
We never had a college fund. We just can't afford it, we're living paycheck to paycheck as it is. That said, we're a solid middle class family (probably viewed as wealthy outside of big cities like DC). How do people in this situation pay for college - can DC get loan amounts for everything we can't cover? |
Yes, your child can get loans. I am one of five - parents worked low-paying jobs and didn't have enough money for our student lunches in school let alone college tuition. We all got loans and are paying them back now. Those of us that got great grades, also got some grants/scholarship money. Before moving here to this area, I had never heard of any other way of financing college (aka never knew anyone whose parents just paid their tuition for them). |
I am similar to 13:13 - each of my siblings figured out a way to pay for college. My oldest brother went to a service academy, I took out a ton of loans, younger brother got a significant athletic scholarship.
Just an FYI - when your child's college of choice determines parent's contribution, it will be significantly greater than what you think is realistic. There might still be a gap between what your child might qualify for through loans and what you are able to contribute. |
If by any chance your child is a great enough student and/or good enough athlete to be recruited -- the Ivies plus Stanford give incredible packages. |
The Ivies do not give merit based scholarships. |
seriously? someone asks about how to pay for college and the suggestion is Ivies?
I'd go for 2 years at a community college, and then transfer to a "big" school. Classes are a lot less expensive, often smaller class sizes, and your student could work to pay for it, or do work/study or something. Then, when he or she transfers, they can take out loans for the more expensive university experience. While it's possible to pay for school on student loans alone, it sucks to later be saddled with the debt as a young(ish) person just starting out. |
But several give a full ride to families with income under $100k. If the OP has $0 college savings maybe she falls under that income limit. |
Not trying to pick a fight or anything, but seriously, middle class and no college savings??? Do you have cable tv? Do you have a cell phone? Do you purchase coffee at Starbucks? Gym membership? Thermostat set above 68 in winter? Below 72 in summer? That should get you started on ideas for how to pay for at least some of kids college. |
I worked in a strip club to pay my tuition. |
This is one of the many reasons I worked instead of staying home. |
I agree with going to community college route. Many schools give some scholarships based on the performance and completion of an associates degree. This would also allow the child to live at home and have a part time job so when they go away for the last 2 years, they might have saved some money to help them get by on. Student loans are always an option, but it's best to save them for when you need them. |
I never said the Ivies gave merit-based scholarships. I'm saying if a kid can get into an Ivy and the parent's don't make much-- the aid packages are superior. |
Agree with this. They also give some financial assistance up to about $200k in income. |
This might have been a joke, but I do know somebody who did this in Baltimore. I woudn't recommend it for any of your kids. |
all private schools (including the very expensive one where I teach) offer scholarships --both need-based and merit. |