<p>Dad of 3 - that is only assuming they live long enough to receive it.The life expectancy of Black males is 64.8. The life expectancy of those in the bottom half of the population has risen less than a year in the past 30; whereas the life expectancy of those in the top half (like my mother) has risen five years. (and was significantly higher to begin with.)</p>
<p>The site is correct IF one lives that long. My mother receives literally infinitely more following retirement than the average Black male. But the problem is that too many of the latter are beginning to collect.</p>
<p>My great uncle lived to be 107. My grandma passed away at 90. He was very much upper class & she was firmly middle class. Neither were black males. I don’t believe the decisions being made are CONSCIOUSLY about race, just about ways to keep the “safety” net intact in a way that keeps the politicians in office. Personally, I don’t understand the huge aversion to closing loopholes that allow so many to avoid taxes and make the rest of us pay so much more than those who get the amazing & ridiculous breaks!</p>
<p>It really is tough working in public health & social services these days. So much competition for so few resources.</p>
<p>“Personally, I don’t understand the huge aversion to closing loopholes that allow so many to avoid taxes and make the rest of us pay so much more than those who get the amazing & ridiculous breaks!”</p>
Sounds overly pessimistic. If you look at the CDC site, [url=<a href=“http://www.cdc.gov/omhd/populations/BAA/BAA.htm]OMHD|Populations|BAA[/url”>http://www.cdc.gov/omhd/populations/BAA/BAA.htm]OMHD|Populations|BAA[/url</a>]
it says that African Americans “could only expect to live 73.1 years” and I doubt the men and women have such differing stats. Besides, if you look at those who have reached adulthood and actually contributed into SS, the life expectancy is even higher. </p>
<p>Your mom’s generation is taking a lot more real money from their children and grandchildren than they are taking from each other.</p>
<p>college is a big equalizer. For two families with 2 kids, one has 400k net worth and the other has 6 k, by the time both kids graduated from college both families have 0 net worth.</p>
<p>“If you’re bright enought to have a net worth of $400K, wouldn’t you be bright enough not to spend the whole thing?”
Tell me how you can game the system and get FA if you have 400k in the bank.</p>
<p>That’s part of the purpose of this website and one could find lots of ways to reduce college expenses and alternatives for paying for college. Anyone reading the Parent’s Forum for a few years should have run across many of those ideas.</p>
<p>Darn! That clever mini has us figured out. We want to rip off black males, make them die early and give us all their money so that we can live to be 100 and be rich!!!</p>
<p>We are finally outed. The big conspiracy. Shoot!</p>
<p>BCEagle – tell me quick how I can avoid paying a quarter of a million dollars to send my second kit to a nice private school.</p>
<p>As far as I can tell, she either goes to state U on a nice merit or one of the very scarce privates or non-instate U’s that would give her merit.</p>
<p>Many public schools are perfectly respectable places where the student can get a very good education. And if your in-state public university is not that good, some very respectable out of state public universities’ full price is considerably less than the amount you mention (e.g. Minnesota, Cal Poly SLO, Virginia Tech).</p>
<p>Also, some private schools are generous enough with need-based financial aid to where a fairly high family income may still be considered “needy” by them (if not by others).</p>
<p>"We pay for two kids in college almost completely out of current income. Little need to tap savings. "</p>
<p>Congrats! very few people can pay tuition exclusively from income after paying federal, state, FICA, Medicare, property tax, mortgage, insurance, utility and food.</p>
<p>Someone with net worth of $400k is unlikely to have it all just sitting in non-retirement bank accounts or mutual funds. I’d expect to see some home equity, maybe some retirement savings, a car. But OK, let’s assume that they’ve got all $400k in the bank, not in the student’s name. EFC calculations would include (if I’m remembering right) 5.6% of that $400k, about $22k a year. The rest of EFC would depend on income. Family of 4, income of $100k, $400k in assets in the bank, and voila, an EFC of just over $37k a year. If the kid gets into a school that meets full need, the family will certainly end up financially ahead of a 0 EFC family with assets of $6k. </p>
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<p>The student from the 0 EFC family will only get a full ride if they attend a school that meets full need, or if a school offers substantial merit aid. Most 0 EFC students don’t get full rides.</p>
<p>We did the same…but my entire income (read that again…all of it) went to paying college costs for the years both kids were in college. DH’s income paid the rest of our bills. I worked a professional job so that our kids could go to the colleges of their choice (my choice to do so). When they graduated, I felt like we won the lottery.</p>