Skip to main content

View Diary: Obama ad highlights Romney's plan for young people: 'Borrow money if you have to from your parents' (75 comments)

Comment Preferences

  •  I didn't mean to suggest (3+ / 0-)
    Recommended by:
    jessical, VClib, vcmvo2

    that the poor were "lucky."  Just that for really low income families, there is much more in the way of grants than there is for middle income families.  Middle income families have to rely almost entirely on family income (FAFSA) and loans.

    •  what I was trying to say (2+ / 0-)
      Recommended by:
      luckylizard, Abelia

      (though I am at my FAQ recommended maximum five pissy un-rec'd comments) requires a bit more self disclosure.  In my first year back, I had income to report.  In my second, I was poor as a churchmouse per FAFSA.  In both cases I was an adult student, so what would end up as parental contribution was the amount not covered -- what I or the school needed to make up.  I didn't really want to fess up to the poor as a churchmouse in year two part, but there it is.

      And the results -- in terms of grant/loan ratio -- was backwards(!)  How much in grants and how much in loans depended more on the school and their financial aid approach than on my putative "wealth".

      When I first went to school, 30 years ago now, it was I think a lot closer to what you describe.  I think we've had the high costs/high loans system in place for long enough now that FAFSA is going to have an absurd "make up this" amount for almost everyone.  How that is handled will vary by school, but they generally assume anyone can get the loan to feed their machine, and so they are more inclined to stick everyone -- middle class and poor -- with a large student contribution and some measure of ruinous loan.  And this will vary by school.

      ...j'ai découvert que tout le malheur des hommes vient d'une seule chose, qui est de ne savoir pas demeurer en repos dans une chambre.

      by jessical on Tue Aug 14, 2012 at 11:18:11 AM PDT

      [ Parent ]

      •  But I think it's definitely true that (2+ / 0-)
        Recommended by:
        VClib, jessical

        the feds (i.e., the FAFSA) absolutely assume that most kids who go directly from high school to college "borrow" at least a substantial amount of the money from their parents (the family EFC).  That was my point.  For middle class kids, the FAFSA is VERY unrealistic, and assumes that parents will devote almost all disposable income to "lending" their kids money for college.  So, Romney's deal about "borrow the money from your parents" is pretty much what the feds expect middle class kids to do.  

        The difference between the EFC (the part they borrow from their parents) and the cost of attendance is made up through loans in the student's name, which the student is ultimately responsible for.

        •  They are assuming your parent's have something (2+ / 0-)
          Recommended by:
          sethtriggs, Blue Waters Run Deep

          to give. They assume that if you manage to have anything nice at all, regardless of what you did to acquire it, or how long it took, that this is some secret signal that you got gold doubloons in your basement. It's stupid in the extreme.

          For someone returning to school that is an adult with children it's beyond scary that they pretend our single income household is wealthy. I haven't been back, even though I am very close to graduating. I just do not have the cash right now. And I think if someone suggested otherwise, I might have to done some studded gloves.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site