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~$78k post tax, means that someone likely needs to earn $120k or more in income to foot this bill. That’s an astronomical sum when you consider that the US medi
by malandrew 4y ago
~$78k post tax, means that someone likely needs to earn $120k or more in income to foot this bill. That’s an astronomical sum when you consider that the US median household income is about ~$71k. $120k is around 87th percentile.
- dragonwriter 4y ago> ~$78k post tax, means that someone likely needs to earn $120k or more in income to foot this bill. You seem to be assuming a 35% total tax rate at $120k gross income, which seems wildly high.
- dmitrygr 4y agoActually that’s low if you live in CA and are paying that state tax too
- reducesuffering 4y agoYou both should just do the calculation, as you're both incorrect. A single 120k income in CA will have 30% income taxed in total, leaving ~84k. https://smartasset.com/taxes/california-tax-calculator#KqAFYxsdZP https://smartasset.com/taxes/california-tax-calculator#KqAFY...
- banatan 4y agoThe high cost definitely makes it less accessible, but also remember that Stanford offers a huge amount of financial aid, so families that earn less than $150k pay zero tuition.