Will your child need scholarships to attend college?

[Colleen27]

One of mine will, one won't. DS is set because he chose a very low-cost path. He's starting a 2 year, dual-degree program in the skilled trades at the local community college in the fall. We can easily cover that OOP. In fact, the car and insurance (because we're rural and there's no way to commute without a car) may add up to more than the actual college costs.

DD, on the other hand, will be needing some big scholarships/grants to attend any of her top choice schools without unmanageable debt. We're a lower-middle income family and it has become a running joke that one of her criteria for a school is that it costs more than we make in a year. However, the elite private universities are very generous with their need-based aid so it isn't academic scholarships that we're hoping for - she's a stellar student, but so is everyone who gets into the schools she's looking at. I will forever be grateful to the college counselor at her school for directing us towards the net price calculators because a 70k price tag may have scared me off of taking her for a tour or encouraging her to apply, even though that school may be cheaper in the end than the 25k state school where need-based aid is all loans and academic awards are scarce and small.

 

[bethbuchall]

The last of three is heading to college in the Fall. None have needed scholarships to go to our state schools. (Although they did get some money, and it certainly helped.) He'll only "need" a scholarship to justify the cost of a more expensive, private school. It's not likely that he'll get one large enough to bring the cost down that far. He didn't have his heart set on any particular school, though, and sees the benefits of graduating nearly debt-free.

 

[cabanafrau]

I listened to a presentation by our high school activities director. I don't know where he got his figures, or whether they are accurate, but he said the "average" athletic scholarship is $6000. The average academic scholarship is $12000.

Not at all what I have seen from friends and family and from what my daughters know of friends and classmates. I know of a current college freshman who had good grades and decent test scores who has a full ride to an out of state public university for bowling. From what I have personally witnessed it is far, far easier for the kids to get scholarship money for sports, being in marching band or on the flag squad than it is to attract anything like those dollar amounts, even for the top echelon of students.

Sorry, have to abandon discussion at the moment. Have been struggling to come up with a board appropriate way to express my thoughts, but I am called away.

 

[sk!mom]

It really depends. My dd is a senior. We've saved quite a bit for her but without some merit aid she won't be attending her 1st choice which comes with a $65k price tag. We know need based aid isn't happening.

Sports is so iffy. My recommendation is to have you teen look at schools where they're at the high end of average. That's what my dd has done. There's more merit to attract students who help the school increase their standing.

Agree on sports. It can be great but hard to predict.

Safest measure is to save as much as you can and then choose carefully.

My DD20 chose a school where she was an attractive candidate. This got her enough in merit money so that our savings/ability to cash flow could cover the rest without debt. We made sure that she applied to at least one school that we could fully cover without merit aid.

She applied to one private because we had heard so much about how they would equalize the cost but the $15K scholarship would have left a $37K annual price tag. We were unwilling to take loans when a debt free alternative was available so it was easily eliminated..

 

[sk!mom]

One of mine will, one won't. DS is set because he chose a very low-cost path. He's starting a 2 year, dual-degree program in the skilled trades at the local community college in the fall. We can easily cover that OOP. In fact, the car and insurance (because we're rural and there's no way to commute without a car) may add up to more than the actual college costs.

DD, on the other hand, will be needing some big scholarships/grants to attend any of her top choice schools without unmanageable debt. We're a lower-middle income family and it has become a running joke that one of her criteria for a school is that it costs more than we make in a year. However, the elite private universities are very generous with their need-based aid so it isn't academic scholarships that we're hoping for - she's a stellar student, but so is everyone who gets into the schools she's looking at. I will forever be grateful to the college counselor at her school for directing us towards the net price calculators because a 70k price tag may have scared me off of taking her for a tour or encouraging her to apply, even though that school may be cheaper in the end than the 25k state school where need-based aid is all loans and academic awards are scarce and small.

I hope this works out for your DD but urge you to check out the thread of 2017 grads. There are kids on there with awesome stats who aren't getting accepted or aren't getting the dollars needed. It's really heart breaking when the kids have worked so hard.

 

[bjscheel]

It is rather shocking to see prices. My kids would need a lot of scholarships to make a bachelor's degree affordable. We have not saved for it, but we have purchased their vehicles and such so they can save their earnings for college. DH is of the "make them pay for college themselves like I did" camp (he went to a partial year of mechanic's school though...)

When I went to a private college, the all-in cost per year was $12,000 according to my mom. My DD18 applied there and now it is $42,000 a year. They offered her $18,000 per year but still that's nearly $100,000 to pay for 4 years. There are kids from around here going there and I don't know how they do it. All of the colleges we've looked at do have a standard merit aid based on GPA/ACT. DD's ACT is 25- good, not outstanding, but she still qualifies for a fair amount of merit aid around here. But it's still too expensive. We could maybe have swung a small state university where her cost after merit aid is $14,000/year, but that still seems like a lot over 4 years. She didn't like the school anyway. Another private college wanted her to run track and did offer her quite a bit more than the published aid for her scores, making it about the same as a state school, but she didn't like it either.

So...DD18 has decided to go to community college. One near us in an up and coming area has a complete graphic design program that has more graphic design credits in 2 years than most other colleges do in 4 years. Total tuition is $10,000, housing $550/month. If she gets in Honors Program, that will take about $3000 off. As a compromise with DH I plan to contribute up to $2500 per calendar year since that's what we would get back in taxes anyway. She may get a few local scholarships. So tuition is not a huge deal. She has enough saved now from working to pay for on-campus housing and plans to work during college to keep from draining her savings. So in her particular situation she does not need scholarships but a couple thousand will help so she is applying for several.

So one is figured out but DD15 I can see as definitely wanting a private college 4 year degree. Her test scores will probably be better than her sister's but she is going to need a lot of scholarships to make this work. She is also one that will get her heart set on a place and not want to consider cost. Not to mention she wants a theater major. I worry about this one a little but we will figure out something and not let her accrue a huge debt. Seeing what DD18 has been offered makes me think if DD15 can get to the next level, maybe some place will work out.

 

[Poohforyou]

Agree on sports. It can be great but hard to predict.

Safest measure is to save as much as you can and then choose carefully.

My DD20 chose a school where she was an attractive candidate. This got her enough in merit money so that our savings/ability to cash flow could cover the rest without debt. We made sure that she applied to at least one school that we could fully cover without merit aid.

She applied to one private because we had heard so much about how they would equalize the cost but the $15K scholarship would have left a $37K annual price tag. We were unwilling to take loans when a debt free alternative was available so it was easily eliminated..

This is basically what dd did. She's gotten 2 acceptances so far. 1 to a school we could pay in full without any merit aid (but got a nice amount anyway) the other to a school that we needed some merit from (she got enough to make it doable).

Dd is fortunate to be an only child in that she gets all the college savings for herself. She has a lot more options than some friends with several children.

 

[Pea-n-Me]

I hope this works out for your DD but urge you to check out the thread of 2017 grads. There are kids on there with awesome stats who aren't getting accepted or aren't getting the dollars needed. It's really heart breaking when the kids have worked so hard.

I agree.

It feels to me like at least some of this depends on where you live and/or where the school is, besides things like grades, test scores, and income. Their actual determinations can be based on many things, and it's a head scratcher sometimes trying to figure them out.

MA can be tough for in-state middle income residents, and it sounds like NJ is, too.

It was interesting to me to see on that thread, an out of state resident being offered lots of money to attend an in-state MA school, while many of us MA residents were SOL. Especially since I remember an administrator at one of our state universities saying it was our [high] tax dollars that kept the schools going. (And that poster turned her nose up at it, lol.) I suppose it's important for them to have an eclectic student body, so they're willing to give out money for students to come from out of state, or even out of the country.

 

[mjkacmom]

I agree.

It feels to me like at least some of this depends on where you live and/or where the school is, besides things like grades, test scores, and income. Their actual determinations can be based on many things, and it's a head scratcher sometimes trying to figure them out.

MA can be tough for in-state middle income residents, and it sounds like NJ is, too.

It was interesting to me to see on that thread, an out of state resident being offered lots of money to attend an in-state MA school, while many of us MA residents were SOL. Especially since I remember an administrator at one of our state universities saying it was our [high] tax dollars that kept the schools going. (And that poster turned her nose up at it, lol.) I suppose it's important for them to have an eclectic student body, so they're willing to give out money for students to come from out of state, or even out of the country.

Dd20 was offered $25,000 per year from UMASS Amherst, $0 from her current in state NJ university with similar stats. It seemed like no matter what, tuition was going to be $25,000 per year with room and board. Our state program offered her free community college.

 

[QueenIsabella]

I agree.

It feels to me like at least some of this depends on where you live and/or where the school is, besides things like grades, test scores, and income. Their actual determinations can be based on many things, and it's a head scratcher sometimes trying to figure them out.

MA can be tough for in-state middle income residents, and it sounds like NJ is, too.

It was interesting to me to see on that thread, an out of state resident being offered lots of money to attend an in-state MA school, while many of us MA residents were SOL. Especially since I remember an administrator at one of our state universities saying it was our [high] tax dollars that kept the schools going. (And that poster turned her nose up at it, lol.) I suppose it's important for them to have an eclectic student body, so they're willing to give out money for students to come from out of state, or even out of the country.

That doesn't surprise me. Friends of ours from NH had one child who wanted to go to Rutgers--ironically, the friends are originally from NJ. It turned out, the financial aid package he got was equivalent to having to pay in-state tuition. So, it worked out for them, and Rutgers got a (sort-of) diversity candidate.

 

[Pea-n-Me]

That doesn't surprise me. Friends of ours from NH had one child who wanted to go to Rutgers--ironically, the friends are originally from NJ. It turned out, the financial aid package he got was equivalent to having to pay in-state tuition. So, it worked out for them, and Rutgers got a (sort-of) diversity candidate.

Right, and I get that. (And DD liked Rutgers herself.) This was just like it was laughable to go to this school that had offered so much money, ie it was on the bottom of the list, lol.

 

[traviesojmt]

My DS is currently a college sophomore. He chose to attend a private school in Tennessee. Room, board, and tuition runs just shy of $40,000/ year. Without scholarships, we could not afford to send him there. His college offered $19,000/per year (renewable all four years if GPA is maintained) of scholarship money. While still a significant amount to us, it became doable with the scholarship money. For informational purposes, he scored a 29 on the ACTs. He received comparable offers at two other private colleges.

 

[okeydokey]

We would figure out a way to make it work regardless with what we have saved and what we would pay as we go. DD received the highest level of FL Bright Futures which covers 103 per credit hour (out of 215) and another 2400 a year from the University itself. What is left she pays with her savings. We cover rent and she works for food/expenses.

I think our DS will receive the National Merit scholarship award in FL which will give him cost of attendance in a FL University.

 

[xlsm]

My kids are 11 and 13, and they talk about college all the time. The 11 year old has big dreams, and the 13 year old says he plans to live in little brother's basement, LOL!!

I am on a committee that picks a local scholarship winner, so my eyes were opened wide the first time I was part of the selection process!

Mine won't qualify for anything need based, so merit and/or niche scholarships are going to be our goal. Both boys are in orchestra, but the youngest really excels and enjoys playing (cello), and the oldest is average, and just sort of "meh" about his violin. We've told them music scholarships would be wonderful...my husband paid for three years of very expensive private university with his music scholarship until he didn't have time to play anymore when he switched majors his senior year.

The youngest thinks he wants to go to UPenn and the Wharton School of Business...which is a great dream, but our local state university offers a nationally recognized MBA program and in-state tuition is easily manageable. The oldest wants to be a teacher, and teach while getting his masters/PhD and then be a principal. If he goes to DH's university, his tuition will be halved. Or again, he could go to our local state university for in-state rates...and we could get student tickets to football games (SEC!)

At 11 and 13, this could change tomorrow, but they've both been on this kick for almost two years now, so who knows? We told them they will get summer jobs as soon as they're old enough, and/or volunteer, and take all the AP courses they can.

DH and I joke all the time about where they should go based on where we want to live or visit in the future (Tulane, Pepperdine...University of Hawaii )

We really try to reinforce the fact that they aren't going to get financial aid unless they work for it and earn it through grades and activities, and while we will help them out however we can, I don't want us to give up our own newfound freedoms from an empty nest because we're still spending all our money on them. I grew up being very independent, knowing my family couldn't financially help me in any way. I don't want them to think because we can afford to help, that we're going to be their only source of funding. They need to learn how to take care of some things on their own...DH doesn't want them to take out loans, but I'm not opposed if they are small.

 

[mjkacmom]

Not at all what I have seen from friends and family and from what my daughters know of friends and classmates. I know of a current college freshman who had good grades and decent test scores who has a full ride to an out of state public university for bowling. From what I have personally witnessed it is far, far easier for the kids to get scholarship money for sports, being in marching band or on the flag squad than it is to attract anything like those dollar amounts, even for the top echelon of students.

Sorry, have to abandon discussion at the moment. Have been struggling to come up with a board appropriate way to express my thoughts, but I am called away.

Oh, and dd20's best friend graduated second in her class, 2350 on her SAT, national merit scholarship finalist, state orchestra, Rutgers gave her $5000 a year, Northeastern $30,000 (where she is currently a student).

 

[teller80]

Agree on sports. It can be great but hard to predict.

Safest measure is to save as much as you can and then choose carefully.

My DD20 chose a school where she was an attractive candidate. This got her enough in merit money so that our savings/ability to cash flow could cover the rest without debt. We made sure that she applied to at least one school that we could fully cover without merit aid.

She applied to one private because we had heard so much about how they would equalize the cost but the $15K scholarship would have left a $37K annual price tag. We were unwilling to take loans when a debt free alternative was available so it was easily eliminated..

\

Do you think this may be the key to scholarships? If you have a 4.0 and a 32 ACT and you apply to a school where the average is 3.0 and 24, will they offer you money to entice you to come to raise their student profile?

 

[mjkacmom]

\

Do you think this may be the key to scholarships? If you have a 4.0 and a 32 ACT and you apply to a school where the average is 3.0 and 24, will they offer you money to entice you to come to raise their student profile?

Yes!

 

[bethbuchall]

\

Do you think this may be the key to scholarships? If you have a 4.0 and a 32 ACT and you apply to a school where the average is 3.0 and 24, will they offer you money to entice you to come to raise their student profile?

Yes, though it works better with some majors than others.

 

[Mrs. Ciz]

No, my 2 kids won't need scholarships to attend college, but they both have chosen in state public schools. Our state, Virginia, doesn't have any automatic scholarships based on gpa or test scores. DS is a 2nd year at UVA. He was class valedictorian, had a perfect gpa, high ACT scores, leadership positions and community service. He got no merit money from UVA because you have to have his stats just to get in to UVA.

DD is a high school senior. She didn't score high enough on the SAT to get automatic merit money at University of Tennessee (the only out of state school she applied to). She did get $4000 a year at Old Dominion University, but she won't go there as she feels it is academically beneath her (and it is). She is going to attend either James Madison University (accepted) or Virginia Tech (still waiting to hear) and probably won't get merit money at either school.

We are paying for college with our 529 Prepaid Tuition Plans, savings and monthly income. I got a better paying job 3 years ago so we'd have extra cash in the budget for college expenses. We are so glad we paid into the prepaid tuition plans all these years. It was like making a 2nd mortgage payment every month, but it is so worth it now!

 

[adisneyaunt]

With 60k plus tuitions, even getting the full Presidential Scholarships ( most were about 30-35k total)!were a drop in the bucket for the Big Picture!

The top tier tuitions were not offering Top Tier Scholarships! Actually disappointed me/us.

Plan Ahead!!!