Columbia financial aid

Columbia2002
Sat, 09 Feb 2008 19:02:11 +0000

arguing that a kid whose parents make $200k should get lots of financial aid.



I didn’t argue that at all. I said that the kid who has parents making 200k can’t necessarily afford to go to Columbia.



Assuming: married couple with 1 dependant child making $200k in wages, only taking the standard deduction (10,700) which you would of course be stupid to do. Living and working in NYC.

Turbotax comes up with federal taxes of $39,141 and NY state and city taxes of $18,814 for a grand total of $57,955 in taxes and a tax rate of…29%

I realize this is a very crude way to do it but if anything doing it like this is overly liberal. I think i’ll trust turbotax here rather than your gross exaggerations. I’m sorry you’re wrong.



You totally ignore FICA. Do you know what that is? That’s another 8% or so. So add that to your 29% and we’re already at 37%.

And did you run an AMT calculation? Do you know what the AMT is either? Do you know how it works?



The fact that the OP doesn’t receive any financial aid signifies his EFC is very high which means his family can afford to pay their way.



Everyone knows the EFC doesn’t really reflect how much many families can “afford” to pay, whether they’re rich or poor.