Parent reneges on financial commitment to Brown

[mini]

Brown doesn't have Early Action.

It will likely be more than an extra $30k over four years, as costs will go up 5-6% a year. (And loans may already have been part of the package.)

[Redondo Dave]

Thanks so much for all the great ideas. We will talk to the Mom and the girl and give her all of this information. Again the folks at CC have a wealth of knowledge and are willing to share. I certainly hope that she can work this out as she was so excited to be accepted to Brown.

[owlice]

I'm not a fan of lots of debt, either. I think $20K... okay, that's okay, if it's necessary. Doable. I'd advise very strongly against $40K. But this... well, I think it really depends. Does the aid package include work-study? Her summer earnings? Does Brown give credit for APs, and if so, is she eligible for any credit? Are there scholarships in her field for college students, and would she be a strong candidate for them? Can she get a break on housing costs by being an RA?

I don't know that she would necessarily have $30K in loans. Yes, she might. But she might not. She may be able to do several things to mitigate that, to lower the amount she'd have to borrow.

I think I'd look at all of those things before taking a gap year or going to community college.

[owlice]

Dave, is there any chance of her dad coming east? I'd like to slap him if so.

[Redondo Dave]

If Brown does not have Early Action then it must be Early Decision. She received her acceptance in December 2007. Sorry for any confusion.

[jonri]

You really should have her talk to an attorney in the state where she lives and the state where her father lives if it is different. In some states, it is quite common for a court to compel a non-custodial parent to pay a proportionate (based on income)share of the cost of state U. (He can be ordered to pay this amount, even if the kid opts for a more expensive private college.) My understanding is that this is the case in NY, though this is not legal advice.

If the father agreed to pay this in wiriting, then the young woman may be able to bring an action for breach of contract, as a third party beneficiary. (Again, this is not legal advice.)

I'd tell her to call her local bar association legal referral service and find out what the cost for a consultation is. If it's minimal, she should get together any proof she has and go see an attorney.

Once again I stress that if you get divorced, bargain over college money THEN, no matter how young your kids are, and incorporate any agreement you reach in the decree, if that's possible in your state.

There was a thread recently on the same topic. Somebody gave a link to a site which summarizes state's laws on this issue, I think. Do a search.

[Muffy333]

You said the dad and daughter are estranged since the divorce. Maybe it would be a good time for daughter to call dad up and go out to lunch? Sometimes that's all it takes...

[Bay]

I think she should take the loans (if available) and go to Brown. This way, she will at least have the Brown degree/experience under her belt, which offers the potential for a high-income career. Maybe her jerk father will come through and pay off the loans, or live a short life and leave an inheritance to her to pay it off. If she lets the opportunity go, she will forever hate her father for denying her this opportunity. That is no way to go through life.

[CountingDown]

Redondo Dave,
Does Brown's "full grant" package have an expectation that the D will contribute COA-student earnings-(7500* each parent)= FA grant amount,
or is it COA-(7500*each parent)= amount of grant (non-repayable) FA? The basic Q is -- does the FA package already include loans or student earnings?

If the package does NOT include loans or student earnings, $7500 a year isn't so bad to make up -- $4000 in student earnings during the year and summer plus $3500 in subsidized Stafford (I am assuming she'd qualify for sub since she's getting a substantial FA package). Alternatively, she could reduce the student earnings and increase the Stafford.

Even if this young woman took full Staffords (before the new increase) for four years to help cover her father's share, she'd be looking at $19K in loans. To me, that is an acceptable debt load, esp. for a student who is getting the advantage of an Ivy education. (This is also the debt load we expect our own kids to assume, so my personal bias about 'skin in the game' is clear.) In that case, the difference in debt is $11,000 over four years. That's a big difference between 19k in Stafford plus 30K in PLUS/other loans.

I hate to see kids miss out on opportunities when, with some finessing, it may be possible. I had to turn down Duke, even with a scholarship.

[khsstitches]

My D will have 30K in debt......it is not insurmountable. If this young lady earned and wants Brown that badly, she should go for it. Her Brown education will pay off in spades in the long run........I suspect this is a person of integrity and drive who will succeed. I'd encourage her to go for it....but also explore legal options as mentioned and have Mom call Brown. Have an appt if possible (depends on where you live). Mom's financials may change and she would be kicking herself for passing up this opportunity. My D's friend is in a kind of similar situation. She got into Smith and will have waaay more than 30K debt when she graduates....but she is getting the education she worked hard to be eligible for, and feels its worth it. Good luck and you are wonderful for helping her.

[Consolation]

ALso do not forget that she may be able to apply for and receive scholarships that will help close the gap in coming years.

The idea of CC instead of Brown for $7,500 is horrendous.

[marite]

I love the way posters assume that a Brown education "will pay off in spades." What's the evidence for this?

[ucsd_ucla_dad]

I know it happens but I just don't see how a 'Dad' could do this to his daughter.

Okay, more debt is best to avoid but if she can manage to get loans for this, I think she should consider going for it. $30K is about the price of an average car nowadays and really isn't that big of a deal to pay off assuming she gets a reasonable job upon graduation which doesn't seem that unlikely given that she's going to Brown. If she's willing to live with mom for the first year or two upon graduation she'd save enough to pay of the extra $30K. A gap year will cost her a year of career income which is likely to be much more than the $30K. It needs to be put into perspective.

[marite]

No. The gap year would enable her to apply to other schools, perhaps some that would give her merit money.
I'm assuming that a loan of $30k would actually translate into a debt of $40k.
What is a reasonable job? How much would it pay?
Could she reasonably expect to be able to pay back $5k per year for the next 8 years, save to buy car (mom is already holding two jobs, so she's not going to be able to help launch D); save for her retirement, maybe to buy a condo down the line?

I don't know why people think there is nothing worthwhile between Brown and Community College! Or that a gap year is such a bad idea. It's actually encouraged by Harvard.

[ebeeeee]

I'm with marite on this one....I have posted many times that I employ some highly paid people. Some of them are saddled with a lot of student loan debt. It really makes it tough for them to do the things like buy a condo or starter home, begin to think about marriage and family, etc.
There is lots of great merit aid out there. Lots of good education to be had between Brown and Community College.
I'll even stick my neck all the way out to say that some of those colleges in between will offer a lot of attention to a student who is highly bright and motivated in a way that Brown might not when that student is in a place where EVERYONE is a BWRK.