<p>^^^
Excellent point.</p>
<p>The reason I am suggesting that the parents start saving NOW is because they need to feel it. They need to see if they can sustain the month after month dedication of 2k per month towards college. </p>
<p>Every parent knows that a household usually has a few unexpected BIG expenses come up every year…major appliance replacement, dental work, major car repair, major home repair, uncovered medical expense, emergency travel, and the list goes on and on. (our own household just had an AC replacement, emergency air travel to see very-ill MIL, H’s dental work, and big car repair…ugh! the hits just kept on coming.)</p>
<p>If by Thanksgiving, your parents realize that they can’t sustain that kind of savings level, then y’all will know that a different strategy is needed.</p>
<p>It is July, if they start NOW, then by Thanksgiving they will have a few months to determine whether typical household emergencies will prevent them from doing that level of college savings. </p>
<p>Unless there has recently been a new influx of income (new job, inheritance, etc) it is doubtful that a family who hasnt been saving like that (other than retirement and other basic saving) to suddenly be able to set aside $2k a month for long periods of time. </p>
<p>Dont ignore the fact that even if your parents are able to come up with $2k per month towards college, you still have an unaffordable EFC because your EFC is likely around $50k or more. </p>
<p>Dont be caught with no choices. You need to start identifying schools that will give you HUGE merit for your stats… at a minimum, you need to identify schools that will give you about full tuition, so that your family’s contribution can pay the rest. </p>
<p>So, come up with a list of schools that have:</p>
<p>Competitive full tuition awards - these will be your reaches
Assured full tuition awards - these will be your safeties.</p>
<p>You can also apply to a few big names to see if a miracle happens with aid, but dont count on it. </p>