I keep wondering whether we will qualify for any aid. Our HHI is 340K, in a high income area. We rent, don't own our home, but we do own small vacation property worth about 100K. No other assets other than modest retirement accounts and about 150K in a 529 that needs to cover 2 kids. Also no family money--we don't stand to inherit much. So obviously we can't afford full costs at any private or out-of-state college. But will they see it that way?

Donut hole family is cope from people who didn’t save and also just don’t like the price tag. It’s not a real thing.

HHI is $240,000 before taxes. We have some equity in our home, a savings account around $60,000, a small amount of stock in husband's employer, and our retirement accounts. Haven't done FAFSA, but NPCs have had us paying $60,000 at oos publics. That is not something we'd be able/willing to do. We have another child 2 years younger who will also be going to college.

We are fortunate that each kid has a 529, but these wouldn't even pay for one year at a private (or possibly even an oos public).

Our income only jumped recently. In the past we dealt with children care x2 in Boston, high rent plus saving for a house in hcol area, and our own big student loans plus cancer and some job disruption.

The oldest is 2 years out from college, so we're focused on saving more and expecting to cash flow the rest. We've never lived extravagantly but we really have cut back on things like going out to eat and we wont be taking a vacation this year. But the house needs painting and our cars need repairs...its always something.

Looking at in-state or possibly a state school with merit.

Our HHI is $210k. We would have received financial aid from some private schools but, when we ran the net price calculators, it made more sense to choose from OOS flagships that gave merit aid. (Our SAI was approximately 45k.)

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not donut hole; but $475k HHIwith both our incomes—but with more than one kid in college and another as a private HS it feels like it. Not in-state 2 kids at same time in college is $185-195k/year tuition (same college; no aid). 3rd kid $35k HS (last year). It’s more than 1/2 our salaries

What assets/retirement/equity?

Too many. Having a Rental house killed us in the calculations. We would have been better off blowing all of that $ on frivolous things for FA purposes.

Imagine wishing you were broke so you didn’t have to pay for your child’s education. I’d rather actually have so many assets I don’t qualify (which is what I do have.)

Those poors have all the luck!!!

Americas most crazy UMC parents never fail.

We are $300k HHI, and NPC shows well above full pay.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not donut hole; but $475k HHIwith both our incomes—but with more than one kid in college and another as a private HS it feels like it. Not in-state 2 kids at same time in college is $185-195k/year tuition (same college; no aid). 3rd kid $35k HS (last year). It’s more than 1/2 our salaries

What assets/retirement/equity?

Too many. Having a Rental house killed us in the calculations. We would have been better off blowing all of that $ on frivolous things for FA purposes.

Imagine wishing you were broke so you didn’t have to pay for your child’s education. I’d rather actually have so many assets I don’t qualify (which is what I do have.)

What do you consider donut hole? It’s something of a subjective term, even if it’s not meant to be. Our HHI is currently $375k, we have about $380k in 529s, and another $600k in regular brokerage. We have $3M saved for retirement. We live below our means, so that $375k leaves plenty for savings. We can clearly afford to pay for our 2 kids to attend college without any aid. By that definition, we are not a donut hole family.

For the record, I agree we are not a donut hole family. But when you look at the situation subjectively, you would consider where our kids end up - in state or at a private paying full freight? And I know that it’s likely our income will drop significantly before the kids finish college. We’d also like to retire early, be able to help the kids get started professionally, and continue to take care of an aging parent. I think a lot of families in a similar situation may *feel* like a donut hole family, even though objectively they are not.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not donut hole; but $475k HHIwith both our incomes—but with more than one kid in college and another as a private HS it feels like it. Not in-state 2 kids at same time in college is $185-195k/year tuition (same college; no aid). 3rd kid $35k HS (last year). It’s more than 1/2 our salaries

What assets/retirement/equity?

Too many. Having a Rental house killed us in the calculations. We would have been better off blowing all of that $ on frivolous things for FA purposes.

Or if grandparents are still alive and around, send it to their 529, that doesn't count apparently in calculations

Anonymous wrote:

Anonymous wrote:Not donut hole; but $475k HHIwith both our incomes—but with more than one kid in college and another as a private HS it feels like it. Not in-state 2 kids at same time in college is $185-195k/year tuition (same college; no aid). 3rd kid $35k HS (last year). It’s more than 1/2 our salaries

What assets/retirement/equity?

Too many. Having a Rental house killed us in the calculations. We would have been better off blowing all of that $ on frivolous things for FA purposes.

Anonymous wrote:https://www.dcurbanmom.com/jforum/posts/list/1298950.page

OP here,

I saw that after I posted this. A parent whose income counts but who refuses to pay is obviously a different situation. That’s not what I was thinking. It’s not so much a broken system, as it is a broken human being (Dad).

Anonymous wrote:Not donut hole; but $475k HHIwith both our incomes—but with more than one kid in college and another as a private HS it feels like it. Not in-state 2 kids at same time in college is $185-195k/year tuition (same college; no aid). 3rd kid $35k HS (last year). It’s more than 1/2 our salaries

What assets/retirement/equity?

Not donut hole; but $475k HHIwith both our incomes—but with more than one kid in college and another as a private HS it feels like it. Not in-state 2 kids at same time in college is $185-195k/year tuition (same college; no aid). 3rd kid $35k HS (last year). It’s more than 1/2 our salaries

What are the finances you are entering into the NPC?

We are a family who will likely qualify for aid at schools that meet need, but some recent events make it more complicated. So, I have been running NPC’s with various numbers and have been kind of shocked (from my middle class point of view) by how much savings and income we could have and still get aid.

So, now I am curious. For those who anticipate no aid and call yourself “donut hole” families, how much income, savings, retirement, and home equity do you have?