what is considered low income?

what is considered low income?

Posted in the Dexter Forum

collegemom

United States

#1 Aug 13, 2008
What do you consider "low" income for a family of four in this area? My husband's income is around 55K per year and I do not qualify for a pell grant, we pay my tuition by saving the money or using credit cards. I am trying to avoid taking out student loans but it is getting harder to pay this money out of pocket. It may seem like 55 K per year is a lot of money, but with the current sky high gas and food prices it is not as much as it used to be. I think if the price of gas is going to continue to go up the government should revamp the pell grant guidelines.
agree

Chesterfield, MO

#2 Aug 13, 2008
I totally agree! Middle class isn't what it used to be!
my thoughts

Malden, MO

#3 Aug 13, 2008
depends on number of people in your family; a single person making 55k per year is not low income, a family of 5 with single income of 55k is not real good.

For this area I think many would possibly consider 20k or under as low, 20-30k as average, 30-45k as above average, and so on, but it really depends on the number of family members.
aardvark

Dexter, MO

#4 Aug 13, 2008
You are better off getting student loans than putting your tuition on a credit card.
JDS

Dexter, MO

#5 Aug 13, 2008
aardvark wrote:
You are better off getting student loans than putting your tuition on a credit card.
I agree, when creditors are looking at you, there is good credit and bad credit. A mortgage is good credit a visa with balance is bad. furniture put on credit I would consider bad but a car payment would be good. But, definately i would get a student loan rather than put tuition and fees on a credit card. that makes no sense at all.
JDS

Dexter, MO

#6 Aug 13, 2008
collegemom wrote:
What do you consider "low" income for a family of four in this area? My husband's income is around 55K per year and I do not qualify for a pell grant, we pay my tuition by saving the money or using credit cards. I am trying to avoid taking out student loans but it is getting harder to pay this money out of pocket. It may seem like 55 K per year is a lot of money, but with the current sky high gas and food prices it is not as much as it used to be. I think if the price of gas is going to continue to go up the government should revamp the pell grant guidelines.
$27,000 for a family of four qualifies for food stamps. That says alot of the local economy doesn't it
economist watcher

Dexter, MO

#7 Aug 13, 2008
So, basically if you're not making at least $12.50 an hour in Dexter working 40 hours a week, you are low income.

Wow, that puts alot of our "upper crust" in the low income bracket, doesn't it....LOL LOL LOL>>>
Money Man

United States

#10 Aug 15, 2008
Personally if a married couple doesn't gross at least a hundred grand I wouldn't call them middle class.
Bone Head

Temple Hills, MD

#11 May 14, 2009
I'd like to know how do you classify a single retired person 68 on a $30,000 fixed income with no bills, lives in an apartment, saves regular with $18,000 in the bank. Oh, they did this the last 3 years that they have been retired.
jimenez

United States

#12 Oct 23, 2011
Is 36000 considered low income for a family of 5 in california?

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