Pretty shocking to see what could be done with $46,325. The first point here is to NOT look at sticker price of the college. I’ve explained why in the past so I won’t get into this for now:)
This article does make a good point as to how the federal methodology does disproportionality penalize the middle class. The formula is highly income driven. The formula will assess a family’s income between 22 to 47% (after taxes paid and a family income allowance). For many families, however, this is still a very huge burden on them. I think it’s only going to get worse. The changes being talked about in Washington will make the formula more intensive on the family income. Planning however, can help!
The new sticker-price to attend Grinnell and live on-campus, $46,325 could buy 52 round-trip plane tickets from New York to Tokyo. Or 3,750 DVDs, maybe 4,000, if that seems more practical $45,012 could pay for two and a half years at some top-tier state universities, like instate tuition at the University of Iowa. Even though [...]
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