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? asked in Dining OutGermanyLeipzig · 2 years ago

Is it true that financial aid is for the lower class and that the the middle class can actually afford college?

8 Answers

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  • ?
    Lv 4
    2 years ago

    Yes, it,s but an uneasy thought,may be some financial aid is not reaching,and middle class may be are lazy not to attend,for some also other reasons.

  • 2 years ago

    College is a scam. Find what you love to do and do it.

  • 2 years ago

    There's also the military 😊

  • ?
    Lv 4
    2 years ago

    Absolutely not. They used to be able to, but debt has become so normalized that we no longer assess the fair market value of goods and services, we only consider whether we can afford the monthly payments. We accept whatever astronomical cost they slap on it because it’s so far beyond what we could ever afford it becomes unreal, Monopoly money. Most of us will never be out of debt our whole lives.

  • Anonymous
    2 years ago

    do not feed the POS 11th grade troll

  • Median Household income in the country is around $57,000. Middle class would be between 2/3 and twice as much as the median income

    57000 * (2/3) = 38000

    57000 * 2 = 114000

    The average cost per year for education in the USA is $10K for in-state students and $26K for out-of-state students, or $40K and $104K for a 4-year degree. That's just tuition cost, and it doesn't account for housing, or lab fees, or books, or administration fees, etc...

    So if you're on the lower end of "middle class," then you're only pulling in $38,000 per year. After taxes, that works down to about $34K to $35K. Mortgage/Rent + Bills can get to around $1200 to $1300 per month. Assuming the former, that's $14,400 per year, leaving you (we'll say you have $35K per year after taxes) $20,600 per year to live off of. That covers food for your household, clothing, vehicle costs, etc... If you have 2 kids, then you need to be able to sock away $4K per year for their education, and you'll need to have no emergencies for 2 decades in order to make it work. I would say that for people on the lower end of middle class, you or your children will need financial aid in order to attend college.

  • Anonymous
    2 years ago

    Maybe, we don't know what college you're referring.

  • Anonymous
    2 years ago

    No, Middle Class is just as poor in reality when you take into account all of the household expenses.

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