Our EFC is 500,000????

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

Congrats! You won a lifetime resentment award from your kid!!

Nope. My kids are smart enough to know that a higher price doesn’t equal a better education. There’s no reason for a good student who lives in VA to go OOS, unless they are looking to get far away from home

[Anonymous]

To make matters worse, schools do not necessarily meet EFC numbers. Ours did not. When we had two kids in school we were paying more and neither school offered anything beyond the 5K loan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

There are not enough student loans to cover this.


Cheapskate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

But you fail to understand you alone are blocking your kids from attending the better schools. If you and your spouse were unemployed no assets kids would get a free ride Ivy League if they got in. Instead you block them from that as you have the cash but refuse to spend it

[Anonymous]

Anonymous wrote:DS has been offered merit aid without filing FAFSA.

Merit aid came immediately after acceptance letters. FASFA not required. It was based on GPA and SAT. Many colleges have merit packages available as public knowledge.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

Congrats! You won a lifetime resentment award from your kid!!

DP But I doubt it. Virginia has an incredible array of public colleges and universities.

[Anonymous]

So if a family with EFC $500,000 had three kids who all are in private college that cost $90,000/yr, would they have to pay $270,000/yr for the overlapping years?

[Anonymous]

Anonymous wrote:So if a family with EFC $500,000 had three kids who all are in private college that cost $90,000/yr, would they have to pay $270,000/yr for the overlapping years?

Yes

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

Congrats! You won a lifetime resentment award from your kid!!

Nope. My kids are smart enough to know that a higher price doesn’t equal a better education. There’s no reason for a good student who lives in VA to go OOS, unless they are looking to get far away from home

There are plenty of OOS schools that can match or beat the price of VA public options. Saying "in state only" is dumb. Saying our budget = what an in-state school would cost makes sense. Then it's on the kid to search for schools that can fit the budget. FWIW, My DD applied to several OOS public and private schools. All ended up cheaper for us than William & Mary, the only in-state public she was really interested in. She's going to a private LAC that will cost us about the same as Virginia Tech.

[Anonymous]

Our EFC is 230k. We don’t even make that much 300k with both parents working + 2 million assets

[Anonymous]

Ours was $220K and i thought that was bad. What a lot of work for nothing!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

But you fail to understand you alone are blocking your kids from attending the better schools. If you and your spouse were unemployed no assets kids would get a free ride Ivy League if they got in. Instead you block them from that as you have the cash but refuse to spend it

We are saving for retirement so our kids won’t end up supporting us. The kids can borrow for college if they wish, but we can’t borrow for our retirement years!

[Anonymous]

You have assets, therefore, money to pay for school you are just choosing not to spend that asset/money on college. That is a choice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some schools merit scholarships still require FAFSA be completed. Got an even higher number when we did ours. Kid chose a different school with no merit. Never filling out a FAFSA again (unless the younger one is in the same position).

+1 I told DC go in state. We get zilch. Our EFC was something really high, too, not as high as OP's though.

I'm not paying $70k per year. We are UMC but we are trying to save fore retirement and another DC's college fund. College costs are insane.

Same here. DH and I both graduated from Va public universities in the late 80’s/early 90’s when tuition, fees, and room & board totaled around $10K/year. Now, those same schools are closer to $30k-$40k. We told our kids that VA has a lot of public options and if they want private or OOS, they will need loans.

Cheapskate.

I am cheap, but also very smart.

Paying more for something doesn’t make it any better.

Congrats! You won a lifetime resentment award from your kid!!

Nope. My kids are smart enough to know that a higher price doesn’t equal a better education. There’s no reason for a good student who lives in VA to go OOS, unless they are looking to get far away from home

There are plenty of OOS schools that can match or beat the price of VA public options. Saying "in state only" is dumb. Saying our budget = what an in-state school would cost makes sense. Then it's on the kid to search for schools that can fit the budget. FWIW, My DD applied to several OOS public and private schools. All ended up cheaper for us than William & Mary, the only in-state public she was really interested in. She's going to a private LAC that will cost us about the same as Virginia Tech.

That’s great, but did the OOS school guarantee renewal of the aid package for all 4 years? I’ve heard stories of students learning that they have to pay a lot more after freshman year due to not meeting certain requirements like GPA, number of credits, or program of study.

[Anonymous]

Anonymous wrote:You have assets, therefore, money to pay for school you are just choosing not to spend that asset/money on college. That is a choice.

It’s a wise choice. A college degree doesn’t need to be expensive to be good.