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Exactly, man. I don’t know why everyone finds this concept so hard to grasp… we’re living proof that it can be done.</p>
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What do you not understand about this? In the system TurtlePhobic described, if someone gets into a school they can’t afford with cash/merit-based scholarships, they can get a part-time job and take out loans for the rest, or choose a cheaper school. The money’s there, for people of all income backgrounds, it’s just not handed to anybody for doing absolutely nothing.</p>
<p>Please explain to me the difference between paying back a $20k loan when your parents make $20k/year and paying back a $20k loan when your parents make $200k/year. Correct answer: there is none! Your parents’ income has absolutely nothing to do with your ability to pay back loans after you graduate from college, since everybody graduates with the same degree, and thus equal earning power.</p>
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I couldn’t give you a specific number, but I’m imagining somewhere in the area of $45k-$60k/year. I’m using it to describe people that aren’t rich and aren’t poor.</p>
<p>Keep in mind that these terms only describe the people earning the salaries (i.e. the parents, not necessarily their kids). Many people (such as October47 and myself) would have the exact same lives whether our parents made $20k/year or $200k/year. When you’re a mature adult, your parent’s income ceases to matter.</p>