Big merit at safety vs full pay at reach

[Anonymous]

I had a similar choice back in the day and chose the full pay school (with a small need-based award). It was/is a top-3 SLAC and I got an excellent education. However, I also had significant debt and ultimately didn't go to graduate school because I didn't want to take on more debt.

My "safety" offered me honors college admission, in-state tuition, and additional merit money. I definitely feel like I made the wrong choice and regret not choosing the more affordable education at a well-regarded school.

Now, things have changed a lot and what was a "safety" 30 years ago is DD's ED reach school. I talked her through my choice and its repercussions and we ultimately agreed that she would focus on in-state schools (we're in VA, so plenty of great choices) that I could pay for 100%.

I also gave her the option of applying to SLACs and other private schools that might give her merit aid, but she wasn't interested in that tier of schools so I didn't push it even though I disagreed. We'll see how it goes!

[Anonymous]

Anonymous wrote:For those whose kids got merit, would you mind sharing where? My kid doesn't have a 4.0 but otherwise has good stats and we are looking for options.

Unfortunately, in your situation (the gpa), the lesser known slacs will give merit money but they are buying something that they want that will reflect well on the college when they report to USN&WR. DD got solicitations from Virginia Wesleyan and I think Trinity for "Presidential Scholarships" but they bought her name. She didn't apply there. Colleges will purchase lists of kids who have great scores (DD had a 34 ACT and a 36 on retake. Was valedictorian). DS, an eagle scout, also was called by lesser known slacs who wanted his stats.

[Anonymous]

I chose the full-tuition merit aid (many years ago) at a T75 university over an Ivy (with a little need-based aid). I was totally on my own to pay for college, so I couldn't see how I would be able to pay the difference. In retrospect I could have made it work. In terms of career and family life, I have done well, so it was a smart choice overall. I will confess (here) that I do sometimes get a chip on my shoulder when all the Ivy-degreed people around me make assumptions about me based on where I went to college. After all these years I should be way past that, but sometimes I am not.

[Anonymous]

Could he apply to the honors college at the safety school? My nephew chose a T100 honors college with a half tuition scholarship over a T50 school without any aid money.

[Anonymous]

You could defer admission to the reach school and have your kid work and earn money for the year

[Anonymous]

I’d consider asking dc to put some skin into the choice if she opts for the full pay reach - a small loan each year. That would help her think through whether the reach is “that” important to her, and would give you a little breathing room (you said you can “just” cover the costs) and you could always later pay off her loans for her if you can/want.

[Anonymous]

Anonymous wrote:For those whose kids got merit, would you mind sharing where? My kid doesn't have a 4.0 but otherwise has good stats and we are looking for options.

My kid got 25k+ from Case, Oberlin, Wooster, Bryn Mawr, Mt. Holyoke, Smith, Scripps, Lewis & Clark, and Occidental, and 15k from Macalester, American, and Northeastern w/ a 33 ACT and 3.9. Her cousin got similar amounts at Rhodes, Simmons, Kenyon (20k), Tulane, Dickinson, Washington & Jefferson, St. Olaf, and Chatham.
A very impressive classmate got 25k at Macalester and Grinnell and full-rides from UKentucky, UAlabama, and ASU.

[Anonymous]

Anonymous wrote:I’d consider asking dc to put some skin into the choice if she opts for the full pay reach - a small loan each year. That would help her think through whether the reach is “that” important to her, and would give you a little breathing room (you said you can “just” cover the costs) and you could always later pay off her loans for her if you can/want.

Skin in the game is silly with loans as they don’t start paying them until they graduate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’d consider asking dc to put some skin into the choice if she opts for the full pay reach - a small loan each year. That would help her think through whether the reach is “that” important to her, and would give you a little breathing room (you said you can “just” cover the costs) and you could always later pay off her loans for her if you can/want.

Skin in the game is silly with loans as they don’t start paying them until they graduate.

Not true! They have to sign off on the loans. I still remember when so. With squeaky voice was singing in an adjacent room and I heard “Wait! I have to pay this amount!?” Both kids knew exactly how much they were taking out each year for the FAFSA umsubsidized lian and DD remains very proud of the fact she is paying them down each month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those whose kids got merit, would you mind sharing where? My kid doesn't have a 4.0 but otherwise has good stats and we are looking for options.

My kid got 25k+ from Case, Oberlin, Wooster, Bryn Mawr, Mt. Holyoke, Smith, Scripps, Lewis & Clark, and Occidental, and 15k from Macalester, American, and Northeastern w/ a 33 ACT and 3.9. Her cousin got similar amounts at Rhodes, Simmons, Kenyon (20k), Tulane, Dickinson, Washington & Jefferson, St. Olaf, and Chatham.
A very impressive classmate got 25k at Macalester and Grinnell and full-rides from UKentucky, UAlabama, and ASU.

PP- your kid's stats are identical to DC's, who is applying to several of these schools now......was this recently?

[Anonymous]

Anonymous wrote:I chose the full-tuition merit aid (many years ago) at a T75 university over an Ivy (with a little need-based aid). I was totally on my own to pay for college, so I couldn't see how I would be able to pay the difference. In retrospect I could have made it work. In terms of career and family life, I have done well, so it was a smart choice overall. I will confess (here) that I do sometimes get a chip on my shoulder when all the Ivy-degreed people around me make assumptions about me based on where I went to college. After all these years I should be way past that, but sometimes I am not.

I've come to realize that it says so much more about them than me. Just had a dinner with a couple the other night and one of them attended Michigan Law. The dad graduated from an Ivy and he and another Ivy undergrad enrolled in the law program assumed that they would just smoke all their classmates from the Big 10 public universities. He said he realized after the humbling from his first test that the top students from public universities were as equally qualified if not more hungry than he and his fellow Ivy undergrad classmates.

I attended a small LAC for BA and went on to graduate near top of class at an Ivy for grad school. I don't bother to throw in the second point when folks respond with barely concealed derision about where I went to undergrad because it really is more about them cleaving onto a status due to lack of confidence or success in their subsequent lives.

[Anonymous]

Anonymous wrote:For those whose kids got merit, would you mind sharing where? My kid doesn't have a 4.0 but otherwise has good stats and we are looking for options.

Seton Hall and Temple were pretty good for my kid. They got their cash price down to what the family contribution calculators said we could pay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those whose kids got merit, would you mind sharing where? My kid doesn't have a 4.0 but otherwise has good stats and we are looking for options.

My kid got 25k+ from Case, Oberlin, Wooster, Bryn Mawr, Mt. Holyoke, Smith, Scripps, Lewis & Clark, and Occidental, and 15k from Macalester, American, and Northeastern w/ a 33 ACT and 3.9. Her cousin got similar amounts at Rhodes, Simmons, Kenyon (20k), Tulane, Dickinson, Washington & Jefferson, St. Olaf, and Chatham.
A very impressive classmate got 25k at Macalester and Grinnell and full-rides from UKentucky, UAlabama, and ASU.

PP- your kid's stats are identical to DC's, who is applying to several of these schools now......was this recently?

Yeah, my kid and the cousin and friend were in the high school class of 2020 and are current sophomores at their respective institutions. Hope this helps!

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those whose kids got merit, would you mind sharing where? My kid doesn't have a 4.0 but otherwise has good stats and we are looking for options.

My kid got 25k+ from Case, Oberlin, Wooster, Bryn Mawr, Mt. Holyoke, Smith, Scripps, Lewis & Clark, and Occidental, and 15k from Macalester, American, and Northeastern w/ a 33 ACT and 3.9. Her cousin got similar amounts at Rhodes, Simmons, Kenyon (20k), Tulane, Dickinson, Washington & Jefferson, St. Olaf, and Chatham.
A very impressive classmate got 25k at Macalester and Grinnell and full-rides from UKentucky, UAlabama, and ASU.

DC was offered 25K+ from Wooster, Kalamazoo, Kenyon, St. Olaf
15K from Macalester

[Anonymous]

DC has a 4.5 GPA and a 33 ACT...I didn't realize that merit aid might be in the cards for some of these schools...but I'm thinking that after last year, it might not be as likely....