I have seen many threads on top schools or any school with good aid in general saying that they were middle class but qualified for no aid. Many people have made a “tier” of salary where they make too much to get aid but too little to pay for college. I thought my family was middle class as our family income is around the median family income in the US and most NPCs(for schools meeting 100% aid) have the cost around 1/4th of the sticker price. This is very reasonable and makes sense to me. So when people on here say they are middle class but get no aid, does that mean middle class is considered $100-150k here? That seems to be where you can’t afford full pay but won’t get much in aid but I don’t really consider that “middle class” as you could live on that without having financial worries in most of the US. So how exactly is middle class defined on here?
It’s really all relative. $100,000 in South Beach Miami is very different than $100,000 in Flint, Michigan. In fact, some may find this strange, but my family has a household income of more than $200,000 and I consider that middle class. It’s not that I’m out of touch. I’m well aware that my household income is roughly in the top 5% of wage earners in the U.S. However, when you make more, your standard and cost of living usually increases. I’ve never felt wealthy. My parents have been paying for their mortgage while providing for other elderly family members as well. We would go on a vacation maybe every 3-4 years? Despite the income, because my family has a mortgage, two cars, two kids, and other financial dependents, I’ve never felt rich. Though I do realize that I am incredibly privileged.
I also feel like the type of parent who has the luxury of spending free time on CC or is aware of the nuances of the college application process generally is not someone who is low income and is struggling to make ends meet. It seems like there are a lot of successful, highly educated hardworking people here who are statistically “upper middle class” but may feel middle class.
For me personally, when you can spend money frivolously without a second thought, you’re rich.
100-150k is middle class in many urban areas on both coasts, simply due to the cost of living. My mortgage payment on a 2000 sf house on 1/2 acre wouldn’t get me a studio apartment in San Francisco or New York. So it’s all relative.
I assume people on this board tend to live in those higher cost areas.
On CC, the line between “middle class” and upper income is not a number. It’s whether your family needs to cut back on family vacations to afford paying for college.
@GMTplus7 I saw a post of one parent ranting about need based aid because they were full pay so his wife had to start working part time to afford full pay. Then he said that people that aren’t full pay just aren’t making the sacrifices that his family had to make. Posts like those made me wonder where people draw the line between middle and upper. I would think a middle class family can afford a modest vacation every few years but I guess people need several per year.
“However, when you make more, your standard and cost of living usually increases.”
And that increased standard of living is what makes you no longer middle class even if it costs you more, right? Let’s call it upper middle class or lower upper class, but if you aren’t living at a standard level, I’d argue that’s not middle class.
On CC? Anywhere from 2-10x the national median income.
Median income (50-60k) is low or lowish.
It’s really amazing the bubbles CC people live in.
@Mama2Drama @CaliCash I understand there are some very high COL areas like NYC, Silicon Valley, etc but these hardly make up a large portion of this country. Those type of areas tend to be very small. If you drive 20-30 minutes away from one of those high COL areas I bet you could find a more reasonable one. Some family friends lived in a top in the country school district but 20 minutes away was our house where we could buy a house for 1/3 of the cost. I realize that going to a really good school matters for most people but I don’t see why you would live in such an expensive area for K-12 if it means draining the rest of your money. I guess another argument is jobs but you don’t have to live in Silicon Valley to get a CS job. I know its peoples decisions but I don’t like when people complain especially because it was their decision and they set their priorities.
That’s why I clarify. I don’t call people not eligible for need based but not having enough to fund college out of their pay middle class. I just say they are in the middle. Which they are.
Also, the median household incomes in those areas often are not even close to the level that would be “middle class but get no financial aid anywhere”. Median household incomes:
$83,787 San Jose http://www.census.gov/quickfacts/table/PST045215/0668000
$52,737 New York http://www.census.gov/quickfacts/table/INC110214/3651000
I.e. people can be very flexible when self-describing themselves as “middle class”, even if they are in the top few percent of income and wealth. So keep that in mind when reading posts on these forums.
Remember, many people who post on here are teenagers who have limited information about their family financial reality. And, I do agree, what is considered “middle class” is relative.
We are definitely in the middle of middle and we can only afford about 1/3 of or EFC and it has nothing to do with vacations.
http://www.pewresearch.org/fact-tank/2015/12/09/are-you-in-the-american-middle-class/
@Mom2aphysicsgeek, that’s an interesting link. According to them, for a family of 4, “Upper” income tier begins at at an income of $145,100. I’ll bet there are a lot of families in suburban DC, NJ, and Boston who would be surprised to hear that.
IMO, “middle class” should be defined as a function of income, assets, age, and zip code.
$145,000 per year is clearly upper income. Whether people or families with such an income feel like they are making upper income is another story.
DC median household income is $69,235, according to http://www.census.gov/quickfacts/table/PST045214/11 . For Boston, it is $54,485, according to http://www.census.gov/quickfacts/table/PST045214/2507000 .
Are we talking middle INCOME or middle CLASS. Two very different things.
Growing up, my family was definitely lower income but we were very much middle class. We had enough money to pay our bills, lived in a fairly affluent suburb, and all of our friends were much the same even though incime S varied all over the place.
If you try to live on $150k for a family of 4 in DC, you’d be shopping in Walmart and driving cars until they died.
@NoVADad99 we have family who lives in the greater DC area. None have $150,000 a year incomes. None do all,p of their shopping at Walmart.
What about those living on the median household income of $69,235?
The OP is inquiring about financial aid here…right? The policies about awarding need based aid vary by college with some being more generous with higher income families than others.
If this discussion is about what middle income or middle class means…maybe it belongs in the parents forum…or cafe.
Almost everyone in the United States considers themselves middle class; it’s part of our national ideology. People who make $500,000 a year think they’re middle class.