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<p>This is the dilemma for so many middle/upper middle income families.</p>
<p>From everything you’ve told us, your admissions and aid “sweet spot” may well be a mid-western LAC. If your essays, LORs, etc. match your stats, I’d expect you could qualify for about $10K/year in merit aid from one of these schools (Macalester, Oberlin, Colorado, Grinnell), plus some loans. Subtract that, plus what you think you can earn from your own jobs ($7500?), then ask if your family can afford the balance.</p>
<p>If you pick a less selective LAC, you may get more merit aid. Pick an in-state public, and the sticker price goes down. Another strategy would be to try to graduate in 3 years, not 4, by leveraging AP/IB credits. That’s what my S wants to do at Colorado College (not just to save money but to move on in life). They granted him 1.5 semesters worth of credit for IB courses. They allow all students to attend 1 summer for free. Between the IB credit, the one summer, and partial credit for music lessons, he should have 1 full year. By this strategy, total COA can come close to the total 4 year COA (with no aid whatsoever) at a good in-state public.</p>
<p>Hypothetically:
midwest LAC = $150K (3 year cost) - $30K (merit) - $20K (work) - $15K (loans) = $85K
State = $100K (4 year in-state full cost)</p>
<p>My kid has almost earned his year 1 work goal from summer earnings plus winnings from a writing contest. Outside scholarships may be worth checking out, too.</p>