Second Home and 529 Plan......

twoinanddone
Sat, 08 Aug 2015 20:54:57 +0000

Very. The $5500-7500 is the Stafford loan - almost everyone qualifies for it (US citizen, no drug arrests, etc are the basic requirements). That’s for federal aid. It is really unlikely you’d qualify for a Pell grant, work study, or other federal student aid. Incomes above $50k rarely do, unless you have multiple children in school, a job loss, special needs child, etc.

Stay around on CC. You’ll learn about merit aid schools and some good ways to plan tax benefits. You are in the stick price shock stage. It doesn’t really go away but you’ll learn to deal with it. The best thing to do is get out of the “Ivy or bust” mindset and learn about merit, state benefits, getting higher test scores, and some of the hidden gems out there.