Reply to Financial Aid --- can anyone get unsubsidized federal loans? Kid's contribution to college costs?

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[quote=Anonymous][quote=Anonymous]"It's wrong to tell your student that she has to turn down Amherst to attend a crappy school like the Univ. of Idaho because you'll need to fund her brother's tuition at Boise State)."

OMG! I'd hate both my parents and my loser brother for the rest of our lives if they did that![/quote]

My parents made my sister turn down Penn because they didn't think it was worth the price vs an in-state public with a strong program for her major. I got into several OOS privates but they didn't give enough merit aid to fit the budget my parents set. So I Also went to a strong public U. Both of us had great college years and good careers. We don't hate our parents. They were completely right IMO. Especially because my dad got laid off from his professional job while I was in college and never got another job at that level. I'm really glad they had not taken out loans for our education.

We've taken the same approach as my parents -- we set a reasonable budget ( would cover any in-state public or a lot of privates/oos public that give merit aid) and will pay up to that for tuition, room & board. We have that saved in 529s for each kid and they know anything left they can use for grad school. The kids work summers starting at 16 to cover personal expenses. DS is a freshman and also decided to get an on-campus job 2nd semester. His first choice school was also his least expensive option, well under the max budget.

When it comes to "skin in the game" I agree that if it's about motivation and appreciating the cost, loans don't really mean much. They don't seem real vs. putting in the time in a job and seeing the $$ leave your bank account.[/quote]

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