Reply to Finacial aid at 350K HHI with high mortgages and nanny

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[quote=Anonymous][quote=Anonymous]So much about financial aid is unfair.  We have always had a relatively modest HHI by DCUM standards (no more than $150-160K), but still have managed to save for retirement and college by not living extravagantly.  Thanks to many years of saving (and a few bull markets), we have enough in our accounts that I doubt we'll ever qualify for financial aid.  Instead, when the kids get to college, we will be taking a $50-60k a year hit to our savings, while those who had much higher incomes over the years but lived high on the hog will be paying a lot less.  I feel more comfortable knowing that we have planned for our future, but I still resent that my tuition has been pushed higher in part to allow for aid to those who have been totally irresponsible with their spending.[/quote]

I totally agree with this and have experienced it many times in life ... for example, when the housing boom went bust, a lot of people who bought houses they never should have were getting sweetheart loan forgiveness deals and so forth.  Our family bought a much smaller house, financed it responsibly, and ... gasp ... made payments until we owned it.  Now that we own our home, we would never get FA for private or college.  But we wouldn't apply for it either ... southern pride would never allow me to ask others to pay for something when I could do it myself.  So despite the sneaking feeling of unfairness that occasionally creeps into my mind, I mostly feel comfortable with my own decisions.  I also no longer donate to FA because I have seen too many instances of folks who make more than us making different choices.  [/quote]

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