2 years at CC with your child working PT and then transfer to state school. Taking loans out isn't horrible. Just make them manageable for repayment. Every single person I know except one took out loans. The one who didn't got a full ride.

Anonymous wrote:

Anonymous wrote:Yes, DC did - $100,000 over four years but I'd rather not say where. One of the little known secrets is that College Board and ACT sell their scores. So if your child scores very high and has listed some qualities that a particular school wants (on the questions starting at the top of the tests), then schools can buy the lists and solicit. DC participated in well known leadership program during the summer so received unsolicited offers from military academies. I'm assuming that list was purchased or newspapers were just scanned. DC scored extremely well on the ACT so has been receiving "pre-application" offers of scholarships. But they are not from schools DC wants to attend. The schools either need the high ACT scores to boost their ratings on the US News & World Report or they need males or they need minorities, etc.

OP here. $100K over four years will not meet our budget at a private college. Most cost $60K or more now, even the relatively small, not very selective ones.

Oh, I am sorry.

Anonymous wrote:

Anonymous wrote:Yes, DC did - $100,000 over four years but I'd rather not say where. One of the little known secrets is that College Board and ACT sell their scores. So if your child scores very high and has listed some qualities that a particular school wants (on the questions starting at the top of the tests), then schools can buy the lists and solicit. DC participated in well known leadership program during the summer so received unsolicited offers from military academies. I'm assuming that list was purchased or newspapers were just scanned. DC scored extremely well on the ACT so has been receiving "pre-application" offers of scholarships. But they are not from schools DC wants to attend. The schools either need the high ACT scores to boost their ratings on the US News & World Report or they need males or they need minorities, etc.

OP here. $100K over four years will not meet our budget at a private college. Most cost $60K or more now, even the relatively small, not very selective ones.

Can DC get a job in the summers to help pay and also some loans?

What about state liberal arts colleges like New College of Florida or Truman State?

Or Midwestern liberal arts colleges like Knox or Kalamazoo?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DS did, but he is a musician.

Where?

Oberlin

Nice!

If you are adamantly opposed to loans, please make sure that your child is well aware that he will be going to whichever school awards him the best package. Choice flies out the window if finances are the sole concern. That can be hard for kids to stomach if they have personal favorites. He is not going to stand out for merit aid with a 3.8 and what will likely be mediocre SAT scores (if you use PSAT as a predictor). I think he should look at smaller schools in other areas that will be looking to attract out-of-state students to boost their diversity numbers.

And FWIW loans are not the end of the world. I moved home after graduation (helps that I lived near a major city's job market - which our kids here do as well) and applied what would have been money wasted on rent to pay off my loans. Had them all paid before I got married.

I'm not that fond of the College Board but this is a decent research tool where you put in what you're looking for (including money), and you'll get options, some 100% match. Not foolproof but pretty good generalities.

https://bigfuture.collegeboard.org/college-search

I'm an economist. It's certainly logical and financially sound to take out low amounts of loans in general. Your child's future earnings as a result of being a college graduate will double on average, so taking out loans of under 20 k (total) is really a no brainer, and 40 K is probably fine for some majors. Also, it gives your kids some skin in the game.

That said, I agree that a theater major will probably not want to go into a lot of debt. Actor's Equity has something like a 90% unemeployment rate. He/she will probably end up being a public school teacher or drama therapist.

Anonymous wrote:OP, my situation is similar. Out of pocket maximum is $30k/year. DC does not want to go in-state but will if ABSOLUTELY necessary. DC wants to leave the area for college, and I understand. I always regretted not going away to college (fell in love, ugh, and stayed behind while friends left) so we will send out applications where there is a chance of possible money. You got to be in it to win it.

If you can, get your hands on the latest edition of Peterson's Four Year Colleges. There are over 2900 colleges in that telephone-size guide some financial information in it. Great resource and cheaper from Amazon.

That should be *telephone-book sized guide*

https://www.petersons.com/college-search/college-guide-four-year.aspx

OP, my situation is similar. Out of pocket maximum is $30k/year. DC does not want to go in-state but will if ABSOLUTELY necessary. DC wants to leave the area for college, and I understand. I always regretted not going away to college (fell in love, ugh, and stayed behind while friends left) so we will send out applications where there is a chance of possible money. You got to be in it to win it.

If you can, get your hands on the latest edition of Peterson's Four Year Colleges. There are over 2900 colleges in that telephone-size guide some financial information in it. Great resource and cheaper from Amazon.

OP, my radically different suggestion would be to not apply to any private schools that would not be substantially better than your state options. There are hidden costs of sending your child out of the area - besides plane or train fair if beyond a driving radius, there are hotel bills you may incurs during drop off and pick up each year, family weekend visits to campus, etc. These can quickly add up to a few thousand dollars per year for out of area schools. My next suggestion would be - if you haven't done this already -- to invest in SAT/ACT prep to get the math score up. Your child has a great GPA. But at the end of the day, I would be surprised if privates that are "better" (however defined) than state options will give you enough aid to get your total bill down to 25,000 per year unless DC is very strong on standardized tests and then "undershot." My DC was very strong on both tests and GPA and could have gotten free or near free rides at some southern schools (not sure which, but KY comes to mind., but he would have been a happier at Maryland in-state anyway.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op, you ask a very reasonable question. With the same uw GPA and 710 math as a STEM major, DD got 1/2 OOS tuition at a flagship public and 1/3 off at a STEM focused private. Those were 2 very good (money) results out of 10. We would never have been able to anticipate the end results, so I'd advise to apply widely. Just make sure DC has financial safeties from which to choose. A problem your DC will have is Theatre is such a competitive major, students are lucky to get into the major at all.

Hmmm. Thank you. Good to know. DS is thinking of coming up with something different than a straight theater major to differentiate himself. But it's good to know there may be some OOS options. The problem for us is our budget is capped at $25K per year, so 1/3 off a private is not going to be enough. sigh.

Why is your budget capped at 25K per year? Will your child take out loans to move the 25K max? Will you get any FA?

Not eligible for FA. Won't take out loans or let our kids take out loans. So our kids go in-state or OOS with merit aid. Just trying to find OOS options, should there be any, for DC#2.

Everyone takes out loans...I still have 60K! That's the reality of being a millennial.

This is the mentality that gets people into excessive debt. Not everyone takes out loans. My kids won't.

Anonymous wrote:My DC got $32k/year from one school, $30k from another, and $28k from a third.

Where?

My DC got $32k/year from one school, $30k from another, and $28k from a third.

Anonymous wrote:I say this as an English major myself...why on earth would you be considering spending so much money on an English/theater major at a private college?

+1 Sounds crazy to me.