How do you grapple with the cost of expensive colleges?

[Anonymous]

Anonymous wrote:Given all the options out there I simply do not believe a college degree is unobtainable for the majority of the MC and UMC provided they have either save or are smart and strategic about the the schools their DC applies too.

My DD was rejected from UVA and W&M, and South Carolina was a safety choice but in the end better for us financially and probably better for her academically as it has a better program in her major than either of the VA top 2.

Also, don't believe anything that the schools tell you about last joint at the whole package. They heavily weigh test scores and GPA. My DD had a 3.7 unweighted GPA full IB diploma, 1420 SAT (33 ACT) and has started her own successful business and won numerous state and national awards in her ECs and for academics and was rejected by seven schools.

I am happy she is going to Carolina, getting out of the Northeast pressure cooker, prestige bubble and will get out and be with real folks. Plus, I get a School with a football team I can root for - Go Cocks!

This is just astonishing to me that someone with these credentials, which are impressive, couldn't get into U.Va. or W&M. The other schools much have been IVy's or far reaches also.

[Anonymous]

Schools that rejected DC:

Columbia
UVA
W&M
UT Austin
URochester
Georgetown
NYU

Accepted only to two safety schools with aid: Miami OH and Carolina

[Anonymous]

But the video gaming kid with no ECs but the perfect GPA whose parents sent him to cram school got into URochester.

[Anonymous]

We have a 220K HHI and pay 60K to send our kid to an ivy. We live like we make 100K. We fully fund our retirement account. we have a Very modest house purchased 20 years ago in a working class neighborhood, drive old cars, take one vacation at a local beach per year, buy clothes at consignment stores and TJ Max. We are happy with our life style. He is thriving at school and loves learning. Others may make other choices, which is fine by me.

[Anonymous]

Anonymous wrote:We have a 220K HHI and pay 60K to send our kid to an ivy. We live like we make 100K. We fully fund our retirement account. we have a Very modest house purchased 20 years ago in a working class neighborhood, drive old cars, take one vacation at a local beach per year, buy clothes at consignment stores and TJ Max. We are happy with our life style. He is thriving at school and loves learning. Others may make other choices, which is fine by me.

You have one child, correct?

I thought so.

[Anonymous]

No we have two. The second one is four years younger so they will not be in college at the same time.

[Anonymous]

Anonymous wrote:Are you planning to use just your savings to pay for college? I don't what other expenses you have but 30k per year from savings and another 30k from earnings is affordable for us and we have the same HHI.

We are also URM and will pay for our kid if she gets into a top school. I think how you handle it is based on what you value. Plenty of people don't think it's worth it. For our family, it is.

Another URM and paying $34k this year out of pocket and a grant to cover the rest. I elected not to get a loan so DC (and I) will graduate debt free. The FA office said if my salary doesn't have a significant change the next 3-years, the grant will most likely stay the same with adjustment for tuition increase.

A major sacrifice but it's worth it.