<p>Astrophysics mom - I understand your point. I have a problem with almost all the "rules" regarding financial aid at these colleges. </p>
<p>To be perfectly clear - I don't have a problem with the "concept" of financial aid being awarded for those who are truly "needy" and have parents who are unable to provide for their children's college do to the lack of education/ability. I just see no way for it to be "fairly" decided who will receive such aid. </p>
<p>There are many parents on this list who received the most elite educations and are certainly capable of earning high salaries but chose other careers with more limited salaries - perhaps because they were more personally rewarding - yet, their children receive financial aid. </p>
<p>Some earn modest salaries - yet those salaries have guaranteed longevity, retirement, benefits; while others chose higher riskier jobs with no longevity or retirement thus must save for such. The modest salaried individual receives significant aid while the other must use their savings for college. And, for those who argue that "retirement savings" is not included in aid calculations - the amount of savings most individuals can protect through "qualified plans" is very modest - nothing like guaranteed in retirment programs. </p>
<p>For example, the discussion of home values. There is absolutely no "fair" way to consider this item. As one poster commented, "you can't spend a home". However, this poster can be awarded significant financial aid while keeping his/her home - then after the kid(s) graduate - sell the home and use that money for other purposes. The same "income" saved must be used for college and is thus unavailable later for medical needs, retirement, etc. </p>
<p>And, then there are those who live totally irresponsibly "deciding" to spend all their money saving save nothing - as astrophysics describes. Their kids are rewarded with financial aid. Yet, the parent who saves and "decides" they cannot or will not fund an "elite" education - their kids receive nothing. Why hold children accountable for some decisions of their parents and not others? </p>
<p>Why do parents of twins receive more "aid" than parents of two children spaced four years apart? Supposedly, "financial aid" depends upon parents saving for their children's education - before and after college - not paying out of "current earnings". The total costs will be the same or more for the parents with spaced children. </p>
<p>I could go on and on - we've all seen the posts. </p>
<p>There is just no way that such a system can be "fair".</p>