<p>Everyone is always richer or poorer than the next guy. And if it’s perfectly acceptable to have your own experience for the poor and underserved, than it should be perfectly fine to have your own experience if you have twice as much money as the state’s median. We make considerably more than that, but with business reversals wiping us out almost a decade ago and the economy taking a good chunk of what we’d replaced barely a year ago, al expenses come off the top. No one is giving us aid, nor a loan, but we’re not exactly banking for any kind of retirement at this point. Everyone has their issues. Everyone. And just because they aren’t YOUR issues, doesn’t mean they don’t exist or aren’t real.</p>
<p>*Does he qualify for scholarships at in-state schools? That’s what MY middle class family will probably be doing. Refusing the admission to the more elite school (if not enough scholarship), and settling for a nice 4 year bachelor’s degree at a very cheap but good value in state school. *</p>
<p>Yes, many, many do this. After living in Calif for nearly all my life, I now live in the south (altho I still spend about 1/4 of my time in Calif <3). Many “middle class” kids come to school in the South (or in other states) because of the generous scholarships. For some families, it’s the only way to make education possible.</p>
<p>I don’t know how people can afford to have kids period anymore frankly- our kids are eight years apart- which is only helpful re: college if you can afford to pay the whole thing out of income- otherwise it sux for the loss of additional dependent/child credit.</p>
<p>[Million</a> Dollar Baby? The High Cost of Raising a Child - ParentDish](<a href=“http://www.parentdish.com/2009/12/07/million-dollar-baby-the-high-cost-of-raising-a-child/]Million”>http://www.parentdish.com/2009/12/07/million-dollar-baby-the-high-cost-of-raising-a-child/)</p>
<p>We live in a high COL city and do not make six figures, yet for instate public tuition we do not qualify for aid.</p>
<p>We pay for it with savings/loans and current earnings, like most people.</p>
<p>How does someone in the middle class pay for their kids to go to a **top rate **college?</p>
<p>mysonsdad…</p>
<p>What do you mean by “top rate college”? </p>
<p>Do you mean the ivies, Stanford, Vandy, or Notre Dame or other elites? Or, do you mean basically any decently ranked school, the UC’s, good privates, OOS flagships, etc.</p>
<p>You find a way. It is different for every family. I drive a 1994 car with 190,000 miles and have worked 2 jobs for the past 19 years. The pay from the 2nd job went into the college fund. My mom and dad paid for a total of 21 years of college for their 5 children- we did take some loans but my parents paid the majority. They refinanced their home 3 times.
We are also in a high cost area NJ.</p>
<p>We make about what you do and will be able to pay the full costs to any college our 2 kids can get into. No big secrets…we started saving early and we live within our means. We live in the Northeast so cost of living is high as well. To be honest, on $130k/yr, you don’t save enough(didn’t start saving early enough) and/or spend too much. We all make choices in life…</p>
<p>I don’t think it helps at this point to tell the OP that his past spending/saving/lifestyle choices might be the problem. Some people are just naturally good at “looking ahead and savings” while others don’t have that talent. </p>
<p>Some people are married to spouses that share their thrifty/saving spirit. On the other hand, some would like to save more, but their spouses spend/demand too much. Both my parents were very thrifty and saved a lot. My uncle had a thrifty spirit, but his wife spent like crazy (she felt that her income was for fun, clothes, and luxuries). So…those things happen.</p>
<p>At this point, it sounds like he needs solutions for the current situation.</p>
<p>That’s why I asked in an earlier post…</p>
<p>mysonsdad…</p>
<p>Is your son a junior or senior?</p>
<p>What schools is he considering?</p>
<p>What are his stats (GPA weighted/unweighted and SAT/ACT scores)?</p>
<p>What is your EFC? How much can you afford to pay each year towards college costs?</p>
<p>Once we have those answers, we can recommend some possible solutions.</p>
<p>We know a number of people in dire financial situations from a combination of taking out loans to pay for their kids’ educations, buying a new house and then losing their jobs. Its not a particularly wise move to buy a house when you’re over 50 and your kids are starting college - particularly these days.</p>
<p>mom2collegekids
mysonsdad…
Is your son a junior or senior?
What schools is he considering?
What are his stats (GPA weighted/unweighted and SAT/ACT scores)?
What is your EFC? How much can you afford to pay each year towards college costs?</p>
<p>First off, how do you edit quotes on this blog?? :(</p>
<p>I am actually dealing with 2 kids.</p>
<p>My DD, who has struggled through school all her life but may finally be getting her act together, is a junior. She will be going to a CC which I will pay for. She wants to be a fire(wo)man. I am just wondering what will happen if she wants to go to a UC in a few years.</p>
<p>My son is in 6th grade and is a “top of his class” type of student. Not to go too much into his background, but he gets top grades and already has many EC’s. He is the one who most likely will go on to a “top notch” school (I know there are no guarantees) but, as you know, you need to look ahead. </p>
<p>BTW, I am new to this board, what does EFC mean? I take that it means how much can I pay. If I continue to work my three jobs, I could pay about a $1000/month. I hope to start saving this much in June when my second car is paid off. I was hoping to have between $50,000-60,000 saved up for when/if he goes. If he decides not to go to college I will at least have saved a lot for retirement lol.</p>
<p>By top rate college, I mean the Top 20 (two kids from the high school he may be attending have gone to Harvard in the last 4 years). Lots more have gone onto UC’s. </p>
<p>I remember when Junior College was free and CSU’s were $800/year. Wow, have times changed.</p>
<p>OP asked a legitimate question. The answers provided should give some insight into the fact that we ALL find it difficult to finance an education (even at less-than-elite schools). The sticker shock can be pretty awesome! You will find many here on CC who share the worries about how to afford school.</p>
<p>But I do have to throw in my two cents about it not being “easy” in any way for the poor. I work at an urban state school with many truly poor students. It’s no picnic for them. I mentor a young man who attends a very elite eastern LAC that meets his need. He still has to take out loans, and he is POOR compared to his classmates (which is not easy for a young person) — not to mention the fact that he did not have the same excellent preparation in high school that his classmates enjoyed (he had to work VERY, VERY hard to get up to speed when he got to college). His brother is not quite as good a student & finding him a good school (not elite) that he could afford without ridiculous loan amounts was not easy. </p>
<p>The concern about affording school is real. Just be careful not to assume that it is any easier for the next guy.</p>
<p>"How does someone in the middle class pay for their kids to go to a top rate college? "</p>
<p>If they’re in Calif., very easily since unlike what’s true for most states, Calif. has some excellent public universities that also are very cheap for instate residents. California residents are lucky in that some of the best colleges in the country are dirt cheap for them.</p>
<p>"If you are poor it is free "</p>
<p>For the overwhelming majority of poor students, even paying for community college is a challenge. Very few poor students have the high intelligence, academic background, and sophisticated knowledge about college applications to be able to successfully apply to the few colleges in the country where they could go to for free. Those few colleges are places like Harvard, Amherst, Princeton – which most people have no chance of gaining acceptance to.</p>
<p>Most low income students have (through no fault of their own) the stats to attend at best community college. In general, low income students lack things that middle class and others take for granted: parents who speak good English, easy access to reading material and computers, family members who encourage and enable the students’ learning, excellent schools with accredited teachers, well behaved students, and available GCs who are knowledgeable about college and scholarship opportunities. </p>
<p>Low income students also frequently lack basics such as: regular, nutritious meals, health care, eye glasses, dental care, and living in a stable home. It’s not unusual for poor students to have to frequently move – including changing schools – because their parents can’t pay the rent.</p>
<p>Originally posted by mom2collegekids:
We purchased our home in 2003.</p>
<p>Mysonsdad, EFC stands for Expected Family Contribution. It’s a number that is calculated by the so-called FAFSA methodology, which is used by the Federal Government to assess federal need-based aid such as a Pell grant. Many colleges and universities use the FAFSA to see how your family expected contribution compares with the total expected Cost of Attendance. This is not how much you think you can pay, but how much the FAFSA says you can pay. There’s often, unfortunately, a big difference between the two. Here, you can do a fast check of your family’s EFC here [FinAid</a> | Calculators | QuickEFC](<a href=“http://www.finaid.org/calculators/quickefc.phtml]FinAid”>http://www.finaid.org/calculators/quickefc.phtml). You should be sitting down when you do this, because you won’t be happy with the result. And yes, the result is per year, not the total for all four years. I know you’ll have this reaction because all parents have this reaction when we do the calculation for the first time. </p>
<p>One of the useful lessons you learn here on College Confidential is that the Rolling Stones had it right. You can’t always get what you want, but if you try sometimes, you just might find, you get what you need. 
Your kids may not be able to go to absolutely any school they get into, because you won’t be able to afford it. If one of your children gets accepted to the school of their dreams, and the school gives them enough financial and merit aid so that the COA for you is $25,000 a year, but you can only afford $15,000 a year, then it might not be possible for your child to attend. The good news is that there are going to be affordable schools, especially for a student with an excellent record. Hang around here long enough and you’ll see that there are going to be lots of possibilities that will be affordable.</p>
<p>If your son keeps up the good work, and he’s fortunate enough to get into a super-tippy-top school, and the school financial portfolios don’t suffer any more, you may find that you can afford it. Harvard, Yale and Princeton currently charge on 10% of parental income for families earning up to $180-200k a year, so your cost would be $13k a year at those schools. Many other excellent schools offer a few super-competitive full rides, and other schools down the selectivity ladder offer merit aid even to higher income students. </p>
<p>Depending on your financial situation when your D finishes CC, she may need to work part-time to save money for college. You and she may need to take out some limited loans. She may also need to consider a Cal State instead of a UC. With the state’s budget picture in such flux, her best plan will be to do as well in CC as possible, save money, and be flexible about her future plans. My oldest D is also a junior, and it’s been shocking to see how admissions and costs at UC and CSU have changed in just the last two years.</p>
<p>*BTW, I am new to this board, what does EFC mean? I take that it means how much can I pay. *</p>
<p>Not exactly… EFC means Expected Family Contribution. The amount isn’t determined by how much you CAN or will pay, it’s the amount that FAFSA determines that you should contribute based on earnings/assets. </p>
<p>Therefore, with a $130k income, it may say that your EFC is $35k PER YEAR for your son’s college (not $50k total that you may have saved)</p>
<p>*My DD, who has struggled through school all her life but may finally be getting her act together, is a junior. She will be going to a CC which I will pay for. She wants to be a fire(wo)man. I am just wondering what will happen if she wants to go to a UC in a few years.
*</p>
<p>If she’s over age 24 at that point, your income won’t be considered. She’ll be an “independent” - altho you’re free to help her as much as you want.</p>
<p>* </p>
<p>I remember when Junior College was free and CSUs were $800/year. Wow, have times changed.*</p>
<p>Heck, I remember when my bro paid $57 a semester for CSU. Seriously!</p>
<p>By top rate college, I mean the Top 20 (two kids from the high school he may be attending have gone to Harvard in the last 4 years). Lots more have gone onto UCs.</p>
<p>Going to a top 20 is nice, but even those with perfect ACT/SAT scores and perfect GPAs get rejected every year. Right now, those schools are costing about $55k per year, so $50k saved won’t go far. </p>
<p>Don’t get hooked on ivies/top 20s, if it would mean big debt. There are many, many super schools out there.</p>
<p>Harvard guarentees that those making more then 120,000 but less then 180,000 a year will not contribute more then 10% of their income. If OP says he can put away 1k a month if his son gets into Harvard he’s set. Getting into Harvard isn’t a sure thing unless OP’s son cures cancer but if he has stellar stats he’ll have as good a chance as any (unhooked) person at a top school with a generous financial aid policy.</p>
<p>[Harvard</a> announces new financial aid help for middle and upper middle income students | College Admissions Counseling](<a href=“http://www.collegeadmissionspartners.com/college-financial-aid/harvard-announces-new-financial-aid-help-for-middle-and-upper-middle-income-students/]Harvard”>Harvard announces new financial aid help for middle and upper middle income students - BS/MD Admissions by College Admissions Partners)</p>
<p>The thing I hate is that the schools my son and daughter go to are over 60% free and reduced lunch. They have gangs and other problems. That means my kids have the same challenges to get a good education as the other low income kids in school, yet the kid right next to them may get a free ride to an Ivie or even a UC.</p>
<p>^^^</p>
<p>I would not have my kids in such a school. Get them in a Catholic school (even if you’re not Catholic - Catholic schools have kids of all religions attending - my kids had Jewish, Hindu, and Muslim classmates). We have never regretted the thousands of dollars that we’ve paid for our kids’ Catholic school education. No school is “perfect,” but they will be better than a school with gang or other such issues.</p>
<p>Other private schools are fine, but are often more expensive. My kids have been in 3 Catholic schools (2 elem and 1 high school), and they were all much cheaper than the other privates in the area.</p>
<p>In the end, we feel that the money paid off. Older son is a NMF and got several full-ride and full-tuition scholarship offers, and younger son (who just missed NM) got several full tuition offers. We have to pay very little for their college education. But, then there’s grad school and med school coming…lol We will help pay for that, since we’ve gotten off cheaply with their undergrad.</p>
<p>Anyway…if your younger son is as smart as you say, it’s a disservice to him to have him in such a school. You’re really not getting a real appraisal of how well he’s doing (or could be doing) if his classes are “dumbed down” to accomodate his classmates who are living in more challenging situations. Smart kids are challenged when they’re in classes with other very smart kids. The “friendly competition” creates an atmosphere of wanting to do better. Apathy can exist in the schools that you describe.</p>
<p>While you suggest that your child is getting the same lesser-quality education as the poor kids are, your child isn’t going home to an unstable environment where dinnertime is questionable and living arrangements might change at a moments’ notice. Those kids also don’t have the luxury of having parents who earn 6 figures.</p>
<p>Can anyone find or remember the post from the Texas Mom - had a ton of hits - about how she helped get her two sons into school with almost full rides, by targeting schools that fit her sons stats? That might be a good thread for MySonsDad to read - I can’t seem to find it.</p>
<p><a href=“http://talk.collegeconfidential.com/parents-forum/148852-what-ive-learned-about-full-ride-scholarships.html[/url]”>http://talk.collegeconfidential.com/parents-forum/148852-what-ive-learned-about-full-ride-scholarships.html</a></p>
<p><a href=“http://talk.collegeconfidential.com/parents-forum/52133-schools-known-good-merit-aid.html[/url]”>http://talk.collegeconfidential.com/parents-forum/52133-schools-known-good-merit-aid.html</a></p>
<p>My district has several magnet programs that I could have taken advantage of if I chose to. I got a full scholarship to a private high school, several high schools in my area offer them to high scoring individuals with good grades, if you start researching now you might find a great alternative to your current public school.</p>