Reply to What regrets to you have to the 2023 college cycle?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I should never have given in and let my child apply to a school that was beyond our financial means. Four of the school they applied to were within reach and one is close to $20K more a year. I honestly didn't think they'd get into the expensive one based on Naviance, and so I gave in. Well, they got in to all five and of course it's the crazy expensive one that my child has become totally fixated on. They are willing to borrow a fortune to go and nothing I say about not starting life in so much debt is sinking in. But I think that if I had put my foot down during the application process they would have looked elsewhere.[/quote]

You will have to pay the extra $20k yearly, not them. Are you going to take parent plus loans? You can still put your foot down! I did - it was hard, there were tears and silence, but now that kid is almost done, I am so happy we went with least expensive option. [/quote]

But I agree that they should have put their foot down earlier in the process (this is about regrets/what to do differently).  Very important to let your kids know the maximum you are willing to pay so they can adjust their list and not fall in love with too expensive schools
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FWIW a divorced parent I knew took their dc to the family CPA to explain why she could afford only in-sate Virginia and not the Tony private SLAC DC wanted. I thought that was a smart way to shift the burden of blame[/quote]

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