<p>*thank you, guys. I meant non-loan financial aid from the school, though - 80k is really the “cutoff”? *</p>
<p>Well, that just depends on the university (and often their endowments). Some privates can afford to be super generous to those with incomes in the $80k range, but many can’t. Some can offer to meet 100% of need w/o loans (those seem to be the ones with the deepest endowment pockets). </p>
<p>However, it seems, that once you start getting into the $120k+ range (with one child in college), the aid does go down significantly at these most generous colleges because your EFC is generally too high.</p>
<p>Which schools are you wondering about?</p>
<p>and…the above is right…debt doesn’t count (however, if the debt is from a big medical expense, then some colleges will take that into consideration)</p>
<p>I feel it is totally wrong that my daughter is paying for 1-3 other people to go to college. She pays full price well many pay nothing or very little That is how FASFA works it takes from people who are successful and give to the less. We reward the people who do nothing or cheat on their claimed income and punish the ones that work hard. The system is completely backwards. mark my words this will change in the near future or else everyone will stop doing anything.</p>
<p>FAFSA is just a calculator that comes up with a number that indicates what a family should be paying for college. It’s just one indicator. It also determines eligibility for the PELL grant which is for our families with the least amount of money, giving up to about $5K a year so that ALL kids can go to college regardless of income. For those kids who need some help and whose incomes and college costs show a family need, a very small amount of loans can be subsidized through the Stafford. EVERYONE who is cleared through FASFA, which also makes sure that you are a US citizen or have a green card before clearing you for any benefits, and also checks for any previous federal loan delinquinsies and record, for registration for the SS if a male, and a number of other things. can take some Stafford loans, something few students can take on their own. The total amount is under $30K over 4 years, and the interest rate is no bargain, but usurious. Your D can take out that loan too. The rest of the money is pretty much from outside sources and the colleges’ own funds.</p>
<p>As for your K paying for others’ education, well, what’s new about that? You pay property taxes? You may be paying for other kids going to school. Those with no kids pay for everyone’s kids going to school and get no direct benefit from that. Big families like mine can really make out with all of you guys paying for our kids’ education k-12, except I am paying too, and all mine spent their time in private schools. Schools determine who they want to pay to have come and enhance their reputations and communities, and those that they accept are on one level, and the ones that they give scholarships to a whole other level. Merit awards are given to entice kids better than your D to come to the school so it will be a better place, if you want to look at it that way, and you pay to make it a better place for your kid. Financial aid makes it possible for those kids who better deserve to go to the school can go so that not only full pay kids can be accepted, bringing down the standards. Lots of ways you can look at this. </p>
<p>You pay taxes? Well, depending on what you pay, you are paying for others or getting the benefit of those who pay more than you are paying. If you are dead center in the US averages, you are then paying for yourself. The ones who you are really paying for are some of the truly rich who can use some huge loopholes, including international laws and don’t may a pittance on their earnings when they should be. I wouldn’t be beating on the doors of those making poverty levels for their tax money. They don’t have it.</p>
<p>What am I doing wrong?? I have 3 full time college students and two elderly and blind parents at home that I support all 6 of us on 51K a year from my civil service retirement pension. I have lesss than 8000 per year per person to live on and CANNOT qualify for a pell grant for my kids because I am about 1100.00 over the limit. </p>
<p>There is something wrong with this and it is not fair. Does anyone have a suggestion on how I can qualify for the pell grant given the fact that I have a fixed…forever…unearned income of 51K and support 6 people with HUGE medical bills not covered by my 400.00 per month health insurance. </p>