Reply to Does anyone know how the college admissions results this year for students in the blair high school magnet program?

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Reply to "Does anyone know how the college admissions results this year for students in the blair high school magnet program?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]For useful results, you also need to know how many applied, not just where they are headed. Lots of high-achieving MCPS students prioritize UMD because it’s such a great financial deal.[/quote]

Exactly, usually about a third of the class ends at Ivies, but many who would or were admitted just can't afford it. There are a lot of doughnut-holed families. People even making decent money can't usually shell out half their take home pay fro college. [/quote]

My Blair kid (4.8 WGPA, 1600 SAT) didn't apply to elite schools because we couldn't afford them.[/quote]

That's a very unusual situation because many elite schools give steep discounts even to families earning $200k/yr.

[/quote]

I’m not the PP you are responding to but we are in the same situation. Our income is just below $200k but what you are missing here is assets. They only give you aid if you have “typical assets”. What they define as typical is not much. We don’t qualify for anything and yet our assets are largely for retirement though for various reasons not all in retirement accounts. Similar situation if you have a rental property - you are expected to sell it to pay for college even if it’s your entire retirement plan![/quote]

The. You do have a lot of resources……yes it’s fair to expect you to sell a rental or use savings.  [/quote]

I don’t have a rental and fully expected to use savings. I can’t use ALL my savings though and I don’t earn enough in this high cost of living area to pay out of my pay check. The amount that is considered “typical” savings when calculating that the free tuition promise is not transparent and seems to discount anyone with moderate savings. 95 percent of DCUM posters wouldn’t be eligible even with income under $200K.[/quote]

How much did you pay for your home and what’s your mortgage and income.  There is lower cost housing but you probably didn’t choose it. [/quote]

I paid $220k for my home, so you have lost that argument.[/quote]

So, why didn't you save more for college?  If your income is $100K it makes sense why you didn't save but with that mortgage, $200K makes no sense you didn't save a few hundred per kid.[/quote]

Oh jeez. We made way less than that until recently. Under $100k until the kids were in their teens. But why do you think we haven’t saved for college?!!!! We have about $350k for a junior and 8th grader. That’s an enormous amount! But it’s not enough for MIT or an Ivy for both of them.

It sounds like you’re not going to be happy until everyone in this thread spends every last cent and goes in to debt, preventing themselves from retiring until their 70s or 80s to send their kids to the most expensive schools available. No, most families can’t or won’t do that. It’s just not worth it. I have friends in big law earning millions a year, people who attended Ivies themselves deciding that it’s just not worth the money to spend nearly half a million per kid and then later fork out for graduate school. The more I discuss this with you, the more foolish i think you are for advocating that anyone should pay full freight.[/quote]

DP here. Not intend to criticize you, every family has their legitimate choices, but have you or child ever considered student loan? Biden waived a lot of the student loan, and honestly, it is very normal for college students to find a GA, TA or summer job/internship to pay off a portion of their costs. It's a good experience to teach them taking responsibilities as an adult. [/quote]

It’s so bizarre that you are all dumping on someone who doesn’t find spending $100k per year per kid feasible, when elsewhere on DCUM a poster was roundly attacked for believing that spending hundreds of thousands might be doable with “only” a few million in assets!

There is something about this site that just makes people argue with whatever the premise is[/quote]

Calm down. Don't treat every grass and tree as your enemy. I'm trying to give some practical suggestion. Firstly, there are plenty of low interests student loan options that your kids can borrow to cover up to 100% of the tuition once they start a university, and the low APR can be locked until a few years after graduation. The $5K parent loan ceiling sounds very weird. You can check with your school counselor or ChatGPT these days. Secondly, I'm meant to say college students can earn salary from numerous ways, not for your junior high-schooler who's about to enter the most stressful college application process. They can work part-time in college. Lastly, your kid can apply Ivies and wait to make decision until receiving the offer letters. They can for sure try if they'd love to. Whether the return-of-investment worths the value is what you and your child is another totally independent thing.[/quote]

You clearly don’t know what you are talking about. Trump limited public parent loans to $5k per year per child. This is widely known. Private low interest loans for college are not a thing.

Just stop with this. Many families either can’t afford $100k a year and don’t qualify for sufficient aid or don’t think it’s worth it to spend almost all of their income/savings on an education that can be had elsewhere for a third of the price.

Basically you have to have many millions or next to no savings and an income below $200k to be able to afford to attend your kids to ivies. [/quote]

The one poster does but its hidden in retirement and things like rental properties. [/quote]

In the poster you are referring to and AGAIN I do not have rental or investment properties.[/quote]

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