Value of an Education

lizzardfire
Tue, 29 Aug 2006 18:24:21 +0000

Yes and no, Joe. My parents don’t have the money for it, but they could have the money for it. Thus, I get no financial aid. Basically, if my parents spent less on cars / insurance / houses (we just bought a new house two years ago and my parents buy new cars about every two years as well) and they depleted their retirement savings (my parents’ retirement savings are not in retirement accounts–they are mostly in stock, so they do count for financial aid purposes) they could afford to contribute enough to pay for Caltech.

Unfortunately for me, my parents like their standard of living, so they contribute to my education less than a fourth of my EFC.