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College and University Discussion
Reply to "Why do donut hole families"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]One reason we complain is that we are also sandwich generation families, not just donut holes. Our families made less money when we were kids, so we received financial aid in college, took out student loans, then excelled in life, got good jobs, but spent so much $$$ paying off student loans that we didn't have enough cash to save for our own kids' colleges. However, we earn enough now to receive no financial aid, and can probably only afford in-state tuition and not full-pay private tuition, so that's why we're upset. And now some of us sandwich generation have to give money to provide for our aging parents (who were not earning much $$ to begin with) all while figuring out how to pay for our kids' educations. When I went to undergrad, tuition was $17k at a top 10/15 private university. Now that tuition is $60k. It's just sad. This is my personal story, so not everyone is in the same boat. We have saved enough in 529s for all 3 kids to go to in-state schools. We could use cash flow + 529 for one child if they get into a private worth paying full price for. This is where it's sad because we can't afford to do that for all 3, but oh well, what are the odds they'll all 3 be smart enough to get into a top 10/15 school anyway? There is no guarantee that they will have the same experiences that I had and I accept that.[/quote] I personally think you should be proud that you have saved enough for 3 kids to go to in-state schools and strong students in MD and VA have solid options. And your kids should be psyched that they can go to college debt free. As for the sandwich generation - we are all in this boat. [/quote] It should be all about preparing your kids. Ditch the mentality that rankings matter and focus on finding the best school for your kid---that includes fit, cost, being able to switch majors easily and having a variety of majors so your kid will eventually be satisfied whatever they choose. Any kid who is capable of getting into T20 school will excel at any school---it's really only the parents telling their snowflake they are so special and need to be "with other like minded individuals to succeed" that hampers the kid. No where in life will you be only with others who all got 1600 and 4.0UW. You will work with all types of people and soon learn everyone has something to offer. Sooner your kid recognizes this, the sooner they will excel and be genuinely happy. College is a great time to start this, if you have not already done so in MS/HS while growing up [/quote]
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