| I'd encourage people to apply for financial aid even if they feel they might be over the upper limit....like if in the middle class to upper middle class (whatever that means, I am not even sure myself, but simply saying not low income). Many factors go into the "figuring" and if you have two in college, that also affects the aid. We applied for financial aid (need based) with both our kids and get it. Also, I did not realize until acceptances to the MT BFA programs came last month, but they all seem to give out merit aid too (some based on just academics but some based on talent or both). Most were quite significant. So, it exists ON TOP of financial aid that is needs based.
Jamimom, again your post is right on and so wise, as usual. I do want to tell you that I bet your son would have qualified for merit aid at Syracuse....my D was a Founders Scholar there (as well as selected to Honors College) and that award was $12,000/year and I know, for instance, that your son had higher SAT scores (and lots else going for him). I think you'd be surprised, as I certainly was. Emerson even gave more but I THINK theirs might be needs based so that is not the same point as I was making about Syracuse.
As far as how do some people pay for all this.....just like the original inquiry, we certainly cannot shell out these tuitions for one or now two kids per year at all. After aid and all, it involves a great deal of loans that will be paid for years. The other thing is if your kid is not home any longer, then whatever you spent for them per year for things growing up, you can put toward college (that is not enough but it is something)...like the money spent on lessons or summers and things that people did at various levels for their kids before college. But suffice to say that many of us do not have the money to plop down to the college out of the yearly income that year. Many are not willing to take out the loans and so ask how to come up with the money but some of us really have taken out many college loans and thus will pay it out for the rest of our lives I think!
Susan |