<p>I would also offer the #2 paid or #1 with her taking loans. I’m assuming she is working in the summer and could also off-set some of the remaining or will that be her spending money for the year. For a net difference to you of $3000ish.</p>
<p>This is why I Love CC. Smart parents come on and come up with these great ideas. #1 with loans for her or #2 no loans.</p>
<p>I heard of a parent on here who paid off the students loans as a graduation gift. I have to say I wish I would have thought of that scenario, myself. It’s skin in the game and a gift if you can do it when it’s over.</p>
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<p>Can’t figure out what school this is but if she wants to study journalism she is not going to be making much money when she graduates. I’d take door #2.</p>
<p>So many kids change their majors when they get to college, I’d choose the better school, not the school with the better major. If the difference is only 8K, then I’d let her choose #1 with work and loans or #2 free of debt. We told our kids we could afford a pulbic instate which would be free to them. If they wanted private they needed merit aid and loans, but no more than 20K upon graduation. They both work in the summer, and now on campus, and contribute about 10K to their education and living expenses each year. They pay for their own books, spending money, computers and contribute 5K to tuition. I like this system a lot because no one comes asking me for money. I don’t have to figure out whether they can afford to do xyz, they have to figure it out. It is a nice transition to adulthood when they will hopefully be self sufficient and not living in my basement!</p>
<p>On succeeding at the “like” school:</p>
<p>Happykid dropped the “love” school like a hot potato when the aid package arrived. She is so happy at the “like” school. I don’t think she has expended one bit of time on the “what ifs”.</p>
<p>Talk over the money with your daughter. I’m betting she can walk away from #1 without a tear.</p>
<p>I have to say that how much she LOVES her #1 will probably change when she has to spend some of her own money to attend :D.</p>
<p>As to love vs like…if you’re not with the one you love, love the one you’re with!
Nobody can really tell for sure until they’re actually at the school. My kid had some doubts when he started school but now can not imagine being anywhere else!</p>
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<p>So no discussion of the dollar amount? No limit set as to the maximum you could afford? So if all three schools had come in at the same price as School #1, you would have been able to afford any of them? And if School #2 and School #3 had come in at, say, $500/year less than School #1, School #1 would still have been off the table?</p>
<p>I think your “deal” was badly thought out, and it seems disingenuous for you now to say that you can’t afford School #1, when, clearly, you can. And to saddle your daughter with almost $30k in debt when you don’t need to, just to honor this absurd agreement . . . really, why would you want to do that???</p>
<p>Why not acknowledge that the “deal” was badly thought out and offer to split the difference with her? You pay $4k/year and she covers the rest through summer and school year jobs. $4k is a manageable amount for her to earn on her own, and such an arrangement would allow her to have a personal investment in School #1 without later being saddled with debt.</p>
<p>By the way, just wondering, who’s paying for the expensive summer program she may want to do? Just speculating, of course, but is this something you’ve even considered?</p>
<p>I graduated with a journalism degree from UGA–and even way back then–the j-school was ranked top 5 in the country. It is an outstanding program, UGA is a great school and Athens is a fabulous town. </p>
<p>Having said all of that, I will add that I believe that is the internships and other opportunities to learn/practice your craft outside of the classroom that make the biggest difference. I think this is true of almost any major, but it is definitely the case when it comes to journalism. Maybe it would be helpful if she does a little research into what opportunities are offered at all of the schools she is considering (and also into what the placement office does to help after graduation) before she makes her final decision? </p>
<p>Is your daughter the type of person who is going to seek out a position at the Red & Black (if UGA is indeed her first choice) or apply for an internship at CNN? If so, the proximity of UGA to Atlanta and the reputation that the j-school has nationwide, might be worth the extra money. Or maybe one of the other schools is located in an area that would afford her more opportunity? These are some of the things I would look into. </p>
<p>Best of luck!</p>
<p>We are at the other end of the let D pick #1 favorite (college graduate class of 2012) with the difference in loan/merit on her. </p>
<p>Would we do it again? No, the cost of the school continued to increase which required more loan on her, we agreed we would pay all her instate tuition/room/board, and the difference at the time was 7K. We knew tuition would go up, did we anticipate it going up as much as it did, no. </p>
<p>IMO, the career placement of said schools would be the deal breaker if we were faced with the choice again. Schools can make any program look good, but the proof is in the companies hiring on campus. If they don’t have a strong career services in your major, watch out.</p>
<p>My opinion on your question would be what percentage of your target affordable COA the 8K difference is. In some cases, an 8K difference is substantial; in others, it’s a drop in the bucket. If you D really loves school #1 and you can swing the 8K now, I’d say let her go. Your D can work in the summers and take out Staffords to offset some of the cost. But, as posters above have pointed out, it will be more than a 32K difference by the end of 4 years. At some colleges, that barely covers a semester and a winter term. At others, it’s a full year or more (depending on your package).</p>
<p>It would be really hard for me to refuse my dd her #1 choice if it was something we could afford. To turn my back on that dance around the house and on the fact that her hard work got her into a reach school? Not sure I could do that. </p>
<p>That said, I agree with above and I’d split the difference with her, have her pay 4k. The work experience is great for her anyway. And I’d always want my child to have some skin in the game.</p>
<p>“My opinion on your question would be what percentage of your target affordable COA the 8K difference is.”</p>
<p>This is the rub. I agree with NJSue.</p>
<p>Mine had dreamed about No #1 for years, wore sweatshirt to school when she got in, but realized the cost difference and went to #4. She was happy at #4 (but we’ll never know how happy she could have been at #1). Very happy now that she is working her way through grad school and has no undergraduate loans. In her field I don’t think it really made a difference at all for grad school or job.</p>
<p>Who nowadays gets a job (in journalism) with an undergraduate degree (in journalism)? That’s not a rhetorical question. Putting aside what I think of degrees in journalism (which isn’t much), she is likely to need a graduate degree, and there are virtually no fellowships in it (as far as I know.) So who’s gonna pay?</p>
<p>(If that’s wasn’t an issue, I’d let her go to school #1 and be done with it. I can afford it now, and who knows what tomorrow may bring?) (Full disclosure: we couldn’t have afforded either, but the scholarship/financial aid goddesses shone their blessings upon us.)</p>
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<p>However, there is another kid behind, and the OP hinted that more spending on the current college student could cause the next one to be more financially limited in college choice.</p>
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I like this suggestion. That would be a good life lesson for her and for you.</p>
<p>OP here - I thought I’d finish the post and share what was decided.</p>
<p>At first I liked the loan idea but when proposed to DH, his quote was “No changing the rules when we are about to cross the finish line”. I also had to agree with him because if she sticks with journalism, she be trying to pay off student loans with crummy entry level jobs or non-paying internships - what a burden. I’ve paid off student loans through my 20’s and it stinks!</p>
<p>One poster wrote that the deal wasn’t well-thought out. Well, most of her friends all have the same deal, most with no choice - they’re all following the money if they go out of state. We have so many choices in CA with our CalStates(23) and UC’s(10), it doesn’t make financial sense to us parents (mostly UC and Cal State grads, btw) to go out of state if the price doesn’t come close to our UC in-state price.</p>
<p>Well, we waited around to see if #1 was going to give a scholarship but nothing came. She did sound disappointed that it came down to #2 but DH gave her the pep talk that #2 and #3 “want you”. They’ve showered you with cards, personal letters, and scholarships. You should go where they want you. (Didn’t want to mention school names and veer the discussion into what was the better ranked J-school)</p>
<p>So, now a few days later, she’s on #2’s Facebook “Class of 2017” site texting/friending all these new people. Her suite-mate found her and they’ve been corresponding a bunch and others kids are “Wow. You’re from California - -why did you pick here?”. She’s getting excited. I also asked her if #1 would be worth it if she had to take out loans all four years (I had to know) and she said “No way.” I think all will be well :)</p>
<p>Thanks for the update!</p>
<p>Was her taking loans out to cover some of the cost of college ever discussed before? If not, I think it’s a pretty lousy thing to do to her now. JMO.</p>
<p>ps - Didn’t realize there had been an update to thread before I posted.</p>