<p>sorry, didn't see your mention of the rickety house.</p>
<p>I freak when I hear people say that they need a car that costs 20K plus. (I haven't spend 20K if you add up all the cars I've owned in the past 25 years!)</p>
<p>No offense meant :-)</p>
<p>i just did a quick vehix search for my area for a Sienna . Found several 2003 with 60-70K miles for under 15K. Come to philly and get a cheap car!</p>
<p>I had a great strategy for buying an almost new car.
We had a minivan that didnt really have * that* many miles- although we drove it for all our camping vacations ( I haven't been on a plane in ten years), but it had been through 3 transmissions- they just aren't made that well.
Anyway about 4 years ago- we bought a new car- or at least H said that he agreed, it wasn't worth pouring anymore money into it.
I went to one of those credit union sales- at a central lot- with several different dealers and lots of cars.My H had suggested I look at Jeeps, so I found one I liked, but after I test drove it, I went home to do research. When I came back that particular Jeep was gone- but the salesman was hot to sell another. However I wasn't interested- and it took him knocking alot off the price and following me out to my car to get me to actually take it home.
I paid about $13,000 for a Jeep liberty that was about 9 months old, with 6 thousand freeway miles on it ( it was a lease)
12 years really isn't that old for a car- my H still has a 64" pickup and his work car is 15 years old- </p>
<p>Since Im already lecturing, I would suggest that repairing your house, can be learned- for much of the work & is not as expensive as you think.
We just stripped our bathroom down to the studs to repair a leak , added insulation ( it had zero), put a fan in that vents through the roof,Im going to make a bathroom vanity out of an old dresser that was in the basement, I don't like the new ones anyway- but my point is- if you don't know how to do something- I bet you can learn! :)</p>
<p>considering my pretty good luck w/ the previa so far, I might consider revising my used car formula from under 35k -that's what my current 175k had on it - to under 50 or 60k as was suggested by a previous poster. that wd take it down from the 20sk. btw, since we are up north and are looking for colleges that would be drivable colleges all up in the snowy slippery north, and we'd be driving to and from, we ' d like to keep our current toy all trac minivan functionality intact; therefore, we'd be looking at a 2004+ sienna awd; THAT car, with awd is in the 20s at least.</p>
<p>having just this, I recall our previous toy. m.v. After I had similar good luck w/ a toy., I bought a 85k toy m.v. and it blew up not 10k miles later. it probably was beat up. had it cked...but....so I am back to wanting a two yr old 35k. if we can get a toy. sienna awd with l.t. 35k miles at a c union sale for around $20k, I'll be on it...WHEN this previa bites the dust.</p>
<p>oops, we are rambling, a little from the topic. altho it is germaine to determine ways of winnowing down consumer debt. c/b another topic.</p>
<p>let me reiterate: we as a nation need to say that it is in our nation's general good to have more people get an advanced education instead of less; not just a good idea, but the law; back it up with some extra coin to the colleges so they do not have to raise prices so much and extra coin to needy people in order to keep loans down to a reasonable level.</p>
<p>as interest rates rise and reach their historical norms, college almost wholly by loans will implode and the peasants will storm 'old main'. </p>
<p>not really. the rich will get richer going to college and the middle class will erode and we'll be argentina or russia. and the world will be the worse off for it.</p>
<p>"walk across the wasteland"</p>
<p>'road warrior'</p>
<p>idic5, I second you on the thought that more education is what this country needs. If only ALL kids valued their brain as much as their Ipod, cell phone, clothes, etc. Don't they realize it takes serious coin to keep up 'the lifestyle'. </p>
<p>having never been to college, I am grateful every day for the fact that I have somehow eeked into a 'middle class' salary. I lack for nothing and I appreciate all that I have. Priceless..</p>
<p>sorry, I know this thread is old...I was just wondering if what standrews said is true...</p>
<p>
[quote]
For FAFSA, EFC is based on a percentage of income and a percentage of assets. I think it is 20% of income and 5.6% of assets.
[/quote]
</p>
<p>No it is not as simple as that. For FAFSA there is a complicated formula that is used. Parent assets and income are treated one way and student assets and income another. The primary home is not considered an asset and retirement accounts are also not considered.</p>
<p>For the parent part of the formula first there is a protected income allowance for parent income. It varies according to the number in household and the number in college. Then a % of the remaining income goes to the EFC - this percentage increases the higher the income is up to @ 47% of income. Then for assets there is a protected asset allowance. This is based on the number of parents (1 or 2) and the age of the older parent. Of the remaining assets a maximum of 5.6% goes to the EFC.</p>
<p>If you want to get an idea of what your EFC is there is a calculator at finaid.org that I have found to be quite accurate
FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid</p>
<p>currently it is up to date for 2008-2009 school year. The rules and protection limits change every year so it will not be quit accurate if you are looking for a 2009-2010 EFC but will give you an idea.</p>
<p>For the student part of the formula there is a protected income allowance (@$3200 for 2008-2009). After that 50% of student income goes to the EFC. There is no student asset protection. 20% of student assets go to the EFC.</p>
<p>here is the form in all its infamous glory</p>
<p>Thanks guys...I am just a little freaked out because my parents have not saved one cent for my college education, and last year my EFC would have been zero, but suddenly my mom got a better job, so our income is now something like 40,000 per year. This year I will probably make 10,000 dollars but most of that will go to support our household...I think I can save 1,000 for college. Does the FAFSA care that I spent my money on the family? Also, I think my sister gets reduced lunches, but I am not sure if my mom informed them about her income increase yet. Do you have any idea what all that might do to my EFC? Will it be under 10K, do you think? I tried using one of the calculators but I didn't know a lot of the information about taxes.</p>
<p>Also...my father is deceased but he would be 64 and my mom is 54. Who would I use as the older parent? Thanks!</p>
<p>you have 1 parent, age 54. Anything money that is earned this year would affect your FA for school year 2009-2010. If you don't put something in for taxes, it will guestimate for you.</p>