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College and University Discussion
Reply to "Newly donut-hole family"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] Yep not F--King okay. Why should people both richer than my family and poorer than my family be able to afford it but not us in the doughnut hole. It is BS. I have twins at a local top private. One has a good shot at Ivy and the other a well known top 25. That is 150K a year by time they go. One more kid two years behind them. So for two years, I am expected to pay $225,000 a year? WTF? And we get discriminated anyway because we are Asian. Net worth is close to $2,000,000 (1.85 million). Income is $300,000. Of that net worth 1.1 Million is in retirement accounts. So I don't have the money to pay $900,000 for three private schools. We have about $90,000 each for the older two and around $50,000 for the younger one. Another about $160,000 from selling two rental properties (doubly screwed because a lot goes to taxes--this is what the net is). We can get to around $400,000 total and can easily pay for in state in Virginia. But, why should my kids not have the right to go to the top schools? Because I am upper middle class? Those richer than us can do it and those poorer than us can do it. The whole system is out of order as Al Pacino said in Justice for All. ^^^ Touche'! This whole "system" needs to crash and burn, so hopefully, a better more equitable & meritorious one can 'rise up' to replace it. However the 'demand' for the top schools is so much greater than the 'supply' hence the change may not happen in our lifetimes. [/quote] :roll: The hole donut hole “concept” is just people who make plenty but can’t save and overspend to have a reason to complain. [/quote] It is a fact that the cost of college has outpaced inflation by a long shot. The reason that the term "donut hole" came into existence and usage is that the rise in tuition costs has caused elite schools to become out of reach to families who are in a certain upper middle class income bracket. You are not entitled to your own facts.[/quote]. My facts are that we are in the bottom of the “donut hole” and yet we managed to save for our children’s college education. [/quote] Those are your specific facts. The increases in college tuitions have changed dramatically in the last few decades. It has made it much more difficult for upper middle-class families to pay for college. That is a fact. [/quote]
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