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High Income but High Debt, Too: Can We Get Financial Aid?

CCEdit_TorreyCCEdit_Torrey 31 replies297 threads Editor
Your parents' income is too high to qualify for financial aid, but their debt is too high for them to afford tuition. The Dean talks about your options: https://www.collegeconfidential.com/articles/high-income-but-high-debt-too-can-we-get-financial-aid/
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Replies to: High Income but High Debt, Too: Can We Get Financial Aid?

  • UndercrackersUndercrackers 872 replies2 threads Member
    The key is not only figuring out college choices that end the college-debt cycle, but then having the intestinal fortitude to stick to that plan and being very frank with your kids about the kinds of schools that are options for them. A "dream school" can turn into a financial nightmare when you see a substantial amount of your income going to pay down college loan debt every month. We as a society are very used to borrowing money for everything - at our peril.
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  • my2greatkidsmy2greatkids 37 replies1 threads Junior Member
    Will a college recind acceptance offer if writing to financial aid explaining the need for additional aid based on high debt, assuming you are unable to afford tuition anyway?
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  • twoinanddonetwoinanddone 23274 replies17 threads Senior Member
    The school won't rescind the acceptance, but if you can't pay for it will it really matter? You'll have to turn the school down.
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