<p>I was recently admitted to Tufts and I could not be more thrilled because I am absolutely enamored with the school, and it could not be a better fit for the next four years. But, I did not apply for financial aid because my parents said we probably would not qualify for much and I was so focused on my application and getting into the school that I always trusted my parents word that they would figure something out to cover the cost of tuition. I never really anticipated being accepted and since it has become a reality, so has the fact that my parents can only afford to pay out of pocket so much of the tuition without delving heavily into their retirement, etc. I could potentially graduate with far more than $50,000 in debt if I do not want my parents to work until the day they die because their savings are all dried up. My parents are still insistent upon the fact that they are willing to do whatever to make it work and they will help me pay off the enormous debt upon graduation, but in my gut I feel this dreaded hesitation to let this happen. I am so incredibly conflicted because I want to be at Tufts, but the truth of the matter is, I could go to a public university for the next 4 years, not be as thrilled as I would be at Tufts (and live forever with the fact that I turned Tufts down). Like I said, we are one of those upper-middle class families who are stuck in a sticky situation because of the financial aid policies at most all private universities. I am supremely frustrated especially because my family and I live fairly modestly, not spending exorbitant amounts of money on clothing, cars, material things, rarely going out to restaurants, etc. and I know somebody who is attending a Tier 1 university (with a $50,000+ per year tuition) who received financial aid to cover the full cost of attendence (he pays $0 to attend) and his family lives a fairly lavish lifestyle (driving luxury cars, wearing designer clothing, eating meals out frequently). While I am paying off my college loans in the years to come, he'll be spending money on a new house and designer suits. (Note: His family does qualify for financial aid, but the money they do have goes straight to material things.)</p>
<p>Excuse me for my rant, I am just truly saddened because I want Tufts SO badly, and the situation that many admitted students to private universities are placed in is unfortunate. So I just do not know what to do. I know there are posts in relation to this very topic, but I figured I would post it just one more time :)</p>
<p>You should contact the admin office/financial aid. If you are close enough to go to the admitted students open house, go. I think your explanation of your feelings about debt and the burden it will place on your parents are very important. Tufts may have some suggestions for you, or some creative ways for you to finance your education. You may also be able to apply for financial aid in years ahead and if it is something that you want and your parents are wiling to help with, at least explore all the options with Tufts, not just here.</p>
<p>They can be very helpful, and if they accepted you, they may be willing to give you good practical advice on how to make it work.</p>
<p>You should also tell your parents what you have told everyone here: you feelings and your confusion on it.</p>
<p>If the financial situation of your family is truly as dire as you make it sound, then please please please go to a public university. You will regret spending 200k for an undergrad education at any college.</p>
<p>That being said, if your family’s financial situation is so, why didn’t you apply for aid? Most respectable private colleges, Tufts included, meets 100% of the aid of its students. From my experience, this aid is usually quite fair - a family will able to pay tuition with their current income alone and will not have to dip into any savings, assuming they cut back on some lavish expenses from their high fluting pre-college days. </p>
<p>What was your FAFSA EFC like compared to the yearly income of your family? If it’s too high then someone probably make a mistake somewhere and you should reapply.</p>
<p>I think my initial post came across more dire than I intended, but essentially, my family does not qualify for much aid because technically my parents combined salaries could cover about half of tuition (they are paying for other children in private education institutions as well with their income), but in order to pay for the other half of tuition, they would have to delve into their savings that they put aside for retirement, etc. Over the course of my four years at Tufts, by drawing from their savings they would predictably dry up much of what they had saved, which is my concern. My family is not in crisis (which I am extremely grateful for), but as I’m sure you can assume, I feel guilty for digging into the money my parents had saved up. The Financial Aid offices at any university not only look at the income but the assets that one possesses, so this would predictably disqualify us from receiving any aid (even just a modest amount). Anyways, this is most definitely not an attack on Tufts in particular since we were the ones to not apply for aid at any of the colleges to which I applied. So, in the meantime I’m looking for external merit scholarships to compensate for the next year, and for my sophomore year at Tufts, I will apply for aid.</p>
<p>Unfortunately, financial aid offices don’t differentiate between money saved for college versus money saved for retirement, unless the money is is strictly locked up such as savings vehicles that exist for retirement that are unconsidered “untouchable”, like a pension plan that cannot be accessed without severe penalty until/unless one retires. And, that is why there is a whole industry devoted to providing loans to both parents and students, to pay for college.</p>
<p>Nobody forces your parents to send their kids to private schools. FA offices look at your parents income and assets, as you mentioned, and determine what a reasonable contribution from them would be. They do not look at what you parents spend on private institutions (which is a LUXURY) nor should they. </p>
<p>Private college is expensive for those who can afford it. By your own admission, your parents CAN afford it. If you would prefer to lessen the burden on your parents, which is admirable on your part, take some of the burden on yourself. Student loans aren’t hard to get.</p>
<p>The financial aid process in today’s higher education system is extremely unfair; It heavily favors irresponsible lazy people and make it very challenging for hard working middle class families to send their kids to private colleges.</p>
<p>If I were in your situation I’d go to a state school. 99.9% of the people at top private colleges do not come close to taking full advantage of the resources offered. If you make a conscious decision to make the best out of the collegiate experience, then you’ll be happier and end up ahead of those who did attend high cost private colleges.</p>
<p>FYI this is coming from someone who went through the exact same decision. I was accepted into two schools ranked in the top 10 in Usnews, but neither offered me more than token aid. Luckily I had Tufts for free via employee benefits. Otherwise I probably would have ended up going to Umass Amherst, which I would have been totally content with.</p>
<p>Edit: On 2nd though I kinda wish I did go to Umass; Easy 'A’s are always nice.</p>
<p>Hmm, I am just posting because I feel like I am in somewhat of a similar situation. Tufts was my number one choice school throughout the college application process and before that, and getting accepted was such a relief. When applying for college, I had asked my parents numerous times if we could afford paying 50k a year and they said not to worry about the costs, so I didn’t have the financial costs burdening my decisions of where to apply. Now that I was accepted to my school of choice, my parents are sorta facing the reality that their EFC was accurate and that they are expected to pay the full 50k + tuition. They were anticipating a bit of aid and while my parents do make a reasonable amount, and I guess we’d be considered well-off-middle class, they cannot pay 200k for college. They had prepared for half that amount, but without any aid at all, I don’t really think I can go to Tufts >.< Even if I was offered just 10k in aid, my parents would be inclined. I understand that financial aid is based on ability to pay, as in gross income, but my family lives on Long Island and the cost of living is quite high. Like, I have a reasonably sized house and everything, but even my parents are still in shock how they could be expected to pay so much. As with luxuries as to what La Estrella was saying, my family does not go on elaborate vacations and both my parents cars are about 15 years old. I am so distraught about what to do now, but I want to attend Tufts so much more than any of the other schools I applied for. My greatest challenge was getting accepted and cost wasn’t meant to be such a huge problem, but now that it is, I am basically between Tufts, my dream school, and a state school, which I had never anticipated going to. I plan to appear to the financial aid office, but how much good will that do?</p>
<p>Please remember that you can apply each year for financial aid, and there may be more help down the road. The other option both posters have is to take student loans, perhaps later in the process to offset their parents’ contribution. They also have the option to work summers,etc. which could at least off set personal expenses, and perhaps something towards their books. Tufts does have a policy of assisting all current students to stay in school, and not have them withdraw due to financial constraints.
Whether it is worth it to the posters is up to them.</p>