Anonymous wrote:Honestly, I think it's perfectly acceptable for a parent to say they'll pay for the equivalent of in-school tuition and anything above that is on the child. Generous, even.

I'd be less concerned about an ENGINEERING student taking loans, BTW, than I would about one that wants to study journalism or theater or underwater basket weaving.

+1 Totally agree.

Think about job outlook for aero E. MEs are a lot easier to find jobs... As long as IS programs are ABET accredited engineering program, he should be fine.

The state schools he got into only offer mechanical, and while they are very closely related he wants aero.

Anonymous wrote:Honestly, I think it's perfectly acceptable for a parent to say they'll pay for the equivalent of in-school tuition and anything above that is on the child. Generous, even.

I'd be less concerned about an ENGINEERING student taking loans, BTW, than I would about one that wants to study journalism or theater or underwater basket weaving.

This is basically the direction we were going in. I would tell your kid how much they have to work with financially and have them rank the schools in order of where they want to go and then in order of cost. If they truly want to go there, they should take out some loans- I think loans within the federal limit are ok and are not life changing. (My husband has some and they are manageable)

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:we thought long and hard about this when our kids were small talked to a financial advisor and set things up so we lived within our means so our kids can 1. go to any school they wanted and b. pay for weddings and also a nice retirement.

you can get many grants etc you have a lot of research ahead of you but there is lots of money out there. He can also work at the school to get tuition deducted. He can also defer a year, take up residency in MD and done.....

How is this helpful?

it gives them solutions so the kid isn't drowning in debt half his life.

Yes but this is not helpful to the OP today. PP set up their plan when their kids were small-- good for them, they won't face this issue when their kids are college aged. But the OP can't implement this plan now.

not the PP but perhaps you missed the second half of her post. Agree the first part was braggy, but the second had some ideas.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:we thought long and hard about this when our kids were small talked to a financial advisor and set things up so we lived within our means so our kids can 1. go to any school they wanted and b. pay for weddings and also a nice retirement.

you can get many grants etc you have a lot of research ahead of you but there is lots of money out there. He can also work at the school to get tuition deducted. He can also defer a year, take up residency in MD and done.....

How is this helpful?

it gives them solutions so the kid isn't drowning in debt half his life.

Yes but this is not helpful to the OP today. PP set up their plan when their kids were small-- good for them, they won't face this issue when their kids are college aged. But the OP can't implement this plan now.

OP - terrible idea!

Anonymous wrote:

Anonymous wrote:we thought long and hard about this when our kids were small talked to a financial advisor and set things up so we lived within our means so our kids can 1. go to any school they wanted and b. pay for weddings and also a nice retirement.

you can get many grants etc you have a lot of research ahead of you but there is lots of money out there. He can also work at the school to get tuition deducted. He can also defer a year, take up residency in MD and done.....

How is this helpful?

it gives them solutions so the kid isn't drowning in debt half his life.

Honestly, I think it's perfectly acceptable for a parent to say they'll pay for the equivalent of in-school tuition and anything above that is on the child. Generous, even.

I'd be less concerned about an ENGINEERING student taking loans, BTW, than I would about one that wants to study journalism or theater or underwater basket weaving.

What are your instate options?

Wait for the FA package. Congratulate him on getting in. Let him savior the moment for a few days. Then have the conversation that matriculation depends upon merit aid. If UMD does not offer aid, everyone will have to look at different options.

Anonymous wrote:we thought long and hard about this when our kids were small talked to a financial advisor and set things up so we lived within our means so our kids can 1. go to any school they wanted and b. pay for weddings and also a nice retirement.

you can get many grants etc you have a lot of research ahead of you but there is lots of money out there. He can also work at the school to get tuition deducted. He can also defer a year, take up residency in MD and done.....

How is this helpful?

Tell him to bake out loans for the difference and get a job.

we thought long and hard about this when our kids were small talked to a financial advisor and set things up so we lived within our means so our kids can 1. go to any school they wanted and b. pay for weddings and also a nice retirement.

you can get many grants etc you have a lot of research ahead of you but there is lots of money out there. He can also work at the school to get tuition deducted. He can also defer a year, take up residency in MD and done.....

Sorry if this has been discussed. New here. My DC go into his #1 choice- UMD Engineering. We are out of state. He has gotten into a few of his in state schools with $ offers also.
He has ALWAYS wanted to go to MD. MD is easily 2x cost of our im state schools. he only applies to state schools "just in case."
I feel overwhelmed.