<p>In a way this year's high school seniors (and their parents) are lucky because you can see clearly where our economy is headed. And it's happening now, during application season, so you have time to throw another financial safety or two into the mix. So, my question, how is the financial crisis affecting where your kids are applying? Are you encouraging them to apply to more state schools? Or looking for more and better merit money? Are you trying to get them to consider cheaper schools that before wouldn't have been in the running?</p>
<p>We are strongly encouraging D to add a state school to her list. The best one in our system is a short drive away, so in the worst case scenario she can commute, take summer courses, get more AP credit, get done a year early (gee that would have sold it for me!). While narrowing the list, we have given more weight to schools where her test scores and GPA have already guaranteed her merit money, so a couple of schools that she may have liked more have fallen by the wayside.</p>
<p>We're a year off still, but tonight at the dinner table I started laying the groundwork by talking about how lenders are going to be tighter with their money. I think he got the hint.</p>
<p>I've got a year, but hope we won't take such a big hit it will make a difference for son number two. I'll be upset if it does.</p>
<p>My DD is a senior and has wanted to apply early decision to her first choice school --Hamilton. We are now discouraging her from doing that -- or, we're saying wait a month until we decide anything -- because we don't know how the financial crisis will affect us (whether we will keep our jobs, what it will mean,etc.)</p>
<p>Our strategy has focused on merit money to some extent, not totally, because we believe D will not be eligible for FA. It's not changing the application process a lot, but she knows that we will carefully scrutinize our financial situation (and hers) very carefully next spring. We have this talk frequently. She doesn't like it (heck, neither do I really) but the current economic situation may very well dictate her final decision. I'm also encouraging her to apply to a second (or maybe even 3rd) state school. My job is very much related to the economic mess. While my income is less important overall to our overall financial health it is/will be earmarked for education/retirement. </p>
<p>Her financial and academic safety is also about 25 minutes from home so if became necessary in the future she could live at home (not her first choice in living arrangements or ours.)</p>