<p>There are all kinds of reasons why parents might not have the money to “sacrifice and pay”. They might not always have been earning at a high level. They might be supporting other family members. There might have been a health crisis. There could’ve been a period of unemployment. Their savings for college and retirement could’ve tanked in the downturn. They may feel that the excellent public universities in the area will more than fill the bill, especially if the parents attended those universities. Etcetera, etcetera, etcetera. </p>
<p>We know nothing about the OP’s parents’ situation, and students aren’t generally that knowledgeable about their parents’ finances. </p>
<p>Getting back on track … OP, please let your parents pay for you if they want to do so. That is their choice. Ask them how much they can afford per year. Then focus on colleges that cost that much … or less. </p>
<p>My H and I have paid a lot of money for our kids’ educations over the years. We do not regret it, and we did it because we wanted to do it. We certainly could have put it into retirement savings, or we could have had a nicer house/newer cars/nice vacations. We have never once regretted the choices we made. I am willing to bet your parents feel the same way.</p>
<p>LucieLOO I wasn’t ranting… and making over 250k is not “non wealthy”… and I didn’t say it was wasteful… that’ ridiculous…</p>
<p>I am not judging anyone. </p>
<p>OP will read another’s prospective… and when they eat dinner tonight they can tell their parents what I just told them and see what they say. Its called a life lesson (and it can be right or wrong) and it might help them understand why they should or should not pay for college or they will explain to OP that maybe a lesser expensive school would be better. At least it will get them talking and planning… </p>
<p>OP please understand I am generalizing about the matter because I don’t know your families entire situation. </p>
All of us buy “unnecessary things”. Posting things like this make you sound judgmental. I don’t think telling OP how his parents SHOULD HAVE lived is helpful at this point.</p>
<p>@Collegetiger thank you so much for your input. Dont worry you havent offended me at all. My parents are very good with their money and dont spend it on a lot of material things other than our house. But thats only because the area we live in most houses are approaching a million dollars. i also go to a public school because the public school system is very good here. My parents are definitely willing to pay any price for my education however they often remind me that the college you go to may help you initially, but in the long run it doesnt matter. They say this because both of them did not go to prestigious schools but were still able to be successfulll. I just feel guilty wanting to go to a prestigious school and pay a lot when it really doesnt matter.</p>
<p>Wow, some of these comments…the reality is that a combined income of $200,000 a year in San Francisco, NYC, outside of D.C. , other parts of the country is not some huge amount of money…housing & taxes eat up much of it…and everything costs more…yes, you can save money (I have for my kids) but it’s not some easy thing to do…I also have to save for my own retirement, the education of my 2nd kid, my aged parents (who may need my help), etc.
I’m not saying that LW shouldn’t face reality and go to a good state public school. But please don’t assume that folks can save hundreds of thousands of dollars only for college.</p>
<p>I am assuming you are going for engineering and a good student and will finish college in 4 years.</p>
<p>When you get your list of schools acceptances… sit down and see which campus fits you and your career goals and living locations the best. Look at the program, meet other students, research the professors records and accomplishment, see where the students are going after the program, look at alumni contacts and support, talk with other engineers and strive for the best school. Even if you have to take some loans (40k). If your parents live in a million dollar home and willing to help strive high! Talk with your parents and see what their financial goals and if any obstacles are ahead financially. </p>
<p>If you think you might struggle in college then make a safe bet and pick a less expensive school for b or c level student. </p>
<p>The quote about college doesn’t matter in the long run can be true sometimes… you need to determine if it works for you. All you really need is a number from them and once you have that you can pick between your list of schools. Basically you are negotiating with your parents and your are being considerate about not spending too much. </p>
<p>If your only reasons for going to an expensive school is the impressive name and what your friends think and you haven’t done your homework on the school then I understand your parents comments.</p>
<p>@Collegetiger thank you, is helps a lot. I’ll be sure to have a long discussion about this with my parents. I find put about Georgia Tech tomorrow which is my top school.</p>
<p>Actually, it is a huge amount of money… how do you think the other 94% live (even in those areas)?</p>
<p>But, in any case, if your parents have high income but will contribute less than the amount the colleges expect them to pay after subtracting need-based financial aid, then you need to look for colleges with either low enough list prices, or low enough net prices after merit scholarships.</p>
<p>Have you looked through the automatic and competitive full tuition and full ride merit scholarship lists?</p>
<p>Alabama’s scholarship deadline has been extended to Jan 6. They have a solid engineering school and very good honors program there, and plenty of merit money.</p>
<p>Rensselaer Polytechnic Institute. Worchester Polytech (one of the highest return on investment according to a ranking). Rochester Institute of Technology. Lehigh. Bucknell. Union. All have well regarded engineering program. I went to RPI years ago and as an Asian female, I received some merit scholarship. I think you are a black female? You should be in high demand since you have good grades and EC. Plus you are geographically desirable for these NE schools.</p>
<p>collegetiger,
You clearly don’t live in the DC burbs. A 50 year old, non-renovated split level with an hour commute into runs $450k. You pretty much can’t buy a single family house for under $300k in this area. For comparison, my sister lives in a similar house in KY – $160,000. My dad lives in a similar house in Georgia – $100,000. In Bethesda, MD, those houses would go for $700,000+ – and if the lot is large enough, folks will pay that for the house, tear it down and buy a McMansion for $1.5+.</p>
<p>There are some parents who are willing to pay for private schools when the kids are younger because the public schools don’t/can’t offer what a kid needs.</p>
<p>While it’s bloody expensive to live here, I know we are fortunate to be able to do so.</p>
<p>@CountingDown THANK YOU for breaking that down. I dont think ppl realize the cost of living here. My friend’s house is appx $700,000 and she said her house in Texas was the same square footage but $190,000. It makes a huge difference. Also, my dad’s friends in ohio have a mcmansion that is probably 6,000 sq ft and there house cost less than the town house I used to live in which was about 2,500 sqft.</p>
<p>2,500 sounds huge.
Our house is less than 1,000.
So you should get aid, because your family choose to live in an expensive area with expensive tastes? </p>
<p>@emeraldkity4 My parents did not really chose to live hear. We were living in Ohio when the jobs began to tank. There are not many locations for federal employees to work other than the nation’s capital. We moved here because thats where the jobs are. And we do not have “expensive tastes”. We dont all drive luxury cars and where Chanel or Gucci. My parents are mindful with their money and save it up. The cost of living is extremely high which is compensated by a relatively high income. There isnt a lot of extra expenses for other material things.</p>
<p>general comments to CountingDown:…They live in a million dollar home not a 450k that’s a big difference. driving a bmw or a corolla is a big difference.<br>
I live in a suburb of Boston and understand the value of homes and locations. You can’t tell me that you can’t find a home a little bit further away or different location for less…or even downsize. People choose their homes and as a result that sometimes determines how much they can save or sacrifice for college. I understand the cost of living differences but my general argument is making over 250k (with no real life problems) you should be able to save for college.
Obviously, some might not like my comments and own an expensive home while having to save for college, but don’t look for financial aid based on cost of living differences throughout the country, move or refinance or pay attention to your kids so they can get merit. How can anyone expect financial aid with an income over 250k in this country? It’s also like saying you bought a house you can’t afford because you have to pay for college, or parents to help later in life, taxes, milk costs more etc. It’s called planning and budgeting 101.</p>
<p>Any way you look at it, a household income of $250K is significantly higher than the median income in the US, no matter how high your cost of living is. HI has among the highest cost of living in the nation and we have relatively low wages compared with much of the nation. The FAid does NOT weigh the relative cost of living of the various students applying for FAid.</p>
<p>Yes, living in a high cost of living location makes EVERYTHING more costly, but that is how it goes. Each family makes choices. It is thoughtful of you to want to save your folks money–if you really want them to save on you, consider going to a good in-state public U or a U where your stats get you merit awards.</p>
<p>I read all these and I ask, do these other people know what they are talking about? Forget OP he/she is a teenager trying to go to college. Many of us here are adults supporting our kids. Our household is about $150-$180 a year and many might think that’s a lot!!!<br>
Let me break down somethings for you:
We do not live in an expensive house, good area with great public schools. A decent home of about 2800sq
We drive all cars from 2006-2007-2008 and pay over $6,000 yr in car insurance
I had deducted over $49,000 from my paycheck for 401k, health, dental and other stuff
I paid over $22,000 in taxes and who knows once I file my income tax how much I owe in Federal</p>
<p>My point is this: Yes we make a decent income and at the same time not much is left</p>
</p>