So how does a two-Fed family that gets fired send a kid to college?

[Anonymous]

We selected a "what if" school. We have saved for colley, but what if something happens and we need the money for something else.

DC is accepted to an honors program with merit at an in state school that DC liked enough. If things get tight we can afford it and it's really bad they can live at home the last two years (I think living on campus the first two years is important).

[Anonymous]

Thanks this is OP, worried that a snapshot now of our full 529s and savings accounts won't reflect where we are when kid's a sophomore, perhaps.

[Anonymous]

Well you should have been saving their whole life. If you can't afford it for whatever reason, then the kid can pay their way through community college. Not everyone is guaranteed college.

[Anonymous]

Anonymous wrote:Well you should have been saving their whole life. If you can't afford it for whatever reason, then the kid can pay their way through community college. Not everyone is guaranteed college.

Get a life. It’s not so easy for everyone to save up hundreds of thousands of dollars. You don’t know what other expenses they’ve had, how long they’ve been feds, or anything else about them. Save your unhelpful moralizing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well you should have been saving their whole life. If you can't afford it for whatever reason, then the kid can pay their way through community college. Not everyone is guaranteed college.

Get a life. It’s not so easy for everyone to save up hundreds of thousands of dollars. You don’t know what other expenses they’ve had, how long they’ve been feds, or anything else about them. Save your unhelpful moralizing.

Most dual feds make 200-400k, more than many others. Some of it is lifestyle choices.

[Anonymous]

You do know in 2020 this happened to millions in private sector and no one cared.

[Anonymous]

These comments are just mean. We are a one fed and we are asking our child to pick in state or equivalent with merit and close by. Definitely should live on campus first year. After that year by year decision. It sucks because kid got into some good schools with merit that involve significant travel but that where we are.

[Anonymous]

If the money is in a 529 you use the 529. It’s not like it can be used for anything else. Simultaneously you petition for change of circumstance and apply for aid if not this year for the next year.

Were you really going to cash flow 30-90k every single year? You must have been saving?

[Anonymous]

It depends- if kid is already packaged, you appeal the package by explaining new circumstances. Get a new aid package from the school and use their expertise to access more state and federal aid.
If kid is not packaged, but accepted, go directly to bursar and get guidance to develop the package you need.
If kid not admitted yet, then do above once admitted and waiting for package.

[Anonymous]

When you're used to a certain lifestyle and suddenly have to change, it is really difficult OP. The answer is your kid might have to live and home and commute to a local state university or community college. I know when I was in college, I had no loans, nor did my parents pay so I had to take 2 buses to get to my local state university and 2 to get home. And, I worked 2 part-time jobs. Was it fun? No, it sucked. But, my degree afforded me the opportunity to have a great, wealthy life away from the dreadful midwestern town where I grew up. Good luck.

[Anonymous]

Anonymous wrote:We selected a "what if" school. We have saved for colley, but what if something happens and we need the money for something else.

DC is accepted to an honors program with merit at an in state school that DC liked enough. If things get tight we can afford it and it's really bad they can live at home the last two years (I think living on campus the first two years is important).

Please be aware that state schools are more expensive than privates when it comes to aid. If you explain your situation to a private they can usually give you a very good package, often covering some of room and board as well. They can then apply to be RA after second year to get free room and board. State schools just can’t do that. Don’t give up!

[Anonymous]

Anonymous wrote:These comments are just mean. We are a one fed and we are asking our child to pick in state or equivalent with merit and close by. Definitely should live on campus first year. After that year by year decision. It sucks because kid got into some good schools with merit that involve significant travel but that where we are.

agree. We're not feds, but things feel very shaky right now. A few years ago, both my husband's and my employers separately announced pending layoffs in the same week. It was terribly stressful. Let's have compassion for folks who are facing possible job loss.

[Anonymous]

Anonymous wrote:These comments are just mean. We are a one fed and we are asking our child to pick in state or equivalent with merit and close by. Definitely should live on campus first year. After that year by year decision. It sucks because kid got into some good schools with merit that involve significant travel but that where we are.

I don’t know why they are being mean, I’m sorry. In state may be pricier than a private. There are many programs that cover room and board, and don’t forget work study programs where student works part time and wages go to cover costs not covered by grants of scholarships (unless you-know-who dismantles that).

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well you should have been saving their whole life. If you can't afford it for whatever reason, then the kid can pay their way through community college. Not everyone is guaranteed college.

Get a life. It’s not so easy for everyone to save up hundreds of thousands of dollars. You don’t know what other expenses they’ve had, how long they’ve been feds, or anything else about them. Save your unhelpful moralizing.

No one is saying save hundreds of thousands of dollars. College that costs hundreds of thousands of dollars is for rich people. Feds are not rich people. This is what in state and community colleges are for.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well you should have been saving their whole life. If you can't afford it for whatever reason, then the kid can pay their way through community college. Not everyone is guaranteed college.

Get a life. It’s not so easy for everyone to save up hundreds of thousands of dollars. You don’t know what other expenses they’ve had, how long they’ve been feds, or anything else about them. Save your unhelpful moralizing.

+1. Every time this topic comes up in any context, the cretins come out of the woodwork in attempt to get internet validation for their “superior” life choices.