<p>Like many MT kids, my D did not end up in the program that she had always envisioned due to financial considerations. But now, halfway through freshman year, she can’t envision being anywhere else. She loves the academics (its a BA), has great friends and a terrific roommate, lots of performing opportunities and has already secured internships for both this summer and next school year. Who knows what the future will bring after graduation, but we know plenty of people who earn a living in “show business” without prestigious BFA. In the end, it comes down to a mixture of talent, timing, tenacity, connections and luck!</p>
<p>Snapdragonfly: Best of luck to your daughter. I believe that talented, hardworking kids can make the best of most situations! A year from now, all this stress will seem like a distant memory.</p>
<p>You guys are so great - the posts and the pms - thanks so much for the encouragement and it means a lot because it’s coming from people who have been in this actual same spot and really do know. The different perspectives I haven’t thought of are so helpful to me, and the less stressed I am, the less stressed SHE is, so she thanks you too.</p>
<p>D is in bed leisurely doing her biology homework and anticipating fettucine alfredo for lunch - she seems to have a bit of appetite back.</p>
<p>"I think you should take the prospect of earnings from future employment totally out of the thinking right now and determine which school to go to based on which environment offers the best opportunity for learning – of all kinds, academic, artistic and social – and personal growth. Yes, your daughter might struggle financially for years (with or without the burden of loans) if she chooses a professional career as an actress; but she might also decide to pursue a different path eventually (or even right after college) and a good education will prepare her to adjust accordingly; or she might choose to combine an acting career alongside another career path.</p>
<p>In today’s world, there are no guarantees of how lucrative or safe ANY profession can be. Would you be willing to take on the loans for the private school if your daughter were not pursuing acting?"</p>
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<p>I have to disagree with parts of this statement. Sure, take future employment out of consideration, and yes, the school should obviously be a right fit for her and be where she would be happy…but even if she were to decide to do something else in the business or go into a different field entirely – she does not want debt.
What if she decides she wants to go to grad school? She wont be able to do that for quite some time because she will have accumulated so much debt from her loan. Why spend a lifetime paying off debt and scraping by? She shouldn’t have to worry about paying something off, she should be focusing on building her savings so she can go after any opportunity that comes her way.</p>
<p>Well…for us, the answer to “Would you be willing to take on the loans for the private school if your daughter were not pursuing acting?” is also - not unless there is just absolutely no other way.</p>
<p>For some people that might not be it, but for us - the more I think the more I think we need to really, if we have a choice, avoid it. </p>
<p>At least for starters. College costs go up every year. If we start out absolutely squeezed to death and still with a gap - what will we do in 3 and 4 years? When you have already invested and they have you hostage, basically? Quitting without the degree makes it REALLY hard to pay the debt you already have!</p>
<p>We might look at it in the view of letting a very minimum amount of debt happen the last year or for grad school IF there is no other way…</p>
<p>for now our goal is to try, no matter how much they roll their eyes at us in financial aid, to avoid it, I think. If we have a choice. I realize some people really might not think they do.</p>
<p>I have to agree with MTKidd- We would not be willing to take out loans no matter what degree our children were pursuing. We know too many kids in many fields who are having a hard time finding jobs. Our oldest 2 got thru non-MT programs (engineering and education) with no loans and and our third who is in MT is doing the same. One of our older ones was able to pursue a master’s at a prestigious university because she was working full time and had no other loans to pay off. She will make it thru that program without loans. We have one left and he is aware of our limitations and of how important it is for him to do well in HS in order to be eligible for scholarships. I can’t imagine entering today’s work force with a huge loan to pay off. It is really a personal decision; some families may be more comfortable with loans than others and whatever works is great! Just make sure that if your child will be the on responsible for paying the loan, he or she truly understands the implications. In our case, it is not the that our daughter is pursuing MT- we would take the same stance no matter what.</p>
<p>I am among the most fiscally conservative people we know. We have a similar attitude toward college debt, though we do expect D to pay for a portion of her tuition either through Stafford Loans and/or summer work, as we believe it is most important for our kids to have some “skin in the game”.</p>
<p>Surprisingly, we’ve opted for the most expensive alternative available to our D, who was offered full-ride scholarships at several schools and had large merit offers at many others. In the end, she opted for a BA over a BFA. Part of the reason we’re willing to pay the extra money is her commitment to double major (which her chosen school facilitates), which may save her from needing to spend an extra 4 years if she later decides (as DH and I both did) that a theatre degree was not enough. Plus she’ll be in an academically rigorous environment that she feels will challenge, stimulate and inspire her. </p>
<p>DH and SIL both started at inexpensive schools and later transferred to very prestigious schools, plus we have a friend who has been a college counselor for 30+ years, and all swear it will be the best money we’ve ever spent.</p>
<p>We hope to make it work without taking parent loans through family austerity measures – plus we’re maxing out our EFC so in two years when our S starts college overall tuition expenses shouldn’t increase. We don’t plan to jeopardize our retirement funds, as that’s not fair to our kids.</p>
<p>Ask me in 4 years if this was a good decision. ;-D</p>
<p>Sorry about the pms - I keep deleting but it fills up. (some of the messages are useful to reread, I guess I’ll copy them somewhere and delete them here!)</p>
<p>We were gone all morning at doctor and getting rx filled so I wasn’t here to catch the pm box! please resend!</p>