Reply to Do most people pay for college out of pocket?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are upper middle class, so not insanely wealthy like doctors, investment bankers, and executives. But the price of tuition is baffling to me. I don’t know how anyone can pay for out-of-state or private schools. It’s pocket change for the wealthy, and if you are low-income enough you get aid. Middle class parents have it the worst.

I wish we lived in Florida or Georgia. Those schools are cheap and provide solid education![/quote]

Middle class do just fine with financial aid at most private schools. You are likely upper class. [/quote]

To qualify for financial aid, HHI has to be below $100k, $150k, somewhere in that ballpark. $200k-$300k HHI disqualifies you from any type of finaid. I wouldn’t consider 300k to be upper class.[/quote]

Why do we have to keep having this conversation? Nationwide, $300k in income puts you in the top 3.8%. Even in Maryland, it puts you in the top 7%.  Median income in Maryland is $91k.

Are you really arguing that people who make $300k a year shouldn't be expected to save for college?  $300k is $25k per month gross, say $18k net. Any money invested in a DJIA index fund in 2005 would have returned over 10% (average annualized return). If you'd saved $400 a month in a college fund for 22 years, you'd have $360k. Someone starting today could get to $380k with $800 a month going into a money market at 5%. [/quote]

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