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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP,

I think most of the vitriol is aimed at families gaming the system, with high mortgages, fancy cars, vacations and summer camps. Sorry but you can be critical of that but still support FA for folks who truly need it.[/quote]

Yes, like the family I know that is getting FA now. They are richer than God but some bad business dealings have resulted in some bankruptcy action. Now all 3 kids are getting FA. They live a in multimillion $ house and still have pretty nice vacations and fancy cars. But since FA is figured according to your wage this family looks so poor.So yes, I'm a little peeved that they get FA and I don't.  From what I'm able to add up they have 20x the assets that we have. Call it sour grapes if you will but it doesn't seem fair. Just saying.[/quote]

I am sorry, but either you are leaving something out or spreading an urban myth. I have filed my PFS for many years asnd am very familiar with the asset and income tabulations used to determine " disposable income". Any property above and beyond one single residence is deemed deemed a disposable asset , as is a second car, as is a 401K, as is equity in your primary residence provided that your debt to income ratio qualifies you for a loan ( they calculate that as well). So, if someone has a vacation house or inherited a home from parents and it is valued at 1 million, THAT is considered 1 Million in cash that can be used to pay tuition. If one has a 401K w/ 120k in it, that is 120K in cash ( less penalty) that can be used to pay tuition. If the blue book value of 2nd car is 20k, that is 20K in cash....you get the idea. Take it form people who are familiar with the process, wealthy people do NOT get a penny of FA and they tend to withdrawl their kids before liquidating their assets from what I have seen since 2008.[/quote]

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