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College and University Discussion
Reply to "I genuinely don't get saving for college for kids"
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[quote=Anonymous][quote=Anonymous]OP's plan might work because -- (a) she only has one child; (b) she does not seem super concerned about the prestige of the college; and (c) her daughter is a high achiever. DH and I have 3 kids, and they do fine in school, but are not academic super stars by any means. My DS is a 12th grader, and we recently filled out the Common App that many colleges use. It asks if you plan to apply for financial aid. We figured it helped our DS that we were able to check "no" to that box because we have 529s for each of the 3 kids (thanks to my in-laws). It may help him a bit in the admissions process that he is full pay. That's not really fair to have "full pay" count toward admissions, but [b]perhaps my DS would be subsidizing another student who is a better student but does not have the $$ to pay for this college[/b]. Even my DS (with a 3.1 GPA and similar ACT score) is getting offered some merit aid from (not well known) colleges. So that suggests that, if you have a high-achieving child and are not too picky about the college, it might work out for OP.[/quote] Oh my. I was with you until you talked about subsidizing another random student who can't afford college by paying full price for your own. It doesn't quite work the way you think it does. Your ability to pay full price is what's actually inflating higher ed costs and keeping more poorer kids out of college. Not that it's your fault, it's just the current system. [/quote]
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