Quote from LeeD:
Haha, close enough!
With all the aid available savers indeed end up footing the bill. Say, whether parents can pay for the colledge (or are eligible for grants) is determenined on the basis of their assets, not (past) income. So, those who spend it all may actually feel pretty secure.
On the topic of the Opening Post. People often get wealthy by pure luck... but they remain wealthy because they don't throw money away. This includes making full use of any aid available from the government and local authorities. So, getting food stamps fits the stereotype of a wealthy person very well.
not quite true when it comes to colleges in the US. it is a mix of asset and income test.
harvard university has a straight forward formula. below $60,000 family income it is zero tuition. between $120,000 and $180,000 it is ten per cent of the income. it is very fair in my opinion.