Do you not let your kid apply to certain colleges based on tuition?

[Anonymous]

Anonymous wrote:My parents told me way back that my only option was to live at home and go to UMBC and if I wanted something more expensive, I was going to have to come up with the money myself. UMBC turned out to be an excellent school and I got so much out of my experience there. I went on to get a masters degree at a big-name school which was paid for by my employer. I have never felt that my state school degree was not good enough. I have already told my kids that UMBC or UMCP will be their likely school.

Honestly, if your kids want that big name on the resume, save it for graduate school. A masters only takes a year of full-time work (took me 3 years part-time).

This is a sensible approach, but bear in mind that merit aid at some private schools, or out of state publics, can bring the cost down to what UMBC/UMCP cost. My DC was awarded merit aid that brought our annual costs down to just about $1K more/year than UMCP.

[Anonymous]

Anonymous wrote:If she truly applied and was accepted early decision, she is bound and must attend that school. This is why people who need aid and whose enrollment is dependent on that aid do not/cannot apply ED.

My son is a senior and we have been very upfront about our budget and limitations for college funding. He has only applied to state schools and schools where he might receive merit aid. (We don't qualify for need based aid.) One of those latter schools is a stretch for merit aid and he understands that if he gets in there with no aid, he cannot go.

So to answer your question, we have not looked into or let him apply to schools we cannot afford.

Not true. If you apply early decision but it turns out that the financial aid package isn't enough for you to afford it, you can decline enrolling. This is the only way you can get out of not enrolling actually.

However, I think if you apply and indicate that you don't need financial aid, then if you get in, you're supposed to go no matter what.

[Anonymous]

Op, you probably didn't hear/or they didn't speak correctly re "Early Decision". Probably she applied early and she heard early (Early Action) Those whose world is intensely focused right now on college application/acceptances are going to hold you to exact terminology.

Anyway ~ final costs can vary widely and there really is no way to know until acceptance and scholarships (or financial aid) is awarded. DD's results varied from 1/2 off the tuition, to just a few thousand, to not getting admitted. A mix of privates & publics in/out of state.

[Anonymous]

My children can apply to every school under the sun. They will attend the one that offers the cheapest overall package - unless they plan on paying themselves.

[Anonymous]

My parents said they had X amount of money per year for me for school. If I wanted to go somewhere more expensive, I could pay the difference. I thought that was a great, fair approach, and you'd better believe I chose an in-state school (U.Va) versus anything else.

[Anonymous]

Anonymous wrote:My parents told me way back that my only option was to live at home and go to UMBC and if I wanted something more expensive, I was going to have to come up with the money myself. UMBC turned out to be an excellent school and I got so much out of my experience there. I went on to get a masters degree at a big-name school which was paid for by my employer. I have never felt that my state school degree was not good enough. I have already told my kids that UMBC or UMCP will be their likely school.

Honestly, if your kids want that big name on the resume, save it for graduate school. A masters only takes a year of full-time work (took me 3 years part-time).

For better students, private is often CHEAPER than state schools due to the merit aid. It is a shame that your lack of understanding of these scholarships may prevent your kids from exploring best fit universities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My parents told me way back that my only option was to live at home and go to UMBC and if I wanted something more expensive, I was going to have to come up with the money myself. UMBC turned out to be an excellent school and I got so much out of my experience there. I went on to get a masters degree at a big-name school which was paid for by my employer. I have never felt that my state school degree was not good enough. I have already told my kids that UMBC or UMCP will be their likely school.

Honestly, if your kids want that big name on the resume, save it for graduate school. A masters only takes a year of full-time work (took me 3 years part-time).

For better students, private is often CHEAPER than state schools due to the merit aid. It is a shame that your lack of understanding of these scholarships may prevent your kids from exploring best fit universities.

Yep. My three kids went to small privates. Our cost was just a bit more than a big public U in-state costs due to substantial merit aid. Instead of going to an in-state public, they got a small classes all four years, no TA's, great dorms, free study abroads (except for air fare) and hey, they all have jobs in their fields. My youngest son's "no name" college has one of the best cyber security programs in the country.

[Anonymous]

Anonymous wrote:My parents said they had X amount of money per year for me for school. If I wanted to go somewhere more expensive, I could pay the difference. I thought that was a great, fair approach, and you'd better believe I chose an in-state school (U.Va) versus anything else.

+ 1 (Berkeley in my case.)

[Anonymous]

NP here, but I'm moved to add ~ please know that not everyone prefers private. Not everyone prefers that for their child.

[Anonymous]

I would prefer greater class variety to small classes, and would prefer a major research university to a small private college. Everyone can applaud their preference, nothing wrong with that. However, private is not viewed by all as preferred.

[Anonymous]

Anonymous wrote:I would prefer greater class variety to small classes, and would prefer a major research university to a small private college. Everyone can applaud their preference, nothing wrong with that. However, private is not viewed by all as preferred.

I get that. I just think it is a shame that many people look at the initial price tag and dismiss what is potentially a great fit.

[Anonymous]

Sadly, applied and got in, but had to turn it down.

Older DD got into a NYC area school that offered a huge impressive sounding FA package with academic and sports awards. But it was only 75% of the cost and the remaining 25% was equal to in-state for us. The school aggressively recruited her (AA and Latina in an underrepresented major, somewhat usual sport) and even more aggressively pushed her to take private loans.

We had to say no.

She was pretty crushed. Wish we had not let her apply.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Early decision allows you an 'out' if the finances are impossible

Need-based, or merit-based?

I think insufficient need-based aid is an out, but don't believe that is so with respect to merit-based aid.

if the efc is unaffordable, then the student is released from the agreement to attend. Which is why ED is more geared for kids who have a close to zero EFC or who can pay full freight, vs the middle class

[Anonymous]

Anonymous wrote:I think a better strategy than banning kids from applying to certain schools is to be upfront about how much money they have for college. They can apply to any school, but in order to accept it has to fit the budget. Some school give generous aid to wealthy kids, and you don't know until you apply.

ate

This is how my parents handled it and I have told my kids (now in middle school) the same thing. I applied to a few state schools, and a few out-of-state, including a couple private schools, a state U, one Ivy. Got in everywhere I applied but no aid so I went to my first choice in-state university and was very happy with it. I knew the OOS schools were a long-shot from a cost perspective so I never got my heart set on them.

[Anonymous]

DC will apply to HYP (high school '17) and is highly competitive. Based on the college monies we have stashed now (started saving late), I am willing to sacrifice and give up 50% of my annual salary (after taxes of course) to pay the tuition.

For DC, this would be a wonderful opportunity if accepted. However, I will not pay full tuition for an out of state public university but would strongly considering paying for another good private.

My money, my choice, my kid.