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College and University Discussion
Reply to "Families making $200k - $400k"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]~300k agi, 90k in 529 and ~100k in savings with 1/2 of mortgage paid, no aid (0) from all 6 T20 schools DC got admitted to. Perfect stats and awards didn't matter. [/quote] Isn't this what you expected?[/quote] Well, if you take all the taxes out, mortgage payment, food and other spending, you'll not remain with 90k+/year that the top schools charge. Do you sell the house to pay for or use 401k miney? No. So, only option are loans that are at more than 9%now. Families making between 200 and 300k and not much in savings are in the worst position. Pay full without really affording.[/quote] That is really greedy to live in a million or more house and expect aid like you are low income. We paid 400k so we could easily save and pay for college. Others should not have to support your lifestyle spchoucces and selling the house is an option. [/quote] Selling the house is indeed what the financial calculations call for at most schools, but they don’t want to spell it out because most families (and indeed, most teens, if the choice were theirs) would then choose less expensive schools. [/quote]
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