U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Parenting
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-28-2012, 08:13 PM
 
15,811 posts, read 13,261,648 times
Reputation: 19712

Advertisements

Quote:
Originally Posted by Mainer61 View Post
My daughter graduated from Columbia last year. My husband is a retired teacher and I work. The first year the financial aid wasn't that great and she thought of transferring to Cornell. Their aid was terrible. Fortunately, Columbia's package improved her second year (YAY!) and she finished her 4 years there. We probably paid $60K of our own money---big sacrifice but we always figured this....if she did her part and got accepted, we needed to make it work.
Cornell was worse than Columbia?

One of my students whose mother works at my school (so I know her salary about $65K) only had a $2000 a semester expected family contribution at Cornell. Maybe something was off in their financial aid calculations?
Reply With Quote Quick reply to this message

 
Old 01-29-2012, 06:38 AM
Status: "Even better than okay" (set 27 days ago)
 
Location: Coastal New Jersey
51,643 posts, read 50,894,234 times
Reputation: 60688
Quote:
Originally Posted by lkb0714 View Post
It is one of those schools.

"Families with calculated total incomes between $60,000 and $100,000 (and typical assets) have a significantly reduced parent contribution. "

Financial Aid: The Basics | Columbia University Office of Undergraduate Admissions

Two of my middle class students went to Columbia on free rides in the last two years.
Huh. Then I don't know what the issue was, but my daughter's valedictorian was accepted to Columbia but could not go because her parents could not afford to send her there. Again, I don't know their income or financial situation.

She is at Rutgers, where I assume she got a free ride, or nearly.
Reply With Quote Quick reply to this message
 
Old 01-29-2012, 07:37 AM
 
Location: Big skies....woohoo
12,421 posts, read 2,796,624 times
Reputation: 2186
Quote:
Originally Posted by lkb0714 View Post
Cornell was worse than Columbia?

One of my students whose mother works at my school (so I know her salary about $65K) only had a $2000 a semester expected family contribution at Cornell. Maybe something was off in their financial aid calculations?
Yes, we were surprised as well. I can tell you that Columbia made a huge mistake in calculating the financial aid for the last year. I panicked and it took me 2 months of unanswered emails and phone calls, and one phone call to the Dean to get it straight. He saw the mistake right away---thankfully! Maybe there was an error with Cornell, but she really wanted to stay at Columbia anyway, so it worked out for the best. The enhanced financial aid didn't go into effect until her sophomore year.
Reply With Quote Quick reply to this message
 
Old 01-29-2012, 08:20 AM
 
Location: Camberville
11,410 posts, read 16,072,710 times
Reputation: 18127
From a very young age, my parents told me that if I wanted to go to school, I would need to get a scholarship - so I did. Rather than go to a top 20 school, I ended up at a small private school ranked in the 30s to maximize scholarship opportunities. In the end, family planned on paying all along but tricked me into thinking I was on my own... it helped me to make more informed decisions and to work hard in high school.

But my actual college search was entirely self directed. I applied to 3 schools early action and one early decision (the one I ended up going to), but had about 10 backups set aside for scholarship purposes. My parents' only role was to take me to visit schools, proofread my final essay, and pay for my SAT and application fees. I had decided by early junior year which school I wanted to go to.
Reply With Quote Quick reply to this message
 
Old 03-31-2012, 09:34 PM
 
6 posts, read 9,653 times
Reputation: 19
Just found this thread. Seems it split into two issues. 1/Helping your kid decide. 2/Helping your kid pay.
Regarding #1: My kid THOT he wanted to get a Film degree when he applied to colleges. Except he didn't want to go to the west coast. After all the apps were in... he later decided film wasnt stable or dependable enough to earn a living. And now states he wants a business degree and maybe a law degree after. I think that's a terrible fit for him, despite what the career assessment says. He's so much more creative and laissez faire. But he needs to follow his own path, IMO. Here's the tough part, he got accepted into UT Austin's Communication College. A very competitive place. Even more competitive is the UT business school - odds are it would be very hard to transfer into that program. Esp as my son HATES calc and thats a requirement. So he's in a great, competitive state school program but doesnt want to study what he is accepted for (and I think is best suited for). OTOH, he also has been accepted to Trinity University, the top rated liberal arts school in the West region (per US News). He can definitely study business there, tho that program isn't nearly as respected as UT's biz program. He can also minor in communications. I've read that all the grads from Trinity who apply to law school make it in. The cost? Exactly the same after scholarships and aid package. So I've no way to counsel him about which school. Part of me wants him to go to UT because of its great reputation and because it will stretch him (he'll have to be more independent in such a big place). Trinity seems well known in Texas and everyone I've talked to who went there raves about the family feel and personal support. He's attracted to that. I'm so torn and I think he is too. I've no idea what to do except let him go with his gut and give the private school a try. We do have a tour at UT scheduled for then end of April - 2 days before deposits are due.... but I'm not sure if it is worth it. sigh.
Ok. #2 - money. Even though both schools will essentially cost the same, we basically are getting nothing but $2 at UT. I worry something might happen and we will not be able to afford the full $46,000 that Trinity will cost. Ignoring that, the first year cost for EITHER school will require $5000 in loans for my son. And lots of work from him. And every spare penny from me. For four years. $40,000 to college instead of my non-existant retirement. Middle class single mom. It sucks. I suggested 2 years of community college - UT will keep his spot and he could finish up there. But he said - and I understand - "what's the point of me working hard to be in the top 5% if I have to go to community college with all the kids who couldn't get in anywhere else?" I understand so well. So when I read all these comments about going to state school because its so cheap I just dont get it. Maybe if you live at home it's cheap, but with the cost of room/board at about $10-14,000/year added to the low $9-10,000 tuition, it really pushes the price way more than "WE" could afford.
Reply With Quote Quick reply to this message
 
Old 04-01-2012, 09:10 AM
 
Location: New York City
2,814 posts, read 5,874,496 times
Reputation: 3143
Just to clarify, are you saying as a TX resident you will be paying $40,000 out of pocket for UT? As a single, middle class mom? Your son is in the top 5%? You should be getting substantial money unless you make a lot of money.

Trinity may be known in TX, but not anywhere else. You mentioned it being the top liberal arts college in the west, but that would be Pomona, Claremont McKenna and Reed for example. UT Austin has a great, national rep. I would go with that personally.

Your son can major in anything and still go onto get an MBA or Law degree.

They also say that saving for retirement is crucial, and has to come before all else.
Reply With Quote Quick reply to this message
 
Old 04-09-2012, 01:39 AM
 
6 posts, read 9,653 times
Reputation: 19
Trinity U is about $44,000/year, but my son was awarded school scholarships/grants that bring the price equivalent to UT Austin. But even stil, that's about $20,000+ a year, including room & board. That's were the $40,000 comes from.... how much I will have to pay for the 4 years he is in school at EITHER school. Plus he has to take loans on top of that. A boatload of money.I always heard state college was cheap, but this doesnt seem cheap to me. Of course, I heard "cheap" when I started saving about 15 years ago. Obviously that has changed.
As for UT.... it does have quite a reputatation nationally. But my son is convinced he feels more at home on the TU campus. He likes the small feel. He is convinced he will do better there. And as a friend told me, if he doesn't feel it fits, then he wont be successful anyway. If he does super at TU plus keeps up with community service, he will be in better shape than if he went to UT and just got by. Name recognition only gets one so far. Employeers generally look at more than just the school name. Besides, he believes firmly that he will go to grad school or law school afterwards and that will be more important to employers than his undergrad. Both UT and University of Houston have great law programs (UH's intellectual property specialty is #4). And from what Ive read, 99% of TU students who want to continue to law school have no problems getting in. And on top of all that - he currently wants to stay in Texas to work. I know - he's only 17. But he's gotta live his own plan.
Yea... so we've put a lot of thot into it. And I've hammered him about it. Guess now its just hard for me to give up the idea of UT after talking about it, and wearing it, for 7 years - but it is DS's right to choose the college he feels best at. And he MUST like TU cuz he says his one regret about choosing TU over UT is that TU isn't a party school like UT. LOL I comfort myself with the fact that I have yet to find anyone - online or in person - who has anything really negative to say about Trinity. Instead, they all rave about the solid education and sense of family.
Thanks for your input tho.... but I guess we are decided now. Trinity it is.

Last edited by karenk10; 04-09-2012 at 01:55 AM.. Reason: forgot something
Reply With Quote Quick reply to this message
 
Old 04-09-2012, 07:46 AM
 
20,793 posts, read 52,556,547 times
Reputation: 10476
It's a fallacy that state schools are less expensive than private schools. State schools simply do not have the funds to pay large merit scholarships to students so you pay full price or pretty close to that at most state schools. Like you discovered, private schools have money to give for merit aid bringing the costs down into the same range as state schools and if you can get some financial aid on top of that, they are less expensive. If your expected family contribution is $20,000, it's $20,000 at an $18,000/year state school or a $50,000/year private school. If that private school meets 100% of need, you pay $20,000 at that private school.

One personal example, good friends, oldest child applied at one private school and 2 state schools. Net cost at the private school before loans was $5500, net cost at the state school, before loans $5,000. Her parents refused to let her spend that extra $500/year to attend the private school because it cost more. However, she graduated in December, going an extra semester, costing more than that extra $500/year would have been at the private school, couldn't find a job and is now heading off to grad school to the tune of $30,000/year. I know some alumni of the private school she attended that recruit at that private school almost exclusively, for their business, in her major (and told them so when she was picking schools). She had a better than 99% chance of landing a job with that company had she gone to that private school. Now, tell me which school was REALLY less expensive??
Reply With Quote Quick reply to this message
 
Old 04-09-2012, 02:52 PM
 
Location: Brooklyn New York
15,247 posts, read 23,882,469 times
Reputation: 19932
I left it all up to my sons as to which college they wanted to attend. I felt it was a part of growing up to make a decesion regarding their future.

I was also happy with all three of them.
Reply With Quote Quick reply to this message
 
Old 04-09-2012, 03:19 PM
 
Location: Foot of the Rockies
85,086 posts, read 99,190,340 times
Reputation: 31569
Quote:
Originally Posted by golfgal View Post
It's a fallacy that state schools are less expensive than private schools. State schools simply do not have the funds to pay large merit scholarships to students so you pay full price or pretty close to that at most state schools. Like you discovered, private schools have money to give for merit aid bringing the costs down into the same range as state schools and if you can get some financial aid on top of that, they are less expensive. If your expected family contribution is $20,000, it's $20,000 at an $18,000/year state school or a $50,000/year private school. If that private school meets 100% of need, you pay $20,000 at that private school.

One personal example, good friends, oldest child applied at one private school and 2 state schools. Net cost at the private school before loans was $5500, net cost at the state school, before loans $5,000. Her parents refused to let her spend that extra $500/year to attend the private school because it cost more. However, she graduated in December, going an extra semester, costing more than that extra $500/year would have been at the private school, couldn't find a job and is now heading off to grad school to the tune of $30,000/year. I know some alumni of the private school she attended that recruit at that private school almost exclusively, for their business, in her major (and told them so when she was picking schools). She had a better than 99% chance of landing a job with that company had she gone to that private school. Now, tell me which school was REALLY less expensive??
I hear what you're saying and agree with part of it. My oldest DD had a friend whose parents would not let her go anywhere that would cost more than in-state at the U of CO. She got accepted into a couple of good schools, including out-of-state at Penn State, which is quite difficult, but they wouldn't let her go there or any other school that would cost more. I frankly think that was a foolish decision, as I don't think these other schools would have cost *that* much more. Now this young woman did graduate in 4 years and got a good job and is going to grad school company-paid, so her story kind of diverges from your friend's kid.

However, re: the bold, all of that is specualtive, except the extra semester, and that might have happened at a private school as well. No one can offer you a job 4 years in advance of you earning your degree.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Parenting
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top