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Reply to "Who are these families with household incomes of $45k or $60k? $70k?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m seeing incomes like this quoted as needed to be this insanely low to get financial aid and certain private scholarships. Who is making these household incomes who also has a 17 year old applying to college? Two Walmart store employees make far more than that even, so I must be missing something. Is there cash being stashed under the mattress?[/quote] I have my own business and I can write off a lot of business expenses and losses. I also have flexibility on the year when we have to show FAFSA (2 years before college application) to have less clients and have less income. We did not put in savings for kids at all and kids were able to get into the top schools (including ivies) with either full tuition aid or aid that covered 70-80% of tuition. We live in large house that is paid off and worth several millions, but FAFSA does not count primary residence and retirement accounts. [/quote] Gross. On so many levels.[/quote]
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