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College and University Discussion
Reply to "Newly donut-hole family"
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[quote=Anonymous]We have a very high stats kid at an excellent public. We had similar problems to Op, but different. Moved and bought a house, then the RE marked tanked and we lost a fortune on the house we were selling. It took years to get above water on the new house. I had a serious medical condition, and was unable to work for several years. But as we hit MS and I returned to work, out income shot up. So now we are formerly donut hole. We sat down with each kid at the beginning of HS. Showed the, what was in their college account, and gave them a projection of where we expected it to be. Gave them a rough idea of what we planned to pay out of income. They are both well covered for instate VA, and have good OOS options. Not Ivys and SLACs with no merit aid, but options. Most of the OOS public’s where we could mostly full pay, or close. Or privates with decent merit aid. Older DC is looking at pair, Rochester, CWRU, midwestern SLACs (Kenton, Oberlin, Wooster, Grinnell, Macalaster, St. Olaf)— all excellent in his areas of interest. Applying to WUSTL and Rice as super reaches. Is it perfect? Nope. Do I wish I could tell my kids the sky is the limit? Yep. Could I let them go anywhere by tapping the home equity we are finally accusing and retirement? Probably. Do I think it’s fair that some schools offer zero merit aid, and effectively lock a portion of high achieving kids out? No, I don’t. Even if merit aid is limited, hard working upUMC kids should phase a shot. The ability to apply and compete for enough merit aid to make these schools possible. But, it is what it is. And is feel like my kid at least has good choices we can swing without loans. [/quote]
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