Reply to At what income are you unlikely to get any aid?

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[quote=Anonymous][quote=Anonymous]When many of you talk of "aid', you are talking about [b]merit aid[/b] not [b]financial aid.[/b]

When a private school's sticker price is $70k annually all in and you make $200k, $100k saved in 529 and your house is paid off, you may think you should get "financial aid" because $70k is a ridiculous amount of money and may put your other life goals in jeopardy.

It's a $70k Lexus vs the sensible RAV4. Both great cars, but you want the Lexus and you can't believe they aren't seeing your financial situation and giving you "financial aid". The EFC is right - you should be contributing 100%; you just may have to chose the RAV4.

Now "[b]merit aid[/b]" - that's the adjustment you may or may not get because $70k is a ridiculous amount of money. [b]It's the coupon code of higher education.[/b] You aren't getting the code because you can't afford it; it's making it seem reasonable and not putting your other financial goals in jeopardy.

I get so irked when people mix these types of aids. [u]Financial [/u]aid is for families that can't genuinely pay an extra dollar more a year without going hungry or missing rent. Remember the [u]median [/u]household income in Virginia is $58,000.

Signed, 
Someone that works in higher education
[/quote]

Maybe I could buy 3 luxury cars, go on multiple European vacations in 5-star hotels and have ZERO in college savings or investments, living paycheck to paycheck like my neighbor and get full aid :lol: [/quote]

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