rant about financial aid

Paying for College
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At least there are tools these days like the NPC so that students know what they’re getting into before they apply. Education is expensive for the middle class. It’s expensive for everyone but the very wealthy and the very poor that get into very elite colleges. But it’s absolutely not necessary to go to a private college and pay $50000/yr to get a good education. There are lots of good state universities that offer the “college experience”, strong academics, many other good departments, and top ranked departments.

The UCs, UW Seattle, Purdue, UIUC, UMass Amherst, Georgia Tech, Minnesota, Rutgers, Clemson, Alabama, Penn State, Michigan, Texas, Florida, Wisconsin, Connecticut, Iowa, Utah, Arizona, Arizona State, Kansas and I can go on and on. These are good schools for 96% of top students (of course, students and their parents may have to make a sacrifice to go to a more elite school if they get in). Many of these schools offer rigorous honors courses and the really top students can get to graduate courses their sophomore or junior year. They’re unfortunately still not cheap, but much more affordable than private colleges. And the other 4% of top students can get generous need based aid at Harvard, Princeton or Stanford, Amherst, etc.

In a sense, US students should feel privileged since even these “non-elite” colleges are much better than those in other countries.

People should be careful about taking on tremendous debt. But taking on some debt to go to an elite school like Hopkins, USC, Cornell, or Chicago is a calculated risk that could pay off really well. These schools also have big endowments to make sure students are not drowning and suffocating in debt. But it’s still not the magic ticket to success.

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To be really honest, I think that the dream of going to NYU, UCLA OOS or another fancy expensive name college is largely a product of good marketing. If it’s affordable, it’s not a bad choice. But students ought to look closer, and they’ll see that perhaps the local state university provides a very comparable education at a much lower cost.

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@greenteen17 what state are you from?

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I have two thoughts. First, this isn’t a financial aid problem, it is a college cost problem. When I graduated from HS my mid level engineer father made about $30k per year. That was probably the equivalent of around $100 - 120k in today’s dollars. Tuition room and board for the average state school at the time in our state was in the $3-4k per year range or about 10-12% of my fathers salary. Today, in the same state college costs would be be in the $20-25k range or nearly 20-25% of his gross salary. Double what it was when I was graduating.

Second, most middle class students really didn’t consider private schools unless they could be assured pretty good merit money. Most of the students I knew who went OOS or to private schools were the doctors or bankers kids or the valedictorians. Most of us never really considered those schools.

Another point. Being low income is NOT a boon. Yes a greater portion of your college costs may come from financial aid but it does not make it easier to attend college. Lower income students can find it very difficult to make up the difference between what a college costs and their financial aid.

Finally. I don’t know what state you are from but many state universities have the quintessential college feel. Good luck.

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Most low income kids don’t get to go to those schools. In fact, most low income kids don’t get to enjoy the luxury of a residential college at all. What most of them get is the ~$5k Pell grant and ~$5500 federal student loan. If they’re fortunate, they have a community college or local commuter school they can attend. If not, they may not get to go to college at all.

People who envy the poor should quit their jobs and ditch all their assets. Good luck getting one of the few available spots at a meets need school if you do. There are many, many more students who want them than there are seats to fill. Fortunately, you’ll no longer have to worry about the disappointment of settling for dorming at a state school as your backup. That likely will no longer be an option.

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I agree with people on the poor aspect. I’m very grateful to my parents for being able to provide for me everything that have so far. They wouldn’t be able to do that if it were not for haveing money.

On the flip side, just because someone has money doesn’t mean they are going to pay 250k+ for an undergrad education at an Ivy League school. Most rich people aren’t rich because they go around spending their money willy nilly

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@twogirls New York

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There are many wonderful public universities with beautiful college campuses. What state are you in?

If you think it’s so wonderful to be very low income…take a gap year or two. In that time, convince your parents to quit their jobs, and give all assets in the bank away. Apply for SNAP. Sell your house. Move into subsidized housing.

You can become low income also.

OR you can start counting your blessings. Consider the things your middle class income and lifestyle have allowed you to do that very low income students can’t access at all.

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Greenteen17 what are your stats? What are your parents saying they can/will pay? Do you have siblings who are ( or will be) in college during the time you are also in college?

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FYI, we have a rant thread if all you want to do is complain: http://talk.collegeconfidential.com/parent-cafe/319650-say-it-here-cause-you-cant-say-it-directly-the-get-it-off-your-chest-thread.html

Can’t respond on that thread.

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@twogirls I have three siblings, but none will be in college at the same time. They all live at home.
My parents can pay around 10,000 each year for the first two years, and they’re unsure about after that.
My situation is unusual, so my stats don’t tell the full story. I got a 31 on the ACT, but I’m taking the SAT in a few days. My gpa is around 96.
Thanks for the help :slight_smile:

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Do you know your FAFSA EFC? Are you applying to schools that meet full need ( they require the profile as well and will give you a different EFC than the FAFSA)?

As of now, your parents can contribute $5000 a year ( maybe more).
You can borrow $5500 the first year.
You can earn about $3000 by working.

You need to apply to schools that will give you a full tuition scholarship or will meet full need based on your EFC ( the schools determine what your need is- you do not). I am not sure what your EFC is but if you are middle class ( as you say), it will be much higher than $10,000. You need to investigate schools that give high merit awards.

Are you a senior?

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Also, what state are you in? Do you have any public universities with honors programs.

Previous posts from this poster indicate interest in some Ivies, Wesleyan, Lehigh, FM.

I didn’t see any safety schools listed, but maybe those are just not posted here.

The key is…can this student afford to lay their family contribution. Several of the schools of interest do NOT give merit aid…at all.

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@twogirls I’m a senior. By the way, I am applying to some affordable schools - CUNY Queens and SUNY Binghamton. I may end up at one of those if I can’t afford other schools.

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You are fortunate to be in NY state. Lots of SUNY schools. Have you considered applying to one where you might get merit aid…Buffalo for example?

Are you eligible to receive any TAP money?

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Binghamton is a great school.

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@greenteen17 apply to Buffalo, Binghamton, Geneseo, New Paltz and Oneonta. Even if you get accepted to a school that meets full need, it does not seem as though your parents can pay the EFC.

Apply to SUNY and CUNY schools. Fill out the NPC for schools that meet need and if the cost seems reasonable you can apply and see what is offered. A lot of these schools that meet full need are highly competitive for acceptance. You can also research schools that give full tuition based on stats, but be aware that you are going to have to go significantly down the food chain for these awards. Additionally, the deadlines are quickly approaching. I would go to Buffalo or Binghamton. If you want smaller classes then choose one of the smaller SUNYs.

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That’s enough to commute to a SUNY (or CUNY if you’re in/near the City). In state tuition is only ~$8k/year.

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“I would go to Buffalo or Binghamton” Buffalo offers more merit scholarships than Binghamton. OP, be thankful that you live in NY, NOT PA or IL

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I was going to add that if @greenteen17 is in the top 10%, depending on her major she can qualify for the NYS STEM award, which is full tuition to SUNY.