Donut family: Pay for T10 or go to state for almost free

Anonymous
OP's kid was admitted ED to Brown. She is being unethical posting about a choice because she signed an ED agreement, kid got in with financial aid even, and UMD hadn't come out, so DC couldn't have been admitted there when OP posted. She should have withdrawn from UMD. It's not a choice at that point.
Anonymous
ED to Brown. She is being unethical posting about a choice because she signed an ED agreement, kid got in with financial aid even,


This. It flies in the face of what ED is all about!
Anonymous
Sooooo, if one were to have a lot of money in cash like OP, where do you put it so you don't get dinged by FAFSA?

-asking for a friend
Anonymous
A lot of terrible advice here. The benefits of Brown, especially for art history or similar major, will almost certainly not make up for the mountain of debt. The research on this is clear. Unless your kid is going to certain fields (e.g., business), and IVY degree doesn't REALLY give them all that much of a leg up. Some people are just so wowed by prestige that they think it's worth it. It's not. We're talking about maybe $160K or more in total difference. And your kid is choosing a lower paying field. Do you know how much more they'd have to make over time to make up $160K PLUS interest?

I strongly recommend that you listen to the advice to prioritize a good state school.

Anonymous
Anonymous wrote:Sooooo, if one were to have a lot of money in cash like OP, where do you put it so you don't get dinged by FAFSA?

-asking for a friend


You buy a house / pay down your mortgage if you have not done that. Many schools won't look at equity in your primary home.

Absent that, you can sign up for a whole life insurance policy which lets you stuff excess cash into those, although there will be a high cost of insurance in the early years. Schools don't consider life insurance (even those with high cash value).



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