Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just make sure your kid doesn't apply to schools that don't offer merit aid. This is most top50 schools.

You'd be surprised at how many people here have $90k/year for any school so your kids' friends will be applying to all of them without a second thought.

This. I'll never forget talking with a friend about where our kids were applying, and she got a concerned look on her face when I named the schools on DS's list. She said, "I feel like you aren't aiming high enough for Larlo." (He was an excellent student.) I said, "We're aiming for schools we can afford," and it was like it had never occurred to her that 2 government employees might not be able to swing $70k/year for 2 kids.

Two government employees can make 150-450k a year. You can pay for state college with that.

reading is fundamental.

cash flow out of current income.

Some ideas to cut a year or even a semester from college, which can be substantial savings:

If they’re looking at state schools, look at which APs or even CLEPs they give credit for. (For example, it may be possible to sit for a CLEP foreign language test and get credit. Or it may be better to take AP U.S. History instead of AP Gvt.)

Consider dual enrollment while student is still in high school. You can pick guaranteed transfer classes for the state school. One of my kids took 6 cc credits during a summer and it was quite helpful.

If your student is military minded, consider the service academies.

You can always have your child start at a community college and transfer to the 4 year school.

Kids can work in high school and college to pay their expenses.

Also, don’t get them a car - the insurance and car payment can really add up.

Anonymous wrote:

Anonymous wrote:Our 529s won’t be enough to cover full tuition for 4 years but we also don’t qualify for financial aid. I’m assuming we’re not alone. If you’ve been through this, how did you ultimately finance things? Did you take out loans or did you have your kids take out loans? What kind of loans? Did you try to make up the difference with current income? We’re still a few years out but running the numbers has me a bit freaked out.

I have a side hustle. Trying to cash-flow it. Cut back on 401k contributions.

This is my plan. Original plan was go back to work and cash flow to supplement 529. Then DH passed away (sigh).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just make sure your kid doesn't apply to schools that don't offer merit aid. This is most top50 schools.

You'd be surprised at how many people here have $90k/year for any school so your kids' friends will be applying to all of them without a second thought.

This. I'll never forget talking with a friend about where our kids were applying, and she got a concerned look on her face when I named the schools on DS's list. She said, "I feel like you aren't aiming high enough for Larlo." (He was an excellent student.) I said, "We're aiming for schools we can afford," and it was like it had never occurred to her that 2 government employees might not be able to swing $70k/year for 2 kids.

Two government employees can make 150-450k a year. You can pay for state college with that.

Well exactly. And that's what we did. Our kids didn't apply to any of the top private schools (which is what my friend meant about not aiming high enough).

I don't care about school ratings. I care about what we can afford and good fit.

Anonymous wrote:OP here - we’re definitely telling the kids they should expect to attend in-state state school or possibly out of state state school if it’s an amazingly better program or fit. They know our ability to pay tuition beyond in-state is limited. I appreciate everyone’s insight!

Then, where is the issue. Ours have known since they were little we expect college and we can afford and saved for a state school and why we don't do a lot of things others do, like vacations, etc is to save that money.

In state school for undergrad or out of state/private if they get merit. That’s what we’ve budgeted for.

They can get loans for grad school.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just make sure your kid doesn't apply to schools that don't offer merit aid. This is most top50 schools.

You'd be surprised at how many people here have $90k/year for any school so your kids' friends will be applying to all of them without a second thought.

This. I'll never forget talking with a friend about where our kids were applying, and she got a concerned look on her face when I named the schools on DS's list. She said, "I feel like you aren't aiming high enough for Larlo." (He was an excellent student.) I said, "We're aiming for schools we can afford," and it was like it had never occurred to her that 2 government employees might not be able to swing $70k/year for 2 kids.

Two government employees can make 150-450k a year. You can pay for state college with that.

Well exactly. And that's what we did. Our kids didn't apply to any of the top private schools (which is what my friend meant about not aiming high enough).

Anonymous wrote:

Anonymous wrote:Just make sure your kid doesn't apply to schools that don't offer merit aid. This is most top50 schools.

You'd be surprised at how many people here have $90k/year for any school so your kids' friends will be applying to all of them without a second thought.

This. I'll never forget talking with a friend about where our kids were applying, and she got a concerned look on her face when I named the schools on DS's list. She said, "I feel like you aren't aiming high enough for Larlo." (He was an excellent student.) I said, "We're aiming for schools we can afford," and it was like it had never occurred to her that 2 government employees might not be able to swing $70k/year for 2 kids.

Two government employees can make 150-450k a year. You can pay for state college with that.

Anonymous wrote:Just make sure your kid doesn't apply to schools that don't offer merit aid. This is most top50 schools.

You'd be surprised at how many people here have $90k/year for any school so your kids' friends will be applying to all of them without a second thought.

This. I'll never forget talking with a friend about where our kids were applying, and she got a concerned look on her face when I named the schools on DS's list. She said, "I feel like you aren't aiming high enough for Larlo." (He was an excellent student.) I said, "We're aiming for schools we can afford," and it was like it had never occurred to her that 2 government employees might not be able to swing $70k/year for 2 kids.

Just make sure your kid doesn't apply to schools that don't offer merit aid. This is most top50 schools.

You'd be surprised at how many people here have $90k/year for any school so your kids' friends will be applying to all of them without a second thought.

Anonymous wrote:OP here - we’re definitely telling the kids they should expect to attend in-state state school or possibly out of state state school if it’s an amazingly better program or fit. They know our ability to pay tuition beyond in-state is limited. I appreciate everyone’s insight!

We told our kids they could go anywhere they wanted as long as it didn't cost more than W&M (highest priced VA state school). That meant there was no point in applying to private schools that don't offer merit aid.

Anonymous wrote:We're going to do either in-state, merit or affordable out of state public and do a mix of 529 and cash flow. The goal is for it to be comfortable, no loans, no big dent into savings. It will impact college choice. Dh had HUGE student loans and we do not want that for our kids at all.

This. Our high-stats kids ended up at a mid- range SLAC with merit aid and at an in-state university. We paid with savings from 529s and the balance our of cash flow. No loans, no changes to retirement savings. It wasn't always "comfortable," but it was doable.

Go ahead and prepare your kids now for the fact that they will not have carte blanche, any school they can get into they can attend. You have a budget. Just say now to the overpriced schools unless they will give you a serious discount.

OP here - we’re definitely telling the kids they should expect to attend in-state state school or possibly out of state state school if it’s an amazingly better program or fit. They know our ability to pay tuition beyond in-state is limited. I appreciate everyone’s insight!