How do middle class families afford college?

Paying for College
41

There wasn’t one person who was being judgmental about your parents. What we were saying was…if you can’t afford a $60,000 or $40,000 or even $30,000 college…you have to look for less costly options.

And yes…being the eldest of four IS a consideration.

It sounds like Bing would be a great financial bargain…and it’s a great school.

But as others have noted…it’s not too late to get a very similar and generous award from Alabama.

Your cost there this year would be about $5000. You say your parents can do that. The next three or four years will be in the $10,000 a year range…but YOU could take the Direct Loan to add to your parent contribution to make ends meet. The bonus here…I believe the NM award covers FIVE years…and that fifth year can be your masters. Not very many other awards have that option.

42

So OP is Math Major with Music interest. High stats. Depends on what specifically are the music interest - orchestra/band/both? The professor in musical instrument? Specific musical groups? How heavily that weighs in to decision.

IDK how long UA, UAH, UAB has their scholarships open to NMS…can participate in music in all 3. It depends what one is looking for with school,education, and career. Each campus has pros - depending what you are looking for. We physically live near UAH (and I worked for UAH years ago, FT position and also adjunct faculty). So for our family, could eliminate R & B expenses living at home and attending UAH. If student is in really tight finances, UAH with the merit discussed up-thread would be a good financial consideration.

The only way after gleaning all the information from all sources, is to make final decisions with college visits. Pretty easy to visit UAB and UA on same trip if flying in to Atlanta or Birmingham (UA is 50 miles W of UAB traveling by interstate). UAH is 100 miles N of UAB, also by interstate. I know at least one student/family who is narrowing colleges down by visiting both UAH and UA (on paper eliminated UAB), and are including both on a road trip (current HS junior).

Both DDs were highly competent in music. DD1’s major conflicted with musical group on year 3 and year 4, but DD was able to take private lessons all 4 years (french horn) from very competent professor, and participated in an EC horn choir. She attended UAB and graduated BSN. The medical center draw of UAB along with many things about B’ham were the draw for her (their nursing program is highly rated nationally, with big depth including large number of graduate nursing programs and two PhD programs). Before college, she also had 12 years of piano, with 8 years of piano guild (Superior rating year 1, and the rest were Top Talent) - didn’t have time her final two years of HS to continue piano guild competition. Was all state band and all state orchestra on french horn in HS.

DD2 was all state on clarinet starting in 6th grade - only 6th grader at our District, one of 3 at All State - State had one middle school (MS) All State band so more difficult to get to All State in MS - of the 6th graders, in addition to DD, one was band director’s son, the other was home schooled. She had 10 years of piano, and had similar ability to DD1 but didn’t want to do guild; stopped piano lessons because just didn’t have time to practice last two years of HS. Also was in two jazz bands (lead alto sax) and had a 21 day performance tour in China (invited by cultural ambassador who had all in-China expenses and arrangements made; DD was youngest gal on the tour). Because she studied engineering at college, and classes conflicted for year 2 and year 3 of college, couldn’t participate in concert band those years; last semester college senior year, was able to participate in concert band - auditioned and won first chair clarinet/concertmaster, and has a solo on the final concert. Participated (won spot by audition; audition yearly) in marching band for 4 years which kept her clarinet chops very good, and super exceptional experiences that we couldn’t afford if not participating with the marching band. Her college - UA. The marching band is called Million Dollar Band (MDB) for a number of reasons. After UA won the national football championship game two seasons ago, kids came out of the woodwork to get in the MDB - of course this last season UA won another national football championship; with 400 in MDB, there were 250 kids on wait list (auditioned and didn’t get in). I anticipate UA football will continue great experiences and winning seasons…

UA as flagship has real depth to so many of their academic and support programs.

UAH has a terrific Chair of Music Dept (Dr David Ragsdale).

DD2 has a friend that finished his math degree at UA after 4 semesters of scholarship; completed his master’s degree during his next two semesters of scholarship; contemplated going on to PhD but took a Wall St type of job in NYC. He was also in MDB his 3 years at UA. Actually about 75% of MDB members are in engineering…

Opportunities are going to be there at many colleges/universities for high stat kids that continue to perform well during college years.

I totally understand the parent position on financial limits for UG - we strongly emphasized what was there for UG. Both DDs had a ‘pot’ to work with it, and scholarships made up a nice amount in the pot. We emphasized that we expect them to be self supporting with UG degree. If they pursued professional or graduate studies, we would be supportive but not necessarily financially supportive.

Many students do want to get away from home. Sometimes that works out financially, and sometimes not. H and my UG colleges were in Milwaukee - we weren’t from Milwaukee (we were from different WI towns), but students that were from Milwaukee had some great college choices.

One doesn’t know what one doesn’t know. Certainly can widen the horizon with help from speed of information/availability of information via the internet. Key is understanding well before deadlines are missed. Also the academic and testing performance hurdles in HS - congrats to OP on the achievements.

43

You’re from Western New York. $175K is not so much middle. More “upper middle”.

44

It really is up to you, OP to explore your options and make choices before deadlines, while you have attractive choices to choose among. It doesn’t matter whether a single person here thinks your family income is low, high or middle. It’s all about what merit and FAid you are offered and what the family budget is.

Good luck—sounds like some of the NMF full rides are very attractive and affordable.

45

Most of the 23 CSUs are still heavily commuter. Many of the exceptions are in lower population areas where even “local” students often live out of reasonable commuting range (e.g. Chico, Humboldt, San Luis Obispo, Monterey Bay, perhaps Sonoma). Other exceptions are those with some appeal beyond those nearby (San Diego, Sonoma again, San Luis Obispo again, somewhat San Jose and Pomona).

But also, the commuter student costs more than $8k plus books, since there are food, utilities, and commuting costs. Not as much as living at the school in general, but those costs need to be accounted for (or offset if the student lives at the school).

46

Unless you’re getting a terminal degree the $60,000 is a drop in the bucket. Any liberal arts degree is going to require a teaching credential or you’re going to need to get into a master’s program. It’s really hardly worth it to go to anything more than a community college these days.

When I first enrolled in UCSB in 2003 the yearly tuition was $3400. It went up to $5500 in 2005 and now it’s $14,000. I’m almost done paying off my student loans 10 years later. It was hardly worth it because I couldn’t get a job with it. The community college was worth it because I only paid $1000 for two years of college(2001-2003). Now community college will cost around $4500 for two years. Studies are starting to show community college grads are making more than university grads in the long run.

47

^ not sure where that is coming from…
Studies show cc graduates make more than high school graduates. Not ‘more than Bs/ba degree’.
And most college graduates from a respectable university with a degree in liberal arts, from English to Math to political science can find a job if they’ve had internships and availed themselvesvog their university’s career services. They don’t find a ‘job in English’ because these are not preprofessional majors but they find a good job that matches what they’re good at and pays well.

48

I’ll try to answer your question. You have actually done some of it. It seems Binghamton is affordable to you and your concern is that your “dream” schools are unaffordable. First, you are now well aware that going to a college means that you get accepted and that it is affordable. The more elite a school is the less likely they are to give you significant merit. Many dream schools for people are not affordable (for a given family) and you just need to move on. As others have mentioned there are some schools that would have offered you automatic merit for your scores. That is a good way to ensure you have more options. Some smaller, less elite LACs might have offered enough money. Depending on the family’s ability to pay either applying instate (as you did) or even to a school you can commute to may be an option. Finally, though usually not necessary for a good student, is community college.

You must have applied to some good academic matches but the schools are under no compulsion to make it affordable for any given family’s situation. A family with similar income, one child and a small house that is paid for would probably have no trouble paying for a number of the schools. Most colleges just don’t need to consider such things. That is up to your family. It may mean you have different choices than other students with different situations but you’ll still have an opportunity to have great success. Good luck.

49

Did you get into honors at Bing? If you didn’t respond to your invitation (thinking you wouldn’t be going) check out the pages at PRI and University Scholars, then accept.

50

Does Bing have plentiful and affordable off campus housing? You could live there after freshman year, if commuting is not possible.

51

@thomas4881

Your post is simply not true. There are PLENTY of students with bachelors degrees who get jobs. PLENTY.

If a family is willing and able to pay whatever…fine. I’m not a strong advocate of loans in excess of the Direct Loans students can take.

But to each family his own.

52

I‘m confused. If the op’s parents can only pay $5k per year with a very strong income, why did he apply and dream about schools that are totally or mostly need-based (Notre Dame, Yale, etc) and then be surprised that they’re not affordable.

Did he really think that ND would give him $60k grant money so that his parents’ $5k and his small student loan could cover the rest?

It would be one thing if his family had an income of say $70k, but with that income, he had to know that a school like ND would not give him a tiny net cost.

And yes, in western NY, that income is upper middle class.

53

Also…he better look into his belief that he’ll get free tuition at Bing for being Val. Wouldn’t he already know that???

@sybbie719 is his assumption correct??

54

For people who are not particularly college admissions savvy, ie. not in the CC bubble, I don’t think it is unusual for them to think/assume/imagine that with the great stats this kid has, that they are going to receive some big scholarship $$$. Enough to bring really expensive schools into the affordable zone.

We know that is not the case, but I certainly don’t think the average american family does. I know I hear from my family all the time “Oh, she must have gotten some good scholarships”! They are aghast that my B+ kids have not gotten more money. I take the time to explain to them that we knew we would be lucky to get anything and there are kids with even better grades that turn up empty handed, if they want to send their kids to college they need to that they will have to pay for it all out of their own pocket, just to be safe!

55

@cj12345 I think the real question you are asking is why your parents dont have more saved for your college fund. The reality is due to the crazy high cost of attendance your parents would have needed to save about $1k per month from the day you were born until you were 18 to have enough savings to cover the cost of attendance at the top/most? private schools. That is for each kid in the family. Most young parents dont understand that or have the means to do that. Once they realize they need to start saving, its too late. Most cant catch up to their full EFC for private schools. Most young parents have no idea what their income might be 18 years later when they have a kid applying to college or even understand how EFC is calculated.

College is only this expensive because there are financial options (parent plus loans) that enable this craziness to continue. Its not unlike the subprime mortgage fiasco that artificially drove up real estate prices. If there are no 'unlimited" limit loans, the number of people that can pay $300k for college is drastically reduced. Prices would have no option but to come down. Just like the bubble after they cleaned up the mortgage loan biz…

56

SUNY Bing does not give full tuition for being a Val.

If you are in the TOP 10% of your class and you are going to become a STEM major (and it sounds if you are), you can get a STEM scholarship, because you are Val that will cover full tuition.

In addition,you will be eligible for the academic excellence scholarship of $1500/year for 4 years. This still leaves you with room and board

Did Bing give you any stackable merit?

So if your parents give you 5k and you take the 5.5k loan and work a summer job starting now, you might be able to cover the room and board

57

@ccsouth: loans ARE limited to 5.5K per year for a freshman. People don’t actually get 300k loans for college. Most kids commute to a local university. Those with top scores and grades have a lot more choices - OP would have gotten some financial aid for 175K and 6 people at the top "meet need " colleges and can still receive excellent merit scholarships.

OP should apply to the “big merit” schools, especially those still holding full rides or full tuition scholarships for NMFs.
Then he could say “I’m choosing between honors at Suny Bing on a full ride, or a full tuition scholarship with Honors at Bama” (or UFlorida or …) instead of feeling miserable. :slight_smile:

58

@mom2collegekids Based on one of the other replies, I am assuming he received this scholarship: https://www.hesc.ny.gov/pay-for-college/financial-aid/types-of-financial-aid/nys-grants-scholarships-awards/nys-science-technology-engineering-and-mathematics-stem-incentive-program.html

It does come with the service contract obligation to work in a STEM field in NYS for 5 yrs. I am not sure I would want to limit myself to that criteria when other affordable options are out there, but this student may plan on living in NYS for his entire life and it may be of zero concern.

@cj12345 I would investigate how grad school plays into your obligation. You are most likely going to want to pursue grad school with a math degree. It may be as simple as deferment until after you complete all education. But, you should make sure you know the answer.

59

I also live in the western NY area. $175k a year is a pretty high income IMO. It’s much more than my family income and we also consider ourselves “middle class”.
We will be able to contribute roughly 20k a year.

Colleges that meet full need will expect us to pay roughly 24-30k a year (not counting HYP level help).
We can pay what we can because we are careful with money and save more than many. My daughters have friends that make more (my guess closer to $175-200k) and their kids are full pay at colleges, unless they get merit. The kids go to the more expensive school if the parents have saved enough, otherwise they go to SUNYs, with a combination of merit and paying more than $5k a year. I also know some people who have taken out huge amounts of loans (beyond the student offered federal loans), something my family would not do.

60

A school is really just a brand name tool designed to achieve a dream. It’s really no more a dream than owning a Chevy. It sucks, but sometimes the sticker price is what makes the decision. It’s just the way life works out sometimes, as it is with most kids. I’m hoping that you applied to at least one affordable safety school, right?