<p>The parents of current 10th graders are having so much fun on the "It Is 10th Grade and College Talk Begins With Peers" thread, I thought I'd see who else here currently has a HS freshman and see if we can play, too; I know I'm not the only one!</p>
<p>So olly olly all come free!</p>
<p>(Olly</a> Olly what?)</p>
<p>I know you're out there somewhere....! :)</p>
<p>This is 2008; our base year for financial aid will be 2010. So I'm lining up my financial ducks now.</p>
<p>My H and I married last year; we're both in our 50s. He is behind on his retirement savings; he has a CD that comes due once a year. He has been letting it roll over. </p>
<p>As it's my job to pay for my S's college education, not his, I want him to take his money "off the table," so to speak, for FAFSA calculations. Next year when the CD comes due in late March, I will make sure he puts it all into his Roth IRA. (He'll make two contributions, one for this year, which he can do until April 15 of next year, and one for next year.)</p>
<p>That will protect that asset of his from being considered as available for college costs under FAFSA.</p>
<p>I'm here, owlice! My youngest is a freshman. Now, you are going to cater, aren't you??? </p>
<p>Your plan sound very sensible. If you aren't maxing out retirement plan contributions that might be another step to take.</p>
<p>At this stage, I'll be ready to take a breather from this college stuff for bit, but probably won't be able to tear myself away from CC. My kids are so different. It has been nice that as part of my oldest's school search, we've run across some schools that sound great for my youngest.</p>
<p>Owlice, if you're divorced from your child's father, my other advice for planning now would be to make sure that he understands he may have to provide financial information if your son applies to any schools requiring the CSS Profile. I've worked with too many disappointed and stressed kids who can't get their non-custodial parent to cooperate. The time to make amends with your ex, if necessary, and get him to understand what HIS side of things will be is NOW. Additionally, he may need to make some financial moves now as well.</p>
<p>Don't assume your son won't apply to any CSS Profile schools. While there are only about 200 or so of them, it's way too early to predict where he might want to apply. So, I would do everything possible to prepare his father now just in case.</p>
<p>I'm sure you already know this as well, but your new husband's income will still be included on the FAFSA. But, it is a smart idea to start moving assets into retirement, assuming, of course, that you won't need the money in the meantime.</p>
<p>I would also encourage you to run the numbers through FAFSA4caster</a> - U.S. Department of Education to see what your situation looks like now, before the money is moved.</p>
<p>Yay!!! Internet connection is back, and look!! Company!! And company with experience, at that!! Yay!!</p>
<p>2blue, always happy to cater a CC thread, I am. :) Might want to drag H in on the catering, at least behind the scenes. He just made a killer mint pesto; the house smells GREAT!</p>
<p>I'm not maxing out retirement plan contributions; I can't afford to, alas. I am putting enough in my 401K to get the company match, and a little more, too, into a Roth 401K, but that's it. I also deposit regularly to a 529 (parent-held) and to a mutual fund. I will likely move the mutual fund to a Roth IRA; I can use that for college expenses if necessary. I have some savings bonds tucked away, too, for college or emergencies, whichever comes first.</p>
<p>carolyn, thanks! H has no income to speak of, so no worries there. ExH and I are on good terms; however, exH is clueless about college financial matters and doesn't listen to me. I'll try, of course, but I have little to no expectation that he'll do anything different. S knows that I'll do everything I can, and also knows that what I can do alone might be limited due to finances. If his dad ponies up money for college, great, but I plan with the assumption that, with the exception of the 529 the child support goes into (which is under exH's control), no other funds will be forthcoming.</p>
<p>I've run an FAFSA as if S were going this fall, and also a projected FAFSA, taking into account increases in salary and assets, and expect to be able to meet the EFC. Barely, but I think I will be okay with what I've saved and annual money currently going elsewhere (summer camp, for example) that I will reallocate to college. I am reconciling myself to the possibility of having to take on some debt -- not a lot because of our advanced ages :) , but a little -- and to the possibility that S will have to as well. </p>
<p>If I cannot get exH to contribute to college upfront, I may see whether he'd be willing to pay off S's debt, assuming he has some, after college.</p>
<p>I also have a frosh and am wondering about retirement timing. H is elig. for full retirement in 10/10 - last months of base year for FAFSA, meaning after our base year, income would drastically decrease - is there anything we can do to be sure that's taken into consideration at profile schools?</p>
<p>orjr, other than letting the schools know, I don't know. Perhaps someone else might have ideas.</p>
<p>Unless she gets swayed by friends trying to go to ultra-competitive schools, I think my 9th grader will be perfectly happy attending a large state university. If so, her 529 account may just pay for it all!</p>
<p>Buon giorno.</p>
<p>Our financial ducks in a row work has been to give D1 the heads-up about how money will be a factor. And the spouse and I need to read through the federal methodology to see if there are any clever things we can do. I think our only shot will be for when we (theoretically) have one college freshman and one college senior, and possibly in years after if D1 goes on to grad work immediately after undergrad. At least that's what the tea leaves are saying today!</p>
<p>We have a freshman too!!! She is our oldest and we are still recovering from the shock of high school!!! She is having so much fun in high school that I think it will be a while before she is ready to think about leaving for college. We have one rule about college and that is that she must live "on campus". I am very naive when it comes to ACT vs SAT exams or even when she should be taking her AP exams. She claims to need to take the Spanish AP next year?!?! </p>
<p>So glad to have found this site. I'm sure it will take me a while to figure it all out but this site will help!!</p>
<p>You have no control over when she takes AP exams-College Board publishes the schedule and everyone takes the same test on the same day nationwide. (During the first two weeks of May.)</p>
<p>If there is a possibility that she will want to apply to selective schools, check (again on the College Board web site) to see if there is an SAT II subject test in the same subject as the AP test....might as well take them both at the same time.</p>
<p>My son took an SAT prep course the summer after 10th grade/fall of 11th grade. He took the SAT in December and March of Junior year. That was good, because it gives you a frame of reference.....if the average Math score the school takes is 750 and the best your child can do is a 620, that school is probably not in her future. (Of course, it can work out the opposite way, too...the scores might be a pleasant surprise.)</p>
<p>I also have a freshman S, and like missypie, am hoping to stay out of the Ivy-race for him!</p>
<p>Oh, and he's my third...D1 is a junior in college, D2 a senior in H.S. But we're used to shelling out $$$$$ since the two youngest are in private schools.</p>
<p>I've got a 9th grade boy - have mentioned him on underachieving boy and video game design threads occasionally. I am hoping that seeing his sister go off to college in the fall will spark some interest in EC's and building his resume up a bit. His programming teacher told him he should join FBLA because they just started at our HS and didn't send anyone to this year's competitions in programming. I kept my response low-key, so as not to seem too eager to have him join something at school!</p>
<p>mamabear- it sounds just like my S!!! He's playing on the tennis team....barely....but that's all I can get out of him besides ENDLESS video games! However, his grades are good, so it's hard to complain....</p>
<p>Hi everyone. S2 is a 9th grader and I am barely getting over watching S1 make his way through the college gauntlet. I notice mamabear and cgarett's S's are gamers and just want to say--my oldest has always been determined to become a game designer and, sure enough, he found the perfect college program for that. He is sort of the intellectual, artsy type who loves learning, but he has spent many hours gaming. Who could have imagined his interests would take him so far? </p>
<p>Owlice, thanks for starting this thread. I just hope I have enough brain cells left to contribute...</p>
<p>madbean, I looked up where your S will be going, and may be looking for updates as to how things are going for him there. I am not sure my S would want to go so far from home, but a lot can change in 3 years!</p>
<p>cgarrett, I know what you mean. S reads compulsively (science fiction/fantasy of course) and grades are pretty good, so it is hard to complain too much. He's not very social (would rather do his homework than eat lunch in the cafeteria) and has one good friend, and he is fine with his life as it is. I am making him apply for a part-time job this summer, the local car wash hires 15 year olds to dry cars, so he can't try to play video games all summer!</p>
<p>MNmom2, I actually wrote out a plan for tests and pre-college stuff. It has, and will, change as S goes through HS, but if you want to see it, it's here: <a href="http://talk.collegeconfidential.com/parents-forum/468215-if-you-had-do-all-over-again.html%5B/url%5D">http://talk.collegeconfidential.com/parents-forum/468215-if-you-had-do-all-over-again.html</a></p>
<p>And I have a huge worksheet, with multiple spreadsheets, for tracking things. There's another thread around here somewhere about it. </p>
<p>mamabear, my S is underachieving, too, if by that you mean grades could easily be higher with a little more work! Drives me crazy. If he'd just pass in the homework he does, and do the homework he doesn't do, he'd be SO much better off.</p>
<p>And madbean, my kid doesn't play a lot of video games at this point, not since discovering animutations and Flash, but used to.</p>
<p>Hi, I thought I'd join in this conversation. Our first daughter would be in the (gulp!) college class of '15. Kind of the bright well-rounded kid type. Loves math, and is interested in medicine, so we've begun having the "lets be economical about your undergrad degree so we have funds to help you with med school" conversations. Since my dh and I work at a college, she could go locally at a discount, but I'm getting the sense that she wants to try her wings somewhere new and different. (see conversation about funding post-grad desires, above).</p>
<p>wow owlice^^that master plan ! You ARE a planner!</p>
<p>I will stay away as mine is still in MS:-)</p>