<p>I never said full aid.</p>
<p>More aid.</p>
<p>I am saying "not necessarily" more aid.</p>
<p>"If I save $300,000 over 20 years and somebody else saves nothing but has made a similar income, why do I pay around $15,000 more, each year, for the same school"</p>
<p>Why can't I feel or think that is wrong?"</p>
<p>"Oh, I don't know. Why do I, with a very simple tax return, no outside businesses, small house with small mortgage, get financial aid awards from 100%-of-need colleges varying by as much as $47k over four years?"</p>
<p>But, to answer your question, which is the same as the answer to mine - it is their money, and they get to do what they want with it.</p>
<p>And you can feel or think what you like, but it won't change a thing."</p>
<p>"And you can feel or think what you like"</p>
<p>That's right.</p>
<p>And there is nothing wrong with feeling or thinking this is wrong.</p>
<p>the cost of attendance to attend Emory is $49,708</p>
<p>Financial</a> Aid - Emory College - Cost of Attendance</p>
<p>If the Emory gave OP zip in FA, based on Ops information from the FAFSA and CSS profile, the school feels that the family has the income/assets and can afford to pay full freight. </p>
<p>Because a family chooses not to, doesn't mean that they are getting screwed, it means that this is simply not their choice on how they want to spend their money.</p>
<p>"My data show how much different school could look at the same data and reach vastly different conclusions. if the kid got into the school that only gives 6K grant and you don't have any savings. You can't afford to go."</p>
<p>Dad II, that doesn't contradict what I'm saying either.</p>
<p>I never said different schools give the same aid to the same students.</p>
<p>If Emory claims to meet 100% need. </p>
<p>On the other hand, it is possible if OP had not saved as much, his kid may get some aid.</p>
<p>"If the Emorygave OP zip in FA, based on Ops information from the FAFSA and CSS profile, the school feels that the family has the income/assets and can afford to pay full freight. Because a family chooses not to, doesn't mean that they are getting screwed, it means that this is simply not their choice."</p>
<p>The people of Emory have the right to think or feel what they want.</p>
<p>Wasn't it the Rolling Stones who sang
" you can't always get what you want"........
Unfortunately, that's the way it is with FA and it won't change for most middle income families anytime soon.</p>
<p>
Because you have more assets, and the amount you are expected to pay is a very small fraction of your assets.
[quote]
Why can't I feel or think that is wrong?
[/quote]
Because those of us who do qualify for extensive aid based on our incomes couldn't even imagine saving $300K over a period of 20 years. We didn't spend that money along the way... we never had it. We have been worrying every year of our lives how to make ends meet. </p>
<p>I'd consider myself very fortunate if I had $300K in the bank and was asked to pay $15K of it each year for college. The worst case scenario would be that at the end of 4 years, I'd have $240K in the bank -- but the reality is that money would be earning interest every step of the way. (I think I'd put most of it in bonds, CD's, or money market accounts so that I could maximize the interest. Or maybe buy Euros......)</p>
<p>
[quote]
If I save $300,000 over 20 years and somebody else saves nothing but has made a similar income, why do I pay around $15,000 more, each year, for the same school"
[/quote]
</p>
<p>you are making a judgment here that the person with the "similar income" had the opportunity to save that much.</p>
<p>Is calculation financial aid always "fair" - nope but life is not fair either.
To be fair perhaps they should ask for income from the last 18 years. And receipts. and electric bills. etc etc.</p>
<p>if someone was able to save $300,000 - curmudgeon is right - sock it in a 401K. You can even withdraw it for educational purposes without a penalty. Of course if you are old enough - 59-1/2 you can withdraw it as well.
That way you can have you cake and eat it too.
You have your hands on an asset that can help pay the bill - one that others don't have.</p>
<p>This whole thread reminds me of the Rolling Stones (OKay taken out of context I know):
[quote]
You can't always get what you want
You can't always get what you want
You can't always get what you want
And if you try sometime you find
You get what you need
[/quote]
</p>
<p>Again - it is all about choices.</p>
<p>edit - menloparkmom - LOL we posted at the same time! you were quicker!</p>
<p>As well as the OP can think whatever he wants. However ,the fact still remains that there will still be a lot of families writing the full freight check for their kids to attend Emory. Are they being screwed too?</p>
<p>
But you are assuming/implying that the hypothetical $150K earner with $300K in savings is at a disadvantage compared with the similar earning family with -0- -- whereas the reality is that the family without savings has fewer choices. Harvard has a great financial aid initiative, but who can count on their kid getting in? So maybe the upper middle class family that "spent" all its money over the years finds that at the end of the road, their kid didn't get into any of the most generous colleges. Maybe their kid is almost as smart as Dad II's daughter, but was waitlisted at the $30K grand school and is stuck with the $6K grant school. </p>
<p>If you've got the $300K in the bank... you've got a choice. Do you draw on savings, or not? Do you leverage the savings into a larger loan, or not? Maybe School C isn't affordable, but school's A and B are, even though it requires you to draw down your savings a little more than you had hoped. </p>
<p>If you don't have the extra $300K, there is no choice, except maybe to rant about how unfair it is that school D waitlisted your kid while accepting Dad II's daughter.</p>
<p>calmom, thank you. My point is that deserving family is not garantteed to get nice FA packages at elite schools. If you don't save, your kid may get in their dream school and you have to tell them "no" because you did not save.</p>
<p>And I went down to the demonstration [cc boards maybe?]
To get my fair share of abuse
Singing, "We're gonna vent our frustration
If we don't we're gonna blow a 50-amp fuse"</p>
<p>"As well as the OP can think whatever he wants. However ,the fact still remains that there will still be a lot of families writing the full freight check for their kids to attend Emory. Are they being screwed too?"</p>
<p>That's for the full freighters to decide.</p>
<p>I don't remember anybody talking about life being fair in this thread. Must have missed that. :) </p>
<p>Calmom, I think your post #112 is irrelevant.</p>
<p>Getting into a school or not getting into a school, please, that is not the issue.</p>
<p>If you have saved $300,000, yes, you have a choice. The family that had the opportunity to save $300,000 but didn't, choices were made there too.</p>
<p>And after the choices were made, in many circumstances, the frugal person has to pay $15,000 more for college per year. That doesn't make sense to me. </p>
<p>I'm talking about families in similar situations. People throwing out, but what if one family had to deal with this, and that, and the other didn't...fine, then we are talking about DIFFERENT circumstances. I'm talking similar...
It's not that hard a concept.</p>
<p>"Because you have more assets, and the amount you are expected to pay is a very small fraction of your assets."</p>
<p>What's small to one person is not small to another.</p>
<p>Quote:
Why can't I feel or think that is wrong? </p>
<p>"Because those of us who do qualify for extensive aid based on our incomes couldn't even imagine saving $300K over a period of 20 years. We didn't spend that money along the way... we never had it. We have been worrying every year of our lives how to make ends meet."</p>
<p>That's not relevant. I'm not trying to negate anyone's hardships.</p>
<p>I'm comparing people that saved $300,000 and people that had the ability and opportunity to save $300,000 but chose to spend it.</p>
<p>I notice people like to use exact words (or numbers). :) The $300,000 number. It doesn't have to be $300,000. :)</p>
<p>I have a nearly full need-based scholarship to an elite school. My wonderful, extremely hardworking family has come across some terrible luck that has left them with no health insurance and no safety net. I have been able to live out a few of my dreams through sheer grit, but my family would be so lucky to have any of these opportunities that "middle class" posters take for granted. For the love of god, count your blessings...we still do.</p>
<p>"I'm comparing people that saved $300,000 and people that had the ability and opportunity to save $300,000 but chose to spend it."
I agree that the above scenario is not "fair" or "equitable" but what can be done about it to make it fair or equitable? Not much at this point. As long as PRIVATE Colleges have the ability to decide who gets what based on numerous factors- current savings, zip code, source of income, equity in a home, self employed or not, # of siblings in college or private school, outside medical expenses, etc, etc, etc............. it will NEVER be fair to everybody.</p>
<p>"it will NEVER be fair to everybody." </p>
<p>No. It won't.</p>
<p>
</p>
<p>Amen. (10 char)</p>
<p>
[quote]
If you have so much contempt for these schools--easy answer: don't send your kids there. I don't share this contempt, but if I did, I sure wouldn't spend my bucks there. Go to some cheaper non-"price-gouging" school. End of problem.
[/quote]
Exactly - supply and demand rules. Of course, the formula is skewed when there's far more demand than supply as seems to exist at the top small handful of schools but we're fortunate that there are thousands of other choices in our country. No one has to go to the top few colleges and there are countless examples of successful people who went to the non-top-few colleges (or any college for that matter). </p>
<p>I also don't have any contempt for these private schools and I'm happy they work out for some people.</p>