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Financial Planning / Paying For College

URL:  https://boards.fool.com/catherine-wrote-however-why-is-my-child-any-less-15528503.aspx

Subject:  Re: Parent vs Child Assets Date:  8/8/2001  4:08 PM
Author:  YZF1K Number:  4161 of 8558

Catherine wrote:
However, why is my child any less deserving of financial aid (or subsidized loans), because my husband and I go to work every day,and saved money to send our son to a decent school, than the kid whose parents are junkies or just idiots who never saved any money??

Means testing certainly sets up an odd incentive structure. I'm not entirely certain about the logic of a system that comes up with an "Expected Family Contribution" when the "Family" may have absolutely no desire to contribute a dime. There are some very hard questions involved. My family is going to do without a lot of things for the next 18 years so that, hopefully, we can pay our daughters' way through college no matter what. The likely result? No financial aid whatsoever, not even subsidized loans. What if we spent that money instead on new cars, and vacations, and a bigger house, and on and on? We have a higher standard of living than before and have a much better shot at subsidized loans, if not more aid. Is that really the way things should work?

I am sick-to-death of the liberal, hippie-dippie crap that gets spouted anytime anybody tries to legally get what they're entitled to. I pay plenty of taxes, and if I can get any financial aid for my kid, I'm going to take it.

Believe me, you're preaching to the choir when it comes to being sick to death of liberal, hippie-dippie crap. And there does seem to be a bit of an undercurrent to many posts on this board that some families "aren't the type" meant to be helped by financial aid even if those families' 100% truthful applications indicate that they are eligible for the aid or subsidized loans. However, I do think there is a distinction bewteen gaming the system in a legal way -- which I don't have a problem with; it only makes sense to have the application paint the most favorable picture possible -- and outright lying about what the money is for and how it will be used.

Maybe the original poster and his/her family really did do all those things. However, it is also a classic troll technique to tweak all the right issues (Porsche, food stamps, etc.) then step back and let others argue. I think the extra post to throw in the bit about the food stamps gives it away that that series of posts was just to push peoples' buttons.

-- Mark



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