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Financial Aid Unfair? psh, It's Absurd!

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Replies to: Financial Aid Unfair? psh, It's Absurd!

  • emeraldkity4emeraldkity4 Registered User Posts: 35,861 Senior Member
    Emersongarcia is using cost of tuition, 2018 dad is may be using cost of attendance.( although that seems to include next years increase?)
    Usually within the estimated COA, there is wiggle room to make budget cuts on housing, personal expenses, transportation & books.
    And those things dont need to be paid for upfront.
    Average debt @ graduation is under $23,000 so that is reasonable. Of course that doesnt include parent debt.
    Kiplinger's Best Values in Public Colleges-Kiplinger
  • uskoolfishuskoolfish Registered User Posts: 2,715 Senior Member
    It will be interesting to see what the next generation will feel about the whole financial aid thing.

    My DH went to a highly ranked school and received financial aid based on his parents income. He may have got a leg up in admissions, too, because he was first generation and half Hispanic (Argentinian.)

    As a college graduate of a good university and through hard work, etc. DH has had a successful career. His successful income, plus mine (also 1st generation college) has disqualified our D's from receiving financial aid. We have been able to pay D's tuitions, but I can definitely feel sympathy for others who do not qualify for aid in high cost areas.

    College costs can really set back a family financially if they need to pay in full or else it burdens the next generation with debt. Either way, it does not make those with a high EFC feel very rich anymore. Since we've all been raised to feel that things will be better for the next generation, many are becoming aware that it may not be the case for the future.

    So my question is: how will this generation who gets fin aid feel when they have to pay full fare for their own children if they are successful in life and do end up benefitting from their (low-cost) college degree? Chances are they may feel up in arms over financial aid when their savings and high income no longer makes then feel so rich when the bill comes for their children.
  • CTTCCTTC Registered User Posts: 2,130 Senior Member
    So my question is: how will this generation who gets fin aid feel when they have to pay full fare for their own children if they are successful in life and do end up benefitting from their (low-cost) college degree? Chances are they may feel up in arms over financial aid when their savings and high income no longer makes then feel so rich when the bill comes for their children.
    Well, here's one response:

    http://talk.collegeconfidential.com/parents-forum/1489542-dont-want-pay-college.html
  • emeraldkity4emeraldkity4 Registered User Posts: 35,861 Senior Member
    Are young couples going to be able to afford even having kids?
    I don't see it happening with my kids or my nieces & nephews.
    However if they do have kids, I expect they will anticipate what expenses go along with that. Additionally, we would be interested in helping the grandkids with loans as would the other set of grandparents which is a more generous attitude than what my H & I experienced.
  • cptofthehousecptofthehouse Registered User Posts: 26,432 Senior Member
    Of course they are going to be able to "afford to have kids" as they will have them even when they can't afford them by some standards, maybe ours. But WE, DH and I couldn't afford to have ours when we did either by the standards we set. We were still paying on our student loans. Our grandchildren will be better off in some ways if our kids live near us, as they will have us around to help out. We did not have family which made things very difficult on a limited budget, especially in a whole new city from where we ever lived.

    My husbands cousins do not have the income we do, but in many ways find things easier in terms of raising children and managing a home since they do all live in the same area. They share resources. Plus they know the area and the community. We moved often as DH would take the job offers as they came and though that gave us more money, it gave us less stability, connections to the communities and no family. I paid for any help for anything as there was no one to do a favor for us, not a soul. Now that my older kids are adults and in the area, I finally get some help on things that don't require writing a check. I have more freedom than ever. I had to get a sitter anytime I went anywhere that I could not take the kids and, had to pay. With my youngest ones, that was no longer the case as the older ones could help out. What a difference that made and makes. I have someone to feed the dog and let him out, a ride from X to Z if needed, someone to do all but the most skill needing repairs around the house. With DH gone most of the time due to his job, and I was not handy at all, any and everything was paid for, and yes, I got "taken" a lot, too, since I was not connected. Now my kids know people and when there is that connection, it's a big difference in service and price.

    But no, my kids at this time would be hard put to have kids and live the way DH and I did, since they don''t make that kind of money. We barely were able to do so even with the pay, and ran up some debts in doing so. I'm not sure that was the best way to go either.
  • cptofthehousecptofthehouse Registered User Posts: 26,432 Senior Member
    Just a story to share, one of the more distant relatives moved to the west coast with their little one since the spouse, a doctor found something there he liked, and the two of them decided the COL and all was a lot more family friendly there. They were right on all counts, but they don't know a soul there. She became pregnant, had twins, no family there and had to plunge right in with looking for community resources. The twins have some issues and now going back to work is questionable if not a total out for her especially since the pay there is not what it would be here. But the real killer is no family or close friends . They're getting there, but nowhere what it was like here, where she and her husband lived for 15 years. Parents lived within the hours, a sister within a half hours, we 're also in the loop. When things get rough, there is only so much you can ask others to do, but having close friends and family that step in without being asked is a whole other thing. Worth quite a bit.
  • emeraldkity4emeraldkity4 Registered User Posts: 35,861 Senior Member
    If my oldest was going to have them she probably would have by now.
    But she is still working a temporary job so long term projections are unclear.
    Its not like humans will be extinct if she doesn't reproduce.
    ;)

    My H & I did not have an overnight together away from the kids until we took oldest to college.
    I don't think my kids want to live that close to the bone.
  • Bigdaddy88Bigdaddy88 Registered User Posts: 681 Member
    One thing I know for sure. My W and I will begin saving for our grand kids as soon as they pop out!
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