Middle class family with no saving: Am I screwed?

<p>$200,000 per year is quite a bit more than the average household income in CA.</p>

<p>well I live in NJ, if you’re talking about me…and its only my dad working</p>

<p>BUT i do live near people who make 10 million dollars a year, so that might be it.</p>

<p>If you want to go into sciences, my teachers say IU is an awesome school. Since it doesn’t claim to be a technical institute or anything, that probably means that its humanities aren’t too far behind. Also, my classmate’s 45-ish year old dad just finished paying off his student debt from Harvard- just in time to pay for his daughter’s college education. I’d take the full ride. Since IU is good, you ought to be able to find a job outside of Indiana fairly easily. Best of luck!</p>

<p>and again, the Honors program at Indiana is really good. Have you looked into it?</p>

<p>200,000 is a lot in california… at least to me! my family makes about 50k and there’s 6 people in my family!!</p>

<p>It depends on where you live. I thought it was $150K.</p>

<p>Interesting inputs. </p>

<p>When I said “EFC is pretty much all on me” I meant my family. Sorry for the confusion. </p>

<p>I live in a pretty rich area, so I probably subconsciously did my comparison among my friends and other people at school (which makes me seem more like a lower class…)</p>

<p>Reflecting, it’s just kind of sad how others like me get screwed over by the system =/</p>

<p>i’m pretty much in the same shoe.</p>

<p>i can’t really afford any of my colleges, and i’m not likely to get any grants or need-based scholarships.
even my state school classified me as an oos, and now i have to work my way for residency, paying like 32k for a year.</p>

<p>now that i can’t really do anything, i’m doing my best to like my state school which i will be able to afford in the near future</p>

<p>

that’s because you’re from Jersey :stuck_out_tongue: (land of the millionaires)</p>

<p>how in the world can you say you are ‘screwed over by the system’. Your parents were fortunate enough to even COME to the USA, get educated and make that kind of salary.</p>

<p>Now you think you are screwed? Why? because nobody will pay for your expensive private school. Lose the sense of entitlement. It will get you nowhere.</p>

<p>Would your educational opportunities would be better in China???</p>

<br>

<br>

<p>EVERYONE’S EFC is on the responsibility of their family. You are not alone in this. The family can either decide they will pay the EFC (through either current income, savings or loans) or the student needs to choose a less expensive school. Need based financial aid will NOT reduce your EFC…it never does. And MOST families in this country do not have in excess of $150,000 in income.</p>

<p>Merit aid can (as you already know by receiving that merit scholarship from IU).</p>

<p>I think it’s time you learned a lesson from your parents. They went to school on scholarships. Not knowing what schools those were, it’s quite likely the school was not their first choice. Despite that, they were able to find employment that provides an income above the national average. (and being a fellow Hoosier, I can guess the area you live in. The median household income in IN’s wealthiest county is about $83,000. More than $150,000 doesn’t make you poor.) </p>

<p>“I don’t want to sound like a snob, but IU is hardly an option.” This does indeed make you sound like a snob. You will not be the smartest person at IU. Off the top of my head, I can think of half a dozen really smart young people that are at IU or will be this fall. Most received merit scholarships. All have received acceptances elsewhere. One received acceptances from some pretty elite schools, and also received one of IU’s most prestigious scholarships. The fact that this student could see beyond the “name” of those acceptances and saw the opportunities available to her/him at IU makes him extremely bright in my opinion. These are young people that have spent most of their lives in Bloomington, some living just blocks from the university, some with parents that teach at IU, etc. Many of their parents can afford something more. The fact that they can see, without whining, that they will receive a fine education at a great cost (nearly free) makes them much smarter than you. I also suspect that your sense of entitlement will hurt you in the long run.</p>

<p>I am with sueinphilly. To have the gall to say “Reflecting, it’s just kind of sad how others like me get screwed over by the system =/” – that is pretty outrageous.</p>

<p>your parents make 3 times the national average wage, you got a full ride at an excellent four year college – and you are “screwed over by the system”?</p>

<p>You need a reality check. I would highly suggest volunteering with americorps or another volunteer group that helps others that really are screwed over by the system. </p>

<p>You have options – many, many, many kids do not have any options at all. It is time to grow up and face the fact that you can’t have everything you want.</p>

<p>razzlegirl:</p>

<p>I’m in the “take the full ride” camp. Screwed by the system? No one has a vested right to financial aid from a private university, and, unlike many people with much less income than your family, you have the opportunity to go to a very fine university tuition free.</p>

<p>But if you are bound and determined not to go to IU, since you have WashU quality stats, there are MANY schools (particularly small schools) all over the country that would give you very substantial merit aid–perhaps up to and including full rides. At this point, however, you would have to take a year off to work, get your head together, and do some further research.</p>

<p>The title of this thread should read “upper class family with no savings… and a student w/an entitlement complex”.
Good luck in college!</p>

<p>

Even sadder that you think you are ‘being screwed over by the system’ when your family income is too high to qualify for need based aid. Need based aid is for people with actual ‘need’. With such a high income your family is (rightly) not considered to have financial need - from here the choice about whether to use part of that income for school or not is down to your family.</p>

<p>Gee, and I was prepared to be flamed for being harsh.</p>

<p>thanks for having my back cc’ers!</p>

<p>I’m with you, Sue! I’m glad you said it because I was just biting my tongue–afraid of what I might say. </p>

<p>To the OP–be thankful for what you have. Many are just as deserving as you and don’t have nearly the options you have.</p>

<p>I’m sorry that my family doesn’t have any savings. </p>

<p>I’m sorry that my parents were FORTUNATE enough to come to the states</p>

<p>I’m sorry my parents became successful late in life. </p>

<p>I’m sorry that I ever dreamed of going to a good school. </p>

<p>And I’m sorry for ever making this thread thinking that people on this forum might be helpful</p>

<p>Happy now?</p>

<p>

Actually, china probably has better universities than those here. They’re mad hard to get into tho.</p>