do all they can to pay for college themselves?  No thanks.  
[/quote]

I'm going to go ahead and disagree. I don't think anyone should need to pay the full price for a college education at the levels of tuition being charged today. We are UMC (but not rich; we have no parental help or similar luxuries) and saved aggressively for college. But, that money -or a portion of it- could have been used for many other things. But, we know we can't do that b/c of the price tags and our income will be held against us. It's absurd that people pay such wildly different prices, and so much different aid, for the same education. [b]We saved and we'll be punished for that.[/b]

Yes, I'll say it, I have a big problem with that. [/quote]

You have a problem with making good money, saving it, and being expected to use it for its intended purpose?

You're unhappy because even though you prioritized savings, you'd rather have used that money for other things?

You are unhappy with people getting any aid whatsoever?

This is completely incoherent.  [/quote]

The idea of being "punished" for saving is somewhat overblown: every 100k of savings outside of retirement accounts adds 5k to your expected family contribution to college.  HHI and number of kids in college at a time are the primary determinants of EFC.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics