<p>But this seems so hard to figure out in advance. We can <em>say</em> we think we can contribute 5K but circumstances can arise to alter that. We got hit this year with some unexpected medical and home costs that took away everything and left us a bit in debt. Each year is different. Also, my son is a highly motivated worker and he can earn a lot of money during the summer if he needs to, so I don’t want to rule out certain schools. The schools that seemed impossible (like CMU, which has poor f. aid) are off the list. The schools that are close-though they might be out of reach in the end-stay on the list.</p>
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<p>Of course, but that applies to everything in life. I can take out a mortgage or buy a car on the assumption that the income will be there to make the payments, and things can change. There are no guarantees in much of anything.</p>
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<p>What the parents in this situation can do is set expectations appropriately in ensuring that the student knows that financial situation can change. I.e. “we estimate that we can afford to contribute $____ per year, but things can change, so the amount may be less.”</p>
<p>Finances should really be part of “reach, match, safety” categorization. For example, if three schools X, Y, and Z are admissions safeties, but X is guaranteed to cost well under the estimated ability to pay (even under some unexpected adverse financial events), Y has good, but not certain, chance of giving enough financial aid, and Z has a low, but possible, chance of sufficient financial aid, then they should be classified as X= safety, Y = match, and Z = reach, rather than as three safeties. (A school that has no chance of being affordable should be removed from the application list, since it is not worth the bother.)</p>
<p>JHS, I’m every bit as impressed with your ability to italicize as I am with your Latin. I always use all caps to accentuate, which apparently makes it seem like I’m shouting.</p>
<p>Yes! It’s a bit jarring to read the parents’ forum, where everybody seems to be “shouting” constantly. Many of the parents here probably weren’t heavy computer users earlier in their lives, when other folks would have taken them aside and explained the etiquette.</p>