Reply to Am I screwing us over for financial aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]For those who are currently in the middle of this (kids applying to colleges/ financial aid or with current college students), tell me your thoughts.  DH is a gov employee (makes about $175,000), and I started out as a biglaw attorney but then significantly downshifted to a legal writing role for lower pay ($50,000) for many years while my kids were young.  I've gone back to biglaw as college comes closer (first kid will go in 2 years) to rack up our savings.  If we keep grinding, we could have enough to send both kids to any school they choose.  However, I HATE my job, and it costs me quality time with my family.  I've begun wondering if we'd stayed in a much lower income bracket ($225,000 combined income vs. $500,000+), if we may have qualified for aid at some of these more expensive private schools that are now offering essentially to give aid up to a family's demonstrated need.  Am I wrong in second guessing? [b]Is $225,000 still too much to actually garner any aid?[/b] If we'd gone that route, we would have had essentially no savings aside from $150,000 per kid in 529 accounts and our retirement savings.  I'm just dreaming of my old job and the better balance it gave me with family and worrying I gave up that life for essentially no benefit.[/quote]
It depends on your “other” assets. We have a HHI less than half of that $225K and received no financial aid. [/quote]

+1 The "with typical assets" clause will render many families ineligible for aid. So the family earning $175 with $400K in savings isn't getting aid.

OP, run the NPC for any schools your kid is interested in. You can change the numbers for different scenarios to see if it would make a difference. That said, I think you should figure out whatever job situation makes the most sense for your family and let the FA chips fall where they may. [/quote]

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