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<p>I am also concerned that you might not have looked deeply into TCA (total cost of attendance per YEAR)… Too often the focus is on tuition alone - even though room and board is very expensive in many areas of the country. </p>
<p>I know what sometimes what seems like “generous merit aid” (say $10k or $20k per year) can still not be enough when the TCA is over 40 - 50k per year (many privates). I know of many people - personally and here on the this board - that have to say “no” to some privates just because their “generous merit aid” still leaves the family with $25-30k or more to cover each year. Many people just look at tuition costs (5K - 35k depending on public or private) but room and board can add $15k, books and fees can add another 2k, plus there’s travel costs and misc costs. </p>
<p>ALSO – some merit aid does not increase with annual tuition changes - which means that a scholarship of, say $15k per year quickly, becomes a lesser percentage of tuition when increases generally happen each and every year. </p>
<p>On one hand, you’ve mentioned a certain willingness to pay $20k per year ($80+ for 4 years - assuming he graduates in 4 years!). </p>
<p>You mentioned having a son in the 10th grade. That means you will have 2 in college at the same time. Will you be able to afford to give as much to the other(s)? You mentioned that you are almost living paycheck to paycheck now. I don’t think it’s wise for you to be thinking that you’ll be able to contribute that much (20k per year), even with loans, when you have another child closely behind. Do you have any other children besides the 2 boys?</p>
<p>Thumper writes: >>> I will tell you that your $20,000 will only pay 1/2 of the cost of the private schools you are talking about. My guess is that most will not give him $20,000 plus in additional finaid. <<<<</p>
<p>I agree with Thumper… If your son hadn’t had that junior year GPA drop, he could expect some help because he’s a URM, but your son has to understand that his “wanting” to go to particular schools is not enough. He needs to understand that his choice to “give up” last year will impact his choices. On the bright side, you can tell him that he can “fix” the problem, by buckling down at a local state U or CC and then going to the university of his choice (because his high school grades won’t count at all). In the long run, I think this is a better decision. </p>
<p>BTW… I hope you haven’t told him that you will pay $20k per year. If you haven’t, don’t - spend this year “cutting back and trying to increase income” to see how “doable” that is. And if your son does go to a CC or local state U, you can spend the next 3 years seeing if “cutting back” or increasing your income works (and you’ll have some $$$ saved when he and second son start college.</p>