10-Year Horizon

[Anonymous]

Anonymous wrote:Honestly I would move to VA

This right here. My kid went to Potomac School a few years ago. Stats well in line with students who got into UVA and above those for WM, but rejected UVA and WL at WM. The only difference? They were in-state. So you not only lose the tuition advantage, but it's also at least twice as difficult to get admitted out of state. If I had to do it over, I would have raised my kids in VA.

[Anonymous]

Things to know:

1. Cost of attendance in-state to UMD and UVA are about 30K this year, although some programs can be more expensive (I believe there's an engineering one at UVA that's 48K). Costs go up every year.

2. Some kids with very high GPAs, very high test scores and multiple AP courses were REJECTED from both this year. These state flagships will only get more selective as private universities become more and more out of reach for the middle class. My son is going to a school that's 85K a year, on a scholarship that reduces the price to 65K. Still out of reach for most people. Many privates are moving into that price range this year, and some are more than 90K. It's not easy to get aid so generous that prices become comparable to in-state colleges. Financial aid is not as generous as you may hope and includes annoying work study and loans.

Things to do:

1. Move to MD or VA, what fits better for your commute if you're working in DC. Your kid will be eligible for in-state tuition.

2. Get your kid into the top range of grades and scores!!! Otherwise they won't have a chance at the state flagships (UMD, UVA and William & Mary), and will have to fall back on the lesser-known state colleges that currently you've never heard of.

3. Talk to your child before high school about your financial situation and what it means for their college options, so they're not disappointed. Your kid can apply to some private colleges when the times comes, with the understanding that they can't go without significant aid.

[Anonymous]

Anonymous wrote:Honestly I would move to VA

+1 Maryland schools are really limited. UMD. Blah. And I am in MD but not going there.

[Anonymous]

Anonymous wrote:Things to know:

1. Cost of attendance in-state to UMD and UVA are about 30K this year, although some programs can be more expensive (I believe there's an engineering one at UVA that's 48K). Costs go up every year.

2. Some kids with very high GPAs, very high test scores and multiple AP courses were REJECTED from both this year. These state flagships will only get more selective as private universities become more and more out of reach for the middle class. My son is going to a school that's 85K a year, on a scholarship that reduces the price to 65K. Still out of reach for most pople. Many privates are moving into that price range this year, and some are more than 90K. It's not easy to get aid so generous that prices become comparable to in-state colleges. Financial aid is not as generous as you may hope and includes annoying work study and loans.

Things to do:

1. Move to MD or VA, what fits better for your commute if you're working in DC. Your kid will be eligible for in-state tuition.

2. Get your kid into the top range of grades and scores!!! Otherwise they won't have a chance at the state flagships (UMD, UVA and William & Mary), and will have to fall back on the lesser-known state colleges that currently you've never heard of.

3. Talk to your child before high school about your financial situation and what it means for their college options, so they're not disappointed. Your kid can apply to some private colleges when the times comes, with the understanding that they can't go without significant aid.

The bolded is so true. It has been pretty sad. My kid DID get into some great private universities but we make too much for aid but not enough to afford $90,000 a year for school. There isn't even that much in the 529 and we started it the day DC was born. It just doesn't make sense. So, we are off to the highly rated state university that she likes. Even OOS, it is half of this price for living and tuition. It's crazy. Those schools are only accessible for those given good aid or international students paying in full - that's why the colleges like them. It's not a good situation. Yes, the public schools will just become stronger because the middle class just cannot afford these tuition prices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Honestly I would move to VA

This right here. My kid went to Potomac School a few years ago. Stats well in line with students who got into UVA and above those for WM, but rejected UVA and WL at WM. The only difference? They were in-state. So you not only lose the tuition advantage, but it's also at least twice as difficult to get admitted out of state. If I had to do it over, I would have raised my kids in VA.

Yes. I have thought of that recently too. Didn't think much of it until we started this college chaos. We are in Montgomery County. She loved William & Mary because it was smaller and more manageable than UMD, where she was also accepted. Good School. But waitlisted at W&M.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DC-TAG covers $10,000 to any public university per year, though it was supposed to bump to $15,000 with the last Biden bill, but it hasn't reflected yet for next year.

DC-TAG will also cover up to $2,500 for local schools like Georgetown, AU or GWU.


The original intent was to be the delta between in state and out of state tuition, but the tuition costs have escalated so dramatically that it wasn't able to keep up.

I do not believe it covers any privates like that anymore. Only HBCUs. But I could be wrong?

Yes, you are wrong.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DC-TAG covers $10,000 to any public university per year, though it was supposed to bump to $15,000 with the last Biden bill, but it hasn't reflected yet for next year.

DC-TAG will also cover up to $2,500 for local schools like Georgetown, AU or GWU.


The original intent was to be the delta between in state and out of state tuition, but the tuition costs have escalated so dramatically that it wasn't able to keep up.

I do not believe it covers any privates like that anymore. Only HBCUs. But I could be wrong?

HBCUs are both public and private. In this area Howard University is an example of a private HBCU. Bowie State University is an example of a public HBCU.

[Anonymous]

Anonymous wrote:We are DC residents and have two kids in public schools. We only chose publics that offered great merit aid. Most publics do not, therefore the 10K in DC TAG is not that advantageous. So do your homework and look at schools that offer good merit aid, which can change between now and 10 years from now but still good to take a look now because you can glean some trends. In terms of whether your current nest egg is enough? I can only say keep saving! Many families are in the "make too much, but not enough" scenario, so rarely qualify for federal financial aid (free money). But some schools will offer their own aid packages even if you get rejected from the federal aid. There is no easy answer. Don't stop saving, save what you can, and hope your child does well enough in school, has enough extracurricular activities, and definitely applies to privates that offer merit aid.

OP here. Thank you for this insight. Can you share which public s are offering good merit aid right now? I am understand the landscape can change, but a starting point is good.

[Anonymous]

There is also a new income cut off for DCTag too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have 10 years until our first child goes to college. We currently have $60k saved in a 529, with the goal to be able to cover tuition, room and board at a public university. The wrinkle in our plan is that we are DC residents, so do not have direct “in-state” access to a public university system like residents of MD and VA.

So DC resident parents with children in public universities, how did you navigate the college tuition? Any insights for changes on the horizon and what we should be aware of for a child entering college in 2033?

The first thing you should do is disabuse yourself of any notion that your DC should go to any public university. You will benefit from a demographic cliff and better merit aid at privates than now exists.

OP here. What demographic cliff? Please explain. Thank you.

Not the PP but in certain areas of the country (new england is the most affected by this), the number of teenagers living in those states is sharply falling off. There are not enough students to fill the seats at colleges in those states. As a result, a lot of privates are 1) throwing massive amounts of merit aid at good students to fill their seats and keep pipelines open with their high schools and 2) are giving a leg up to students from outside of new england.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are DC residents and have two kids in public schools. We only chose publics that offered great merit aid. Most publics do not, therefore the 10K in DC TAG is not that advantageous. So do your homework and look at schools that offer good merit aid, which can change between now and 10 years from now but still good to take a look now because you can glean some trends. In terms of whether your current nest egg is enough? I can only say keep saving! Many families are in the "make too much, but not enough" scenario, so rarely qualify for federal financial aid (free money). But some schools will offer their own aid packages even if you get rejected from the federal aid. There is no easy answer. Don't stop saving, save what you can, and hope your child does well enough in school, has enough extracurricular activities, and definitely applies to privates that offer merit aid.

OP here. Thank you for this insight. Can you share which public s are offering good merit aid right now? I am understand the landscape can change, but a starting point is good.

Midwestern and Southern schools

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are DC residents and have two kids in public schools. We only chose publics that offered great merit aid. Most publics do not, therefore the 10K in DC TAG is not that advantageous. So do your homework and look at schools that offer good merit aid, which can change between now and 10 years from now but still good to take a look now because you can glean some trends. In terms of whether your current nest egg is enough? I can only say keep saving! Many families are in the "make too much, but not enough" scenario, so rarely qualify for federal financial aid (free money). But some schools will offer their own aid packages even if you get rejected from the federal aid. There is no easy answer. Don't stop saving, save what you can, and hope your child does well enough in school, has enough extracurricular activities, and definitely applies to privates that offer merit aid.

OP here. Thank you for this insight. Can you share which public s are offering good merit aid right now? I am understand the landscape can change, but a starting point is good.

Midwestern and Southern schools

Ones in Wyoming, New Mexico, Montana, Nebraska, Nevada, Arizona & the Dakota’s too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are DC residents and have two kids in public schools. We only chose publics that offered great merit aid. Most publics do not, therefore the 10K in DC TAG is not that advantageous. So do your homework and look at schools that offer good merit aid, which can change between now and 10 years from now but still good to take a look now because you can glean some trends. In terms of whether your current nest egg is enough? I can only say keep saving! Many families are in the "make too much, but not enough" scenario, so rarely qualify for federal financial aid (free money). But some schools will offer their own aid packages even if you get rejected from the federal aid. There is no easy answer. Don't stop saving, save what you can, and hope your child does well enough in school, has enough extracurricular activities, and definitely applies to privates that offer merit aid.

OP here. Thank you for this insight. Can you share which public s are offering good merit aid right now? I am understand the landscape can change, but a starting point is good.

Midwestern and Southern schools

Ones in Wyoming, New Mexico, Montana, Nebraska, Nevada, Arizona & the Dakota’s too.

Also New England, New York, Pennsylvania, and Delaware. And Maryland and Virginia (though not UVA/WM/VT).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are DC residents and have two kids in public schools. We only chose publics that offered great merit aid. Most publics do not, therefore the 10K in DC TAG is not that advantageous. So do your homework and look at schools that offer good merit aid, which can change between now and 10 years from now but still good to take a look now because you can glean some trends. In terms of whether your current nest egg is enough? I can only say keep saving! Many families are in the "make too much, but not enough" scenario, so rarely qualify for federal financial aid (free money). But some schools will offer their own aid packages even if you get rejected from the federal aid. There is no easy answer. Don't stop saving, save what you can, and hope your child does well enough in school, has enough extracurricular activities, and definitely applies to privates that offer merit aid.

OP here. Thank you for this insight. Can you share which public s are offering good merit aid right now? I am understand the landscape can change, but a starting point is good.

Midwestern and Southern schools

Ones in Wyoming, New Mexico, Montana, Nebraska, Nevada, Arizona & the Dakota’s too.

Also New England, New York, Pennsylvania, and Delaware. And Maryland and Virginia (though not UVA/WM/VT).

Oh, and WVU, which has a merit chart on its website.

Basically, your kid can go to college. It’s just a question of how much of a premium you want to pay for prestige.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are DC residents and have two kids in public schools. We only chose publics that offered great merit aid. Most publics do not, therefore the 10K in DC TAG is not that advantageous. So do your homework and look at schools that offer good merit aid, which can change between now and 10 years from now but still good to take a look now because you can glean some trends. In terms of whether your current nest egg is enough? I can only say keep saving! Many families are in the "make too much, but not enough" scenario, so rarely qualify for federal financial aid (free money). But some schools will offer their own aid packages even if you get rejected from the federal aid. There is no easy answer. Don't stop saving, save what you can, and hope your child does well enough in school, has enough extracurricular activities, and definitely applies to privates that offer merit aid.

OP here. Thank you for this insight. Can you share which public s are offering good merit aid right now? I am understand the landscape can change, but a starting point is good.

UAlabama, University of Pittsburgh, Oklahoma, UCF
https://talk.collegeconfidential.com/t/merit-scholarship-from-top-colleges/2102238/25
https://talk.collegeconfidential.com/t/links-to-popular-threads-on-scholarships-and-lower-cost-colleges/1613211