<p>Why can you not take loans to cover the unmet need?</p>
<p>I think going to the college of your dreams is well worth going into thousands of dollars in debt. Even hundreds of thousands in some cases.</p>
<p>Come on back 20 years from now when you're still paying off those thousands of dollars of debt and let us know if you're still glad you spent 4 years at your "dream school" and are still remembering (maybe not so fondly) years and years later when the bill arrives each month.</p>
<p>I think most think it's just a good idea to find a happy medium between great school and debt. I think it's safe to say, that most could be happy at many schools, not just one.</p>
<p>There is a teacher at my high school who went to Harvard about 10-15 years ago who constantly complains about paying off student loans. And it's not as if she gets paid more for going to Harvard...</p>
<p>I actually qualified for Duke's need-based full ride so sorry abasket I'll be coming back 20 years from now telling you how awesome it is to have gone to Duke - not complaining about loans.</p>
<p>Well, I guess if you're going to grad school it's worth it to go to a cheaper school.</p>
<p>So then, why did you ask the question?</p>
<p>While you may be very fortunate to NOT have to face loans, surely you can see the detriments of huge loan amounts. </p>
<p>It would probably be in your best interest, to adopt a different attitude because surely your peers at Duke will not all be in such a priviledged situation as you will be financially.</p>
<p>Well if I was in the same situation as you I wouldn't have to ask. I wanted to see from your point of view, which is why I asked. </p>
<p>I asked a simple question, you're the one who responded condescendingly. Telling me to come back 20 years from now assuming I'd be in debt? You assumed my life is going to be wasted paying off debts: I simply was trying to correct your idiotic assumptions.</p>
<p>random - this is a pretty spiteful thread for you to start if you have a full ride. Did you just want to rub peoples noses in it when they are struggling about making the choice to take out massive loans or choose something other than their dream school?</p>
<p>Yes, that was my exact intent.</p>
<p>-_-</p>
<p>Wow, nothing is more annoying than moms who make their kids who got into great schools go to crappy schools with scholarships. I wanted to see what people literally meant by "I cannot afford X school" - I wasn't sure if it was possible for students to take out loans for themselves if they had parents who were unwilling to chip in. What does my financial aid status have anything to do with the content of this thread? If abasket hadn't responded condescendingly, my financial aid status would never had been revealed.</p>
<p>I can understand why moms would be mad though - people telling their kids it's the right thing to do to go to an expensive school would mean less money for manicures and less money for a good retirement.</p>
<p>you might want to be careful how you phrase things in a thread like this - I am one of those people (student) facing the decision between dream school with $100k+ in projected debt and unappealing in-state school. this is just my experience, but i'll do my best to answer your question. because my parents are middle-class (this is a controversial term, so please don't jump all over me - AGI of ~89k for reference). my EFC (how much colleges want my parents to pay) is about 1/4 of their income (and yes, i know they aren't expected to pay all of it out of their current income) according to FAFSA, which is a minimum estimate. the finaid estimate I recieved when accepted EA to a school that 'meets full need' left 37k unmet - at least half of my parents' post-tax income. we do not have a big expensive house, we all drive used cars, no expensive vacations, investments, etc., and not a lot of savings. </p>
<p>i'm by no means trying to say i've got it awful - I know there are many in much worse situations and i'm thankful to have grown up the way i did. however, even though my parents are willing to contribute to my education, the money simply isnt there for them to do so. the finaid package already included 3500 a year in loans - the careers i plan to do into won't pay well, and i plan to go to grad school. taking on over 100k in loans is thus not only irresponsible, but unfeasible, so i can't afford to go to my dream school.</p>
<p>i think it's great that colleges have started giving so much need based to low-income students - i have friends who will be able to go to some of the best schools in the country only because of full rides like you have. it's just tough to watch because (yes, i'm a little jealous) the loans i would have to take out are just ridiculous. again, this is just my experience, but i know others in the same boat. please don't assume that those who can't afford it are spending their money on manicures, etc - i don't think my mom's ever had one my entire life. the way the system's set up just makes things turn out this way for people of varying levels of income.</p>
<p>anyone else want to share?</p>
<p>^^^ You will go far, you are smart. </p>
<p>We were at an information night for an Ivy in the fall, an alumnus was at the back at the info table. I was talking to her she said her kids are in their state schools, she said she would not put that burden of debt on herself nor on her children.</p>
<p>UNEPgirl that was a very helpful response. I agree with the above poster.</p>
<p>Thank you, UNEPgirl.</p>
<p>Are you the same person as AnotherAngryTeen who started a similar thread yesterday about wanting to go into massive debt....that one had issues with "housewives", but you've got a lot of anti-mother anger...</p>
<p>
[quote]
actually qualified for Duke's need-based full ride so sorry abasket I'll be coming back 20 years from now telling you how awesome it is to have gone to Duke - not complaining about loans.
[/quote]
</p>
<p>randombetch,</p>
<p>abasket was not condescending toward you she just stated the obvious; you gave a response that was based on a person who does not know what it is to pay off long term debt (whether it is a mortage, student loans, etc) and the effect it can have on the financial decisions you make on the rest of your life.</p>
<p>You do not sound the least bit gracious about the fact that you have been accepted to a amazing school that has also been a really financially feasible option for your family. This means that you wil have choices later to do other things. It is really my hope that this is not you persona IRL.</p>
<p>For many families, debt is a very real thing. With subprime mortages that are causing people to lose their homes, the fact that student loans are forever and dispite what everyone doesn't want to say, we are in a recession, each family does what they beleive is best for their family. While you are fortunate enough to have a EFC/family income low enough that it affords you to graduate with no debt, this is not the case for many middle class families. </p>
<p>Many parents are part of a sandwich generation where they are taking care of elderly parents at the same time tha they are putting children through college and planning for their retirement (I have friends who have put in years at Bear Stearns who know don't know whether or not they will continue to have jobs in the near future. Should they take on massive debt to send their kids to college?)</p>
<p>So before you so flippantly say, why don't you just take out loans, tell me exactly how may checks are you going to write to pay off the loans that these families take out because you feel that they should just take on debt. </p>
<p>You will find that in this life, a little grace an humility will take you a long way. You will also find that what you put out will come back to you. It would be very hurtful that the same smug attitude that you put out comes back at you; while you are attending Duke on your full ride, you will meet students whose families are full freight payers and their kids will roll up in a brand new benz, bmw, lexus, etc. flossing, credit cards, trust funds, going places an leaving you behind (yeah cause Duke is a place where you will see and feel the difference between the haves and the have nots). What, you can't afford to join the Frat? Just borrow the money. Can't get basketball ticket? Just borrow the money. Can't go on spring break? Just borrow the money.</p>
<p>Take a moment to put yourself in someone else's place and have some compassion/ empathy for others.</p>
<p>
[quote]
and less money for a good retirement.
[/quote]
Right - parents shouldn't bother to save the money they've spent their whole life earning (remember, it's their money, not their kids), because they can count on their children (many with attitudes like yours) to support them in their elder years.</p>
<p>Don't worry we will all be working for her in 4 years as she runs her Fortune 500 company. Clearly, she has NO concept of the real world. Lose the chip!</p>
<p>I think a lot depends on whether you go to grad school or not.</p>
<p>Excellent post sybbie and UNEPgirl. Random....you need a sharp dose of reality. Most persons will not graduate and immediate earn an income to pay of hundreds of thousands of dollars of debt. And unless that attitude is curbed, you may not make too many friends at Duke with your "full ride" while they and their parents are busting their butts and going into debt for the same degree. Gratitude and humility are good life lessons. </p>
<p>It is wonderful so many top tier schools are offering full packages for lower income students. Once there, and as much as I hate to admit it, things are different when you don't have the disposable cash as class mates. Exotic vacations or going home to work over winter break? New clothes for formals or what do I have that mom can send me? </p>
<p>We are struggling financially and with my husband gravely ill. When D1 began applying for schools last year, it was always with the stipulation financial aid would be the decisive factor in her choice. I provide what I can but have greatly discouraged her with accumulating debt. Graduate school is a must in her field. I would love to see her with a mortgage in a few years; not riddled with student loans.</p>
<p>for all of those thinking "take on the debt, because you will easil pay it off once your 6 figure IB job kicks in" ...</p>
<p>Alums at Bear Stearns fear firing</p>
<p>
[quote]
As JPMorgan Chase managers filed into the lobby of Bear Stearns headquarters following the latter bank’s near collapse earlier this month, Dartmouth alumni working on the floors above began to question whether their jobs were in jeopardy. They were not alone, as several Dartmouth seniors have accepted job offers from the firm and at least 10 percent of Dartmouth graduates pursue careers in the financial industry, according to the College’s Office of Career Services.</p>
<p>Over half of Bear Stearns’ 14,000 employees may lose their jobs following JPMorgan’s takeover, which was facilitated by a $30 billion pledge from the Federal Reserve, CNBC reported. More senior employees have seen their stock options, saved for retirement, tank, with shares of the company falling from a 2007 high of $170 to $10, as part of the deal engineered with JPMorgan.</p>
<p>Students contacted by The Dartmouth who were offered positions at Bear Stearns declined to comment, citing the delicate nature of the situation.</p>
<p>**The bank has advised hired students to send their resum</p>
<p>sybbie: as someone who also has old friends at Bear Stearns ( and no, not at the top rung), I too was wondering how many of their employees have seniors in high school, how many of them were accepted ED at top schools (Bear has/had soooo many Ivy connections, and finally how many will have to re-assess their futures (all of them).......Nothing like having the proverbial "rug pulled out from you" at the 23rd hour........</p>
<p>as far as OP's attitude is concerned, you are showing your age and lack of maturity.....with that attitude, hopefully your parents DID save for their retirement before they saved for your education.....</p>