<p>Census data says median family income was $50,020 in January.
Economy</a> improves...incomes don't - Economy </p>
<p>I ran this information through the Minnesota Office of Higher Education EFC Calculator and got a Federal EFC of $4,221. Yikes ... pin money for most of us. And that's at the median. What proportion of university enrollment is kids from families below the median (i.e, $50.020 annual family income)?</p>
<p>Great question. I know a few families at that level, and frankly it’s catch-as-catch-can community college courses that are very geared towards a specific employable thing (like being a physical therapist aide or dental hygienist, that type of thing). It just isn’t part of their world except insofar as it serves as job training. They look at me / my husband and the choices we’ve been able to make for our kids, and I don’t get a real sense that they are jealous or longing for their kids to be able to go and have the traditional four-year college experiences my kids are having; indeed, they’re surprised that S lives on campus “when we only live 45 minutes away” and are kind of horrified that my D goes to school halfway across the country (“how can you let her go away from you?”). The “prestige” that is so often bantered about here on CC is pretty much lost on them; the most they know is that some schools are “really good schools” and that’s about it; that list only loosely corresponds to the USNWR or similar list. Just a different world.</p>
<p>$4,200 is “pin” money?
When my oldest was a freshman at a private school our income was about $50,000. But since we had to fill out PROFILE, our EFC sure wasn’t $4,221.</p>
<p>Thing about kids from more challenged backgrounds, is their school systems are often just as stretched. Students may not have college in their plan till perhaps senior year. Parents may feel threatened by kids wanting to attend college, or at the very least not have savings for them to do so.
Schools that meet 100% of need are much appreciated- even though only the most competitive ( academically) students will benefit.</p>
<p>My EFC is marginally above zero, and I got a likely letter from the University of Chicago. That said, had I been rejected from all the ivies/top schools I applied to (all of which are full need, need blind, and have low or no loan financial aid policies), financing college would have been very, very difficult.</p>
<p>It’s unfortunate that $50K is considered lower income!</p>
<p>It’s hard to put everyone into neat buckets. Our family might fit into such a category as we only have one income, but we also saved quite a bit for our kids’ college education, and our EFC is much, much higher.</p>
<p>I also know many families that would be considered high income, but their kids are going to community college.</p>
<p>the $50,000 figure you cite is for household income, not family income. households include all kinds of people (like myself) whose income is of little relevance when discussing the average family incomes of say, high school seniors. </p>
<p>$70,000 is probably a more realistic number in this case, as median family incomes are above this level for all working age groups starting at 40-44, though the presence of childen being raised by individuals other than their legal guardians would likely depress things somewhat.</p>
<p>Pell Grant eligibility starts somewhat below median household income and goes downward on the household income scale.</p>
<p>Some well known schools with relatively high percentage of Pell Grant receiving undergraduates (from [here](<a href=“http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/national-universities/economic-diversity-among-top-ranked-schools]here[/url]):”>http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/national-universities/economic-diversity-among-top-ranked-schools)):</a></p>
<p>37% UCLA
36% Berkeley
26% Columbia
19% USC
19% MIT
19% Emory
17% Stanford
17% Harvard
17% Chicago</p>
<p>Of course, some schools in other categories have higher percentages:</p>
<p>74% Vaughn College of Aeronautics and Technology
67% Baker
67% Blue Mountain
64% College of the Ozarks
61% Embry Riddle Aeronautical
58% Tuskegee
58% Warner Pacific
58% University of the Southwest
55% Chapman
55% Northwest Christian
51% Bethel
50% Southwestern Adventist</p>
<p>My family income was poverty when I first started college, now we’re at about $36k with about $7k or so of that being mine.</p>
<p>Kids in my class go to tippy to schools (ha. It happens but not too often), where the merit money is (my path… Along with multiple jobs and some loans), or part time while working full time.</p>
<p>Yes, many of them go to college and in some cases, even private schools prior to that. It’s all about prioritizing. Putting education ahead of vacations, concerts, the frivolous. Keeping your grades up so you can get into the schools that give great merit aid in combination with Federal Aid. It might be more work, but if they’re willing to put the work in, then yes, a low income doesn’t negate college at all. Having a low income doesn’t necessarily mean a family is doing without. In some areas of the country 50K is a very good income.</p>
<p>A very good income to me means being able to afford suitable housing in a community with good schools, in a community that provides for infrastructure like road upkeep & amenities like theatre & the symphony, vehicles that run more days than not. Being able to afford health care and insurance rather than worry that a root canal or a chronic disease would wipe us out. Quality food to feed my family, and enough money to set aside for savings, retirement and a modest vacation every year.</p>
<p>Is there really a place in the US where this is possible for $50,000 ? Please tell me so I can move there.</p>
<p>There are PLENTY of places around the US where you can do just fine on $50K/year or less. Heck, move an hour away from where you live now, for most people, and your salary needs decline dramatically. People with East Coast “addresses” or “Pacific Northwest” addresses post about the incredulity of living on $50,000 need to realize you are living in some of the most expensive areas in the country.</p>
<p>Here is a link to a pdf from Realtor.com that shows median housing values by area:
<a href=“http://www.realtor.org/wps/wcm/connect/210258804a1865779a1aff7f116f4bb7/REL11Q4T.pdf?MOD=AJPERES&CACHEID=210258804a1865779a1aff7f116f4bb7[/url]”>http://www.realtor.org/wps/wcm/connect/210258804a1865779a1aff7f116f4bb7/REL11Q4T.pdf?MOD=AJPERES&CACHEID=210258804a1865779a1aff7f116f4bb7</a></p>
<p>There are plenty of options for housing that is more than affordable on $50K/year. There are places all over the midwest, for example, where $50K is far above “middle class”.</p>
<p>NewHope-I am sure you didn’t mean to come across sounding arrogant but that is exactly how your post reads.</p>
<p>I do realize Puget Sound area is expensive, and our school district is in sad shape & we csnt keep up with our roads! However with chronic health care issues it helps to have medical services available that can be utilized with public transportation.
Could you be more specific given my parameters Steve, than just the “Midwest”? We are looking for someplace to retire.</p>
<p>;) I forgot to add that proximity to great Thai & Vietnamese food goes without saying!</p>
<p>For retirement, I would look at Sioux Falls, SD to start. Lovely town, FANTASTIC medical care, 3 major hospitals (1 is a VA) in town, a couple medical schools in and near Sioux Falls brings the teaching element to the medical scene. They have museums, a symphony, a small airport that is easy for getting in and out of Sioux Falls (and usually really good air fares). </p>
<p>Smaller towns around Rochester MN and the Mayo clinic would be options.</p>
<p>Towns in the metro St. Louis area and access to the hospital associated with Washington University.</p>
<p>Areas around Des Moines, IA or Omaha, NE would be considerations as well.</p>
<p>Even towns 45 minutes from say Minneapolis, will be affordable on 50K with access to everything Minneapolis and St. Paul have to offer. Minneapolis has the most theater seats outside of NYC, for example. Minnesota Orchestra and the St. Paul Chamber Orchestra will satisfy the symphony requirements.</p>
<p>Depending on the equity in your house now, it’s possible you can pay cash for a house in many of these places making them even more affordable.</p>
<p>I would also look at any smaller college town in any of the midwest areas. The colleges bring in all the entertainment you want usually and generally the education level in college towns is quite high.</p>
<p>Pretty much any smaller town in NE, IA, WI, MN, MO, etc. will give you want you are looking for. Many of the smaller towns will have a small hospital for “easy” stuff but access to major medical centers through various transportation programs–sounds like you can’t drive?</p>
<p>How likely would it be to live in an area where $50k is far above middle class and still earn $50k? It was my understanding that lower cost of living areas tend to also pay less.</p>
<p>What reeinaz said.</p>
<p>I do know a few of my coworkers who work from home in this area have recently relocated to NC and FL and took their job with them. That’s kind of a win-win… they get to keep their PA salary and are paying NC/FL rates for housing and expenses.</p>
<p>reeinaz-I guess that would depend on what you do for a living but in many areas, it is very likely, especially if you are willing to commute. How many people in PA, for example, commute into NYC to work but live in PA for lower cost areas? It’s the same thing, just smaller dollars.</p>
<p>[South</a> Dakota QuickFacts from the US Census Bureau](<a href=“http://quickfacts.census.gov/qfd/states/46000.html]South”>http://quickfacts.census.gov/qfd/states/46000.html)</p>
<p>Most current census information with median income of $46K. Sioux Falls is also a perennial favorite on the “Best Places to Live” lists.</p>
<p>fendergirl–if you search on that census list I think you will find that the NC/FL median incomes are not that much less than the PA median income–which is right at 50K BTW. Florida, according to the Census data has a higher median housing price than PA too, making it less affordable than PA for housing in relation to salary.</p>
<p>The median income in MN is $7000/year MORE than it is in PA…</p>
<p>Pizzagirl–you can’t be serious, really?? You really think that people that make 50K/year are clueless about “prestige” and are jealous that your kids go to expensive colleges? You think that people in that income category only go to community colleges to become 'dental assistants", REALLY? I would venture to guess that many people in that income category probably have larger portfolio’s than you think…read the book “The Millionaire Next Door”.</p>
<p>As a native northern Midwesterner who has lived on both coasts, Hawaii, the great plains, the northern tier of states, the deep south, and the midAtlantic, I very strongly suggest that anyone even vaguely considering relocating to the Dakotas, Minnesota, Wisconsin, or anywhere farther north than they have previously lived make a lengthy visit during the winter. </p>
<p>Winter weather (and early spring, and late fall) is a serious consideration, particularly as we age. I have considerable personal knowledge of older people feeling trapped inside their homes for large parts of the year due to snow, ice, cold weather, fear of falls, fear of car trouble in frigid temperatures. All the college town amenities are worthless if the process of getting there, parking, and walking through the parking lot is daunting. </p>
<p>I’m not saying don’t move there, I’m saying be very thoughtful about the realities of living there.</p>
<p>Personally, if I never had to shovel another flake of snow, or never had to take that sideways slide down the driveway to retrieve the morning paper along with the shuffling crab walk back up the driveway, I’d be a happy person. This winter, with it’s record setting warmth, has been glorious. I love being able to walk the paths all winter.</p>