<p>I am a rising senior and the huge costs of college are looming up in front of me. For the past three years I have dreamed of going to Stanford, Harvard, Princeton, or MIT, but now I've had to rethink this dream. My parents have done very well for themselves and I would not be eligible for any financial aid from these top universities. The catch, however, is that my parents are leaving it to me to pay for the majority of college expenses. The idea of having to come up with 30-50K per year to attend my desired university does not seem very appealing at this point in time and I do not believe it would be entirely possible for me. The universities say that the purpose of their financial aid is to ensure that any student can feasibly attend their schools if admitted; however, for me these financial aid regulations pretty much preclude me from attending these universities without incurring massive debt. Has anyone else encountered this situation?</p>
<p>I'm in a similar situation. It aggravates me how so many great schools have the 100% need met policies, so that "anyone accepted can attend". When in reality, it's anyone accepted can attend, given either a) you have a very low EFC, or b) your family will pay your way through college.</p>
<p>I'm trying to work it out, but at the moment I can likely get accepted, but I won't qualify for much need aid, am unlikely for merit aid, and my family isn't contributing almost anything.</p>
<p>So yeah... I know how it feels</p>
<p>So you're complaining because you're family can but won't pay for your education, while there are families with incomes under 40k a year that really need the money?</p>
<p>If universities started handing out need-based financial aid to students who say that their affluent parents will not support them, then everyone will start claiming that their parents won't pay because it will save their families a lot of money. </p>
<p>It's not a fair system but what can they do?</p>
<p>How is it not a fair system?</p>
<p>It's not just that applicants would claim their parents wouldn't pay. It's that if colleges starting picking up the tab for students whose parents in fact WON'T pay, then the sensible thing for every parent would be to disown their college-bound kid financially, knowing that the college will step in and pick up the tab. And from the colleges' point of view, that's just financially untenable. Your issue is not with the colleges, it's with your parents.</p>
<p>Your parents must be extremely well off if they won't get aid at Harvard or Princeton. I believe families making upwards of 180K are still offered enormous amounts of aid at these schools, so your parents can definitely afford a top school, barring some unusual circumstance you haven't told us about. The system is fair because those who have the ability to pay should pay.</p>
<p>Nevertheless, I feel sorry for you because what your parents are doing is not fair to you. I guess you can apply to these schools and see what happens... There's no harm in trying. Maybe you can try applying for financial aid as an independent?</p>
<p>Well it is a "fair system", however I think it is pretty deceptive when the colleges the OP mentioned in this thread say don't worry about finances at all. During all the college accepted days I attended whenever the issues of finances were brought up the colleges would say "Don't make a decision based on finances...our finaid is so generous we will make you afford it" when in actuality that is not true all of the time. The fact is, colleges still require a certain expected family contribution which may or may not be met by the family. Students with a really high EFC may have parents who do not wish to spend and thus are shafted, there is no way an 18 year old can be expected to pay the bulk of their cost of attendance. So yeah, giving finaid to the needy is definitely fair and obviously you can't give finaid to parents who say they won't pay (everyone would say this) but I wish these colleges would be more responsible and not give false hopes to people who think that paying for college will be made easy regardless of circumstances.</p>
<p>Its just maybe you don't want to pay that much money, your probably being cheap.</p>
<p>In fact, there are actually real ppl who actually can't pay for college. Its unfortunate that your EFC says you can afford college, but you choose not to.</p>
<p>Plus, you won't have debt. Its not called 'debt' if your not taking out loans and if your using your family's income as a substitute to cover the cost of an education.</p>
<p>Face it, neither of us on this forum really want to dish out 40-50K for an education. We have to because we have no other choice. Its something you gotta do in life and this decision should not be dictated by whether or not you want to spend that much money or not because based on the EFC, you can, therefore you should do it.</p>
<p>Its not like you can't therefore you obviously won't. Its that you can but choose not to be.</p>
<p>Ah, Phead128, there's the rub. When you use 'you' it is not the OP but his parents who are deciding to do this. He isn't dishing out the 50k, it is his parents prerogative to do so. Thus, the OP feels shafted that his parents won't cover the majority of his tuition and that the colleges will do nothing to help despite their financial generosity and publicity campaign that leads one to think that he doesn't have to worry about how to pay for these colleges.</p>
<p>Man, I feel for you. That sucks. All your life you prepare yourself to get into your dream school, then you get news that you need to pay for it which isn't possible for many people.
Try to straighten out some things with your parents. It's not easy to fork up 200k for a 4 year education.
What baffles me the most is the fact that your parents won't pay for college when they are as well off as you say. =/
You just gotta talk with them man and just hope they will reconsider.
If all else fails, start dealing =P</p>
<p>Blame the college for not giving you more money so it make it less hard for you to spend yours.</p>
<p>One thing, Do not blame the system for your own perceptions and thinking tha "financial generosity" is prevalent because its only prevalent for those who NEED it and DESERVE It. aka, very low income families.</p>
<p>Those ppl have a lot more to complain about. Stop btching.</p>
<p>HYPS gives tremendous fin aid...if your parents dont want to pay even 20K/year then, well, they fail.</p>
<p>There is a basic assumption that aid to help students is based on family NEED. Not on family willingess to pay. </p>
<p>Is it more fair to offer money to kids whose parents have adequate income/assets, but elect to spend them on other priorities? Parents who have saved for college, or are sacrificing to help their children pay for college, would likely not feel that way.</p>
<p>I think it is unfortunate that your parents do not want to help you with the expenses of your education. But that decision (and its fairness) ultimately rests with them. It is not the instutition, or its policies.</p>
<p>I was accepted into one of the 100% need met colleges and they wouldn't give me any aid at all because I hadn't spoken to my father in over 7 years. We didn't even know where he was. Kind of hard to get someone's financial information when they haven't been part of your life in nearly a decade and you don't know where they live or how to get in contact with them. We filed an appeal, which I thought would work, but they denied it pretty quickly and were very apathetic. This is a problem with some of the schools that practice this system. I've read articles about this happening to other kids as well.</p>
<p>Back in my day, it was a big surprise if the money WAS there, not if it wasn't. I agree with the poster who said the schools may be misleading if they say "don't worry ( your parents can afford it").</p>
<p>This is unfair to those kids whose parents CAN but won't pay. I agree fully. It is also unfair that you are adults for most legal purposes but not for college financial aid purposes. The problem is that if a loophole were made so that parents could get off the hook, there would not be enough money out there to pay for everyone. There is not enough money out there for everyone as it stands. Though it may be the fair way to do things ultimately, no one wants to make that move. </p>
<p>In the "old days" when I was an undergrad, there was a kid I knew whose father "disowned" him while he was in college because he did not want to be pre med. The college paid his costs that year. Apparently some reconciliation between son and dad occurred but they did not bother to tell the university because the new financial arrangement was just fine as far as they were concerned. A big stink arose over this. Also, I had an apartment mate whose family was downright wealthy, and she was on food stamps and aid because she was independent, all a well thought out ploy to get financial and maximize what the system would give out. In every situation where the government or other agency will step in and pay, it becomes part of a family's financial strategy to plan for that payment. We see this when elders need to go into nursing homes, for those who have handicapped, disabled members of the family and in other situations where it pays to have others pick up the tab. Colleges are not about to get into that situation unless forced to do so. It would be interesting to see what would happen if part of the college process were to be such that parents decide what they will pay for college, and the decisions and aid had to be distributed accordingly. Somehow I believe that those whose parents were willing to pay would still end up at an advantage.</p>
<p>"Back in my day, it was a big surprise if the money WAS there, not if it wasn't."</p>
<p>But back in your day, tuition wasn't this high. I really wish we went back to those days. Instead of high tuitions going to fancy offices, tricked out buildings and expanding administration. Even the portion that ends up in financial aid is restricted by certain scholarship requirements. While poor freshman in-state admits may be able to afford school, every one else (including those just as poor but out of state, transfers, older, etc.) that can't fit the narrow parameters ends up screwed.</p>
<p>Back in the day, at least from what I've been told, a person could work their way through college and graduate with little, if any, debt simply from working during the school year and summer.</p>
<p>Now it is impossible, even working constantly, to do so.</p>
<p>Things have changed.</p>
<p>"Back in the day, at least from what I've been told, a person could work their way through college and graduate with little, if any, debt simply from working during the school year and summer."</p>
<p>I suppose that could be true. I never thought about "elite" universities "back in the day". Are you saying people could work enough to pay for elites (per thread title) ? I was reflecting on how people without money didn't dream of going to elites back then. I do know some people who borrowed, and are still paying, more them 20 years later.</p>