Should parents plan for the possibility of more than 8 semesters' of college costs?

<p>I switched majors and had to go an extra semester to complete my degree (switched into engineering). Parents helped as much as they could for 4 years, but for the ninth semester, Dad marched me down to the bank where I took out a private loan in my name to cover what the Govt loan and grants (and my job) wouldn’t. Husband couldn’t complete engineering in 4 years either (he transferred bwtween engineering majors), but he planned ahead and took a couple summer courses so he finished in 4. Agree that engineering is really tough to complete in 4 years. </p>

<p>We told S we would pay for the equivalent of 4 years at the flagship and he could pick any school knowing that the more expensive ones would mean loans. He surprised us by getting a 4 year half tuition merit scholarship and a bunch of other scholarships at the flagship so we told him we would apply what ever was left over after 4 years to Law school. He’s a little smarter than Mom and Dad and started with a buch of APs so we do not anticipate any delays.</p>

<p>I agree with you, mommapalooza. Sometimes, finishing in 4 is short-sighted. D11 changed majors. Fortunately, it simply meant summer school. Also, since her aid is an employment benefit rather than a scholarship, more than 4 years will be covered as long as she is still working toward her first degree. </p>

<p>In D14’s case, the pot of money is finite and her aid is likely to be the kind renewable for just 4 years. While I agree that it’s better to add a semester or a year and get the more desirable degree, I really am going to be out of money at the end of year 4 (unless she gets better/more aid than we anticipate).</p>

<p>We never put a 4-year limit on our kids. Our older son chose a major that takes 5 years. We knew that going in and that was fine. Our younger son should finish in 4 years, but if he doesn’t, that’s just the way things go - as long as he is progressing steadily toward completion of the degree.</p>

<p>I have friends whose children have had to withdraw from college for medical and emotional issues, and that has certainly delayed their graduation dates. These situations are much more common than people realize.</p>

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<p>My sarcasm is lost on those who are so nonsensical as to tell their child not to chase a dream because “there are enough out of work lawyers”. You know, there are enough out of work engineers too but you never see someone tell a kid not to become an engineer if it’s what they want.</p>

<p>My dad basically agreed to pay what it took to get my degree, and then ended up paying for my MS as between scholarships and finaid, I paid essentially no tuition my junior and senior year. That freed up money to both live in my sorority and pay for grad school.</p>

<p>That being said, he also understood if I would’ve had to take an extra semester, as classes often filled up before you could register for them, and some had to be taken in a specific order. I needed 1 more lab to graduate my last semester senior year, and had to take a botany lecture/lab to fulfill the requirement because it was all that was open…and I was registering as a second semester senior!</p>

<p>Personally, I don’t think I could ever tell my future children that I wouldn’t help them out if they had to move to another city for internships, or something of that nature. Internships don’t pay well (if at all), yet are a vital resume builder, and sometimes can’t be found in your hometown.</p>

<p>I wanted to be a model too, but I was 5 inches too short. So what’s your point?</p>

<p>You are also doing a disservice to your kid if you just tell him to follow his dream.</p>

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<p>While there may not be a ton many of them, there are quite a few engineering majors who had to stay 5 years…mainly because they had to start with Pre-Calculus instead of Calculus. Since, they ended up with a degree and employment (in engineering), I would say that they were academically prepared.</p>

<p>I also think it is short-sighted to hold a student to four years, if they need the extra time to get a more marketable degree, complete a more rigorous major, or prepare for grad school.</p>

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<p>You do in the engineering forum here. In general, if someone comes in and says that they want to go into engineering because of the job opportunities or money, they basically get told to do it because they love it - otherwise it’s tough to stick it out for just money.</p>

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<p>I totally agree.</p>

<p>Technically, I used more than the tradiitonal 8 semesters for my undergraduate degree (Math/CS) by using a couple of summers. I wanted to have more social time during the Fall and Spring semesters so I said the HECK with taking 2+ CS courses along with 2+ math courses along with some other demanding science course like computational physics and barely having time to peek at a girl or attend one party.</p>

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<p>Poor you. You gave up rather than go after something difficult.</p>

<p>The entire point is that a good parent doesn’t tell their child to forget their dreams. And I will call you a bad parent because, frankly, you are if you are so heartless as to tell her daughter to forget law school if she doesn’t get into Yale, Stanford, Harvard, Columbia, UChicago, or NYU Law.</p>

<p>Hey Oldfort, SerentityJade is a cheeky high schooler, not a parent, which explains a lot!</p>

<p>SerenityJade–well call me heartless too because we told our kids that we would not pay for ANY school if they wanted to be lawyers :D. </p>

<p>Also, I wanted to be able to sing like Julie Andrews…but, I can’t–hard work wouldn’t change that nor would hard work on Oldfort’s part change that the powers that be want models to be 5" taller…</p>

<p>^^^I’m with you on that one, I wouldn’t pay for ANY law school!</p>

<p>My kids are smart enough to see the handwriting on the wall… D1 considered law school, but she can see what the unemployment rates for lawyers are currently as well as anyone else can. She isn’t going to waste her time and money on it. SerenityJade, if I recall correctly, you are on track to attend a regional college that isn’t going to be much of a feeder for top law school programs. You better take a careful look at the employment rates of whatever law school(s) you are eventually admitted to. Dreaming without checking the numbers and facts about the likelihood of success is like playing the lottery. But it is a darned expensive ticket, as many recent law school grads from lower ranked schools have found out to their dismay.</p>

<p>Oh, so how many parents here are willing to tell their children to forget their dreams? That just adds to the sense of ignorance here.</p>

<p>If you payed attention, you’d realize that oldfort said she would tell her daughter to FORGET about law school if the degree wasn’t from Yale, Stanford, Harvard, Columbia, UChicago, or NYU. I quote: “If she were to get into a top 5 or 6 law school, I would help her with the tuition, otherwise I would tell her not to bother.” I don’t care if you’d pay for it. But to tell your child “Don’t bother getting a law degree. You’re not good enough,” is not in any way a marker of a good parent.</p>

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<p>If I wanted to go to law school, I’d go to W&M. I don’t want to. But insulting my choice of a university does nothing but make you look like you know I have a point and don’t want to admit it. People should try to make their dream come true. Yes, they should look into the reality. Yes, they should know the numbers. Yes, they should have 3 backups. But it is a parent’s job to encourage their child, not to tell them they aren’t good enough. Which is what oldfort is saying she would do.</p>

<p>Thumper, my parents had the same rule. College was on them, but grad school was on us. They paid for my expensive private bachelor’s degree, but I had to max out my Visa to pay for grad school. It was worth it, although I did get mighty sick of eating lentils and rice!</p>

<p>FYI - my girls actually think I am a great mom. My older D is working at her dream job. She did all the work, but I helped to make her dream come true. For SerenityJade’s benefit, because of her waitlist thread, this is the daughter who was deferred/rejected from all her top schools, waitlisted at 2 runner ups, and I was the one who pushed her and those 2 schools to get her off the WL. She did end up at one of her WL schools, and had the best four years of her life. I am the kind of parent who has stood by my kids through thick and thin. I am not obligated to pay for my kid’s professional school, but I am going to, at the same time I don’t want my kid to waste 3 years of her life and 250K later.</p>

<p>I think SerenityJade is having a bit of a tuck a war with her parents about her college plan. The good thing is not every parent/child relationship is like that. I don’t often draw a line in the sand with my kids, but when I do they pay attention.</p>

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<p>Even graduating from a T-14 or even T-6 law schools isn’t a guarantee…especially if you’re not in the top 50% or 1/3 of your law class. I know plenty of T-14 and even a few Harvard and Columbia law grads who struggled with unemployment after being “no-offered” at the last minute or worse…not receiving an offer because the lawyer market has collapsed after 2008. </p>

<p>Unemployment is bad enough without debt. It’s a horrid nightmare if one faces that with $200K of law school combined with undergrad debt. </p>

<p>One friend who was lucky to find a lawyer job after graduating in 2008 from his second-tier private law school is only making $30k/year and has around a half-million dollars of combined 2-years of undergrad at NYU CAS and law school debt due to compounding interest. </p>

<p>Most of his classmates were facing similar debt issues while facing un/underemployment.</p>

<p>And that’s not even getting into the possibility that many who attended and/or even loved what can be a cutthroat academic experience find that they hate the realities of practicing law once they graduate…</p>