<p>thumper-I would love to have a parent like you…</p>
<p>:)</p>
<p>Yes, that is one reason for being frugal. :)</p>
<p>However, some are frugal because they have a huge fear about rising costs post-retirement. Some are afraid that they won’t have saved enough.</p>
<p>We also don’t know how many kids are in this child’s family. If there are 2 or more, they may also have to consider how much they can spend on both (or more) kids.</p>
<p>Both mine are going to end up at the “middle price” colleges…neither the cheapest nor the most epensive and we’re OK with that. There is a value equation that people might have encompassing finaical, educational opportunity, environment that often comes into play. Most parents have a “favorite”…the OP could always ask that question and maybe glean some info. If it’s all about cost generally a parent’s favorite will be the cheapest.</p>
<p>Thank you guys for taking the time to respond to this thread! I really appreciate it. I’m going to take everything said here into consideration and not worry about this too much until April when I know what my options are (and how much they will cost).</p>
<p>Flowering Spade…</p>
<p>Let us know how it goes! </p>
<p>:) </p>
<p>Best wishes for you.</p>
<p>I am in almost the exact same situation as the OP. One of my parents are retired (works a day or two a week) other parent works fulltime and their salaries together maybe equal 60-70000. My parents have already put one kid through college though my sibling helped quite a bit. I got into my dream school and costs nearly 35000 a year (pending my living situation). Now my I consider my parents pretty smart people and they have their house paid off and no debt whatsoever. They have quite a bit of savings for retirement (enough to live on right now if they were both to quit) (one gets full + retirement from the government) however FAFSA seems not factor in that they have to live on it the rest of their lives. So to sum up im not the brightest kid out there (mid 20’s act, 3.8 gpa) so I dont qualify for any significan merit scholarships and my parents “have” too much, so I get stuck in the middle. My parents are not filing fafsa bc they require stuff like IRA, yada yada and stuff they have accumulated for 30-40 years. Im trying to help by living in a cooperative house (like a frat but much cheaper bc everyone does the chores but i dont know if I will be given a bid) but im afraid after everything I can do I can only get it down to around 30000.</p>
<p>Any I deas? I will go somewhere else to avoid loans.</p>
<p>^^^^</p>
<p>First of all, how much will your parents contribute to your education each year?</p>
<p>At this point, that will be the determining factor as to whether you’ll be able to go to your first choice. (What school is this?)</p>
<p>Where else have you applied? Did you apply to any financial safeties?</p>
<p>I live in Ohio first of all…
Purdue University and yes as of now Im admitted to Miami (2000 a year in scholarships so it is equivalent to any other ohio “state” school) and U of Cincy. I am still waiting on Ohio State. So Purdue would cost about 10000 more than the other 2 to 3 (Im still holding out for OSU (easy second choice) but its not looking too good from what I am seeing on the OSU board)</p>
<p>How much will your parents contribute each year? Have they told you? If not, you need to ask. </p>
<p>:)</p>
<p>No I havent really asked, I think were just waiting on OSU, if its a no then were going to try to make Purdue work if I get in I will still enjoy going to OSU.</p>
<p>Are you saying that your parents are waiting to find out if you get into OSU before they say whether they will pay for Purdue? </p>
<p>Are you certain that if you’ll get into OSU that they’ll pay for all of those costs?</p>
<p>Cost of Attendances…(COA)</p>
<p>OSU instate… $23,000</p>
<p>Purdue OOS… $37,000</p>
<p>The above indicates that there’s more than a $10k difference between the two schools. </p>
<p>(BTW…is it really harder to get into OSU than it is to get into Purdue???)</p>
<p>not filing the fafsa means you CAN"T take out even an UNsubsidized stafford loan which you are entitled to do REGARDLESS of need.</p>
<p>also the fafsa doesn’t ask how much $$ you have in retirement savings. It DOES ask how much you are putting into tax deferred savings for the previous year.</p>
<p>^^^</p>
<p>I agree…but, I get the feeling that the family is against loans…which is fine if the parents are willing to pay for everything…LOL</p>
<p>I’m so mean that even if I COULD afford to pay full freight, I would make my kid take out the stafford loans ANYWAY. I might help them pay them off after school, but it would put their skin in the game and repaying on time helps establish credit. Am I mean or what !?</p>
<p>I dont really know whats going on with OSU, I seriously thought that is where I was going to end up and it still may be but until i hear something from them (end of march is the latest I would hear) i dont really know. They are also instate which is a plus in admissions but I just dont know. </p>
<p>One of my parents attended Purdue so that may have helped me a little bit.</p>
<p>Yes I think they are waiting to see if I get in (and I am really), if I get in it is up to my parents. I will be happy either place, but there is something about Purdue I cant really explain, I just really love it there (Ive been there about 5 times) so if they are willing to help with oos tuition then ok if not then I will go somewhere instate (I really like Miami as well as OSU).</p>
<p>Yes they will pay for all of costs (at OSU for sure and probably Purdue) plus I will contribute the little I have and i intend work a little while im there. They have told me they have the money and can pay for it (Purdue) but i dont want to make them have to continue working if they need more to live on the rest of there lives, it is their money, not mine.</p>
<p>To address the cost of attendance…
OSU 23000 (did you find this on their website?)
Purdue 37000… I recently attended a rush and interviewed for cooperative houses as ive stated before (like a frat but no hired help, we do all of it), so at most for room and board I will be paying 500 a month (rent and food), 8 months out of the year which is about 4000 a year. So with avg room and board around 9000, that brings down the COA by about 4000 which is 33000, about a 10000 difference. (I will not be living in a dorm if I attend Purdue)</p>
<p>I can always get a loan if I truly need it, but not until after the first year, my parents and can file fafsa any year right? Its not like if you dont do it your first year you are not allowed to get a loan for the rest of your college career</p>
<p>
</p>
<p>Um, helping your kid pay off their debts and establish good credit is the opposite of mean. “Mean” would be making your kid turn tricks to pay for school.</p>
<p>
</p>
<p>Not mean at all; we are doing this with both Ds for the reasons you give. I did this when I was in college, and I don’t see any reason why they can’t do it too. The Stafford loan amounts to only about 15% of the total cost of private college for them.</p>
<p>^^I concur, not mean
My parents are making me cover all my college costs…and even I don’t think they’re mean</p>
<p>^^^
I am going to do the same with both of my children (senior & junior). As you said…it helps them with establishing credit and to have some “skin” in the game.</p>
<p>sorry I guess you couldn’t hear my sarcastic ‘tone’ :-)</p>