My son got acceptance from Northwestern University from early decision.
But the financial problem arose after we decided to go.
Only way we can do is pay for the a lots of portion of tuition, or take a gap year.
We can wait to settle down our financial difficulties.
Now question is should my take a year off and get back to school next year?
or
Pay for $45000 and go to school??
If my son takes a gap year, it will go down to less than $10000 for family contribution.
First, congratulations to your son on admittance to Northwestern!
How are you sure that the family contributions will go down to less than $10k next year? If you are having financial difficulties, I would assume that you would pay less not more.
Have you called the FA office and negotiated yet? If not, I would encourage you to do so. Regarding a gap-year - I took one, and it has been some of the most valuable time for me in my life. It’s not a bad choice should your son decide to take one.
Have you discussed your financial situation with the people at Northwestern? Perhaps they can adjust the package.
If it can’t be made affordable, and your son really does want to go there, he needs to find out what he needs to do to defer enrollment for a year while he takes the gap year.
Honestly, if you have to incur a large amount of debt to go it is not worth it. There are plenty of great engineering schools that you can go to an not mortgage your future.
Definitely contact the university to review your situation. If there’s a situation going on this year (a one time bonus, etc.), they can review your case and perhaps make adjustments. You might ask them if your son can defer his acceptance for a year while you straighten out your finances. However, if the only way for you to pay for this school is to take out a $45k loan every year, I’d look for a different school. Not only is that too much debt, but it’s possible you won’t qualify later on, even if you do qualify for the first year or two.
Congratulations on your son’s acceptance and I’m sure you are very frustrated with the situation. I agree with contacting the school and see if they will review your financial needs. Otherwise, a gap year seems like a smart plan. During the gap year I’d consider having your S apply to some less expensive options in case the money doesn’t come through as you hope in the next year.
The question…is the son going to take a gap,year and apply again next year…or is the son hoping to,defer his enrollment for a year? There is a difference.
If Northwestern will allow him to defer for a year, he won’t have to reapply.
