Originally Posted by intparent
Bostonian, the calculation is different if your kids are in college the same years (they still only look at 5% regardless of how many kids you have in college). I guess that is a bonus of having them close together.

Really, this is just the tip of the iceberg in terms of college topics. CC has thousands (literally) of threads on stuff like this, and also many very knowledgeable posters. There are a couple of people who are college financial aid professionals (work in the area) on the FA board that can cut right to the chase on stuff like this. If you want the straight scoop, that is the place to go.

Jon, not sure what you are saying. Ultimately we as parents and our students are responsible for paying for our kids' educations. No one owes us any financial aid -- by the time we are done our family will have saved about $250,000 to spread over two kids (starting when they were wee, so it isn't quite as painful as it sounds), plus we have and will pay out of current income as well. And our kids have saved and will work summers and in school for some expenses as well. Of course it will drain money you have saved. But everyone has the option of cheaper colleges (in state, community college with a transfer, living at home during college). And honestly, those are the options that most low income students do take, along with loans.

Yes, again.

Schrödinger's cat walks into a bar. And doesn't.