<p>“Actually, you DO benefit from that service; ALL of society benefits from having an educated population.”</p>
<p>Pretty clear to me that the context was “directly.”</p>
<p>To the OP - </p>
<p>There are a number of private colleges that don’t require a fafsa for merit. There are some with excellent merit scholarship programs and depending on what type of college your son chooses to attend he probably will find a very very good deal.
I don’t think filing the FAFSA is going to gain you anything. </p>
<p>If your son scored nearly a 2400 on the SAT’s - I suggest you commence the college search with an open mind and carefully look for both private and public schools with merit scholarships. Your son is in an excellent position.</p>
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welcome to the real world.</p>
<p>The FAFSA allows access to Stafford loans. Also some scholarships do want a FAFSA for eligibility regardless of need.</p>
<p>Wow, this is a harsh thread. My son’s first year we didn’t qualify for need based aid and he received a generous merit scholarship. The college uses some of this merit based money to attract better students which raises their rankings which raises their number of applicants which down the road leads to more money all the way around including more money for the school to spend on need based aid.
The OP was asking a straightforward question and was honest enough to give some AGI information to put her question in context. I didn’t read the OP was sounded entitled or difficult, she was asking a question. None of us should be a position of having to justify our income.</p>
<p>ebeeeee, I think it was the idea that these quite well-off folks are “looking for a little help” that may have struck some not quite the best way. They don’t really need help; they just want to save some money.</p>
<p>I support the OP in her question, and I feel for her because she was subjected to unprovoked attacks for being successful by some on this forum. After your children graduate from their higher education institutions and embark upon the rest of their lives, and (hopefully) become successful, will you criticize them for earning a good amount? Will you criticize them for wanting to make sure they are not making a dumb and avoidable mistake when it comes to putting your grandchildren through college? Will you compare the way you obtained finances for them to go to college in 2009, to the way they will have to do it for your grandchildren in 2029?</p>
<p>Just put it into perspective. We all want a better life for our children than we had. OP and her DH have done just that. You want that for your own kids too, don’t you? Will you be jealous of your kids when they become more successful than you were? Or will you be proud of them, knowing also that they couldn’t have done it without you?</p>
<p>Wiggle, I don’t think it was for being successful. (I don’t know that I’d necessarily equate success with high income, but recognize that it is a popular measure. And I definitely don’t equate high income with wealthy, as it’s perfectly possible to have a high income yet still be financially insecure, and to be wealthy without having a high income. But I digress.)</p>
<p>I’m all for saving money; I’m part-Scottish, after all! I didn’t mind the OP’s question, either, and look at that, saved the OP $80K! :D</p>
<p>I think the problem may have been the way it was worded (“a little help”), and perhaps, too, the comment about spending a quarter of one’s income on education. That’s a pretty standard amount to pay for ONE kid’s education, or even more, and most are not so successful, or fortunate, or have the income (however one wants to think of/phrase it) to still have six times the average income left over after paying such an amount. There’s a HUGE difference between someone’s earning $60K/year paying out 1/4 of that income and someone’s earning $400K/year and paying out a quarter of that. The first may need help; the second doesn’t, but of course may want to save some dough if possible.</p>
<p>BCEagle, I would maintain that everyone benefits, directly and indirectly, from many public services, including public education, but of course, we need not agree on this!</p>
<p>If it is true that in order to file a FAFSA in future years, you have to file one the freshman year, then I would file it if I were you.</p>
<p>We own our own business also, and live in a very high cost of living area - don’t want to open that can of worms LOL, but unless you can absolutely, positively guarantee that your financial situation will not change in the next 4 years, I would file one “just in case”. Life is not certain, with business, health, money, etc. and it would probably be a good idea for anyone/everyone to file because you cannot predict the future.</p>
<p>Of course, I am going on the assumption that as someone said above that if you don’t file the first year, you are out of luck for future years. But, really, what if something changed THIS year. You just never know, and it is better to be on the safe side.</p>
<p>Just my opinion, and worth what you paid for it LOL</p>
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<p>owlice, I don’t know what to make of this thread either. There are really only 2 kinds of “help” - need based and merit based. My2sunz boy isn’t interested in schools that offer merit, but she knows they won’t get need based, or does she not? Seems like some people interpreted this as a need request (and were incredulous), some as loans, and the rest as merit…every question answered on the somewhat vague original question.</p>
<p>the OP has stated on another thread that they are looking at the Ivy’s. </p>
<p>I know those are the most generous with NEED base aid, but I’m doubting that someone with an AGI of 450k plus assets is going to qualified for need based aid. </p>
<p>If they want merit aid, they need to look at schools that gives that to people regardless of need. I do have to believe in this day and age, that when colleges see the kind of finances the OP is talking about, the college sees $$$. </p>
<p>Maybe we were harsh to the OP, but they said they were ‘comfortable, but not wealthy’ and I think that struck a chord with those of us that are hanging in there at a fraction of that income (I mean the kind of fraction that divides that AGI by a factor of 10)</p>
<p>Owlice told how to save 80K by taking stafford loans and having the kids work. that’s a big chunk of change to most of us.</p>
<p>Life is very much uncertain, the presumption is that one saves for a rainy day (or college) a penny at a time when one is above poverty level. I thought Owlice was spot on with the advice to have the kids take out Staffords and work for their walking around money. I’m a big believer in the “skin in the game” theory regardless of how much disposable income parents have. The parents can always pay off the loans when the kids finish their end of the deal (successful completion of a undergraduate degree) and all kids need some sort of real world job on their resume.</p>
<p>Do your kids work, OP?</p>
<p>Obviously your son has a great work ethic; otherwise he wouldn’t have such terrific grades and test scores. If he doesn’t have a job, you should teach him to balance said terrific grades and test scores with one. </p>
<p>I’m a graduating senior. Thanks to my working 30 hours a week junior year, every weekend this year, and two jobs this coming summer (one, a temporary full-time job five days a week; the other on Saturday nights to pay for gas to get to the first job), I am pretty sure I’ll be able to contribute about 5k a year to my college expenses. I know many kids at my school who are the >4.0, 2350 SATers think they can’t balance a job with their rigorous school schedule…I think they’re just trying to get out of having a job! I still managed to do extremely well in school, and on top of that participated in extracurricular activities 20+ hours a week. This year I actually got a 3/4ths ride to a nice private school (although I didn’t take it). </p>
<p>If your junior son gets a job this summer, then works through the next school year and summer following, there’s no reason he shouldn’t be able to make enough money to contribute to his tuition every year, which could be the “little help” you’re looking for. Your incoming freshman son can obviously start even sooner. 
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<p>You say you came from a family that wasn’t well-off. Well, since I also come from a family that has always struggled financially, I’m sure I can tell you this and you will remember it: everyone needs to chip in. Hopefully your kids know this too.</p>
<p>Our approach is that we pay for our kids’ educations so that they can focus on their studies. This might be an asian thing.</p>
<p>That said, I’m pretty happy that our son has two part-time jobs and an internship for the summer as it teaches him about work and managing money and it provides a level of satisfaction and those marketable work skills on the resume. Picking up merit scholarships is a bonus. That said, we’re still paying for tuition, fees, room, transportation - he pays for his own food and incidentals because he wants to.</p>
<p>Regarding jumping on the original poster: I think that’s a little improper here - the poster was only asking for information. If you wanted to debate a broader issue, a separate topic, maybe in the politics board would have been more appropriate.</p>
<p>BCEagle, I did better in school when I was working because I had to be much better organized. I’ve read of studies that show that students who work some – 10-15 hours, I think it was – have higher grades than those who don’t work at all and those who work a great deal.</p>
<p>Having read through this thread again, I see that the majority of the posters here did NOT jump on the poster, and did answer the question.</p>
<p>“I’ve read of studies that show that students who work some – 10-15 hours, I think it was – have higher grades than those who don’t work at all and those who work a great deal.”</p>
<p>This assumes that the purpose of college is to maximize grades. While grades are important, there are many other aspects that can be useful and that do require time.</p>
<p>“Having read through this thread again, I see that the majority of the posters here did NOT jump on the poster, and did answer the question.”</p>
<p>A reputation that takes decades to build can be ruined in a moment. In like manner, one or two posters can really sour the experience for a CC member.</p>
<p>I sure would love it if my high school junior could get a summer job … unfortunately, he’d have to move to another area to do it! Sigh … it’s tough to be in the Motor City these days.</p>
<p>There is a lot of animosity towards posters looking for ways to pay for college and are upper income (I’ll define that as Obama tax increase category). I take issue with this attitude because sticker shock occurs with many families, even those who are considered most able to pay. Until we are faced with the numbers, many of us find it hard to believe that the costs are reaching the $60K a year threshhold for a number of private schools. I find it difficult to swallow even as I have watched the costs rise to this level over a 10 year period when I’ve been tracking these expenses. That is more than 10X what it cost for me to go to a private school. </p>
<p>Most of us who are looking at private colleges have wanted the best in education for our families. That means investing in an environment that enriches our children. We want safe neighborhoods with families that also put a premium on education. That means good schools. It may mean private schools that best fit our kids. It means time spent in libraries, books around the house, cultural activities and experiences. By making these things our priority, it often means spending most of our income on these things as our children grow up. Not squirreling away the money for college. Yes, there should be a balance and all of us should have saved for college and kept well aware of college costs and finances. But the reality is that many of us do reach our kid’s college coming of age, inadequately prepared.</p>
<p>The families without the money clearly should get more opportunities to have things on a level plain. Our system is inadequate even as it tries to do this. Yes, there is the PELL and other low income funds and loans. There are schools that guaranteee 100% of need. Still inadequate for many families who just don’t have any extra money for college. So it should be that the emphasis be on those who absolutely CANNOT pay, under any circumstances for college. Little disagreement on that.</p>
<p>There is a nastiness towards those families who have successfully put their money and lives towards the best education possible, and find when their kid is ready to start college, that it requires wrenching away those very things in life that have contributed to the family lifestyle in order to make this next step in the grand plan of things. Those families who have just thrown their money to the winds and spent on throwaways are really in better shape than those who have invested their money in things that continue to need financial sustenance.</p>
<p>So you bought a great house in a wonderful neighborhood that has contributed greatly to family life. Selling it now is not easy to do. Can result in a loss these days. Also if there are other family considerations, it may not be the best thing for the family to do. This is a cost item that is not easy to whittle down. It’s not like avoiding Bloomingdale’s, Macy’s or even the Salvation Army for shopping sprees. There is a certain fixed expense that goes with where you live and it is not easy to reduce it these days. </p>
<p>Private school for the other kids is another such items. The younger kids are doing well and are happy at their current schools which you have determined the best placement for them educationally and overall. To pull them out is not that easy to do, and not necessarily the best move for a family to make overall.</p>
<p>I bring this up as someone who is struggling on an austerity regiment to pay for our kids’ college. Though we are not quite in Obama’s “rich” category, we are close. We qualify for no financial aid. We’ve made our kids’ education and environment the major consideration in our lives. As I look at our budget to make cuts, as much as we make, without cutting into stuff like house cost, kids tuition payments, there really isn’t much fat in the budget. Education and home are our biggest fixed expenses and to cut into them to pay for college is self defeating in our family goals as a whole.</p>
<p>Not looking for sympathy here, never have. Just want to see if I can show you that it is not such an incredible affront for someone in the upper income brackets to be looking for ways to pay for college. The money may not be in the Mercedes, second home, or other things that can easily be replaced. They may be in things that have to be sustained in order to keep the family on course as they have been for years.</p>
<p>Nicely said.</p>
<p>We are nowhere near the “Obama rich” category (less than 50% of it anyways) but have significant assets saved on one income. It’s the result of a different set of choices but with similar goals. Many hear the myth that if you study hard and do well on tests, ecs, grades, etc., there will be a pot of gold at the end of the rainbow. Or high school. That myth gets busted pretty hard in the junior and senior years.</p>
<p>All in all, we find out that college is a business; just like the local sandwich shop.</p>
<p>I work with a lot of high-income folks and have met more than a handful of the truly wealthy. I usually try to listen to what they have to say instead of telling them what they should do unless they want something where I have special expertise. I figure that I have a lot more to gain from such meetings if I can take something and put it to use in my life.</p>
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<p>What you don’t realize is that those of us who do qualify for financial aid have often been “struggling on an austerity regiment” our whole lives. If this is the first time you have been confronted with the choice of sacrificing something in terms of your lifestyle to have what you want, or giving up on having what you want – then we consider you very fortunate. </p>
<p>Mathematically it isn’t feasible for colleges – or the US government – to subsidize the people on the top of the economic scale. If $200K earners receive substantial subsidies… then who is left to pay the bill? Where does the college get the money to pay the faculty salaries, the maintenance costs, the lab equipment, etc.? </p>
<p>Here’s my offer: let’s trade places. My kid qualifies for substantial financial aid, my AGI is under $40K, and my daughter’s college meets 100% of need and expects me to pay around $20K a year. Would you be willing to live on my income from here on out so that your kid can get my daughter’s grants? (Probably around $22K next year, with the balance of financial aid from loans and work study).</p>
<p>You said it far more eloquently than I ever could, cptofthehouse…thank you.</p>