<p>Great news…for someone on the wait list. S was accepted!!! The problem is that he only received a $500 University scholarship. That leaves a lot of family contribution.</p>
<p>Brown has been his first choice since the 7th grade. He did his part. He worked hard, made the grades and was accepted. I failed him. I am the failure because I am a productive member of society, because I am frugal, and because I had him later in life so he would graduate just in the peak of my earning potential (which isnt a fortune).</p>
<p>S certainly has other options. He has been offered full tuition scholarships to other institutions, but I have tried to instill in him over the years not to settle. I have yet to investigate but maybe school loans is an option, but I would hate for him to start out his life with over $200k in loans.</p>
<p>I am just the father of a middle income family trying to get three teenagers the best education that they have earned. I am aware that all of Browns calculations are readily available, but I dont really understand why someone that makes a million dollars per year would only pay $500 more than S. </p>
<p>The message that I took from Browns offer is that, in their view, I did well with a public education at an unrated school, my S can too.</p>
<p>Sorry to vent, but I look forward to your comments no matter what they bring.</p>
<p>Congrats on your son’s acceptance. And condolences on the FA aspect.</p>
<p>Some questions for you: Did you fill out the online calculator at the Brown website to estimate your family contribution? If so, was the resulting number off by a huge amount? If so, maybe you made a mistake in your FAFSA or Profile. </p>
<p>Did your son get a better financial aid package from another school (not merit, but financial aid)? You can ask Brown financial aid to reconsider its offer and will have more luck if a competitor school is giving you more.</p>
<p>Brown asks that parents pay for college with past, present and future earnings. That means savings, current income, and loans. You didn’t tell us what your financial situation is like – do you have a lot of assets? What’s your income? Technically, “middle-income” is about $50,000/year, and if that really is your income your son should have gotten a very nice package from Brown. </p>
<p>Brown has decided that, given its limited financial aid dollars, it wants to spend more money on lower-income families (those earning under $100,000/year). It believes that families who have incomes over $100,000 have more resources to pay for college (based on savings, current cash flow and ability to borrow money). Not to sound too b***y here, but no one – no one – is entitled to a private school education. Why is college any different than buying a car, or a house? I may want a six-bedroom mansion with my own private beach, but since my income isn’t high enough to afford that, I can’t buy it. College is the same.</p>
<p>And while I don’t think Brown intends to send you a message that your son should go to “an unrated school,” you are absolutely correct that many, many people in this country are successful without an Ivy League education. Just like I can be happy in my more modest 3 bedroom home.</p>
<p>I feel your pain. My husband and I have lived life frugally, had paid off our mortgage by the time our students hit college, live in a nice house that had appreciated a lot, had saved our $$, and had socked away money to make sure we could send kids to college. Other of our similar income friends had always taken lots of expensive vacations, cars etc, so have less of a “nest egg”, and got some aid.
We pay full ride for our child at Brown, but still feel the experience is worth it. (We both went to expensive schools, and both had scholarships, so I sort of feel it is a bit payback for that.) We had hoped to get a little something, but since one dropped out of school, didn’t have the 2 in at the same time benefit. You may get some aid in future years if you have 3 in at once!!
Take the good advice above, and consider what is best for all, now and down the road. I’m willing to trade vacations, etc for my student’s experience at Brown. (But won’t be able to contribute for grad schooling, and that is also something to discuss. ) Another factor: almost all Brown grads finish in 4 years. My friends kids at less expensive state etc schools all seem to be taking 5+ years!</p>