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Reply to "I’ve been honest with my daughter about what we can afford but…."
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[quote=Anonymous][quote=Anonymous]Correct. It's insane to tell your kid to apply when there is no realistic way that the parents can pay for it. I'd be that OP probably has a HHI of $250K. Clearly a good HHI but not one that generally allows a DC resident (with the associated cost-of-living) to pay for $85K/year for college for two kids back-to-back. However, it's way too much to qualify for financial aid at any school (Princeton, Harvard included). There is zero way these schools are going to magically come up with aid. I'm in this income bracket as are most of many of my friends in DC. We don't send our kids to Amherst or Northwestern or Harvard because we can't afford them. There is a whole slew of kids at Walls and Wilson (Jackson Reed) who go to lower ranked schools because their parents don't have the $80K+/year for these school but because they're in the $200K+ income range they do not qualify for aid. The kids who do attend are either 1)wealthier 2) poorer. Plenty of both in DCPS. [/quote] OP here. Thank you for posting. And yes, you are right. My stats match those you mentioned above. So then what do you do? Where does your child apply? The push for public is strong because of DC TAG and no need based financial aid, but she wants to see if she can get into harder schools knowing we can only give her about $30K/yr. Why not attend a fantastic public school who pays a strong student like you to attend is my thinking? Why be in a sea of high achievers at a place like Princeton only take out loans that force you into debt?[/quote]
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