<p>The OP’s daughter is not a spoiled diva who’s irate that the Porsche she got at her sweet-sixteen party is the wrong shade of pink; she’s apparently a wonderful young lady who’s crushed because she worked hard and did everything right, and her reward is the bargain bin. And Hanna thinks the OP is the kind of papa who would rather see her crying than give up his golf trips to Boca or the ski chalet in Vermont. To me, he certainly doesn’t seem like the kind of guy who could enjoy a day of golf or skiing knowing it was paid for with his daughter’s tears.</p>
<p>And to Sally and M2C and all your “what if’s”…there’s always a risk with everything…but you might add “what if she falls in love with and marries a bottom-quartile mouth-breather she meets at one of the lesser schools?” That’s very possible too. </p>
<p>Twoinanddone, the OP’s retirement and debt seem to be well under control, so while it was nice of you to share the details of your job and your own 1040 form, that doesn’t seem relevant to this case. </p>
<p>So very odd that everybody here wants to ride first class in all aspects of life, except education. Her college will be on every resume she ever writes. It’s where her mind will mature and probably where she’ll choose a career. It is the place she might meet her best lifelong friends. There’s a decent chance it’s where she will meet her husband and the father of her children. It’s the school her kids will have a good shot at because they will be legacies. It will be in her obituary. I’d say that’s more important than whether the OP gets to drink Heineken instead of Budweiser.</p>
<p>Y’all can save your breath about U of Dayton…apparently you’ve never lived in the Northeast. When the OP says bambina is Italian and therefore isn’t going to college far away, he ain’t kidding, he ain’t talking metaphorically, and the issue ain’t up for debate.</p>
<p>M2C, what I meant is if the OP is giving one arm of the Catholic Church in excess of $100k for tuition, I don’t think he needs to feel guilty about scaling back what he gives to another arm of the Catholic Church. Come on, you knew that.</p>
<p>All the talk about debt…I’ve mapped out a way to greatly reduce and maybe even eliminate the debt: limiting her time at VU to 3 years. Is that possible? Yes. Even in the outrageously unlikely event that she can’t figure out how to patch together a year’s worth of credit (or even more) from AP exams (for NJSue, here it is: <a href=“http://www1.villanova.edu/villanova/artsci/undergrad/ous/advising/firstyear1.html”>http://www1.villanova.edu/villanova/artsci/undergrad/ous/advising/firstyear1.html</a> ) and summer classes at local public college, she could get pretty much the same result from spending freshman year at a community college. That could reduce the expected debt by MORE than 50%, as explained in one of my previous posts. What happens to the remainder of the debt is up to the OP and his family. If they aren’t willing to make a few sacrifices, then yeah, the debt would be excessive. If they’re open to some temporary austerity measures, and the daughter gets a part-time job, I think they could easily reduce the remaining debt to an acceptable level. </p>
<p>Look at all the bending over backwards going on trying to get Villanova off the table: the engineering school doesn’t grant AP credit (she’s not in engineering); AP credit can’t fulfill core requirements (yeah, but it can still count towards a B.A.); maybe she won’t like VU (there are no guarantees in life); you shouldn’t empty your retirement account (nobody said EMPTY it); they won’t accept credit from another school if VU offers an online equivalent (then take one that they DON’T have an equivalent for); they won’t accept credit from just any college (then find out which colleges they WILL accept credit from); I work all day with clients with retirement/debt problems (the OP seems to be in great financial shape) ; etc. etc. etc. I wish you guys would spend as much time trying to solve this problem as you have inventing half-baked reasons it can’t be done. </p>
<p>Your creativity in trying to justify the bargain reminds me of clothes shopping. I bet every one of us has a pair of pants in the closet which we bought on sale and which we’ve never worn. You know, the ones that were too tight in the waist, but they were 50% off, so we invented reasons to buy them…”maybe I’ll lose 20 pounds”….”maybe I could wear them under a trench coat and nobody will see they don’t fit”…”maybe wearing pants with the waist unbuttoned will come into style.” And there they hang, unused. So much better to have paid full price for a pair that actually fits. Because that’s what we’re talking about here…it might be crazy to spend $200k on the right college, but it might be even crazier to spend $150k on the wrong college.</p>
<p>Where there’s a will, there’s a way.</p>