<p>^^^ Actually, that particular cloud might have a silver lining for a student. I lost my job in July 2010, six weeks before S1 left for freshman year, and did not find a new one until January 2012. He ended up getting Pell and other assistance he wouldn’t have gotten otherwise. He will graduate with a moderate amount of debt, but this will be partially mitigated by the college fund my parents started for him when he was a preschooler. We borrowed money, using the cash to fill odd holes with a view to conserving it as long as we can and paying a lump sum on the student loans after graduation with what’s left. He also got our state PROMISE scholarship as well as several departmental ones.
I don’t know how things will go for S2. He has grandparent money too, and has an outside chance of getting an athletic scholarship, but his grades are absolute dreck and I question whether he’s college material at all, at least right now. So I guess I would like to add to both parents and students that one size does not fit all. IMHO, parents should try to make things as equal as possible, but kids’ differing skills and abilities come into play, too. If resources are limited, some families may be more willing to sink money into college for a child with proven academic ability, and kids need to know this, too.</p>