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Reply to "Recommendations for Funding College"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We’re you not making over $150,000 until very recently? If you didn’t want to save for college, then you either need to take parent plus loans or look at less expensive schools. [/quote] No, we’ve been making quite a bit more than this for some time. We have clearly underfunded our 529. Too late to fix it now and, honestly, we didn’t realize until just a year or two ago that many colleges don’t offer merit-only-based scholarships. There must also be a demonstrated financial need. DH grew up dirt poor and received a full scholarship to a T20 school and then a full ride after through to a Ph.D. I went to a cheap in-state school. But…we ran multiple college financial aid net price calculators and even with our below-par 529 balances, we’re told our net price is whatever the college charges and that our affordability is more than double the actual $80K cost. So, sure seems like the colleges think we can easily afford to send our kids there. Just wondering what levers they’re expecting us to pull?[/quote] Ok, so your husband got a cheap education and got a good job as a result. Now he needs to pay full price for his kids to go to school. I can’t believe you thought you’d be able to solve this problem with merit aid. Plus merit aid means your kid is going to a school that they are overqualified for. You make 400k a year. Prioritize education. No one else should be paying for your kids educations just because you didn’t plan well.[/quote] +1 How is it possible to make so much money and be so clueless?[/quote]
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