College....How do people afford it??

[Lisa loves Pooh]

It's a wonderful program, but it has created some problems. Students who previously would have been automatic admissions to UF and FSU (high GPA, high SAT/ACT, overall great transcript) are being turned down because of the intense competition. So, many parents are still being faced with sending their children to smaller, less well known state schools, are paying more to send them out of state or to private schools.

It has been a while--but those schools have always been fiercely competitive.

When I went there (graduated 10 years ago)..there were kids who had friends who had gotten rejected despite their applications.

Even if you are wealthy--a spot in school is hardly ever guaranteed.

At the time I went the program was called Florida Academic Scholars. I don't know when they started..hubby graduated in 1991 and had that scholarship then...so this stuff has been around for 15+ years.

 

[KristinBelle]

I thought Florida had free state college tuition for high school grads that maintained a certain GPA. One of my friends son is taking advantage of the program now. It is not based on income, just on GPA. They pay for his dorm and food and possibly books.

If my kids end using BF we can get every penny we paid for the pre paid plan back. They allow you to cancel the plan at any time and for any reason with a full refund, we'll just put it in towards retirement instead. Just trying to cover all the bases.

 

[PaulaSB12]

For these who say that the student should be encouraged to pay for their own college to make sure that they appreciate it and don't think of it as an excuse to party all the time, how do you feel about the states that force a divorced parent to pay for the college education. I found this to be interesting

In a recent legal uprising spreading across America, parents are being ordered by courts to pay their children's tuition bills. This is not because their children have any sort of extenuating circumstances or because the parents had previously agreed to pay. The reason is solely because the parents are divorced.
Seventeen states permit such rulings in which divorced parents are forced to pay their children's college costs. Recently, the New Hampshire House of Representatives became the first to prohibit such rulings, and the case is expected to go before the state Senate next year. �
In a generation where students are frequently the children of divorced parents, the problem of college tuition payments will undoubtedly be questioned. However, the question should be answered during divorce settlements and not when the tuition bills come in.
The major inconsistency with these rulings is that no parents are legally required to pay their child's tuition. Unless all parents are required to pay their child's tuition bills, regardless of their marital status, divorced parents should not be the exception.
As many students can attest, parents are not always the ones paying the bills. Students often bear the burden with student loans or while they attend school. Even many parents who are financially able to pay tuition bills require their children to pay their own bills to build responsibility. A married couple does not necessarily pay its child's tuition bills, as these rulings assume. Because of this, a divorced parent should not be required to pay either.
The rulings are based on what would have happened had the parents remained together, a fact that cannot be proven and should not have anything based upon it.
These rulings that force divorced parents, even those without partial custody, to pay for college tuition are unfair to the parent; the parent may not have a close relationship with his child but still be required to pay thousands of dollars in tuition payments. The divorced parent in question could have little influence in the child's life, including his choice of school, as was the problem of Alexander Duran. According to cnn.com, Duran was ordered to help pay tuition bills for his daughter, who chose Brown University over a less expensive school that had given her a better financial aid offer. Duran claimed that he had no input on her decision, and that his ex-wife swayed their daughter's decision.
Children of divorced parents are statistically less likely to go to college, according to The New York Times. This fact should not grant them special treatment. While this may be true, contributing factors such as the economic status and ethnic backgrounds of divorced families also increase the likelihood of those children going to college.
Students faced with tuition payments have plenty of options, such as military contracts, loans, scholarships, grants or choosing to attend a less expensive school. Having a divorced parent should not be a guaranteed payment, and assuming that it is ignores the reality of the many students who put themselves through school.
Child support ends at 18, and at that age students should be mature enough to take responsibility for their own education.

Some time ago I recal seeing that a 24 year old woman who wanted to go to medical school after college sucessfully took her divorced father to court and forced him to pay her fees and expenses, surely a 24 year old should be standing on her own two feet not running to daddy all the time!

 

[LindsayDunn228]

Savings, savings, savings.

And working your butt off

 

[LindsayDunn228]

That's why it makes sense to start saving on a regular basis when the child arrives, not wait until the child is a senior in high school. I think everyone decides for themselves what constitutes a priority. We take vacations very rarely (much as I'd like to go to Disney every year), for example, because providing an education for our children is a high priority for us.

 

[Mamu]

Loans and a lot of them. It cost DH and I some 200,000 of our savings to put 4 children through schools and that was over some 10 years ago. Most schools have doubled since then.

Start saving now, every little bit helps.

 

[PaulaSB12]

Just to bump this up again do you believe it is right that a child of divorced parents can, in 17 states, legally demand that their parent pay for their college education where parents of intact families can't?

 

[Beth76]

Just to bump this up again do you believe it is right that a child of divorced parents can, in 17 states, legally demand that their parent pay for their college education where parents of intact families can't?

No, that's appauling.

 

[Lisa loves Pooh]

If my kids end using BF we can get every penny we paid for the pre paid plan back. They allow you to cancel the plan at any time and for any reason with a full refund, we'll just put it in towards retirement instead. Just trying to cover all the bases.

ACtually if you go that route, you are "losing money" b/c you only get the money YOU put in if you cancel.

If you keep it intact, you can get a "refund" each semester for what your student gets in scholarhips.

Personally I would rather do that b/c it would be worth a heck of a lot more money than just getting the $8K I put into the program initially for all 4 years.

Just something to ponder.

 

[Alyssa88]

Scholarships and grants help me alot. I got one of each from my school as a merit award.

Financial aid, didn't help me too much, but I know it helps alot of people.

I also take out loans, it sucks, but if you have nothing else you have to do it.

Part time job with full time hours.


I just wanted to say that the fact that I am paying for my own eduation is making me work so hard. I don't know if I would have done so well in high school if i knew my parents had saved for my education and I know that I wouldnt have gotten such great grades in college if I wasnt responsible for the funding. I have noticed that with alot of students, but of course that isn't true with everyone.

If I ever have children I probably would save up, even if i do find it beneficial for them to take on the responsibility. It is very stressful.

 

[LisaL]

I'm struggling through this right now with my youngest sister. I spent my college years embroiled in lawsuits to keep other family members out of her college trust fund. At 18, I was named trustee because our grandmother trusted me (our father had passed away). This sister has the brains to go to a great school. Instead she has spent four years at community college. She has not earned her associate degree (how is that possible?) and has made no plans for finishing her education.

She knows the money is there and she wants to spend it wastefully. Although the terms are clear that the money is for school and nothing else, she still asks, whines, demands, etc. She refuses to take responsibility for her life and her decisions.

What kills me is that I had to forgo college for many years to ensure this would be available. When I went to school, I worked full time, kept my grades up, and made the necessary sacrifices. How many kids would appreciate this opportunity? I love my sister, but I am of the opinion she does not deserve this incredible gift. I agree with the poster who said there is a lot to be gained by earning an education.

Like I said, a sore spot...

If I was a mom, I would try to find some balance whereby my child could go to school and have a great experience, but be responsible for some portion of the cost.

 

[disneylizzy]

DD's college - Worcester MA $45,102/year

PER YEAR! A student has to get financial aid (we do), work very hard over the summer and during breaks (she does), still take out some loans and do Work/Study for expenses during the year.

The harder you work in HS, the more it will pay off when it comes to financial aid and I'm not talking just merit aid. If your child is a top student, a school that wants them will make a good offer.

I can't see a kid taking out 40 - 60,000 worth of loans, though, for undergrad - that's crazy!

 

[MrsPete]

Our oldest dd went to college in our city so she was able to live at home while studying. She received her teaching degree, got a job and moved to her own apt.
Youngest dd will be going to college next fall and is considering an out of town university. The cost would be 16k-20k a yr. This would include tuition, fees, books and dorm/food plan. I am sure the cost is more at some private schools but it is still alot. How do middle income parents budget for something like that? DH and I want to see her get a good education but we still have to live and pay our monthly bills. The clincher is that we live in a city that has many colleges and universities that she could go to and live at home. The tuition/fees/books are within our means but the added dorm/apt expense is close to 9500 per year, which puts it out of our means.

Given that you can't afford much for college, and given that good schools are available near your home, the answer seems obvious: Tell her you can pay tuition, but she'll have to choose a college with a location that'll allow her to live at home.

Going away to school is a great thing, but NOT if it means taking out loans that'd otherwise be unnecessary. If she complains, I'd sit down and map out her projected earnings 1st year out of college vs. expenses PLUS loan payments. That could be a big eye-opener.

 

[MrsPete]

Also, don't automatically rule out private schools because of the cost, like most people do. Private schools have larger endowments and more aid available through grants, scholarships, etc. the state schools. It was SIGNIFICANTLY less expensive for me to attend a private college then it was to go to a state school or even a community college for that matter.

I think this is true SOMETIMES, but it certainly isn't an across-the-board, written-in-stone rule. The whole truth is that an informed consumer should check out ALL options. Often these things depend heavily upon the circumstances of the individual who's applying.

 

[MrsPete]

it's not what dh or i believe/feel but-we know lots of parents who want their kids to go to whatever college they desire to-and in some cases it makes no rhyme or reason why the kid picked that college nor the cost. in some of these cases the parent's take on the entire financial cost/in some it's shared with the student. some parents end up despite putting money away for years having to mortgage their homes to the hilt, or obligate themselves to student loans they will be paying off well into retirement (if they can afford to when the time comes). i know students/parents who have spent/owe close to 100K in loans because they passed on local colleges to go to out of area ones that afforded them 'space' to be 'on their own/independant'.

I teach high school seniors, and I agree that many of them choose their college (a MAJOR life decision) based upon some rather foolish criteria: MANY kids choose a certain college because a best friend or boyfriend is going there, others choose it because of a football team, because their parents or siblings are graduates, or because it's far from home. I've asked some seniors what they plan to study or what degree they plan to pursue, and they aren't aware that they need to make that choice. MANY kids don't even consider the cost of college (some because mom and dad are paying, others because they're taking out loans, and the repayment seems so far in the future -- you know, when they'll be raking in the big bucks).

If parents are paying -- well, even if they're not -- they absolutely have a responsibility to help their students choose a college. A good decision usually requires more than a 15-minute talk about the school.

 

[MrsPete]

Our concern is that the degree she is interested in has a VERY low starting pay, which would make it difficult to pay back large loans....it doesnt make sense for her to take out large loans/

The loan-folks don't really seem to put much stock into who's going to be able to pay back student loans -- otherwise, they wouldn't be allowing potential teachers to borrow 100K! Student loans are a strange thing: they're loaning money to people who have no jobs, no income, and no apparent way to pay back the money -- they're loaning money strictly on the student's potential, yet they'll loan the same amount to a Philosophy major and an Engineering major. Doesn't make much sense to me.

 

[MrsPete]

In a recent legal uprising spreading across America, parents are being ordered by courts to pay their children's tuition bills. This is not because their children have any sort of extenuating circumstances or because the parents had previously agreed to pay. The reason is solely because the parents are divorced.

I think it's a horrible choice. Parents should not be FORCED to pay for their children's college educations.

I have every intention of paying for my daughters' educations, BUT if they were to go away to school and fail to make good grades, or get into trouble . . . I'd yank that tuition check right out of their hands the next semester! I'm only willing to pay IF the girls are doing well academically, progressing towards a degree, and otherwise doing well.

What about Walmart employees? Are these minimum-wage workers going to be forced to go without necessities so that they can fund their children's educations? What about people who are out of work, people who need to work on their own retirement, people who are caring financially for their own aging parents, etc.? It's completely unfair to say that parents MUST pay for their adult children to attend college. There are simply too many "what ifs" to make this a law.

 

[MrsPete]

If I was a mom, I would try to find some balance whereby my child could go to school and have a great experience, but be responsible for some portion of the cost.

This, of course, is the ideal situation for every student -- that perfect balance between dependency and independence.

 

[DVCLiz]

I think it's a horrible choice. Parents should not be FORCED to pay for their children's college educations.

I have every intention of paying for my daughters' educations, BUT if they were to go away to school and fail to make good grades, or get into trouble . . . I'd yank that tuition check right out of their hands the next semester! I'm only willing to pay IF the girls are doing well academically, progressing towards a degree, and otherwise doing well.

What about Walmart employees? Are these minimum-wage workers going to be forced to go without necessities so that they can fund their children's educations? What about people who are out of work, people who need to work on their own retirement, people who are caring financially for their own aging parents, etc.? It's completely unfair to say that parents MUST pay for their adult children to attend college. There are simply too many "what ifs" to make this a law.

This is not across the board, only for parents who previously agreed in a divorce to split college costs, I believe.