Anonymous wrote:My parents did this. HHI of 300k in the early 2000s and didn’t save a penny. And wouldn’t co-sign for private loans. Found out when I’d already gotten in to my dream school.

Where did you end up? I’m sorry, similar story here. Can’t shake the resentment, years later.

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

What's M?

MIT

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

What's M?

My parents did this. HHI of 300k in the early 2000s and didn’t save a penny. And wouldn’t co-sign for private loans. Found out when I’d already gotten in to my dream school.

Anonymous wrote:

Anonymous wrote:My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

Did you know (through Net Price Calculator or other means) that she had a good chance of receiving a significant merit scholarship BEFORE applying to that school? Otherwise - if $40K was your limit - you could have had a very disappointed kid.

Yeah, I think they just wanted to brag about the scholarship.

I told my kid he can apply wherever he wants but not to fall in love with any one school. I've run the NPC on all of the schools and many of them are within reach with merit money and FA.

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Anonymous wrote:My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

Did you know (through Net Price Calculator or other means) that she had a good chance of receiving a significant merit scholarship BEFORE applying to that school? Otherwise - if $40K was your limit - you could have had a very disappointed kid.

MYOB.

I don't know any parent like this, OP.

They have all clearly directed their children to what post-secondary education they could afford. We've told our senior that if he can get in, we'll pay for whatever college he wants.

Money is the first conversation. We've all had it. No idea why you're hanging out with weirdos.

My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

What advice are they asking for from you?

Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

It may be workable through a combination of (529) savings, cash flow, and loans. That may not be their preference, but it may be possible. If their kid doesn’t get admitted to a pricey private, they’ve avoided the conversation. I’m not saying that’s a great way to do things, but it may be their thought process.

Why do so many UMC parents not just come right out and tell their rising seniors that there is no way in hell that they can afford to send them to schools that cost over $XX,000 dollars?! I have at least 4 friends and family members who for whatever reason didn't save enough to send their children to anything but the most bare bones priced college, but their children who are putting together college lists don't know this because their parents haven't told them.

Is it that the parents themselves are clueless about the actual prices and/or the fact that their incomes will make them ineligible for much financial aid at the public schools?

Is it that they think somehow it will be less painful for little Larlo to learn that he can't attend Vanderbilt or University of Miami at some later date instead of before he submits the application? Are they just willing to screw their family finances and borrow hundreds of thousands $$$$$$?

What gives? These are parents who have asked those of us with students who have gone through the admissions gauntlet of hell in the past couple of years for advice, so don't tell me to MYOB.