<p>"Welcome to the plight of so many Cali kids. Becuase of the high cost of living and housing most families with incomes that look great other places can not afford private colleges for their children. Most families described as fairly wealthy won't get financial aid as they are sure to have significant home equity if they've owned a home for 8 years in the Bay Area."</p>
<p>I know one mom with 5 kids, living in the L.A. area. $160k income. She remortgaged the house 5 times, once for each of the kids, paid the full tuition, and each time came out ahead. Her attitude was that, if the market went down, with all those kids out of the house, she was going to go find an apartment anyway.</p>
<p>No tears for those with California real estate, not when the median family income in San Francisco is $49k.</p>