Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

Plus you get the joy of paying for the "scholarships" (magic money) for the kids whose parents decided to work less hard.

Out of current year's income, yes, probably... but saving for 15 years from similar income? Should not be.

Anonymous wrote:This forum repeats this discussion weekly. No one disagrees that college is too expensive. Practically, some of us think the tuition panic makes many greatly qualified students avoid applying to elite colleges because they can't imagine paying the sticker price. Most of the elites do not include student loans in the aid packages and many limit/ignore home equity in their financial aid calculations. There are very few truly low-income students in the elite colleges (far too many very wealthy full-pay). But the self-pity of very successful people earning in the top 10% of incomes is simply beyond me!

Why do families earning $150-250k (in the top 2-10% of incomes) deserve financial aid ahead of others? While I sympathize, I am too dense to understand why you think a family making $75-125k should get less financial aid than yours. Theoretically, we could all live on less than we earn and save more for long-term predictable things like sending kids to college. Someone dollar-cost averaging $500/month since 2000 would have about $250k after taxes and fees - enough to pay for four years of tuition at all the Ivies -- leaving just $200-250/month to pay out of current income for room, board, books, and fees.

Anonymous wrote:It’s really about the middle class donut. Enjoy being a 175k family paying almost full freight and having your payments subsidize someone else’s education.

Anonymous wrote:This forum repeats this discussion weekly. No one disagrees that college is too expensive. Practically, some of us think the tuition panic makes many greatly qualified students avoid applying to elite colleges because they can't imagine paying the sticker price. Most of the elites do not include student loans in the aid packages and many limit/ignore home equity in their financial aid calculations. There are very few truly low-income students in the elite colleges (far too many very wealthy full-pay). But the self-pity of very successful people earning in the top 10% of incomes is simply beyond me!

Why do families earning $150-250k (in the top 2-10% of incomes) deserve financial aid ahead of others? While I sympathize, I am too dense to understand why you think a family making $75-125k should get less financial aid than yours. Theoretically, we could all live on less than we earn and save more for long-term predictable things like sending kids to college. Someone dollar-cost averaging $500/month since 2000 would have about $250k after taxes and fees - enough to pay for four years of tuition at all the Ivies -- leaving just $200-250/month to pay out of current income for room, board, books, and fees.

Anonymous wrote:Turning into yet another "It should change to be affordable for my kid, regardless if that means other kids can't go" discussion.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

Out of current year's income, yes, probably... but saving for 15 years from similar income? Should not be.

+1. If you save even half the cost of a private college you may be able to afford it paying the remainder out of pocket. Our experience was that the top schools are pretty generous with financial aid even for folks with 200k HHI. This was our experience anyway.

That is the opposite of our experience.

Obviously didn’t want your kids that bad

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

Out of current year's income, yes, probably... but saving for 15 years from similar income? Should not be.

That supposes that you are making that same income for all those 15+ years. We make that now, with two in HS and are shoveling as much as we can into college savings, but it's a very recent development.

And, many families who are making that income via two salaries by the time their kids are approaching college would have been spending what they might otherwise save for college to pay for childcare.

I suppose it is possible for income to suddenly jump dramatically, but it seems unlikely in most cases.

I do agree $200K in San Francisco is different from $200K in Omaha, and that can seem unfair WRT housing costs.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

Out of current year's income, yes, probably... but saving for 15 years from similar income? Should not be.

+1. If you save even half the cost of a private college you may be able to afford it paying the remainder out of pocket. Our experience was that the top schools are pretty generous with financial aid even for folks with 200k HHI. This was our experience anyway.

But they take what you saved into consideration. Wish I would have stashed the savings with my sister or parents.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

Out of current year's income, yes, probably... but saving for 15 years from similar income? Should not be.

+1. If you save even half the cost of a private college you may be able to afford it paying the remainder out of pocket. Our experience was that the top schools are pretty generous with financial aid even for folks with 200k HHI. This was our experience anyway.

That is the opposite of our experience.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

I have zero complaints about our $200K HHI (although will note that it doesn't buy what it would e.g. in Omaha, notwithstanding FAFSA's indifference to such distinction), but it is not sufficient to pay full price at a school that costs $70K or more per year.

It is not a matter of "decidedly unpleasant"; it is a matter of "inaccessible."

To attend such a school, one needs to be low-income, middle-income, or in the top 1-2%.

Out of current year's income, yes, probably... but saving for 15 years from similar income? Should not be.