Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Two of our kids were accepted at Ivies, VT, and UVA. After financial aid, the cheapest option for each was the Ivy. Surprising to us because VT and UVA are bargains for in-state kids.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Two of our kids were accepted at Ivies, VT, and UVA. After financial aid, the cheapest option for each was the Ivy. Surprising to us because VT and UVA are bargains for in-state kids.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Yes, but OP specifically said this family has an income of $175,000 with 2 kids in college and one at home, and would be using loans for the whole thing. In other words, their parents would be contributing $0.00

If you're making $175,000 with 2 kids in college, then you won't be paying full ride at an Ivy. If you're making enough to pay full tuition at an Ivy and you can't cashflow any of it, then there's something wrong with your budgeting. I just ran the Princeton calculator at various income levels, with 0 savings/investments and 2 kids in college. I got to $470,000 before financial aid fell to $1,000. If you're making $470,000 and contribute $0.00, then something is really wrong, and not something like medical expenses, since the calculator takes those into account.

Not that there's anything wrong with going somewhere else, because you got better merit money elsewhere, but OP is judging this kid on where they apply, without having any idea of the real situation.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

An Ivy would provide essentially free tuition if parents earn < $150000. If parents earn > this, then they saved 0 for college.

I'm guessing they make around $175,000. On that income it's hard to save for college for 3 kids and provide them with a middle class lifestyle.

On that income, it's pretty certain that she'd get financial aid at an Ivy, especially if she's got a sister in college at the same time.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Yes, but OP specifically said this family has an income of $175,000 with 2 kids in college and one at home, and would be using loans for the whole thing. In other words, their parents would be contributing $0.00

If you're making $175,000 with 2 kids in college, then you won't be paying full ride at an Ivy. If you're making enough to pay full tuition at an Ivy and you can't cashflow any of it, then there's something wrong with your budgeting. I just ran the Princeton calculator at various income levels, with 0 savings/investments and 2 kids in college. I got to $470,000 before financial aid fell to $1,000. If you're making $470,000 and contribute $0.00, then something is really wrong, and not something like medical expenses, since the calculator takes those into account.

Not that there's anything wrong with going somewhere else, because you got better merit money elsewhere, but OP is judging this kid on where they apply, without having any idea of the real situation.

No, but the parents will be expected to pay something.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Two of our kids were accepted at Ivies, VT, and UVA. After financial aid, the cheapest option for each was the Ivy. Surprising to us because VT and UVA are bargains for in-state kids.

That's great. But you know anecdote isn't data, right?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Two of our kids were accepted at Ivies, VT, and UVA. After financial aid, the cheapest option for each was the Ivy. Surprising to us because VT and UVA are bargains for in-state kids.

That's great. But you know anecdote isn't data, right?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Two of our kids were accepted at Ivies, VT, and UVA. After financial aid, the cheapest option for each was the Ivy. Surprising to us because VT and UVA are bargains for in-state kids.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Yes, but OP specifically said this family has an income of $175,000 with 2 kids in college and one at home, and would be using loans for the whole thing. In other words, their parents would be contributing $0.00

If you're making $175,000 with 2 kids in college, then you won't be paying full ride at an Ivy. If you're making enough to pay full tuition at an Ivy and you can't cashflow any of it, then there's something wrong with your budgeting. I just ran the Princeton calculator at various income levels, with 0 savings/investments and 2 kids in college. I got to $470,000 before financial aid fell to $1,000. If you're making $470,000 and contribute $0.00, then something is really wrong, and not something like medical expenses, since the calculator takes those into account.

Not that there's anything wrong with going somewhere else, because you got better merit money elsewhere, but OP is judging this kid on where they apply, without having any idea of the real situation.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Yes, but OP specifically said this family has an income of $175,000 with 2 kids in college and one at home, and would be using loans for the whole thing. In other words, their parents would be contributing $0.00

If you're making $175,000 with 2 kids in college, then you won't be paying full ride at an Ivy. If you're making enough to pay full tuition at an Ivy and you can't cashflow any of it, then there's something wrong with your budgeting. I just ran the Princeton calculator at various income levels, with 0 savings/investments and 2 kids in college. I got to $470,000 before financial aid fell to $1,000. If you're making $470,000 and contribute $0.00, then something is really wrong, and not something like medical expenses, since the calculator takes those into account.

Not that there's anything wrong with going somewhere else, because you got better merit money elsewhere, but OP is judging this kid on where they apply, without having any idea of the real situation.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

That's BS. There are a huge number of families that do not qualify for financial aid and can't come up with the full amount of money the Ivies think they can. The solution is to not go there. If you can get into Princeton, you can probably get merit aid from a host of really good schools.

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.

Anonymous wrote:

Anonymous wrote:I have a niece who is attending an instate public and is taking out loans for the entire tuition. Her sister is now applying to colleges which include a few ivies. She is willing to to take out loans to fund the entire $280,000. This seems crazy to me. Do kids really do this?

Not at Ivies or comparable schools at the top end. They freely provide F.A. and several (most notably Princeton) won't even agree to process an undergraduate student loan application. There is no need, ever, for any Ivy undergrad who plans well to ever take out one dime in student loans, period.