Reply to What is a "donut hole family"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People who do not qualify for financial aid, but whose real economic situation means they can't afford expensive colleges even if their kids are admitted. They are the families whose kids turn down Carnegie Mellon and take the merit award at Pitt.[/quote]
So why is this a problem? Statistically, it seems highly likely their resources are what enabled their kids to become high achievers in the first place. If they can't afford the tippy top status colleges, what is wrong with being "the best" at what they can afford?[/quote]

Like PP said, some of the colleges are worried about their student bodies getting barbelled and resembling private schools more than the traditional mix that the colleges had. We'll happily pay instate or equivalent OOS, but we're not willing to give up on retirement to send out kids to Haverford. That's fine with us and our kids. Whether or not these schools want a mix of LMC and Poor and very upper middles class and upper class with nothing in between is another question. [/quote]

Same. Yes, we could stretch for it by compromising our retirement or pulling out home equity but I just don't see the value of these $70K+ colleges no matter what name is on the diploma. One kid happy at VT and the other is looking at mostly LACs that give merit or would like W&M in-state. Totally fine with those options. I had to make the same trade off when I went to college in the early 90s.[/quote]

Agree! I can afford 80k per year but I can’t let myself pay that much for a college degree. I posted about this here and was harassed by most posters regarding my lack of understanding about the college experience and how much better options and life an 80k college can guarantee versus a state school. So thank you for your post. I have friends who are donut hole families but somehow took out loans to send both kids to 80k /year schools (not Ivies). I know posters will tell me to MYOB etc. but its still shocking what people will do for so called prestige. [/quote]

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