Looking back, do you wish your child attended the least expensive college?

[Anonymous]

We are on the verge of making a decision with our graduating HS senior, and he has many offers with varying merit aid offers (mostly public, but some privates) and because money is an issue for us, we would of course like him to attend the school that costs us the least over 4 years. Yes, these schools all offer different majors and school atmosphere and all that, but at the end of the day we as parents look at it like our child needs to make the best out of whatever situation they are being given, and if one school offers him a great package because he worked hard in HS and got great grades and besides it was him who chose to apply to these schools in the first place (even if some of these were likelies or safeties or whatever) he should attend whatever helps us pay the least. I'm not sure he necessarily sees it that way, but I'm also not sure it should be up to him to decide since he's not paying $ for it. Keeping in mind he's the oldest and we will have two kids behind him, one in college at the same time, I really need to set this expectation that college is what you put into it, wherever you go, but I'm not sure kids these days are being told that. I'm really asking this question not for those who have saved for college in full, but for anyone who is not... did you ever make this decision with your child and how did that go?

[Anonymous]

Oh god yes

[Anonymous]

Depends on the actual options including costs. Also would be helpful to know the student's intended major & desired career.

[Anonymous]

DS is attending his least expensive option but it was, fortunately, also his first choice -- Virginia Tech.

DD is not attending the least expensive, that would have been UMW for $17k. But her LAC at about $30k is still well within budget.

Neither kid applied to schools we knew had no chance of coming in under the maximum we were willing to pay.

[Anonymous]

Least expensive was a state u with full aid for 4 yrs. Declined and chose and ivy.

[Anonymous]

Anonymous wrote:We are on the verge of making a decision with our graduating HS senior, and he has many offers with varying merit aid offers (mostly public, but some privates) and because money is an issue for us, we would of course like him to attend the school that costs us the least over 4 years. Yes, these schools all offer different majors and school atmosphere and all that, but at the end of the day we as parents look at it like our child needs to make the best out of whatever situation they are being given, and if one school offers him a great package because he worked hard in HS and got great grades and besides it was him who chose to apply to these schools in the first place (even if some of these were likelies or safeties or whatever) he should attend whatever helps us pay the least. I'm not sure he necessarily sees it that way, but I'm also not sure it should be up to him to decide since he's not paying $ for it. Keeping in mind he's the oldest and we will have two kids behind him, one in college at the same time, I really need to set this expectation that college is what you put into it, wherever you go, but I'm not sure kids these days are being told that. I'm really asking this question not for those who have saved for college in full, but for anyone who is not... did you ever make this decision with your child and how did that go?

Did your DS understand that rubric for the last four years? If you and your spouse were not clear that the least expensive option was the number one factor, then it may be difficult to expect your DS to use that factor now to make a decision.

[Anonymous]

I think setting that expectation was the job for two years ago. Did you give your student a budget? Do other schools fall within that budget?

I think you are setting yourself up for a lot of resentment if you say “Great job getting those merit scholarships to Welcoming SLAC and Awesome Flagship, but Dad and I decided you are going to Last Choice Safety. Hey, you picked that school to add to your list (after we insisted you needed a safety), so really, this was your choice.”

[Anonymous]

Money is an issue for us, too and my kids college is 17k/yr. He will graduate with 20k in student loans, the rest was managed with grants and what we could pay out of pocket each year. My kid never had an expectation that he would be going to some expensive school, we always told him the plan.

[Anonymous]

Mine is at a SLAC with merit aid that brought the price down to what a VA state school would have cost. He knew that he needed to factor price into the decision and I'm glad he was realistic about it while he was applying.

[Anonymous]

No, but I wish I had.

[Anonymous]

Anonymous wrote:Money is an issue for us, too and my kids college is 17k/yr. He will graduate with 20k in student loans, the rest was managed with grants and what we could pay out of pocket each year. My kid never had an expectation that he would be going to some expensive school, we always told him the plan.

Right. My parents LMK when I was 7 that they didn't have money for college. I always knew I had to figure out how to make it happen. And they did cover their EFC, which was quite modest when I was in school, because they learned about FA along the way. But, again, I always knew I had to figure it out.

[Anonymous]

Anonymous wrote:Least expensive was a state u with full aid for 4 yrs. Declined and chose and ivy.

And? Would you do it again? Are you sticking with it, was the outcome as thought?

[Anonymous]

I had a child who graduated, and most of her college years were eaten by Covid. I do feel like we chose the college based on a lot of assumptions that actually did not come true. It had really interesting study abroad programs, but those were all canceled beginning her freshman year and had really interesting same norms but she spent nearly 2 years living at home with us so that didn’t really come true either. We liked the food in the cafeteria but again she spent a lot of time eating meals in our kitchen. I’m not really sure what the point of my post is excepted in someways my husband and I both to feel like we got cheated and didn’t get our moneys worth from the college experience but yeah, we paid the same.

[Anonymous]

No, not at all

[Anonymous]

Anonymous wrote:I had a child who graduated, and most of her college years were eaten by Covid. I do feel like we chose the college based on a lot of assumptions that actually did not come true. It had really interesting study abroad programs, but those were all canceled beginning her freshman year and had really interesting same norms but she spent nearly 2 years living at home with us so that didn’t really come true either. We liked the food in the cafeteria but again she spent a lot of time eating meals in our kitchen. I’m not really sure what the point of my post is excepted in someways my husband and I both to feel like we got cheated and didn’t get our moneys worth from the college experience but yeah, we paid the same.

everybody is in the same boat whose kid was in college during Covid. It is what it is.