1. Not all universities take the full amount of 529 savings off the top in calculating “expected financial contribution.”
2. The income of the non-custodial parent is included in financial-aid calculations.
Nevertheless, it is shocking how much middle-class families are expected to pay toward college costs, and how little of the total assistance distributed is in the form of merit-based aid.
“Nevertheless, it is shocking how much middle-class families are expected to pay toward college costs, and how little of the total assistance distributed is in the form of merit-based aid.”
No, it’s not. At least if you think as a conservative. The ENTIRE GOAL of the left-wingers that run our colleges has ALWAYS BEEN to punish the rich...and to them, the rich is anyone above the federal poverty level. So they have FINALLY achieved their long-term goal, which was to charge tuition based on family income - you make more, you pay more - that simple (and, by the way, try to think of anything else priced that way). Of course they couldn’t say that outright, so they took an indirect route to the same place. They simply have a very high “sticker price”, but give discounts to those that ‘qualify’, due to ‘hardship’.
Do you see the message...when Harvard and the rest of the Ivory League stated that there would be NO MORE MERIT-BASED scholarships (about 2 years ago), they had finally achieved their dream...from their early LSD days...and there is NOTHING we can do about it, since they OWN the schools.