My kids are a few years away from starting college, but I’ve been reading here off and on for awhile in order to get part of a reality check about paying for college. Ages ago, DH & I had totally different points of view about college. My opinion used to be that the kid should just focus on getting into as tip top of a school as he/she could and the parents should pay for it through whatever way possible, even if it meant taking on tons of parent student loan debt.
My husband, on the other hand, was a lot more practical about it and basically said, “No way are we going into tons of debt for our kids to get some degree in underwater basket weaving.”
Thanks to the boards here on CC, I’ve learned a lot from all of you…stuff like:
There are some really good colleges out there who offer a lot of merit aid...even full tuition merit aid without being a National Merit Finalist.
In order to consider schools like those in #1, you have to pull your head out of your rear end and think outside the box a bit. There are some decent schools all over the country that can be VERY affordable.
2a. Don’t count out certain colleges because you think that they have a reputation for being a party school. Even the “party schools” have plenty of book worms and nerdy students who aren’t into partying all the time.
Don't automatically mentally throw away your in-state flagship universities because those will likely be the most affordable (with some exceptions, like if you are in CA....everything costs more there).
The definition of a "safety" school. It's NOT just a school that your kid will automatically get accepted at. It has to be an affordable school, too. AND a school that the student would be happy/satisfied to attend.
Sure, go ahead and apply to an Ivy League school if you want, but don't have your heart set on it because getting in is like winning the lottery.
If you DO let your kid apply to an Ivy League school, you BETTER check the NPC ahead of time to see if it's a school that you could even afford. And if you can't afford it, don't apply.
Don't be stupid and have your kid totally miss out on taking the PSAT test in junior year (National Merit scholarship qualifying test).
Don't let yourself get caught up in the hype of other parents who are chasing after the prestige factor of schools...aka looking for bragging rights.
Don't pooh-pooh community college.
Taking an AP exam can save your kid a lot of money down the road, especially if your kid's high school pays for the student's AP exam fee.
Don't wait until spring of junior year to start thinking about college.
There are likely several colleges out there that will be a "good fit" for your kid.
Don't rely on the guidance counselor's advice as gold. Many of them have a lot on their plate and might not give your kid the best advice. But if you luck out with a good guidance counselor, that's awesome!
I never even knew what a Common Data Set was before and thanks to all of you, now I know what valuable gems of info they are!
Lots of great lessons. Thanks for consolidating. #6 is huge. We visited four Ivies but only applied to the two wher NPC was affordable. I know folks who never checked them and it can be sad if a student is accepted.
4 as well. Just read the board in April of "I was rejected everywhere" which really means "I hate my one safety."
As I’ve been learning stuff here, I’ve been sharing the info with a friend whose oldest is a junior in high school. The mom hadn’t even heard of the PSAT or how you can qualify for a National Merit Scholarship. In her case, she is Hispanic, so taking it also could qualify her daughter for a National Hispanic Scholar award. You should have seen how big her eyes got when I told her that it could mean that all of her college expenses are totally paid for.
Depends on her income^^.
My kids’ qualified for the NHRP award based on really high SAT scores and GPA’s. They got really nice certificates and were honored at their high school.
Not one dime of aid was given because of our income; there are a LOT of hispanic kids with great stats but the money is not flowing to everyone who qualifies.
It is good to tour a range of schools, just to get a feel for the differences–the range in size of campus, facilities, rural v urban, see snow fences and snow poles. I agree it’s important not to have your heart set on ONE U, especially if it’s selective and may not be with him your budget.
If your kid has good stats (grades and test scores), look for Us that offer merit to kids like yours, where your kid can really shine.
If you have more than one kid, be aware that the 2nd kid may wish to follow the 1st kid to the same U. It’s great if 1st kid got nice merit aid but pretty pricey if 2nd kid is full pay. Of course you could say no, it’s too much without merit, but I couldn’t say no to 2nd kid, nor could our friends.
@tucsonmom I wholeheartedly agree that the information about financing an education is the most important reason to come to this website as a parent. I have seen the expert helpers really get some families out of a jam, even at the 11th hour.
When S applied to college in 2007/2008, most schools didn’t have a NPC. Many of us used Amherst’s, because it was possibly the only one available at a more selective type of school.
It is so great that this tool is now available. One of the first things people are advised to do here is “run the NPC at all your schools.” I wonder how widespread this knowledge is.
That #4 is important. Love thy safety. Have a couple so that the kiddo has a choice to make. Build your list frommthe bottom up…choosing that sure thing, affordable, would be happy to attend schools FIRST.
The PSAT for National Merit Scholarship MUST be taken in the Fall of Junior year ( October?). Hopefully, the friend’s child has already taken this test. National Merit Scholarship amounts vary depending on the college.
I wish I had a dollar for every post that said “yes, but what is your FINANCIAL safety?” We never heard about those growing up but now they should be in everyone’s vocabulary.
I also wish more people were aware that some privates can be less expensive than publics, especially OOS publics***.
***especially in places like MA, where in-state cost is about 30k
I think the safety question ought to be reframed as: What affordable, easy for you to get into, school are you dying to attend? I look back in horror at how little regard my daughter had for her safety. (It was a fine school, FTR.). Fortunately for her, she didn’t have to go there, but I’d encourage her to do things very differently now.
Folks tend to pay a lot of attention on whether a kid can get into a particular school (chance me!!).
But if you can’t pay for it, it is the same as getting rejected (other than for bragging rights). The pay-for-it piece is a lot more complex and important than the getting-in piece.
Also, there are foreign unis that may cost the same as an in-state flagship (3 years at an English uni roughly the same now as 4 at a good flagship with the weaker pound).
And yes, the CC route may be a smarter option if you can keep up a high GPA in CC. UVa has guaranteed admissions for VA CC grads with a certain GPA. Most UC’s do for CA CC grads who hit a certain GPA. It’s also easier to get in to UMich transferring from a MI CC or branch UMich than straight out of HS. Easier to transfer in to UNC as well if you are OOS than from out of HS.
