Reply to Which private colleges have the best financial aid for donut hole families?

Forum Index » College and University Discussion

Reply to "Which private colleges have the best financial aid for donut hole families?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]or-I think it is great that people save for college via 529s, or family money, or however. But it's a cold hard fact that many families can not save a lot. Private colleges want to fill their classes too. And they do that by making the cost similar or slightly higher than the state schools (for the people who are not wealthy), so the wealthy will pay "ticket" but most will not. My advice is to apply your kid to state schools AND private, I think you will be pleasantly surprised to see that privates are a lot closer in cost to state schools than you ever thought. Many state schools are not a bargain anymore btw.

For all you savers out there, be happy that you figured out a way to save, please don't crap on the non-savers and deem them and their kid's destiny as "state schools bc you didn't save" it  is not the case. Non savers have great outcomes too, non-savers make calculated decisions based on the set of issues they have at the time and many of them have incredible outcomes. Cast a wide net, private/public, and make your decisions after the acceptances but DO NOT be discouraged from applying to "financial reaches." [/quote]

If you are making $200K there is no excuse not to save.  People are acting like an income of $200K is like $50K, which its not.  Life is about choices so if someone is living in an $800K house on a $200K income while the rest of us live in a house under $500K, then, I don't have much empathy as that extra money could have been saved for college.  Its one thing if you cannot due to income or other reasons (SN child, family support, etc) but if you can and choose not to, you are selfish.  Yes, you should apply to both but we are clear that our kids will not take out loans and we will pay fully for a state school and if we can do more, great but we'd rather use that money to graduate school or help with a house.  Plenty of people have great outcomes NOT saving but its not a chance I want to take.  My parents paid for college and it made life easier.  My spouse didn't and had to do military and didn't get his degree till much later and life was much harder.  We want to set up ours well in life and give them the best start we possibly can.  Part of parenting is teaching kids about money and money choices.
 [/quote]

Again, live and let live. Your parents paid for your education. Congrats. You make your choices and I'll make mine. No one is looking for your empathy. If I decide to not save, take vacations, decide to quit my job and  SAHM, decide to take my kids on Euro vacations to teach them history or just eat creme brûlée...it's really not your business. Just don't be bitter if I make 200k, have no savings and COMPLAIN that my kid gets into a selective college for 25K all in. It's not your kid and not your money. Or as I like to say, "not your monkey, not your circus" You live your life and save like your parents did and send your kid to the best school he gets into. I'll be fine.

[/quote]

I don't care what choices you make but I don't want to hear how you cannot afford the college you want for your kids or they want as you were too stingy to save.  And, you can save with a SAHP or even if you choose to travel.  You'll be fine as you can choose not to pay and leave your kids with huge amounts of loans to pay back.[/quote]
Just curious about the amount you think a family earning $200k for the last 10 years should have saved for college. [/quote]  How much was saved prior to that?[/quote]
Let’s say $40k for the first 8 years while their income level was more modest and they also saved for a home and paid off student loans.   Last 10 years HHI of $200k. Would they be easily able to save enough to afford a $75k per year college?  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics