Anonymous wrote:Our HHI is between $140-160 each year. We have told our children they need to go to a trade school as we can’t afford tens of thousands of dollars for college. Our first is entering an apprenticeship program in plumbing, my 19 DD is entering a trade school for welding and I have one more child in high school. I have a feeling he will enter the military when he graduates. My children are happy.

However, we have lost many friends who viewed this as a “lesser” route and no longer wanted their children to associate with mine.

Anonymous wrote:Our HHI is between $140-160 each year. We have told our children they need to go to a trade school as we can’t afford tens of thousands of dollars for college. Our first is entering an apprenticeship program in plumbing, my 19 DD is entering a trade school for welding and I have one more child in high school. I have a feeling he will enter the military when he graduates. My children are happy.

However, we have lost many friends who viewed this as a “lesser” route and no longer wanted their children to associate with mine.

Anonymous wrote:Our HHI is between $140-160 each year. We have told our children they need to go to a trade school as we can’t afford tens of thousands of dollars for college. Our first is entering an apprenticeship program in plumbing, my 19 DD is entering a trade school for welding and I have one more child in high school. I have a feeling he will enter the military when he graduates. My children are happy.

However, we have lost many friends who viewed this as a “lesser” route and no longer wanted their children to associate with mine.

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Anonymous wrote:A lot depends on assets. Our income is low but assets are high and we got nothing.

In every marketing line that said, “95% of families making under 150k pay 0 in tuition”, we’d say .. we’re the 5%!

This. And in markets like DC where housing value has risen rapidly, families who have owned their home for a while will be seen as having a lot of home equity they are expected to tap for college. At higher ranked schools we got some aid but still the cost was generally $60k+. Not what we considered in budget. What did fit for us (<$40k) was in-state publics and privates below the USNWR T50 that were generous with merit aid.

Your student needs to be a superstar in order to get generous merit at T50-100. We found merit so COA ends up at $20-$23k at much lower ranked schools.

Some colleges have said they'll announce merit in December. Makes me think they're waiting for the FAFSA before making an offer.

Can you give me some examples. I have a junior and we’ll be trying to go for merit.

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Anonymous wrote:Are families with HHI $100-200k still considered donut hole families or are they eligible for more FA these days?

What's the most prudent plan for affording college? Instate? Merit? Other?

Open and regularly contribute to a 529 when you start trying to conceive the college student. Seriously.

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Like another poster, our income is so low that we'd qualify for financial aid, but our assets are high, so we don't.

I filled out the FAFSA and CSS anyway. DS got merit aid.

If your assets are high, aren't they generating a decent amount of interest and/or dividends (or rental payments if properties) for you? That's counted as income for tax purposes.

I don’t have very many individual stocks w dividends and I picked etfs that don’t throw off income. I have mostly growth stocks so I have appreciation but no taxable income.

But it is assets. You are expected to use them for college. Up to you if you do or not. If you don't want to, then find a school you can afford.

our retirement system is set up in a way that I am limited in what I move into retirement by my low income. And because in my 20 and 30s I flipped two properties (not earned income), I have most of my assets growing outside of retirement.

"But it is assets" I'd be 100% good with colleges looking at ALL your assets. Home, car, boat, retirement, vanguard account -- all of it -- and taking a percent. But I dont know why my money isn't considered retirement savings just because it's in one vanguard account and not another. I'm 52. That IS my retirement.

I dont understand why anyone's home is shielded either. WE could all borrow against that. Factor it all in and take 3% of everything.

College is not mandatory and a luxury. If your parents cannot or refuse to pay, you don't go o take loans. Sounds like you are stingy and selfish. You own an expensive house, boat and other stuff and you think someone else should fund your children's college?

Nope. I don’t own any of that. But guess what. A boat isn’t counted. Your expensive house is sheltered. Your stuff doesn’t count and neither does your retirement

I’m saying COUNT IT ALL

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Anonymous wrote:A lot depends on assets. Our income is low but assets are high and we got nothing.

In every marketing line that said, “95% of families making under 150k pay 0 in tuition”, we’d say .. we’re the 5%!

This. And in markets like DC where housing value has risen rapidly, families who have owned their home for a while will be seen as having a lot of home equity they are expected to tap for college. At higher ranked schools we got some aid but still the cost was generally $60k+. Not what we considered in budget. What did fit for us (<$40k) was in-state publics and privates below the USNWR T50 that were generous with merit aid.

Your student needs to be a superstar in order to get generous merit at T50-100. We found merit so COA ends up at $20-$23k at much lower ranked schools.

Some colleges have said they'll announce merit in December. Makes me think they're waiting for the FAFSA before making an offer.

My 26ACT/3.5UW/no APs attended a school ranked in the 80s. Got 1/3 tuition merit. Had that offer from another similarly ranked school as well. Never paid more than $40K/year. Had they had a 30+ACT would have gotten 50% tuition and would have paid $32/33K/year only.
You don't have to be "a superstar" to get decent merit.

Would love to hear what schools these were and if this was a recent experience.

Marquette and Gonzaga . Got 70% of tuition in merit at Seton Hall and Creighton, so cost would have been $30K for us at both. This was 2019 and all of those schools still offer excellent merit. Now my kid had well rounded ECs---and good volunteering, so that type of stuff really appeals to Jesuit universities. most kids get some merit at all of these schools---nobody pays full price.

+1 my daughter had a generous offer from Scranton, another Jesuit college. Well-rounded, volunteer, 3.7, a few AP, part time job, sports.

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Anonymous wrote:A lot depends on assets. Our income is low but assets are high and we got nothing.

In every marketing line that said, “95% of families making under 150k pay 0 in tuition”, we’d say .. we’re the 5%!

This. And in markets like DC where housing value has risen rapidly, families who have owned their home for a while will be seen as having a lot of home equity they are expected to tap for college. At higher ranked schools we got some aid but still the cost was generally $60k+. Not what we considered in budget. What did fit for us (<$40k) was in-state publics and privates below the USNWR T50 that were generous with merit aid.

Your student needs to be a superstar in order to get generous merit at T50-100. We found merit so COA ends up at $20-$23k at much lower ranked schools.

Some colleges have said they'll announce merit in December. Makes me think they're waiting for the FAFSA before making an offer.

My 26ACT/3.5UW/no APs attended a school ranked in the 80s. Got 1/3 tuition merit. Had that offer from another similarly ranked school as well. Never paid more than $40K/year. Had they had a 30+ACT would have gotten 50% tuition and would have paid $32/33K/year only.
You don't have to be "a superstar" to get decent merit.

Would love to hear what schools these were and if this was a recent experience.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A lot depends on assets. Our income is low but assets are high and we got nothing.

In every marketing line that said, “95% of families making under 150k pay 0 in tuition”, we’d say .. we’re the 5%!

This. And in markets like DC where housing value has risen rapidly, families who have owned their home for a while will be seen as having a lot of home equity they are expected to tap for college. At higher ranked schools we got some aid but still the cost was generally $60k+. Not what we considered in budget. What did fit for us (<$40k) was in-state publics and privates below the USNWR T50 that were generous with merit aid.

Your student needs to be a superstar in order to get generous merit at T50-100. We found merit so COA ends up at $20-$23k at much lower ranked schools.

Some colleges have said they'll announce merit in December. Makes me think they're waiting for the FAFSA before making an offer.

My 26ACT/3.5UW/no APs attended a school ranked in the 80s. Got 1/3 tuition merit. Had that offer from another similarly ranked school as well. Never paid more than $40K/year. Had they had a 30+ACT would have gotten 50% tuition and would have paid $32/33K/year only.
You don't have to be "a superstar" to get decent merit.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A lot depends on assets. Our income is low but assets are high and we got nothing.

In every marketing line that said, “95% of families making under 150k pay 0 in tuition”, we’d say .. we’re the 5%!

This. And in markets like DC where housing value has risen rapidly, families who have owned their home for a while will be seen as having a lot of home equity they are expected to tap for college. At higher ranked schools we got some aid but still the cost was generally $60k+. Not what we considered in budget. What did fit for us (<$40k) was in-state publics and privates below the USNWR T50 that were generous with merit aid.

Your student needs to be a superstar in order to get generous merit at T50-100. We found merit so COA ends up at $20-$23k at much lower ranked schools.

Some colleges have said they'll announce merit in December. Makes me think they're waiting for the FAFSA before making an offer.

My 26ACT/3.5UW/no APs attended a school ranked in the 80s. Got 1/3 tuition merit. Had that offer from another similarly ranked school as well. Never paid more than $40K/year. Had they had a 30+ACT would have gotten 50% tuition and would have paid $32/33K/year only.
You don't have to be "a superstar" to get decent merit.