<p>OK, CC Parents, I just read this from a dear, worried student over on the financial aid forum:</p>
<p>"This is utterly ridiculous, especially when I see greedy idiots driving Mercedes Benz and BMW's with Coach purses, while at the same time receiving even more financial aid than my family which I don't get to see because they work so much to feed us. "</p>
<p>I see this a lot on the fin aid forum. Kids will compare their own fin aid package to someone else's and be very, very bitter. </p>
<p>It is important for students to know that there are 100 questions on the FAFSA and almost everyone makes an adjustment on the final EFC generated. So the family down the street that makes $50K more may end up with a lower EFC for any number of reasons (more kids, more kids in college, high medical expenses and so on). </p>
<p>CC is a place where there are constant comparisons. That isn't always bad because sometimes it is helpful to know that a 3.4 GPA isn't going to pave one's way to Harvard or that a PSAT score of 205 is strong for MS but not so strong for MA. </p>
<p>Alas, after four years of high school, our students are great at comparisons. Once a kid or parent gets started, it is hard to stop. But it makes me grind my teeth to see posters who are quick to be jealous of someone else's blessings (not stopping to count one's own blessings, to include health and a loving family) -- and it also makes me sad to see such bitter postings from teenagers. </p>
<p>I'm of the opinion that the ONLY package that is important is the one with your name on it. Either it's great -- or it needs improvement. Can we start an "I am Incomparable" campaign?</p>
<p>I have seen those threads too and I could imagine the frustration of these kids who were hoping for a better financial aid package because their dreams have been dashed as a result of finances. The sad reality is that for most 18 year olds financial matters have not ever been discussed or fully discussed and because of this they are left with unrealistic dreams. I would like to see parents and their children have the honest talks about money when kids are old enough to understand what it all means instead of waiting until the senior year of highschool when decisions are coming in and they are left to wonder why their parents who own homes and cars can’t send them to college. </p>
<p>You are right that most kids sound envious of others, but this is because they have parents who sound the same way. Just listen to the threads that show utter shock about a URM admit or an athletic admit or what about the threads that speak about Chinese kids not getting accepted who have perfect scores and GPAs. People do this to themselves. For the most part it is hard for most people to see outside of the boundaries of their own backyard when it comes to disappointment.</p>
<p>Those people driving fancy cars may have received aid packages that rely heavily on loans. Some people don’t realize loans have to be repaid eventually and living “high on the hog” now will come back to bite them later.</p>
<p>I seriously doubt that many kids who receive large need-based aid packages are driving luxury cars. This sounds like an urban legend.</p>
<p>If it does occasionally happen, I’d look for a rational explanation. Maybe it’s somebody else’s car. Or maybe the observer is “profiling” a driver who in fact is a full-pay student.</p>
<p>It’s okay to compare - there is a lot that can be learned from looking at a wide variety of samples. It is smart to learn to keep one’s emmotions in check, to a certain extent. Having said that human emmotions are natural and an important source of strength to seek social change.</p>
<p>Also, especially in today’s economy, a family may be driving a fancy (paid for )car, but the breadwinner may now be unemployed or making much less than in previous years, which may not be apparent. For example, a good friend of ours lives in a nice house…drives a BMW…she has an MSW and her hours were severely reduced the past two years. Her husband made a very good living for several years selling building products for a major manufacturer. He’s obviously not been doing so well the past few years.</p>
<p>They bought their house in the early 1990s so the mortgage payments are relatively small, and the cars are paid for. So to the outside they look like they have a lot. But right now, they really don’t…and in this market, selling the house to free up money isn’t going to happen, and it’s unlikely they are going to find a place to live for less than their relatively small mortgage payment. Refinancing to take cash out isn’t going to happen because the income isn’t there.</p>
<p>And yes, they put some $$$ aside for college over the years, but not enough…and they have had to use some savings for things like repairs to houses and cars, dental bills, etc.</p>
<p>They have a college sophomore, a college freshman and a high school junior and they are in their mid-50s.</p>
<p>So you can’t just look at a family and think you know their finances.</p>