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Forum
-> Household Management
-> Finances
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amother
OP
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 Tue, Dec 19 2023, 11:25 am
I max out my Roth contributions every year.
Do the tuition committees count that as savings when asking for a discount?
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amother
Burlywood
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Tue, Dec 19 2023, 11:31 am
The application for the scholarship asks how much is in our IRA, but I don't think it ever affected how much of a discount they gave us.
I think they understand that saving for retirement is important and not an extra, especially for people like dh and myself whose jobs do not have pensions
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amother
Hydrangea
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Sun, Dec 24 2023, 12:08 pm
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They don't take your balance into account, but they will look at how much you contribute annually to determine scholarship awards.
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amother
NeonPurple
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Sun, Dec 24 2023, 12:23 pm
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Depends on the school. There’s one school a family member sends to that sent out a letter essentially stating that tuition takes priority over saving for retirement. I think most schools are a little more nuanced in their judgements.
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amother
Darkblue
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Tue, Dec 26 2023, 5:41 am
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It will depend on the school but years ago we were denied a scholarship because we had a large retirement fund (because we started contributing at age 21) and because we did not have credit card debt (because we lived within our means). It's left a bitter taste in my mouth even ten years later. We left the school and found a less expensive school which actually was a better fit for us anyway.
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