Anonymous wrote:We are one of the lucky few who pay full price ($90k). Too much real estate to qualify for financial aid, and no merit. HHI was $175k, but now $120k. Started with $275k in a 529. Blowing through that. Kid knows this is all they get for undergrad and grad. They are trying to graduate a year early.

Serious question--if they know they want/need graduate school, why would they not go somewhere that costs less? And save some $$ for grad school?

Anonymous wrote:Op.
What is needed for merit scholarship?

DP:

Any good student can find merit. You simply need to go to a target or Safety school (not a reach).

My 1220, 3.5UW, no AP kid got 35% of tuition (for all 4 years) at 2 schools ranked in the 80s and got 75% of tuition for one ranked about 120-130.

My 1500/3.96UW/8AP kid got 75% of tuition at CWRU for all 4 years---they turned it down, but if they had needed the money, that is where they would be (it would have been ~$30K/year total).
Had we needed the money, they could have gotten a lot more merit at many schools in the 75-100 range

So merit exists outside the T30 or so schools, you just need to go where they want your kid, and where your kid is at/above 75% for the school stats. Then the money will likely flow

We have 100k for the 9 year old and less for the 6 year old. We put $25k for each pretty early and mostly watched it grow. Grandparents contribute a little each year.

We have enough in our 529s to cover both our kids for any undergrad and graduate school tuition, public or private, they decide to attend. However, they will certainly have skin in the game, which they should, and will have to pay their housing costs.

Anonymous wrote:My 3 kids will probably get around $70-80k each from 529s. I don't have any cash flow and cost of living keeps going up, so the rest will be on them, unfortunately

In the same boat over here. We've started conversations with our kids early to help manage their expectations when the time comes.

I bought a prepaid plan and told my kids that anywhere else depended on aid. I definitely could have earned more in the market -- but I had a lot of peace of mind knowing that college was secure. One kid used up the prepaid and the other had just a couple of thousand left over.

We have $94k in a 529 for a 10th grader. For our income level that's pretty good even though it's not much compared to what others report here.

We are focused on maxing out a 403b and 457b to reduce income to get a good set up for FAFSA and financial aide. We are trying to push our reported income down to $130k. It seems to be the sweet spot for us in FAFSA calculations in combination our 529. It wont affect in-state prices much but it might make out of state public universities an option. (Obviously most private colleges will use the Profile and see our savings, but that will be a roll of the dice combined with other factors about our kid.)

Once you make over $160k in reported income you no longer qualify for a federal tax deductions of $2500. HHI income under $80 likely qualifies for Pell grants and other high need financial aide.

Anonymous wrote:We have 550k in 529s for a third and fifth grader. Not adding anything else. May also use 10k a year for private high school. Assume it will be in 800-1m range when they are ready for college.

Lol

If college becomes that expensive, don't even bother.

Anonymous wrote:

Anonymous wrote:Op.
What is needed for merit scholarship?

Some schools give merit scholarships aka discounts to everyone. Read the book "The Price You Pay for College" by Ron Lieber to understand college pricing

OP.
thanks for the recommendation.. gotta read!

520k for 6th grader and done. Hoping to not use a lot of it and cash flow some so can pass down to grandkids. It just depends if kid wants to do more past college.

We are one of the lucky few who pay full price ($90k). Too much real estate to qualify for financial aid, and no merit. HHI was $175k, but now $120k. Started with $275k in a 529. Blowing through that. Kid knows this is all they get for undergrad and grad. They are trying to graduate a year early.

My 3 kids will probably get around $70-80k each from 529s. I don't have any cash flow and cost of living keeps going up, so the rest will be on them, unfortunately

Anonymous wrote:Op.
What is needed for merit scholarship?

Some schools give merit scholarships aka discounts to everyone. Read the book "The Price You Pay for College" by Ron Lieber to understand college pricing

600K for an 8th grader and a junior. Not adding anything else. We will cash flow the difference. Right now adding to retirement and brokerage accounts. Good chances that one of them will go in state. Our instate is ~$160K for 4 years, so figure we can pay one private and one in state with the 529. If both go to private, then we will just cashflow.

Op.
What is needed for merit scholarship?