Posted by Worried Mom, a resident of the Midtown neighborhood, on Apr 30, 2010 at 3:40 pm
Thank you all who replied. We do not have savings to pay even for 25% tab for private college costs for both of our kids. We have a house in Palo Alto which we bought 4 years ago and we spend a very significant portion of our income on mortgage and property tax.
We save 10% of our earnings for retirement, we absolutely do not have room for college savings in our budget. How do families who jointly make around $250K a year before taxes manage to afford living in Palo Alto and save enough for 2 kids college education. I can’t get the math.
Thanks to Burbed reader Herve for this find. If you’re not outraged, then you should be. When did they start allowing families that make the “upper working class” salary of $250k to live in Palo Alto?
Truly, truly, outrageous.