<p>I applaud the last two posters and frankly every parent trying to address the costs of college and help their children get a decent education in today’s environment. That being said, I am starting to believe that the whole college for virtually everyone is a racket. The Emperor has no clothes.</p>
<p>Adding insult to injury, colleges with rare exceptions appear to do very little to rein in costs. Just look at all the ridiculous brochures and pamphlets that crowd your mailbox stating right after the PSAT. What happened to paperless /virtual reality, let’s be green and save the planet thinking ? What is the value returned by a college degree? For some, it is much but for the vast majority it is simply the equivalent of a high school degree thirty years ago.</p>
<p>Also, there is very little being done by high school guidance departments and the colleges themselves to educate students and their families about the harsh realities attendant with financing a college education. You can see the trend on many threads on this site. Junior Year to December -Senior Year, there are the “chance me” posts; December-March Senior Year, the excitement of the accepted post your stats threads; then like now the grim reality that for many their dream college is a pipe dream because of the spiralling costs and debt load, the ivy-towered academics want everyone else to assume.</p>
<p>So applause to all the parents and kids making sacrifices. Maybe the admissions officers can order fewer crudites at the next admitted students reception/junket being held at a town near you.</p>
<p>No one is entitled to anything but it doesn’t seem right that many of the best and the brightest of this generation will either be in insurrmountable debt or ot attend the colleges they</p>
Not true. Everyone is entitled to the best health care in US now :)</p>
<p>Other than the ultra rich, and the real poor, most of the family would have to drastically change their life style to manage a private education. </p>
<p>Just want to emphasize that I would rather be the rich family that could FP than the situation we are in - excellent NB FA.</p>
<p>BTW, Could a school claim to offer a full tuition award when (grant + loans + WS = full tuition)? Shouldn’t a full tuition award be just grant award without (loans + WS)?</p>
<p>Not exactly sure what you’re asking DII, but full tuition would not cover room and board and additional fees so that may be where loans, WS, etc. come into play especially when someone has a very low EFC.</p>
This is absolutely untrue, DadII . If people start saving early, even a little bit, and live within their means from the get go, it is totally and absolutely doable, without any “drastic” change in lifestyle. If, however, a person lives a lifestyle they cannot afford and starts to accrue debt, then yes, absolutely they have to change that behavior. </p>
<p>Certainly it is easier to save and live within ones means in two-income families, but many middle class single income families do just fine as well. What fries my cookies is when people live outside their means, spend more than they can afford, do not budget or save reasonably for their kids education or their own retirement, and then expect someone else to foot their bill. </p>
<p>College should be like life-- buy what you can afford. Don’t buy a Rolls Royce when you can only afford a Kia.</p>
<p>Say the tuition + fee = $37,500. This does not include Room and board.
The FA package is $30,000 grant + $5100 loan + $2400 WS. Could the school call it a full tuition award? I was under the impression that a full tuition award should be $37,500 grant w/o any loan or W/S.</p>
<p>Jym626. What I said was specifically for private college only at near $60,000 a year. The first 20 years of any new family are typically with lower incomes. Unless you are ultra rich, how many families could have saved $240,000 cash?</p>
<p>I know there are many wonderful public state schools. However, that was not my intended discussion.</p>
<p>If tuition is say 30k and “fees” are $7500 (mandatory student fees, etc) then absolutely this is a full tuition grant. Tuition scholarships cover only tuition-- not the other junk fees, which can add up. And a 30K grants is a very, VERY sweet deal. Others can answer better than I WRT work study, but if it is not $ coming out of your pocket then I believe it is considered a grant, even if it requires work. What a concept. W-O-R-K. Work study jobs are often highly desirable. My s’s roommate got most of his HW done while manning a desk for his work study job.</p>
<p>Did your s apply for any outside scholarships? Those can add up nicely. My s had about $7k in outside scholarships by applying for them. Yes, it took WORK, but it did help cut those costs that can make a difference. If one truly needs scholarship money to help defray the cost of attendance, then IMO it is incumbant on the student to look everywhere possible, leave no stone unturned, and work as hard as possible applying for those outside scholarships and whatever else is necessary to cover their need. The big mistake many students and parents make is expecting the school to pony up all the $$, with little or no effort onthe students part to find other sources of income, especially those that might cut down the loan part of their “need”.</p>
<p>Sewhappy,
Agreed. No fair and no fun when big checks are required. Did you use a 529 plan to help manage some of your college savings? We have found that to be helpful.</p>
<p>DadII-
From reading one of your other threads, it sounds like your company’s 401K savings plans have been quite successful, and additionally that you anticipate being entirely debt free when you retire (no car, house or student loans to pay). You are a lucky man.</p>
<p>I liked the way Nightchef put it way back in post #20. Thanks, N.</p>
<p>Now I’ll extend the whine. Here’s some stinky cheese: Next year, when your DS or DD is in school, and you’ve saved all your life for this or taken out huge loans to cover the “gap”…and the school serves up mostly wonderful professors but then that one or two who just don’t know how to teach at all. It’s such a pleasure to be paying for that. And, you are not allowed to say anything or you’d be a helicopter parent. Hah. Even more fun if it may affect your young person’s merit aid! Good times! A whole new twist on College as Smorgasboard =).</p>
<p>jym626, may be we should start a different thread. My understanding for basic requirement to retire is being debt free? Are you saying some folks actually retire when they still have loans to pay? Retired folks have no income, how do they pay those loans?</p>
<p>In any case, the retirement for me is about 20 years away. It is just a dream right now.</p>
<p>Retired folks access their 401Ks, Roth and other IRAs, Keoghs, SEP (if self employed) and deferred income, as well as other retirement $$ (annuities, pension, Soc Sec, etc), Many retirees live <em>very</em> financially successful and comfortable lives. They have a lot of disposable income, which in part is why the AARP is so powerful and retirement communities do so well. How old will you be when you retire?</p>
<p>What do you mean, no income? We will have investment income (401k, Roth IRA and taxable investments), social security and pension. And yes, we will have a mortgage, too.</p>
<p>Yes, you are indeed allowed to whine about being full pay. Just because FAFSA or the school think that you should be able to afford college doesn’t mean that it is easy or painless to do so.</p>
<p>Should we have an income cutoff for whining privileges? I think if the COA is <15% of your AGI you need a special dispensation from the OP before whining. :D</p>
<p>Many of us have reached the ability or “privilege” to have no financial aid because we have made many sacrifices and busted our butts working in stressful jobs for many many years.</p>
<p>I know some will say they work hard and get paid very little. WEll, some of us have always worked hard, and finally have jobs that pay well… it wasn’t always like this. :mad:</p>
<p>How ironic it would be if we got rewarded with lots of money to pay for tuition if we just quit our jobs. :o</p>
<p>Something is wrong with that picture…:rolleyes: </p>
<p>I’m more than willing to give kudos to those like rocket6 with good news, but would like to keep the thread in general back to us “whiners”. (and feel free to start new threads with other discussions)</p>
<p>Hopefully, most of us WILL have the one package NOT to whine about!</p>
<p>And sadly, glido, you are probably right- social security will probably be bankrupt by the time we are entitled to get back what we put in. Another example of us paying for someone elses ride? </p>
<p>Dont even get me started on the self employed folks who pay themselves a very small salary and then dispurse the money back to themselves as a bonus for the sole purpose of avoiding the tax/soc security implication. I hope the IRS has their number.</p>