Reply to Do you make $400,000 a year but feel broke?

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[quote=Anonymous][quote=Anonymous]So, let me understand this. The $400k HHI family with four kids (tuition bill of $120k/year) should get some financial aid to help. Meanwhile, my family ($150 HHI, 1 kid) gets no financial aid and we are just fine. That $400 HHI family can pay full freight for four tuitions and STILL have more money coming in than my family, and yet you think they need FA? That's just wacky. Pay for what you want most passionately first (school, saving, or house) and then allocate what you have left. For my family, we allocate in that order, and so have a fantastic school, reasonable savings, and a little home in a cheap 'burb. Priorities.[/quote]
Without running it through any calculators, I'm going to estimate that in those two examples, the first family has $250k of after tax income, and you'd probably have about $120k?  In addition to tuition, the first family also has the expenses associated with three additional kids (including housing costs, as the small townhome you can make work doesn't work for them).

If both you and they were attending public, they'd surely be better off financially, and be saving more than you.  But if we deduct $30k from your budget and $120k from theirs, you'd definitely be living more comfortably and saving more.  So yes they'd absolutely be more deserving of some small aid grant than you IMO.[/quote]

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