Reply to College applications -- apply to $$$$ schools or not?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Has nobody heard of student loans? It doesn't have to be all or nothing: OP can pay for the amount OP is comfortable, and OP's kids can pay the rest.

Assuming OP's kid gets into multiple schools, let the kid decide based on the various price points. [/quote]

I personally don’t think anyone should take loans if there is a reasonable school they can attend without loans. [/quote]

NP-I agree, as someone who started off in life with loans. Our kids are at flagship. And I also think letting kids decide is a bad idea: You can have a thoughtful, responsible child, but they cannot possibly grasp the reality of loans, expenses adults face because they just don't have the life experience or have had these responsibilities. Establishing parameters for them which are going to be optimal for you and for their future self is really important.

t[/quote]

I disagree. While you can certainly try to rationalize with the child and make some suggestions, it seems wild to me to completely close the door to absolute top level colleges without at least seeing the numbers.  If the Delta is 400k to an absolute top flagship (ie full ride) is vastly different than say a 100k Delta to a lower tier public school. But you can't know the exact delta a priori. Personally I would have gladly taken out a medium sized loan to go to an ivy and would have begrudged my parents if they didn't even give me the option to apply.[/quote]

That was you, at a time when going to an Ivy was somewhat affordable even with loans. It's vastly different now, especially with flagships having risen in rank. If you can seriously get into an Ivy, you can get into a highly ranked public with merit. But that's just if we are discussing loans. OP's child will not need loans.[/quote]

How do you know OPs kids won't get merit based aid at the ivys? And OP basically said they were comfortable paying X amount. Why would you not at least allow the kid to explore above X?

And I say this as someone in basically OPs situation. We have a fair amount in a 529 to comfortably afford public. If my kids want to explore private with the possibility of loans we are absolutely going to let them. Admittedly if they get into a top tier public and lower tier private we may have to steer them in a particular direction, but we can't know the actual options until they've heard back.[/quote]

Ivies to not give merit aid, only financial. But I just don't think loans are relevant to op's situation regardless of where her dcs go. They can pay as they go + use college savings.[/quote]

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