<p>If you always said there were cost limitations, then taking the school off the table right now is the right way to go. Let him start thinking about choosing among his other excellent choices.</p>
<p>Here we go again!!! I do not understand why parents do not set acceptable financial ground rules for their children prior to submitting college apps. We had this discussion with our son as a hs jr. It not only eliminated conflicts and disappointments following acceptances but allowed him to consider the financial restraints during his college research process. He solved our financial reqt’s by applying to colleges offering good merit aid, ultimately recieved a total of $370,000 merit aid offers and attended RPI which gave him $25k/yr.</p>
<p>We were happy, he was happy, graduated with a great education and has a wonderful first job.</p>
<p>And given the stock market crash, that $100,000 in savings is not greatly appreciated as we are now retired and depending on savings for a portion of our retirement income.</p>
<p>I agree with prior posters – “whatever you wish for no matter the cost” is a terrible way to raise a child.</p>
<p>You make choices. I did let DS apply to schools with no regard to cost. Yep, I am in a pickle now. LOL Admitted to California school $15,000 more than what parents have committed to. Chance of OOS financial aide is probably zip. DS does NOT want to go to instate school accepted to. He most likely could not transfer from in state to California. So he would be stuck 4 years in a school he didn’t want to go to. No, I did not raise him to think that he could have what he wanted regardless of cost. What if he takes up the difference between loans, savings, and a job? Interestingly, the previous poster pointed out that the money invested in the stock market that could have been used for college bills now has lost money. Would make you wish you spent it on your kid. Oh, btw, have old home, junky car and some money in the bank in CD’s. He is the youngest and maybe I will take my risks and he will too. You only live once. People live differently financially and make different choices based on their own situations and goals in life.</p>
<p>Indiana91, of course the financial issue is a legitimate one.</p>
<p>But I got the feeling from your initial post that you had some other reason for not wanting your son to attend this school. Was I right? And if I was, would you like to share that other reason with us?</p>
<p>We’re in a similar situation, where S is excited about a school that offered no merit/FA. He applied hoping for merit aid, but we MIGHT have been able to swing it when he first applied. With the market tanking, our savings is much less than it was, both his college and our retirement, so that has changed the parameters. We’re willing to pay for his schooling, full price of state school or price of privates with merit aid, we are UNWILLING to cosign for the difference. It might not be the popular tact here on CC, but I think it’s irresponsible for us as parents to allow him to graduate with a Bachelors and $60,000 in debt, while we’ve still paid over 100K for his education.</p>
<p>OP, if you did tell him the financial limitations up front, then he should understand that if the FA didn’t come in from “dream school” then unfortunately it’s off the table. I understand that’s really hard to do though! What is it about this particular school that he loves so much?</p>