The Middle Class Get Screwed...again

Parents Forum
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<p>It is obvious that Elite University, where my d was accepted but received no aid, only wants the children of the rich, or of the poor, to attend their school (or the children of those parents who lied on their FAFSA).
Honest, hard-working, middle class folks who try to save some of their money and don't blow it on a new car every two years and a house twice as large as they need and on running up credit card debt, get screwed in the financial aid process.</p>

<p>We've been saving for 20 years and not over-spending, unlike most of the families around us, and now we're being asked to dump all our money into the coffers of an "elite" private school and borrow all the other money we'll need to pay exhorbitant tuition.</p>

<p>No wonder this country is so scewed up. Another generation of spendthrifts will be rewarded for their bad habits by free school and access to power, where they can turn around and perpetuate the process all over again. They'll fill out forms to have the Government bail out their bad home loans at the same time they fill out forms accepting "need" based aid from elite schools. Unless their parents are rich and can simply write a check for the tuition, in between their country club dues and imported-cheese-of-the-month payment.</p>

<p>Sigh...I shouldn't have listened to my parents and grandparents. I should have sipped champagne on my beer budget...and just gotten someone else to pick up the tab. </p>

<p>The word "bitter" has been worked over in the press lately, but it is a very appropriate word to describe the way I feel. </p>

<p>Maybe we'll just have our D take a year off, but not to work and to save more money and learn about the tough knocks of life. Instead, we're going to spend all our savings (and go into debt by borrowing) and take a trip around the world going first class the whole way, blow all our money, and then when we apply to those "elite" schools again, our D will receive some financial aid.</p>

<p>Or...maybe I WILL listen to my parents and grandparents and send my kids to the state universities my tax dollars support (taxes...now that's another thing the rich and poor don't have to worry about, but that's a whole 'nother thread on a whole different web site) which are still expensive but at least not ridiculous. </p>

<p>I urge all you other bitter, ****ed off middle class parents out there to rage against the machine, rise up against the system, and send your kids to State U and to hell with sending your kids to "elite" private schools. If enough top quality kids from the middle class go to State U, then State U will be an even better place to educate the future leaders of America. And maybe some of those future leaders will grow up and fix this problem some day.</p>

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<p>You are no doubt very proud of your daughter for being admitted to the elite private school. Keep in mind that there are lots of brilliant kids just like her who end up attending state schools for the same reasons that you state above. And they go on to have very successful careers in spite of not having the bucks to attend an elite private school.</p>

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<p>There are hundreds of thousands of students who can't afford the state schools, and end up at community colleges, often at night.</p>

<p>Give thanks.</p>

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<p>mini-</p>

<p>amen. my mom was one.</p>

<p>df</p>

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<p>It is the person's ability and drive that matter the most for success in life. The school is only an outside factor that could help to some degree. That being said, I echo other posters said, Both Clemson Honor and Emory are wonderful options. </p>

<p>This economy is a comsumer driven one. If I remember right, the comsumer spending accounts for about 70% of the US economy. So, some spendings should be encouraged.</p>

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<p>wow - it sounds like you thought you would get some cash for the elite school and maybe didn't even strongly consider your state U. Otherwise, why would you be considering blowing all your savings and going into debt now?
It's hard to know what to do the first time around, but we laid it out for our son before he even applied. Yeah, you can go for the elite schools but you might not get money and then we'll have to consider cheaper options or have YOU contribute.
At first, he wasn't thrilled at all to apply to our state school. Last on his list. But he visited, liked it, and got accepted into the honors program with money. He's there now and he's doing great. Some of his peers wouldn't even give it a look - or put it on the list as a deep safety with no intention of going there unless EVERYTHING else fell through.<br>
So, no don't send your kids to a State U cause your bitter and fed up. Put it out as a reasonable and safe (in most cases) option from the beginning. Our state school is a quality tier 1 school, so I wouldn't tolerate my kid thumbing his nose at it A dose of realism from the very beginning can be helpful. Hope for the best... but always have a solid PLAN B.</p>

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<p>I wish there were more scholarships that did not depend on need. It would be nice if deserving students from families who are stuck in the middle also had opportunities to attend elite schools, without graduating deeply in debt.</p>

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<p>Hey, anyone in this country can choose to be poor. If you think they have it so good, go for it.</p>

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<p>Agree with Garland. Being poor works for college financial aid purposes, but it sucks for the rest of the time!</p>

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<p>I'm with Garland here. I'm not sure what your rationale is, Docvat, since once you divest yourself of all of your assets and strip your income to the level where your child can qualify for aid, you will then be at the mercy of the financial aid office for whatever they decide to give. You also won't have the flexibility that your "wealth " gives you. But give it a whirl, and let us know how it works. It could be an interesting book.</p>

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<p>
[quote]
where my d was accepted but received no aid

[/quote]
</p>

<p>At least she got in. Be thankful that you aren't white too! ;)</p>

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<p>OP,</p>

<p>Your frustration is understandable. I've always thought FA was "bass-ackward" as they say, by having the goal be all grants and no loans. </p>

<p>It seems more fair to me (ridiculous to expect fairness, I know) that all FA should be loans and not grants. That way, those who did not earn/save their college tuition will pay the same as those who did, just in reverse order.</p>

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<p>Doktorvater, thank you for expressing what so many of us middle-class parents feel. By middle-class, I don't mean people making $200K a year. Yes, we just keep getting screwed on everything. When I see posters on this board talk about the new financial aid policies at HYP and ask if they will get any aid when they make $250K a year, it just makes me sick. With a $50K a year income and no assets (not even any retirement), we are asked to shell out over $10K a year for college. There is no equality in the system at all and I don't think there will ever be.</p>

1 Like
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<p>Doktorvator, since you are a college professor aren't you entitled to discount opportunities for your child's education? </p>

<p>Also, your D was offered a great deal, so why take a year off? This sounds amazing:

[quote]

No. We didn't. Our D turned down entrance to an elite school, because they offered zero aid. We would have to wipe out our savings, borrow a ton of money and basically forget about our two younger kids to pay for Elite University's tuition. The Honors College at our State U looks to be a fabulous opportunity, and they want my daughter there so badly, she's getting great housing, and beaucoup bucks in scholarships.

[/quote]
</p>

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<p>Attitude is everything.
It may surprise all you "middle class folks" who think that attending an "elite" college is a "right" - there are plenty of really bright kids at State Universities.<br>
Being poor doesn't always work for financial aid. The even with financial aid there are plenty of kids who can't afford the "state U".
Parents - please lay out all the options for your kids. Give them some "affordable" colleges from which to choose. MAKE them put a couple of those on their lists.
Remember - your elitist attitude will trickle down to your children.</p>

<p>OP - if you don't qualify for any financial aid then it sounds like you can/should be able to afford to send your d to a State U. Be thankful for that.<br>
There is no law that you have to help her become college educated. Wash your hands of it. Make her work for a couple of years, go to the CC and wait until she is 24 and is "independent". Better yet - have her join the military - there are all kinds of college incentive dollars there. Life is about choices. Seriously, get a grip.</p>

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<p>
[quote]
Doktorvator, since you are a college professor aren't you entitled to discount opportunities for your child's education?

[/quote]

Are you serious - this guy is a college professor???<br>
I have even less sympathy now.</p>

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<p>"Agree with Garland. Being poor works for college financial aid purposes, but it sucks for the rest of the time!"</p>

<p>Doesn't work so good. The percentage of students attending prestige private colleges on Pell Grants has been declining steadily for 15 years.</p>

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<p>Yes, I am serious, because the OP wrote this:</p>

<p>
[quote]
I have done quite a bit of counseling college students (I'm a prof) so let me take a crack. I'm a Chicago native who is on faculty at a SE college now, but I have lived all over the country.

[/quote]
</p>

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<p>


Care to flesh out this FA plan , Bay? I'm intrigued by the motivation for the plan and how exactly it would work for a...hmmmm... let's say a working mom with no support from daddio with three high achieving HYP kids? Does each kid finish UG with $250,000 of debt around his neck , or would you load ol' mom up with the full $750,000 plus ( or with accrued interest would that be a cool million?) ? I'm sure you'd want it non-dischargeable , right? I mean, fair is fair.</p>

<p>Edit: Let's make her 52. How many years are you going to give her to amortize that debt? 10? 20? 100?</p>

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<p>I was also worried about this problem since I fall in the middle class area with about 110K in income.</p>

<p>Twin sons were high scoring so we rolled the dice on scholarships. I did not save for college much for them but did set up all my payments and purchases. like cars, loans etc, so that I would be debt free when they graduated college. I planned on being able to pay the EFC out of pocket and hope no saving lowered the EFC.</p>

<p>I am paying that EFC of 24K a year out of pocket with no loans and groaning but it seems to have worked out. Probably pure dumb luck.</p>