Reply to If college is so expensive ... why don't more families get need-based aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]At Harvard: 55% of our undergraduates receive need-based Harvard scholarships.

Are people taking out massive loans or is everyone just actually RICH?[/quote]

Those at Harvard who don't get Need based scholarships are typically making more than $200-250K/year.  So yes, if you make more than $250K, it is not unreasonable to assume that you could/should have saved for college.

THe T50 schools/ones that cost $75-90K+/year typically are filled with kids whose parents make $200K+, at least 40-50% of the student families fall into that at most.  It's been that way for decades.

And yes, if you make $250K+, it is reasonable to assume you can save for college.  You may not choose to save for $90K costs, but certainly for in-state ($30K now).  [/quote]

250k a year pre tax with a family is not that easy to save $400k per kid. It’s just not. The end result is these families of mid level professionals or civil servants don’t get to go to private college. The poor kids do alongside the hedge fund kids. [/quote]

Also, I didn't make $250K until 1 year before my kids went to college.

So it's not like we were making $250K for 20 years.[/quote]

So then what were you making 20 years before?  Because you could have taken 50-60% of your "increased salaries over those years" and used them to save for college, instead of increasing your lifestyle.  It's a choice.  Many people do just that.  They go lean for the daycare years, then dump all of that (often $2K+/month) into college savings.  [/quote]

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